The Administration Thread

[kingsy1884]

I am not advacating it and i fully expect the EFL or another club to do us over but if it looks like we are going down is it worth trying to go for -15 this season and not really pay the creditors the full amount?

[Ram-Alf]

I've seen the film "Get Shorty" what the "L" was that about

[PistoldPete]

1 minute ago, duncanjwitham said:

It's not the bidders seeking clarity, it's the admins seeking clarify *from* the bidders.

Ah yes I misread it thank you. 

[duncanjwitham]

2 minutes ago, kingsy1884 said:

I am not advacating it and i fully expect the EFL or another club to do us over but if it looks like we are going down is it worth trying to go for -15 this season and not really pay the creditors the full amount?

I don't think it works like that.  Going from the EFL's answers here (since we don't have their actual insolvency policy to look at):

http://www.leytonorientfanstrust.com/documents/LOFT_SGM_Mar17_QA.pdf

The -15 is normally applied the following season.

[IslandExile]

16 minutes ago, duncanjwitham said:

So what do people actually want the admins to do?

We just wanted an update from them.

What they said in their statement to the DET is fine. It was just a long time coming and appears to have been prompted by their meeting with Team Derby.

Just an occasional (weekly?) update from them would take less than 5 minutes and would help. I am sure they can handle the rest of the process perfectly well but their communication is somewhat lacking.

[Ambitious]

1 hour ago, Animal is a Ram said:

 

"shortly" ?

How many synonyms for 'imminent' do you think they can get through before all this comes to a head? I'll go for 28. 

[BramcoteRam84]

This is deal to purchase a football club. There will be lots of particulars that need sorting out and there will no doubt be some caveats which require clarity. The administrators have to do the due diligence to make sure all the particulars are covered in the bids and that it is likely to meet the requirements of the creditors. There could be some leverage on Mel here as well, for example Mike Ashley may well be making a higher offer that would be better for creditors but a caveat could be Mel takes a haircut on the stadium. It is not a simple here’s what I’m paying make a decision in 30 minutes.

As @duncanjwithamsays we need this preferred bidder to be the right one, we can’t go through 4 like Wigan did. The way Quantuma has conducted the process by keeping it open for so long has been to (hopefully) ensure we select the right one that satisfies all stakeholders. We could’ve selected Kirchner in November and that falls on its arse, likewise Appleby in Jan and then be on our third and having the perception of two failed bids would further reduce leverage in the negotiations.

The only thing Quantuma are guilty of IMO is the communication at times and potentially being over optimistic at the outset. No issue with how they’ve run the process and who are we to really question it.

[Derbados]

Interestingly enough I thought what the general wider perception of Quantuma was from other customers or businesses that have used their services. 

first thing i noticed is that Derby fans are leaving scathing reviews via trust pilot, but also that the issues we are experiencing with them follow a very common trend. 

this is a review from 2018

 

[Curtains]

Seems a fair enough statement.

Glad we still have bidders.  

Administrators just clarifying a few points  with the bidders is also what you would expect 

I think I said before that the bids might not be quite what the Administrators wanted but beggars can’t be choosers .

Still think it will be Ashley 
 

Edited March 2, 2022 by Curtains
Predictive text issue

[BramcoteRam84]

Just now, Derbados said:

Interestingly enough I thought what the general wider perception of Quantuma was from other customers or businesses that have used their services. 

first thing i noticed is that Derby fans are leaving scathing reviews via trust pilot, but also that the issues we are experiencing with them follow a very common trend. 

this is a review from 2018

 

So why are they an internationally renowned company with lots of customers? Not everyone has a good experience and reviews are subjective and don’t consider all the facts. Bit unfair to pick a bad review from 3 years ago and say this represents their performance and general perception of them.

[vonwright]

Sounds like the administrators are trying to 'clarify' that any bid is sufficient to prevent a 15 point penalty. It's quite possible none of the bids are big enough to satisfy creditors and/or EFL rules. 

I understand people's frustration but I can't see how this is the administrators' fault. They can't force people to bid more. I don't believe they are sitting on a bid that would solve our problems in the hope of earning the club, or themselves, some extra £££.

We are not an attractive investment right now - even more so now relegation is extremely likely. 

[Crewton]

It seems unlikely that people whose companies are being liquidated would write glowing reviews for the Liquidators, certainly not on "TrustPilot". That's not to say they aren't worthy of criticism, just don't expect the executed to praise the Executioner.

We can only really judge them when the end game has been played out.

[hintonsboots]

7 minutes ago, Crewton said:

We can only really judge them when the end game has been played out.

48 hours ?

[Gritstone Tup]

1 hour ago, kingsy1884 said:

I am not advacating it and i fully expect the EFL or another club to do us over but if it looks like we are going down is it worth trying to go for -15 this season and not really pay the creditors the full amount?

Wasn’t there a cut off date of about mid March when we were in a similar position last season?

Edited March 2, 2022 by Gritstone Tup

[CornwallRam]

1 hour ago, duncanjwitham said:

I don't think it works like that.  Going from the EFL's answers here (since we don't have their actual insolvency policy to look at):

http://www.leytonorientfanstrust.com/documents/LOFT_SGM_Mar17_QA.pdf

The -15 is normally applied the following season.

Interesting that it says the guidelines for  a pheonix club involve dropping no more than three divisions. 

Starting again in the Conference doesn't seem too disastrous as worse case scenarios go.

[Gritstone Tup]

Over the last 6 months all news about dcfc has just been repeated over and over. 48 hours, end of the week, we’ll announce a PB(when they knew there never was one). We could have been liquidated yesterday and yet no one rushed to our rescue. If there isn’t a new billionaire prepared to wash his hands of £60million, then my opinion is just ignore what the administrators have to say, the ups and downs are dreadful for our sanity and well being imo!

[Gritstone Tup]

8 minutes ago, CornwallRam said:

Interesting that it says the guidelines for  a pheonix club involve dropping no more than three divisions. 

Starting again in the Conference doesn't seem too disastrous as worse case scenarios go.

So why did Bury drop to tier 10?

How old is that paper Duncan?

Edited March 2, 2022 by Gritstone Tup

[Stive Pesley]

9 minutes ago, CornwallRam said:

Interesting that it says the guidelines for  a pheonix club involve dropping no more than three divisions. 

Starting again in the Conference doesn't seem too disastrous as worse case scenarios go.

That's not quite what it says is it? - They ask if that is the guideline and the response says

In these circumstances, the League in which a club is to be placed is at the absolute discretion of the Leagues Committee of The FA

I think that's good news in a way - I've been berated for suggesting that the FA would not place a phoenix club the size of Derby in non-league. It would be disastrous for the other clubs - their facilities simply wouldn't cope with the number of fans

The other part of interest is the timings

The issue is addressed at Regulation 6.3 (i) (page 177/178). An initial application would need to be made to The FA (Leagues Committee) by 1 March or within 21 days of the liquidation of the Former Club if later. A full application would be required by 31 March or within 21 days of the liquidation of the Former Club if later

Which means, if we're going to liquidate - it has to be soon if we want to play any football next season

 

Edited March 2, 2022 by Stive Pesley

[CornwallRam]

Just now, Gritstone Tup said:

So why did Bury drop to tier 10?

Because they are not a proper pheonix club. They were formed before Bury were liquidated. 

[RadioactiveWaste]

I think there's a difference between "start from scratch" teams and "bought out of liquidation" phoenix teams?

Either way, I'm sure it won't come to that, I think the worst is starting league 1 next season on -15, which is not a great outcome anyway.

Starting league 1 on 0 points is what I expect.

But, there's still a chance of starting championship.

I doubt we'd see the starting in the championship on -15 points, if the PB is not paying creditors enough to avoid it I think the team might start to give up hope.