Ewetube Posted January 22, 2022 Share Posted January 22, 2022 7 minutes ago, DarkFruitsRam7 said: 99% of the people accused of having an agenda against Derby do not have an agenda against Derby. 100% of people making up statistics make up statistics. DarkFruitsRam7, ariotofmyown, ramit and 2 others 1 4 Link to comment Share on other sites More sharing options...
Ram-Alf Posted January 22, 2022 Share Posted January 22, 2022 Wow that was some snappy deleting, If it's because of the GIF, It's your Gif in the "little square box that's says GIF" Link to comment Share on other sites More sharing options...
Bob The Badger Posted January 22, 2022 Share Posted January 22, 2022 53 minutes ago, DarkFruitsRam7 said: Christ, that doesn’t paint Mel in a good light! Leonardo dd Vinci couldn't paint MM in a good light mate. And Leonardo DiCaprio couldn't make him look good on screen. David Graham Brown, Maharan, kevinhectoring and 1 other 4 Link to comment Share on other sites More sharing options...
duncanjwitham Posted January 22, 2022 Share Posted January 22, 2022 31 minutes ago, G STAR RAM said: I'm not an administrator, so do not fully understand the Statement of Affairs filed at Companies House. Not sure if you know the answer or not, but why is the £20m NOT shown as a liability if it is owed by the club? It is shown. It's quite early on in the document. It's not listed in the big long list of creditors, because that's just the unsecured ones: Link to comment Share on other sites More sharing options...
G STAR RAM Posted January 22, 2022 Share Posted January 22, 2022 24 minutes ago, i-Ram said: You are an accountant though. What’s your point, as I am out at the mo, for the next hour or two, so only have my phone at hand ?. Perhaps copy the page or pages for ease. Yes, and accountant and administrator, are very different jobs. I've never had an experience of administration, so I don't understand what the statement of affairs shows exactly. My point though is that the MSD debt is not shown as a liability in the statement of affairs but appears higher up as a charge against our assets. Therefore my unqualified conclusion would be that it is not a debt of the club but that is why I have asked if anyone can confirm. I have highlighted the liabilites section in the attached document. Link to comment Share on other sites More sharing options...
RoyMac5 Posted January 22, 2022 Share Posted January 22, 2022 (edited) 4 minutes ago, duncanjwitham said: It is shown. It's quite early on in the document. It's not listed in the big long list of creditors, because that's just the unsecured ones: I'm getting so confused by all this, my accounting skills are limited although a long time ago I was an employee of HMCE! ? What does that mean? Edit: Think iRam explained it in his post. Edited January 22, 2022 by RoyMac5 Link to comment Share on other sites More sharing options...
RoyMac5 Posted January 22, 2022 Share Posted January 22, 2022 1 minute ago, G STAR RAM said: Yes, and accountant and administrator, are very different jobs. I've never had an experience of administration, so I don't understand what the statement of affairs shows exactly. My point though is that the MSD debt is not shown as a liability in the statement of affairs but appears higher up as a charge against our assets. Therefore my unqualified conclusion would be that it is not a debt of the club but that is why I have asked if anyone can confirm. I have highlighted the liabilites section in the attached document. Does that really say 'Goodwill Book value - '? ? IslandExile 1 Link to comment Share on other sites More sharing options...
RoyMac5 Posted January 22, 2022 Share Posted January 22, 2022 5 minutes ago, G STAR RAM said: Yes, and accountant and administrator, are very different jobs. I've never had an experience of administration, so I don't understand what the statement of affairs shows exactly. My point though is that the MSD debt is not shown as a liability in the statement of affairs but appears higher up as a charge against our assets. Therefore my unqualified conclusion would be that it is not a debt of the club but that is why I have asked if anyone can confirm. I have highlighted the liabilites section in the attached document. Does that mean the MSD debt is secured against the Club assets, but not the asset (stadium) that the loan was for? Link to comment Share on other sites More sharing options...
Mihangel Posted January 22, 2022 Share Posted January 22, 2022 2 hours ago, Eatonram said: Did I hear right that £28m was described as the “asking price”? What does this cover? Maguire said not even enough to cover football debts?? Clearly and obviously, Maguire knows as much about what this £28m means as most of the rest of us. Nothing. G STAR RAM, RoyMac5 and Crewton 2 1 Link to comment Share on other sites More sharing options...
Ewetube Posted January 22, 2022 Share Posted January 22, 2022 1 minute ago, Mihangel said: Clearly and obviously, Maguire knows as much about what this £28m means as most of the rest of us. Nothing. Has £28 million actually been confirmed by anyone or is it just "thought to be"? Apologies if I've missed it somewhere, it's getting hard to keep up with everything. RoyMac5 1 Link to comment Share on other sites More sharing options...
G STAR RAM Posted January 22, 2022 Share Posted January 22, 2022 23 minutes ago, duncanjwitham said: It is shown. It's quite early on in the document. It's not listed in the big long list of creditors, because that's just the unsecured ones: Yes I did reference that line but was not sure if that was an actual liabilty of DCFC or just a debt that is secured against our assets? Link to comment Share on other sites More sharing options...
G STAR RAM Posted January 22, 2022 Share Posted January 22, 2022 16 minutes ago, RoyMac5 said: Does that mean the MSD debt is secured against the Club assets, but not the asset (stadium) that the loan was for? Think it is secured against both. Link to comment Share on other sites More sharing options...
i-Ram Posted January 22, 2022 Share Posted January 22, 2022 16 minutes ago, G STAR RAM said: Yes, and accountant and administrator, are very different jobs. I've never had an experience of administration, so I don't understand what the statement of affairs shows exactly. My point though is that the MSD debt is not shown as a liability in the statement of affairs but appears higher up as a charge against our assets. Therefore my unqualified conclusion would be that it is not a debt of the club but that is why I have asked if anyone can confirm. I have highlighted the liabilites section in the attached document. Thanks for posting this. I am still out and about this morning. I am neither an Accountant or Administrator, but as a former Banker (queue the comments) it seems to me that the way it is being shown is that the MSD Loan, which is to the Club, has SPECIFIC assets against which they have first and only call against under a) their fixed charges, and b) their floating charge. The loan is being shown separated at the top of the pile as preferential and unsecured creditors are not entitled to rely on those assets, until the MSD loan has been repaid and then any surplus is only available once MSD are satisfied. The Administrators then usefully list the liabilities in a pecking order thereafter (note not taking into account the EFLs requirements for dealings with football creditors which are a lot more preferential in their rule book than it is in the real world). I could say more, but I think that answers your query. RoyMac5 and G STAR RAM 1 1 Link to comment Share on other sites More sharing options...
Bald Eagle's Barmy Army Posted January 22, 2022 Share Posted January 22, 2022 I can’t wait for the day where we aren’t continually talking about off field issues and can solely talk about the team, the results and why is it so difficult to get hold of home and away tickets especially now we’ve extended the capacity to 40k at PP. I’m sure that day isn’t too far away. Jimbo Ram and ariotofmyown 1 1 Link to comment Share on other sites More sharing options...
Jimbo Ram Posted January 22, 2022 Share Posted January 22, 2022 Have the administrator made any comment at all ? Link to comment Share on other sites More sharing options...
Geoff Parkstone Posted January 22, 2022 Share Posted January 22, 2022 For what it's worth I believe the MSD debt is not a debt if DCFC but a debt of one of the Gellaws. It is secured against the stadium and also the DCFC assets and potentially I guess MM personally. It's shown this way as the debt could crystallise against DCFC assets but is not an explicit liability of DCFC. In that way it is a limiting factor on the value of the assets secured, and thus available to football and general creditors. Were the primary debt cleared, eg MSD take control of the stadium, the DCFC asset impairment would go away. However this may not be the case with further MSD funding since that statement of affairs was drawn up. But I agree it's far from transparent, but what else would you expect! Link to comment Share on other sites More sharing options...
Anag Ram Posted January 22, 2022 Share Posted January 22, 2022 After the excitement of yesterday….. nothing. No comment from the administrators (who one would imagine were desperate for good news to spread), nothing from the club. Nothing to see here, move on. Funny how every time Armageddon nears, a bid rumour emerges. First Ashley, now Carlisle. Big flurry of excitement then silence, like a disappointing firework. I’m sure there are any number of good reasons, but as a fan it’s ruining my excitement about the game today. There. That’s off my chest ? David Graham Brown and Gaspode 1 1 Link to comment Share on other sites More sharing options...
duncanjwitham Posted January 22, 2022 Share Posted January 22, 2022 9 minutes ago, G STAR RAM said: Yes I did reference that line but was not sure if that was an actual liabilty of DCFC or just a debt that is secured against our assets? My reading (not an expert etc) is the same is @i-Ram's. It's listed like that because it isn't a liability in the sense it's something we need to pay (in cash). The stadium (and any other assets it's secured against) will effectively cover it if it comes down to liquidation. It's still £20m that needs to be accounted for if we don't get liquidated though. Link to comment Share on other sites More sharing options...
I know nuffin Posted January 22, 2022 Share Posted January 22, 2022 1 hour ago, i-Ram said: @David the guy who posted this, who apparently knows nuffin, might have a point. Let’s close down the forum until we are out of administration, as Sooner or later the truth will come out and there is nothing we can do about it I know nufgin so you know everyfin so can you tell me:- how much the Binnie bid is and your source of that number. 2. The percentage we are paying HMRC and your source. 3. Why the administrators (and this is a guess) appear to have accepted the Binnie figure. Let me know so I know sumfin. Thank you David Graham Brown 1 Link to comment Share on other sites More sharing options...
ollycutts1982 Posted January 22, 2022 Share Posted January 22, 2022 1 minute ago, I know nuffin said: I know nufgin so you know everyfin so can you tell me:- how much the Binnie bid is and your source of that number. 2. The percentage we are paying HMRC and your source. 3. Why the administrators (and this is a guess) appear to have accepted the Binnie figure. Let me know so I know sumfin. Thank you You are Steve Gibson and I claim my Lady Godiva. David Graham Brown 1 Link to comment Share on other sites More sharing options...
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