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The Administration Thread


Boycie

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2 minutes ago, Tyler Durden said:

Not trying to rain on your parade but why? The solicitor on Radio Derby said that any court case will get thrown out as you can't sue an individual person in a company and it has to be the corporate body.

So we will back to square one with the number of potential bidders being irrelevant unless one is prepared to take on the risk of the claims from Wycombe and Boro which none of them want to do.

And the EFL wants us to name a preferred bidder but they know that no one will chuck their hat in the ring until the issue with Wycombe and Boro is resolved. And the admins won't entertain such claims as its not a prudent use of the clubs resources, we probably can't afford them anyway and they believe it is totally contrary to accounting law.

So we carry on going nowhere fast apart from liquidation 

If it's the same fella, I think he also said Morris could provide a cast iron guarantee to cover the liability and pay this if there is a loss via the club.  Was it the Jonathan fella.

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11 minutes ago, Tyler Durden said:

Not trying to rain on your parade but why? The solicitor on Radio Derby said that any court case will get thrown out as you can't sue an individual person in a company and it has to be the corporate body.

So we will back to square one with the number of potential bidders being irrelevant unless one is prepared to take on the risk of the claims from Wycombe and Boro which none of them want to do.

And the EFL wants us to name a preferred bidder but they know that no one will chuck their hat in the ring until the issue with Wycombe and Boro is resolved. And the admins won't entertain such claims as its not a prudent use of the clubs resources, we probably can't afford them anyway and they believe it is totally contrary to accounting law.

So we carry on going nowhere fast apart from liquidation 

Can you pursue a claim against a Director read this and come to your own conclusion?

https://www.alanboswell.com/news/liabilities-of-company-directors/#Why would someone take legal action against a director of a company?

but that isn’t the point, if Mel provides the winning bider with an indemnity against MFC and WW claims then the winning bider will probably proceed with the takeover.

 

 

Edited by Elwood P Dowd
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4 minutes ago, Gee SCREAMER !! said:

If it's the same fella, I think he also said Morris could provide a cast iron guarantee to cover the liability and pay this if there is a loss via the club.  Was it the Jonathan fella.

 

3 minutes ago, Elwood P Dowd said:

You can pursue a claim against a Director but that isn’t the point, if Mel provides the winning bider with an indemnity against MFC and WW claims then the winning bider will probably proceed with the takeover.

Yes IF Morris offers an indemnity that will solve a great many things. 

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2 hours ago, 1967RAMS said:

As I said before to try and salvage his credibility/reputation. Not an hope in hell it will happen. Him and Gibson have been comparing dick sizes for years. It’s just MM still trying to pretend he’s the bigger man 

He’d only salvage any reputation by creating a legitimate path through the impasse though, making up what he can legally do would make him look worse!

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26 minutes ago, Tyler Durden said:

Not trying to rain on your parade but why? The solicitor on Radio Derby said that any court case will get thrown out as you can't sue an individual person in a company and it has to be the corporate body.

So we will back to square one with the number of potential bidders being irrelevant unless one is prepared to take on the risk of the claims from Wycombe and Boro which none of them want to do.

And the EFL wants us to name a preferred bidder but they know that no one will chuck their hat in the ring until the issue with Wycombe and Boro is resolved. And the admins won't entertain such claims as its not a prudent use of the clubs resources, we probably can't afford them anyway and they believe it is totally contrary to accounting law.

So we carry on going nowhere fast apart from liquidation 

I just can’t see this going on much longer and something has to give sooner rather than later. 

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3 minutes ago, Bald Eagle's Barmy Army said:

I just can’t see this going on much longer and something has to give sooner rather than later. 

It doesn't though. The admins haven't been candid about how much money we still need to generate to make the end of the season. The avenue of selling players to keep us alive has been shut off now. At some point we will just run out of operating cash before this is resolved and that will be that.

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16 minutes ago, Gee SCREAMER !! said:

If it's the same fella, I think he also said Morris could provide a cast iron guarantee to cover the liability and pay this if there is a loss via the club.  Was it the Jonathan fella.

He said that Mel already had provided an indemnity and that therefore it is now down to Q and the bidders what to do next and that the Efl and M/WW weren’t able to influence their decision. He said that Mel was using plain rather than legal language to describe an indemnity.

All positive except I don’t think he’s correct.  I don’t think Mel has (yet) offered any indemnity. He might have moved in that direction but I think that Mel has offered the opportunity to M/WW to sue him in the HC rather than using EFL arbitration and by doing so lift the risk on dcfc and the bidders - a shift but not an indemnity.  Yet. Mel is keen to take any decision making away from the efl processes cos he doesn’t trust them and his statement made it sound as if any financial cover was contingent upon using the HC. But then I’m not a solicitor and he said he was.

The first solicitor - Hilary - said that M/WW would be badly advised to take Mel up on his offer.
 

 

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1 hour ago, Nuwtfly said:

 

He says Mike Ashley likes all the emails from Derby fans asking him to take over, I know some people have there doubt, but I reckon he'd be perfect for Derby right now......I say he gets inundated with messages of support from Derby fans, and as someone mentioned earlier maybe chanting his name tomorrow night at PP  ???

Edited by BriggRam
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