The Administration Thread

[i-Ram]

4 minutes ago, atherstoneram said:

Go on then show me otherwise or are you going to take your mums advice.

Exactly as Pete told you above - A new company is formed. Newco pay monies into Oldco, sufficient to satisfy creditors including football creditors. Newco obtain share and player registrations with EFL APPROVAL transferred from Oldco.  New owner manages the finances of Newco subject to business plan agreed with EFL. Oldco is wound up, Q distributing monies due. That’s exactly what Wigan did.

[RoyMac5]

7 minutes ago, AndyinLiverpool said:

I can't blame the players for wanting out.

Promise after promise, deadline after deadline. No players, no plan. The stench of decay around the place must be overwhelming.

And with the accounting equivalent of Stan and Ollie running the club, where's stability? If it's anywhere, it's a long way over the horizon.

They could, errr request a transfer?

[BucksRam]

11 minutes ago, S8TY said:

Nixon always answers in such a cryptic manner it can be interpreted different ways I think the blokes a c*** and hopefully we will be saved soon …hallelujah! and then maybe he can bore someone else!!!

Said before, it's quite a skill - gives him a multitude of get outs and I told you so's. I do hate the way people suck up to him with "Hey Al..." as if he's their best mate.  One wrong word and he blocks you. Fingers, toes and pubes all crossed that we will be moving on from all this soon and we no longer need to look for Nixon or Percy's cryptic comments, refresh Twitter every 30 seconds, or indeed have to listen to SJ's views on TalkSport.  I can't wait to just talk about the football; how long since we've done that?!

[kevinhectoring]

6 hours ago, PistoldPete said:

Ah Kevin your ability to spout garbage is quite amusing at times. How can you cram so many distortions, non-sequiturs and untruths into one single post?

It is obviously not spurious that Q cannot breach confidentiality or GDPR if the bidders do not agree to it. Some of the bidders may agree to waiving their privacy and others may not. Actually Appleby seems to be not too concerned about sharing stuff in the media, but of course Q has to respect the privacy of others , they cannot break the law.  

Q have put the club in breach of the condition by not requiring ‘potential bidders’ to deal with the EFL. For your information. It is spurious to assert q does not have the power to comply with the condition 

It is a game of poker and (on this occasion) one q will probably win. But we don’t want them playing poker with the regulator. Nor do we want them making decisions by reference to their own interests which imho is what has happened here

[Sparkle]

Some rubbish being posted on hear today it seems - TUPE allows an individual to be transferred to a new owner but the new owner cannot make that person accept terms that are of lower value if they don’t want to. They can offer lots of different packages but the individual doesn’t have to accept them if they don’t want to.

[atherstoneram]

1 minute ago, i-Ram said:

Exactly as Pete told you above - A new company is formed. Newco pay monies into Oldco, sufficient to satisfy creditors including football creditors. Newco obtain share and player registrations with EFL APPROVAL transferred from Oldco.  New owner manages the finances of Newco subject to business plan agreed with EFL. Oldco is wound up, Q distributing monies due. That’s exactly what Wigan did.

So no different then to the situation we are in now, the administrators waiting for a bid that satisfies creditors therefore a new club doesn't need to be formed, just a buyout of the old club.

Why are people going on then about a new company being formed?

Wigan were never in administration the "new" club bought the "old" club and subsequently went into administration and wound up.

We can't do that because the administrators, who are custodians of the club, will only sell to someone willing to pay the required amount. You cannot just start a new company up and take over the clubs players and liabilities without the legal consent of the administrators.

 

[Carnero]

9 minutes ago, Sparkle said:

TUPE allows an individual to be transferred to a new owner but the new owner cannot make that person accept terms that are of lower value if they don’t want to.

They won't be offered terms of a lower value though will they. The terms will be EXACTLY THE SAME, the only difference being the company name that's on the contract.

[i-Ram]

6 minutes ago, atherstoneram said:

So no different then to the situation we are in now, the administrators waiting for a bid that satisfies creditors therefore a new club doesn't need to be formed, just a buyout of the old club.

Why are people going on then about a new company being formed?

Wigan were never in administration the "new" club bought the "old" club and subsequently went into administration and wound up.

We can't do that because the administrators, who are custodians of the club, will only sell to someone willing to pay the required amount. You cannot just start a new company up and take over the clubs players and liabilities without the legal consent of the administrators.

I really do think you are beginning to tie yourself in knots, especially the suggestion that Wigan were never in administration the "new" club bought the "old" club and subsequently went into administration and wound up.

Going to back out of this thread again. More conspiracies than at a David Icke Seminar.

[Sparkle]

2 minutes ago, Carnero said:

They won't be offered terms of a lower value though will they. The terms will be EXACTLY THE SAME, the only difference being the company name that's on the contract.

Exactly- that is what I said wasn’t it? - 

[atherstoneram]

Just now, i-Ram said:

I really do think you are beginning to tie yourself in knots, especially the suggestion that Wigan were never in administration the "new" club bought the "old" club and subsequently went into administration and wound up.

Going to back out of this thread again. More conspiracies than at a David Icke Seminar.

Just substitute "oldco" for administrators and all will become clear.

[B4ev6is]

1 minute ago, i-Ram said:

I really do think you are beginning to tie yourself in knots, especially the suggestion that Wigan were never in administration the "new" club bought the "old" club and subsequently went into administration and wound up.

Going to back out of this thread again. More conspiracies than at a David Icke Seminar.

Wigan did go into admin and they did go into L word but they kepted as Wigan.

[Loslobos]

39 minutes ago, B4ev6is said:

Neathier has derby county

 

MK Dons weren't in major financial problems they merely moved the club to a new location as they thought they could get a bigger fan base.

 

AFC Wimbledon were a brand new club created in response to them moving

[nogbad van 50]

41 minutes ago, Grumpy Git said:

Can they all stand on the goal line holding-hands?

They’ll be too busy taking the knee!?

[Carnero]

3 minutes ago, Sparkle said:

Exactly- that is what I said wasn’t it? - 

Sorry I should have quoted this bit too as I was more responding to that:

"They can offer lots of different packages but the individual doesn’t have to accept them if they don’t want to."

[atherstoneram]

2 minutes ago, B4ev6is said:

Wigan did go into admin and they did go into L word but they kepted as Wigan.

The previous company went into liquidation not the company that bought the club.

[Oldben]

Why are we set to play bundersliga teams.

They will demotivate the players.

It's just to get money for Q.

[EnigmaRam]

3 minutes ago, Oldben said:

Why are we set to play bundersliga teams.

They will demotivate the players.

It's just to get money for Q.

Not if we win ?

[Gee SCREAMER !!]

4 hours ago, Animal is a Ram said:

My guesses would be Buchanan and Bielik.

And the clubs borrowing money to pay them to do it. Get f*****.  These A holes clapping the supporters after QPR is the same as those in power clapping the NHS.  

[jono]

15 minutes ago, kevinhectoring said:

Q have put the club in breach of the condition by not requiring ‘potential bidders’ to deal with the EFL. For your information. It is spurious to assert q does not have the power to comply with the condition 

It is a game of poker and (on this occasion) one q will probably win. But we don’t want them playing poker with the regulator. Nor do we want them making decisions by reference to their own interests which imho is what has happened here

Well if it’s a game of poker then it isn’t a regulation is it. Q will and are talking with the EFL, the bidders know they will have to deal with the EFL. The only thing Q have said is that we are legally obliged to keep the details of our bidders commercially private. The Bidders will doubtless make contact with you at the appropriate time. The parameters for retaining our golden share and payment of football creditors are laid out clearly. Other than the fit and proper persons test and the need to make a fixture list there isn’t anything else that is the EFL’s business. The ELF make the rules of the football league but they don’t make the rules on commercial and company law. Now the EFL could decide to turn nasty, vindictive, invent or reinterpret rules … but that isn’t Q’s fault or Derby’s fault. 
 

The EFL should be saying nothing more than : “we await a formal approach from the winning bidder and look forward to working with them as soon as possible.”  Or “we await Q’s confirmation that DCFC intend to start next season in administration (with suitable a suitable funding model) while the proposed takeover negotiations  progress. We stand ready to respond promptly and reasonably to their proposals” 

[Ram-Alf]

7 minutes ago, Carnero said:

They won't be offered terms of a lower value though will they. The terms will be EXACTLY THE SAME, the only difference being the company name that's on the contract.

Spot on, I worked for Interserve, Who were 100s of millions in debt, I was asked if I wanted to transfer closer to home, I did, After 3 months Interserve wanted to TUPE their workers to Italian Servest who worked as cleaners, I decide who I work for, I refused to TUPE over, Unfortunately no one told the Manager of Italian Servest, He came and visited myself while I was still on the books of Interserve to give me a welcome package and details of ringing in to sign in(an awful way of time keeping imo)I told him I wouldn't be transferring over, He asked WHY?, I told him I don't work for $hit companies and Italian Servest are well and truly in that bracket, He then went on a rambling exercise of BS, Then I said bye as I'm off home.

I came in the next Morning and was asked by the Manageress "are Italian Servest taking over the contract" yes they are...Jesus effing Christ was her reply...she had dealings with them at her last Management shop.