The Administration Thread

[i-Ram]

13 minutes ago, kevinhectoring said:

As a general rule insolvency practitioners don’t assume any liabilities under sales contracts. Their contracts typically contain a provision that says the purchaser has done their own DD and that they are not relying on any warranties etc from the IP. We don’t know whether MM has agreed to give any warranties - that could happen. I doubt we’ll ever know 

As a general rule yes, but my point was very specifically linked to challenging the view that Q might try to exaggerate the positives and gloss over the negatives

[CornwallRam]

13 minutes ago, i-Ram said:

I know what you are saying here, I mean the bit in bold, but the legal reality is they will be doing neither of those two things. They have to accurately present the position of the Club, warts and all. To be anything but totally honest and transparent would leave them potentially open to being sued by the buyer. 

I think you're conflating the sales pitch and the paperwork.

Quantuma give us the balloons, the pearly white smile and idea that brown is a highly sought after colour. The sales contract will have the correct APR, chassis number and MOT date. 

They don't tell us that Derby County owe HMRC 28,452,380.17 or that the interest rate to MSD is 14.7%, but they would tell any serious bidders.

However, before they get to that stage, they've been telling Ashley about sell out crowds, the best academy in the Midlands and the ability to increase capacity to 47,000.

They also tell us that everything is going well and that a PB is imminent, close, almost there etc.

[Gritstone Ram]

10 minutes ago, i-Ram said:

As a general rule yes, but my point was very specifically linked to challenging the view that Q might try to exaggerate the positives and gloss over the negatives

You are right. They seem too confident in their own abilities which they are confusing with their ambitions.

[jimtastic56]

20 minutes ago, ilkleyram said:

So far as we know MM is being as generous as Abramovich.

Abramovich is offering the 'net proceeds' of the sale to help war victims (including or perhaps mainly Russian victims). Important word is 'net' in this case as it suggests strongly that any donations will only happen after all costs of sale are accounted for. That won’t be cheap, probably more than £20m.

He's also suggesting that he won’t ask for loans to be repaid. I don’t think Mel is asking for any of the money he’s spent back either.

perhaps Mel did the decent thing first. Perhaps that’s where Abramovich got the idea from.

 

Not quite. Abramovich is leaving one and a half £Billion on the table.

[Guest]

3 hours ago, TomTom92 said:

Ashley was supposed to be named PB on Friday but it collapsed. He’s still interested however. Wonder what the issue is?

This may just be Mike doing the Ashley dance that he performs at the closure of every deal he negotiates - 'In-out, in-out, shake-it-all- about' which he sings until he is satisfied that he has squeezed the best deal possible and then he makes his mind up. If he is still interested at this stage, as has been suggested, it's my bet that he wants it and what he wants he usually gets unless the asking price is ridiculous. The fact that he's allegedly still on the dance floor makes me think he wants it and just needs to waltz around Q and twist Mel one more time before he starts the jive with the Derby Fans.

Then he's the Boss 'n Ova to Mike.

Edited March 2, 2022 by Brailsford Ram

[Big Trav]

Just been assured that we’ll be fine. No one apart from people within the admins know why it’s taking longer than usual. Someone may have made a higher bid. Equally someone may have pulled out. Being kept very quiet within the admins camp. 

[angieram]

7 minutes ago, jimtastic56 said:

Not quite. Abramovich is leaving one and a half £Billion on the table.

As a proportion of his overall wealth Morris is leaving behind more. 

[CBRammette]

1 hour ago, Rambalin said:

Few more pounds in Mike's bank account 

 

Perhaps why he was busy Friday! Or he wanted these liquid funds. We havent defamation as a drama yet so this is new. 

[Ram-Alf]

5 minutes ago, Brailsford Ram said:

This may just be Mike doing the Ashley dance that he performs at the closure of every deal he negotiates - 'In-out, in-out, shake-it-all- about' which he sings until he is satisfied that he has squeezed the best deal possible and then he makes his mind up. If he is still interested at this stage, as has been suggested, it's my bet that he wants it and what he wants he usually gets unless the asking price is ridiculous. The fact that he's allegedly still on the dance floor makes me think he wants it and just needs to waltz around Q and twist Mel one more time before he starts the jive with the Derby Fans.

Very Suck...suk...suclin...succin, Well said ?

[deanoakaram4life]

7 minutes ago, Big Trav said:

Just been assured that we’ll be fine. No one apart from people within the admins know why it’s taking longer than usual. Someone may have made a higher bid. Equally someone may have pulled out. Being kept very quiet within the admins camp. 

You heard who it is?

[Jimbo Ram]

7 minutes ago, Big Trav said:

Just been assured that we’ll be fine. No one apart from people within the admins know why it’s taking longer than usual. Someone may have made a higher bid. Equally someone may have pulled out. Being kept very quiet within the admins camp. 

Very reassuring Big Trav ? At last I will get some sleep tonight now ??

[KBB]

10 minutes ago, Big Trav said:

Just been assured that we’ll be fine. No one apart from people within the admins know why it’s taking longer than usual. Someone may have made a higher bid. Equally someone may have pulled out. Being kept very quiet within the admins camp. 

Thanks for passing on the info. Much  appreciated. I know the "ITK" tag is a difficult one to have as you get moaned at for not sharing, moaned at for sharing and moaned at for not being true. Thanks for sharing.

Anything else drop me a PM. ?

[europia]

10 minutes ago, angieram said:

As a proportion of his overall wealth Morris is leaving behind more. 

.....and an even bigger mess. 

[atherstoneram]

3 minutes ago, Brailsford Ram said:

This may just be Mike doing the Ashley dance that he performs at the closure of every deal he negotiates - 'In-out, in-out, shake-it-all- about' which he sings until he is satisfied that he has squeezed the best deal possible and then he makes his mind up. If he is still interested at this stage, as has been suggested, it's my bet that he wants it and what he wants he usually gets unless the asking price is ridiculous. The fact that he's allegedly still on the dance floor makes me think he wants it and just needs to waltz around Q and twist Mel one more time before he starts the jive with the Derby Fans.

I still think HMRC will be the stumbling block. NIC rise in April and the Chancellor today has ordered HMRC to inform every company to print on payslips the rise is to pay for the NHS. I can't see them accepting 25% and i think certain people in government are watching developments closely as they won't want to be seen raising NI then letting the club pay only a % of the amount owed as politicians and the general public will start asking questions.

[Guest]

In an effort to preserve my sanity, I've kept away from this thread for the last 24 hours. I've just recapped on today's offerings and the mood seems very down.

Come on folks, look on the bright side of life, none of us would want to swop places with a Dynamo Kiev fan tonight.

[i-Ram]

14 minutes ago, Big Trav said:

Just been assured that we’ll be fine. No one apart from people within the admins know why it’s taking longer than usual. Someone may have made a higher bid. Equally someone may have pulled out. Being kept very quiet within the admins camp. 

 

[CBRammette]

1 minute ago, atherstoneram said:

I still think HMRC will be the stumbling block. NIC rise in April and the Chancellor today has ordered HMRC to inform every company to print on payslips the rise is to pay for the NHS. I can't see them accepting 25% and i think certain people in government are watching developments closely as they won't want to be seen raising NI then letting the club pay only a % of the amount owed as politicians and the general public will start asking questions.

They didnt seem too worried about the billions of covid fraud which I would say is more of an issue as without that prob wouldnt even need a rise. HMRC make settlements all the time

[Jimbo Ram]

2 minutes ago, atherstoneram said:

I still think HMRC will be the stumbling block. NIC rise in April and the Chancellor today has ordered HMRC to inform every company to print on payslips the rise is to pay for the NHS. I can't see them accepting 25% and i think certain people in government are watching developments closely as they won't want to be seen raising NI then letting the club pay only a % of the amount owed as politicians and the general public will start asking questions.

Not the NHS, it’s for care generally isn’t it….

[atherstoneram]

1 minute ago, Jimbo Ram said:

Not the NHS, it’s for care generally isn’t it….

That is what the Chancellor ordered HMRC to do.

[Crewton]

7 minutes ago, atherstoneram said:

NIC rise in April and the Chancellor today has ordered HMRC to inform every company to print on payslips the rise is to pay for the NHS.

Is there a shortage of buses all of a sudden?