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The Administration Thread


Boycie

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1 hour ago, Flying Fokker said:

Forgive me for painting a slightly different picture

 

I really hope that The Rams find someone of course, but Due Diligence and Fit and Proper ownership are the watch words from our/ the fans perspective.  The angst and anger is still around now.  Your Administrators need to start earning their money. 

We had one called Appleton and he hung around for years after coming out of Administration.   Acquire the ground, keep focusing on balancing the books but don't do what the Sky Blues owners did.  It was all an 11th hour thing for the club and anything was better than nothing of course...5 seasons in the Championship, then a drop to league 1 for a few years and then to 2 before the progress back to where they started. 15 years earlier... SISU Capital is the name.  Did nothing but save us from liquidation.  Turned out some terrible teams with equally poor managers when things were really bad.  Going to Northampton and Birmingham filled those club's coffers but did naff all for the club in it's home town.

 

 

 

i see my alter ego has escaped again........?

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4 minutes ago, RadioactiveWaste said:

Good point, i think it's 100% to football craditors, 25% to unsecured creditors. Secured creditors either agree an amount or accept their security, HMRC are just after football creditors (before unsecured) and don't have a 100% requirment, but are preferential and drive a hard bargain. That's what i understand, but happy to be corrected.

You're dead right the MSD debt is a tricky one, unless an agreement has been made with MM.

 

I believe the government minister stated quite clearly from the dispatch box that HRMC will not be the reason Derby goes out of business, which does suggest they will accept a much lower figure and i would imagine this has already been negotiated given we have received a formal bid, they must know what this amount will be, they wouldn't have bid if they hadn't. 

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37 minutes ago, Topram said:

You’d think it might make Ashley and Appleby make there move now 

If their willing to front up 28 million without a stadium and with ongoing claims. I'll take it.  Get it done asap.  You may find that someone could offer more.  It won't be ratified over this one by the EFL unless their also willing to take on these claims and creditors will take what's  been offered, if it covers there agreed payments to avoid delays and a liquidated business.

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8 minutes ago, Animal is a Ram said:

c£20m of MSD debt is on the stadium, which is not DCFC, it's Mel. If Binnies don't purchase the stadium, it'll pay rent to MM.

There is apparently a soft loan against Moor Farm. This is against DCFC, I think.

100% to HMRC (unless there's a deal), Football Creditors (Arsenal, Lech?)

Thanks buddy, but c£20m of MSD debt is on the club, and covered by Mel and the stadium. That will make moving forward problematic, but not impossible. Mel and MSD aren’t in my opinion going to much like a “buy Club only” offer ?

Edited by i-Ram
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2 minutes ago, Gee SCREAMER !! said:

If their willing to front up 28 million without a stadium and with ongoing claims. I'll take it.  Get it done asap.  You may find that someone could offer more.  It won't be ratified over this one by the EFL unless their also willing to take on these claims and creditors will take what's  been offered, if it covers there agreed payments to avoid delays and a liquidated business.

Read somewhere that the best way to buy the stadium was to buy the company owning the stadium as it saved tax as the stadium owner being a company did not change. Also thought early on that Morris would sell in return for the load being paid off. He would get nothing

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12 minutes ago, Eddie said:

I've still got a couple of the Lidl boxes from last June - 1 x GD Quad, 1 x GD, 1 x Piraat, 1 x Piraat Tripel Hop, 1 x Bornem Tripel, 1 x Bornem Dubbel in each box. Then I'm breaking into the dozen boxes I bought in November. Will they last until next Father's Day? Not a chance.

I bought a bunch just before Christmas, trying to pace myself but they go down too easily, especially in this current climate!

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