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The Administration Thread


Boycie

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Beginning to think that our best chance will be towards the end of the season. If Middle Borough look like sneaking into the POs, tell them to drop the claims or we liquidate, throwing the league into chaos and any points they got from us would be lost. If that’s the difference between MFC making the playoffs or not they’d soon drop the fairytale claim.

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14 minutes ago, Unlucky Alf said:

Nothing about Admin...but I find it incredible that the UK Government are writing off £8.7 billion yes £8.7 billion concerning the Pandemics PPE, Shear bloody madnes, Our £60m debt is a drop in the Ocean

Yep. I think it's nearer £13Bn when all the spend that's been wasted in is added up, which is more or less what Sunak's budget is adding to everyone's cost of living. But, yeah, Derby County are the real problem....

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1 minute ago, BramcoteRam84 said:

Brilliant. This is exactly what’s needed one of the Buyer’s (Binnies) breaking cover and confirming the state of play from the buyer’s perspective. This may well have even been contrived by or at least certainly endorsed by Quantuma. Puts the focus back on the EFL Boro and Wycombe if a buyer is openly saying no investor will buy the club with this situation on the claims.

or is this them having a go at Quantuma for not having a plan to get the spurious claims dismissed

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12 minutes ago, duncanjwitham said:

The EFL (and the 2 cretin chairmen) are still saying that HMRC and the stadium deal are the biggest obstacles.  The admins are saying the major obstacle is the 'Boro/Wycombe issue. The fact that one of the bidders is apparently confirming what the admins are saying must give it some credibility.

Agreed.

Not entirely sure how Gibson/Couhig can claim to know what the hold up is at our end, they will not be party to the discussions Quantuma have had with HMRC and Mel. 

Now we have a bidder squarely placing the blame onto the claims from Boro and Wycombe, it’s difficult to see how the EFL can also continue to hide behind other issues the club must deal with.

It’s been blatantly obvious for weeks now, regardless of what those 3 are trying to push out there in the media. 

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3 minutes ago, StaffsRam said:

And any deal that Q have with the creditors is reliant on the outcome of any decision re the MFC/WW claims, so the EFL statement about “other factors” is disingenuous at best.

The fact that all the factors are interlinked and any changes to one have implications for the others make "X" is the problem statements all a bit meaningless - with the exception that the MFC/WW claims are of unknown status as creditors and amount of liability - any offers to settle by MFC/WW are problems due to their unconfirmed status as creditors.

Were they to be a) confirmed as football creditors or unsecured creditors and b) agree a settlement (or a judgment is reached) then things could proceed, however, all the major creditors would have to agree new terms based on the new numbers.

Without both a and b resolved, the uncertainty is a major impediment to any deal.

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2 minutes ago, Curtains said:

From the Independent Article 

“But it is understood they are concerned that, as far as they see it, no meaningful movement has occurred since and that Boro and Wycombe’s decision to pursue those actions is driving Derby towards liquidation.”

2-4 days was the quote from Hoskins on Saturday wasn’t it? I’m sure he said they were looking to kick off the arbitration procedure in that timeframe. So can we get an update please? Have they been started or not? If not, why not, and what’s the new plan/timeframe?

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5 minutes ago, BramcoteRam84 said:

Brilliant. This is exactly what’s needed one of the Buyer’s (Binnies) breaking cover and confirming the state of play from the buyer’s perspective. This may well have even been contrived by or at least certainly endorsed by Quantuma. Puts the focus back on the EFL Boro and Wycombe if a buyer is openly saying no investor will buy the club with this situation on the claims.

Its a calculated play to put pressure on Quantuma for me. The Binnies offer is a gamble based on the cases disappearing. they can probably do this because they aren't planning on risking more capital upfront with the stadium purchase. They must be frustrated as they've put their cards on the table early (possibly hoping they were the only bidder by the deadline) I guess Quantuma are hoping to get more money from the other two bidders so are dragging it out to give the others as much confidence around the court cases as possible 

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1 minute ago, swanny said:

Its a calculated play to put pressure on Quantuma for me. The Binnies offer is a gamble based on the cases disappearing. they can probably do this because they aren't planning on risking more capital upfront with the stadium purchase. They must be frustrated as they've put their cards on the table early (possibly hoping they were the only bidder by the deadline) I guess Quantuma are hoping to get more money from the other two bidders so are dragging it out to give the others as much confidence around the court cases as possible 

The optimal outcome would include the stadium. Hence, out of the three bids, the Binnie bid will be less favourable, and the Ashley bid will be as well as it’s understood that he’s lowballing the Q fees and the stadium price. Hence, Appleby as PB, if and when the MFC/WW claims can be resolved.

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A lot of signs, especially after what came out last night from that Athletic chappy (his name eludes me at the minute), are starting to point to Mike Ashley.

IF the admins are taking the take as long as possible, hope creditors get bored route, surely they will get less too,  if the reports that MA wants to pay less to the admins and for the stadium.

Either way, this brinksmanship is good for nearly nobody. It's not good for fans, it's not good for creditors, it's not good for the club, and as above, not good for the admins. 

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6 minutes ago, RadioactiveWaste said:

The fact that all the factors are interlinked and any changes to one have implications for the others make "X" is the problem statements all a bit meaningless - with the exception that the MFC/WW claims are of unknown status as creditors and amount of liability - any offers to settle by MFC/WW are problems due to their unconfirmed status as creditors.

Were they to be a) confirmed as football creditors or unsecured creditors and b) agree a settlement (or a judgment is reached) then things could proceed, however, all the major creditors would have to agree new terms based on the new numbers.

Without both a and b resolved, the uncertainty is a major impediment to any deal.

How long would that take mate. 
 

HMRC must have  a provisional deal in place with Administrators already .

 

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“Nottingham Forest FC and Derby County FC have been fined £10,000 each for two breaches of FA Rule E20.1 that occurred during their EFL Championship game on 22 Janaury 2022.

"Both clubs admitted that they failed to ensure their playrs conducted themselves in an orderly fashion during the 96th minute and following the final whistle.

"An Independent Regulatory Commission imposed their respective sanctions during a subsequent hearing."

Forest won the game 2-1 and Derby had Ravel Morrison sent off in added time at the end of the contest.”

 

https://www.derbytelegraph.co.uk/sport/football/football-news/Derby-county-fa-nottingham-forest-6596359

Edited by Curtains
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39 minutes ago, duncanjwitham said:

The EFL (and the 2 cretin chairmen) are still saying that HMRC and the stadium deal are the biggest obstacles.  The admins are saying the major obstacle is the 'Boro/Wycombe issue. The fact that one of the bidders is apparently confirming what the admins are saying must give it some credibility.

Suspect the source has commented for that exact reason to get focus on these claims

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The Administrators could be using the Binnies to put pressure on the EFL to aribitrate

OR.......it might just be true;  the Binnies really are getting frustrated.

Kirchner was frustrated with the Administrators. Rooney is clearly frustrated with the Administrators.

There were stories that Ashley was frustrated. Heck, I am frustrated.

Even if the hold up is the EFL and the arbitration process, the Administrators should be communicating - at the very least to Rooney and any/all of the interested bidders. Ideally, to all of us.

It's no use the Administrators having a preferred bidder in mind and ignoring the others.....what if the preferred bidder pulls out? Then what?

This whole thing wreaks.

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12 minutes ago, IslandExile said:

Kirchner, the Binnies and Rooney

Tbf, they ARE talking to Wayne - “Hi, is that Wayne? Yes? Yeah, we’ve sold another one….”

Its bad when even the above quote is only partially true, they got someone else to speak to him for them ? 
 

Am I mis-remembering, or didn’t Q say that they were about to begin a more proactive communication campaign? Who with exactly…?

Edited by StaffsRam
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