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The Administration Thread


Boycie

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2 hours ago, europia said:

Fairly certain that Boro & Wycombe owners both know that their case would have less than zero chance of success in a civil court. They wont want to go down the legal route. 

Surely if the EFL are saying they are football creditors it is up to us to go down the legal route.

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7 hours ago, atherstoneram said:

Surely if the EFL are saying they are football creditors it is up to us to go down the legal route.

Genuine question. What legal route are you thinking WE could go down? It’s them threatening to sue us so wouldn’t we have to wait for them to take action which they can’t whilst we’re in administration?

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26 minutes ago, Tamworthram said:

Genuine question. What legal route are you thinking WE could go down? It’s them threatening to sue us so wouldn’t we have to wait for them to take action which they can’t whilst we’re in administration?

I was just replying to the post about a civil court case

At the moment it's a stalemate,the EFL are suggesting they are football creditors with the administrators disagreeing, lets hope arbitration sorts it out,what happens if the result goes against us?. I don't think it would be in our interest in any case for us to take the court route.

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44 minutes ago, Tamworthram said:

Genuine question. What legal route are you thinking WE could go down? It’s them threatening to sue us so wouldn’t we have to wait for them to take action which they can’t whilst we’re in administration?

I reckon the admins will easily arrange court consent to allow the claim to be heard (assuming M/W  agree to bring it) 

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Just now, RoyMac5 said:

Can someone (we've all had a go!) explain to me how the 'creditors' thing works when a business is in administration? How would it be dealt with? Have Boro and Wycombe submitted invoices for the money they think we owe them?

PMSL Roy, What would the invoice say, From Paddy Power for Boro...expected earnings for promotion £45m.

                                                                            VAT No...T W A T 666

                                                                   From Thief,Extortion and Robber USA Lawyers for WW for relegation £6m.

                                                                            VAT No ...A S S W I P E 999

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11 minutes ago, Unlucky Alf said:

PMSL Roy, What would the invoice say, From Paddy Power for Boro...expected earnings for promotion £45m.

                                                                            VAT No...T W A T 666

                                                                   From Thief,Extortion and Robber USA Lawyers for WW for relegation £6m.

                                                                            VAT No ...A S S W I P E 999

? Are the amounts vat-able then - more tax to be gained! 

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24 minutes ago, jimtastic56 said:

I have seen a report that our debts are over £80 mill. If we said £30m Tax, £20m soft loans , £10m Beilik &Joz . Does that mean we owe Cocu and all the little businesses £20million?

According to the statement of affairs (dated November 2021) lodged with companies house and my untrained eye, the main creditors seem to be:

HMRC                                      £27m

MSD.                                        £20m

Players registrations                 £8m

SEVCO (?)                                 £8m

Advanced season ticket sales £6m

Club DCFC (?).                        £4m

Accruals                                  £4m

Trade creditors                       £4m

Looking at the list of trade creditors, they range from £727k (Wasserman) down to £5 (Willshee Waste and Recycling).

 

 

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32 minutes ago, Jubbs said:

Wonder if our accounts have been published to the EFL.

Embargo tracker says no.

https://www.efl.com/-more/governance/embargoes/ 

Quote

Derby County

Regulation 16.2 - Failure to provide audited annual accounts

Regulation 16.3 - Annual Accounts not filed with Companies House

Regulation 17 - Default in payments to HMRC

Profit and Sustainability Rules - non-submission of audited accounts

Club in administration

 

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6 minutes ago, Tamworthram said:

According to the statement of affairs (dated November 2021) lodged with companies house and my untrained eye, the main creditors seem to be:

HMRC                                      £27m

MSD.                                        £20m

Players registrations                 £8m

SEVCO (?)                                 £8m

Advanced season ticket sales £6m

Club DCFC (?).                        £4m

Accruals                                  £4m

Trade creditors                       £4m

Looking at the list of trade creditors, they range from £727k (Wasserman) down to £5 (Willshee Waste and Recycling).

 

 

I imagine the MSD has gone up - suspect this will be closer to £30m

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