Bubbles Posted February 26, 2022 Share Posted February 26, 2022 On 25/02/2022 at 10:50, atherstoneram said: Being named as preferred bidder doesn't alter anything,they still have to satisfy the EFL and come to an agreement with a business plan regarding exiting administration. The administrators are still in charge until someone is actually named as the owner of the club. I see. Thanks for clarifying mate Link to comment Share on other sites More sharing options...
CornwallRam Posted February 26, 2022 Share Posted February 26, 2022 That article misses the point. It's about the HMRC debt. They effectively claim that the issue is the unsecured creditors. That is only a small difference. Paying them 15% rather 25% is probably less that a £million. No bidder is going to lose 15 points to save that. The difference is that a CVA gives HMRC a veto. I don't believe that HMRC will agree to anything less than 100%. That means about £60m to get a CVA. I believe that the viable alternative is a restructuring plan which squeezes HMRC into being just another unsecured creditor. That is against current EFL guidelines and will result in a 15 point penalty, but should enable a takeover to go through for about £30m. Honestly, I don't think we need to worry about the existence of the club - there are three credible parties able to complete a takeover. However, I can't see any way that we will avoid the 15 point penalty. Link to comment Share on other sites More sharing options...
PistoldPete Posted February 26, 2022 Share Posted February 26, 2022 6 minutes ago, CornwallRam said: That article misses the point. It's about the HMRC debt. They effectively claim that the issue is the unsecured creditors. That is only a small difference. Paying them 15% rather 25% is probably less that a £million. No bidder is going to lose 15 points to save that. The difference is that a CVA gives HMRC a veto. I don't believe that HMRC will agree to anything less than 100%. That means about £60m to get a CVA. I believe that the viable alternative is a restructuring plan which squeezes HMRC into being just another unsecured creditor. That is against current EFL guidelines and will result in a 15 point penalty, but should enable a takeover to go through for about £30m. Honestly, I don't think we need to worry about the existence of the club - there are three credible parties able to complete a takeover. However, I can't see any way that we will avoid the 15 point penalty. Nixon mostly gets his stuff from EFL. Who do not have any idea really, and it mostly isn't anything to do with them. There is potential for further penalty (up to a maximum of 15 points) if unescured creditors do not get 25p in the £1 . That is very unlikley though as you say, and not what I would expect based on what Q have been saying. . r_wilcockson 1 Link to comment Share on other sites More sharing options...
one_chop Posted February 26, 2022 Share Posted February 26, 2022 We are as a club entering our death throes. I've said all along Liquidation is coming over the horizon. Ships about to port guys. GenBr, RoyMac5, r_wilcockson and 2 others 5 Link to comment Share on other sites More sharing options...
Chester40 Posted February 26, 2022 Share Posted February 26, 2022 2 minutes ago, one_chop said: We are as a club entering our death throes. I've said all along Liquidation is coming over the horizon. Ships about to port guys. I saw the icon of a chop on the main categories... I expected good breaking news... Not this! PS Wouldn't a skull and crossbones or grim reaper sickle be more apt? Link to comment Share on other sites More sharing options...
Mckram Posted February 26, 2022 Share Posted February 26, 2022 Confident that Nixon’s leak is at the EFL now after that story. Derby4Me 1 Link to comment Share on other sites More sharing options...
Jimbo Ram Posted February 26, 2022 Share Posted February 26, 2022 8 minutes ago, one_chop said: We are as a club entering our death throes. I've said all along Liquidation is coming over the horizon. Ships about to port guys. Attention seeking still One Chop, why don’t you find a new interest, knitting perhaps ? Derby4Me 1 Link to comment Share on other sites More sharing options...
TomTom92 Posted February 26, 2022 Share Posted February 26, 2022 Baffling that Ashley or whoever would take the -15 points. It makes next season a complete waste of time and another depressing experience. Jimbo Ram 1 Link to comment Share on other sites More sharing options...
GenBr Posted February 26, 2022 Share Posted February 26, 2022 9 minutes ago, one_chop said: We are as a club entering our death throes. I've said all along Liquidation is coming over the horizon. Ships about to port guys. Chester40 1 Link to comment Share on other sites More sharing options...
Rambalin Posted February 26, 2022 Share Posted February 26, 2022 16 minutes ago, one_chop said: We are as a club entering our death throes. I've said all along Liquidation is coming over the horizon. Ships about to port guys. Link to comment Share on other sites More sharing options...
Tamworthram Posted February 26, 2022 Share Posted February 26, 2022 1 hour ago, BuckoBeast said: So we start on -15 next season? If there is to be a new season Only if we don't meet the appropriate criteria in terms of how much creditors get. Old news and has always the case. Link to comment Share on other sites More sharing options...
jimtastic56 Posted February 26, 2022 Share Posted February 26, 2022 46 minutes ago, PistoldPete said: Usual garbled stuff from Nixon. Admin team has said they are not expecting any more penalties. Football creditors are quite low now .. what £5 m or £6 milion. £8 mill to Arsenal for Beilik and money for Kamil, doesn’t seem to add up? Link to comment Share on other sites More sharing options...
Gritstone Ram Posted February 26, 2022 Share Posted February 26, 2022 17 minutes ago, Chester40 said: I saw the icon of a chop on the main categories... I expected good breaking news... Not this! PS Wouldn't a skull and crossbones or grim reaper sickle be more apt? It looks like a pork chop too. Link to comment Share on other sites More sharing options...
Carnero Posted February 26, 2022 Share Posted February 26, 2022 (edited) 3 minutes ago, jimtastic56 said: £8 mill to Arsenal for Beilik and money for Kamil, doesn’t seem to add up? I think we were told that a chunk was paid off for Joswiak in January, using the withheld tv money. Bielik fee wasn't £8m up front, as part of his fee included add-ons that will be nowhere near being met so far. Edited February 26, 2022 by Carnero r_wilcockson and RoyMac5 1 1 Link to comment Share on other sites More sharing options...
PistoldPete Posted February 26, 2022 Share Posted February 26, 2022 4 minutes ago, jimtastic56 said: £8 mill to Arsenal for Beilik and money for Kamil, doesn’t seem to add up? That's because those figures are from the EFL press, Percy, Durham and co. From Quantuma's statement in November we owed about £8m in total so how it was ever £8 m for Beilik alone only Percy will be able to tell you. Since November we have made further large payments to Arsenal, Lech and Wigan. So my guess is between £5 m and £6 m owed, but check with Ghost of Clough who is our accounting guru. jimtastic56 1 Link to comment Share on other sites More sharing options...
sage Posted February 26, 2022 Share Posted February 26, 2022 32 minutes ago, one_chop said: We are as a club entering our death throes. I've said all along Liquidation is coming over the horizon. Ships about to port guys. hintonsboots 1 Link to comment Share on other sites More sharing options...
PistoldPete Posted February 26, 2022 Share Posted February 26, 2022 24 minutes ago, Mckram said: Confident that Nixon’s leak is at the EFL now after that story. Oh yes. Qunatuma maintaining confidentiality , but EFL leaking like a sieve and probably inaccurate too. Indyram, r_wilcockson and jimtastic56 2 1 Link to comment Share on other sites More sharing options...
Tamworthram Posted February 26, 2022 Share Posted February 26, 2022 I hope it's not a bad omen but I've just started listening to The Trillion Dollar Conman about the Notts County takeover after they had been in administration for well over a year on BBC sounds. Link to comment Share on other sites More sharing options...
Foreveram Posted February 26, 2022 Share Posted February 26, 2022 38 minutes ago, one_chop said: We are as a club entering our death throes. I've said all along Liquidation is coming over the horizon. Ships about to port guys. If you were on the ship you’d be made to walk the plank. Link to comment Share on other sites More sharing options...
Mucker1884 Posted February 26, 2022 Share Posted February 26, 2022 1 hour ago, Papahet said: FFS this club can't catch a break. How the heck hasn't Rooney walked? Guy must be losing his mind at the continuous bs and delays *FFP! Turnstile 1 Link to comment Share on other sites More sharing options...
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