The Administration Thread

[CBRammette]

Ive just listened to the relevant question on the Q&A. Disgusted that we settled even a penny but understand it may have been the only way to proceed quickly when the alternative was we went bust. If it wasnt done in full and final settlement of any claims by Wycombe then the lawyers/admins should have a case to answer if there is any chance of them coming back against the club rather than say MM. But to even think of coming back against the club when MM is out of the picture and any further sum would presumably come from current income including our season ticket money is totally immoral.  Any Wycombe fans should be mortified by this suggestion. 

[Elwood P Dowd]

How can WW take any action against the club, the old legal entity that was Derby ended when DC took over and a new legal entity was formed. We know this as it was the basis of Buchanan and Byrnes dispute with the club also Companies House shows the new legal entity.

[Ramos]

Don’t think anything more will happen on it now. Can’t see how it can (no legal expert) but stadium not actually owned by the club, new legal entity, already got a payout (for god knows what reason) - don’t think they’ve got much of a case if they ever had to do anything more. 
 

Lets beat them twice this season and help try to make sure they stay down where they belong. 

[Ram-Alf]

14 minutes ago, Elwood P Dowd said:

How can WW take any action against the club, the old legal entity that was Derby ended when DC took over and a new legal entity was formed. We know this as it was the basis of Buchanan and Byrnes dispute with the club also Companies House shows the new legal entity.

He has legal knowledge of how to proceed in this case, He chanced his arm and received monies...how much is not known to us, DC did what he thought was best for him and DCFC...if it was me and some others on this board I'm pretty sure we'd have took him on.

There may come a time when there's pay back...we play them twice...so we'll see ?  

[Elwood P Dowd]

1 minute ago, Unlucky Alf said:

He has legal knowledge of how to proceed in this case, He chanced his arm and received monies...how much is not known to us, DC did what he thought was best for him and DCFC...if it was me and some others on this board I'm pretty sure we'd have took him on.

There may come a time when there's pay back...we play them twice...so we'll see ?  

He can  have no financial recourse on a company that no longer legally exists. 

[Chellaston Ram]

Parasites

[BucksRam]

Angry at this story.  Had put it all behind me and now gritting my teeth at being reminded of this loathsome leech. Deep breath. 

[May Contain Nuts]

5 hours ago, Tamworthram said:

Also, what the heck is “an ECONOMIC financial settlement”?

Around enough to buy a few tins of paint to give their car park a spruce up, would be my guess.

[Ram-Alf]

21 minutes ago, Elwood P Dowd said:

He can  have no financial recourse on a company that no longer legally exists. 

Well some one somewhere must have thought he had as the deal was in agreement with Q.

Quote from the DET.

"And it had a minimum payment in it. We received that money two days after they closed on their deal. "The reason I can't tell you whether we will get more or not is because I don't know what they ultimately sold for, because the agreement that we had with the administrators was for anything less than $30 million for Derby and its affiliates"

When did the company "no longer exist"

Full story here

https://www.derbytelegraph.co.uk/sport/football/football-news/derby-county-wycombe-rob-couhig-7512397

[Elwood P Dowd]

7 minutes ago, Unlucky Alf said:

Well some one somewhere must have thought he had as the deal was in agreement with Q.

Quote from the DET.

"And it had a minimum payment in it. We received that money two days after they closed on their deal. "The reason I can't tell you whether we will get more or not is because I don't know what they ultimately sold for, because the agreement that we had with the administrators was for anything less than $30 million for Derby and its affiliates"

When did the company "no longer exist"

Full story here

https://www.derbytelegraph.co.uk/sport/football/football-news/derby-county-wycombe-rob-couhig-7512397

If that happened then it would have been a deal with the old legal entity and the settlement would have been, or will be made, as old entity is fully wound up.

if you go the the company’s house website you can see both the old and the new entities.

 

[Sparkle]

7 minutes ago, Elwood P Dowd said:

If that happened then it would have been a deal with the old legal entity and the settlement would have been, or will be made, as old entity is fully wound up.

if you go the the company’s house website you can see both the old and the new entities.

 

Looks like a deal with the administrators and not DC - shameful and shocking in my mind but they didn’t care did they?

if goodwill is a thing in football then the chairman of Wycombe wanderers deserves nothing but a mountain of Ill will from many and misfortune in abundance 

[Ram-Alf]

10 minutes ago, Elwood P Dowd said:

If that happened then it would have been a deal with the old legal entity and the settlement would have been, or will be made, as old entity is fully wound up.

if you go the the company’s house website you can see both the old and the new entities.

 

So who paid this money?, Did this go onto DCs bill as part of the deal and had no choice other than say...up yours, Or Q saying, if you pay this it will smooth over the transaction?

 

[Elwood P Dowd]

4 minutes ago, Sparkle said:

Looks like a deal with the administrators and not DC - shameful and shocking in my mind but they didn’t care did they?

if goodwill is a thing in football then the chairman of Wycombe wanderers deserves nothing but a mountain of Ill will from many and misfortune in abundance 

I totally agree, but whatever happened is done and dusted and we survived and that is the most important thing. ?????

 

[Gee SCREAMER !!]

2 hours ago, Unlucky Alf said:

He has legal knowledge of how to proceed in this case, He chanced his arm and received monies...how much is not known to us, DC did what he thought was best for him and DCFC...if it was me and some others on this board I'm pretty sure we'd have took him on.

There may come a time when there's pay back...we play them twice...so we'll see ?  

Now the chancers after more.  What a total w*** stain  He's very likely caused a serious issue at games with them home and away with his continual verbal diarrhoea.  He can watch the fire burning from his directors box now he's lit the torch paper 

[Ram-Alf]

1 minute ago, Gee SCREAMER !! said:

Now the chancers after more.  What a total w*** stain  He's very likely caused a serious issue at games with them home and away with his continual verbal diarrhoea.  He can watch the fire burning from his directors box now he's lit the torch paper 

Understand the dislike for the man and WW...my dislike for him is at the head of the queue...But!

Has a payment been made?, Is he playing to his audience, Until someone knows from our side and issues a statement...ie DC I'm saying it's bluster for the time being ?

[DanS1992]

He is a yank, which basically translates into cnut. WW are a nothing club and always will be. They should stick to making baskets and leave the football to the proper clubs in L1 (all the other clubs bar them). Hell if they are lucky they might be able to sell some of their shiiiiite wicker baskets to the good old U.S of A. ? Parasites the lot of em. 

[Gee SCREAMER !!]

11 minutes ago, Gee SCREAMER !! said:

Now the chancers after more.  What a total w*** stain  He's very likely caused a serious issue at games with them home and away with his continual verbal diarrhoea.  He can watch the fire burning from his directors box now he's lit the torch paper 

[Ambitious]

1 minute ago, Gee SCREAMER !! said:

I don't mean to be harsh, but he shouldn't be allowed anywhere near kids? 

Bloke looks as suspect as they come. 

[FlyBritishMidland]

38 minutes ago, Unlucky Alf said:

Understand the dislike for the man and WW...my dislike for him is at the head of the queue...But!

Has a payment been made?, Is he playing to his audience, Until someone knows from our side and issues a statement...ie DC I'm saying it's bluster for the time being ?

That’s exactly what I thought.  He likes the sound of his own voice and is saving face.  I’m sure there was an interview with him a matter days before the takeover was completed where he said it was outstanding and he had no idea what was going on.  It would suddenly be strange if he’d got an agreement in principal already in place.  If he did then this would have formed part of the creditors settlement and need to have been agreed with DC.

[Ram-Alf]

17 minutes ago, FlyBritishMidland said:

That’s exactly what I thought.  He likes the sound of his own voice and is saving face.  I’m sure there was an interview with him a matter days before the takeover was completed where he said it was outstanding and he had no idea what was going on.  It would suddenly be strange if he’d got an agreement in principal already in place.  If he did then this would have formed part of the creditors settlement and need to have been agreed with DC.

I contacted my Daughter as she's a Senior Offshore VAT investigator, Also involved in insolvency and Bankruptcy, She looked after Roy Wood from Wizard and a Famous entrepreneur in the West End Theatre, I asked how could we find out...If, How, Who or when this this monies was paid...this is her reply.

Depends on type of accounts filed. They would just write creditors not each person they paid,

If it had gone into insolvency then they would have to show where all assets went to but that didn’t happen, Only the bookkeeper accounts will have those details as per each penny and who etc. HMRC could see that if asked. But I doubt would be in the public eye, Sometimes in the notes section they may say xyz amount given to abc or something. But the accounts won’t be due yet anyways.