The Debt.

[BWFC_Insane]

http://www.theboltonnews.co.uk/sport/14 ... er_battle/" onclick="window.open(this.href);return false;

[twilight]

....Except for the fact that these parachute payments have been "mortgaged off" whatever that means???? (again allegedly) Maybe some expert can try and confirm this somewhere

[Athers]

Sounds like borrowing money against them as they're guaranteed future income. Is to improve cash position (cash is oxygen for business as we're seeing) but is really not ideal. I remember Leeds doing it with future ST sales.

[bobo the clown]

Is it only me and Insano that have social media, or can anyone else see all this shit?

we rely on you two modern things to keep us abreast of the twitterati...

Yeah, you hipster.

You'll be living in Shoreditch and sporting a long beard next, to go with those huge spacers in your ear lobes.

[thebish]

I, for one, will gram any bit of good-sounding news and believe it until it deosn't happen!

so - I am gladdened that there is now talk of 3 or even 4 bidders - when before there was only whispering of two. maybr the much-maligned club is actually doing summat right - in that this last two weeks and the presence of Birch have made things happen and flushed out some actual bidders. if that's so - I say well done Birch! nowt was happening at all before he arrived...

[BWFC_Insane]

I, for one, will gram any bit of good-sounding news and believe it until it deosn't happen!

so - I am gladdened that there is now talk of 3 or even 4 bidders - when before there was only whispering of two. maybr the much-maligned club is actually doing summat right - in that this last two weeks and the presence of Birch have made things happen and flushed out some actual bidders. if that's so - I say well done Birch! nowt was happening at all before he arrived...

Think there has been talk of 3 or 4 interested parties for a while. The situation seems to have forced hands.

Lennon in his interview said that the buyer will need to put down a "deposit" like buying a house in order to pay the bills and wages etc. Sounds like this is the £10M (or whatever amount being talked about). Fingers crossed things do now happen.

[thebish]

I, for one, will gram any bit of good-sounding news and believe it until it deosn't happen!

so - I am gladdened that there is now talk of 3 or even 4 bidders - when before there was only whispering of two. maybr the much-maligned club is actually doing summat right - in that this last two weeks and the presence of Birch have made things happen and flushed out some actual bidders. if that's so - I say well done Birch! nowt was happening at all before he arrived...

Think there has been talk of 3 or 4 interested parties for a while. The situation seems to have forced hands.

Lennon in his interview said that the buyer will need to put down a "deposit" like buying a house in order to pay the bills and wages etc. Sounds like this is the £10M (or whatever amount being talked about). Fingers crossed things do now happen.

well - it's the first time I've seen the numbers 3 and 4 mentioned in this respect on here.

and i still say - good job Birch for making summat happen, even if there is a brink involved - there usually is when summat like this happens.

[Hoboh]

Neil Lennon says things are looking more optimistic re a takeover with a potential announcement next week.

He says 3 or 4 interested parties and it is "first past the post".

Rubbish, Lennon clearly knows now't, your pal Nixon the knob has said we are going bust so it cannot be true!

Are your reading and comprehension skills really that poor?

Excuse me knobhead you were spouting us bang by Friday, in that case Lennon's next week would be of fcuk all use!

[BWFC_Insane]

Neil Lennon says things are looking more optimistic re a takeover with a potential announcement next week.

He says 3 or 4 interested parties and it is "first past the post".

Rubbish, Lennon clearly knows now't, your pal Nixon the knob has said we are going bust so it cannot be true!

Are your reading and comprehension skills really that poor?

Excuse me knobhead you were spouting us bang by Friday, in that case Lennon's next week would be of fcuk all use!

He said we would enter administration by Friday IF money wasn't received.

The Bolton News said early next week. Whatever the date that is very different to "bust by Friday under any circumstances".

And of course Friday may have been set as a deadline in order to flush people out. The point was and is that hopefully a deal is going to happen in time to save us from administration.

[jonnycooper]

It's still raining I see!

[Il Pirate]

57 pages of total shee ite and conjecture. Nobody apart from those involved know what's going on. As for 10 million, Amir would probably earn near 3 times that if he were to fight Manny Paquio in Vegas. It'll be reet. Although before we get an outcome, good or bad, this thread could give Plymouth's transfer saga a run for it's money........

[ChrisC]

57 pages of total shee ite and conjecture. Nobody apart from those involved know what's going on. As for 10 million, Amir would probably earn near 3 times that if he were to fight Manny Paquio in Vegas. It'll be reet. Although before we get an outcome, good or bad, this thread could give Plymouth's transfer saga a run for it's money........

[Enoch]

They're his second team!

[StaffsTrotter]

57 pages of total shee ite and conjecture. Nobody apart from those involved know what's going on. As for 10 million, Amir would probably earn near 3 times that if he were to fight Manny Paquio in Vegas. It'll be reet. Although before we get an outcome, good or bad, this thread could give Plymouth's transfer saga a run for it's money........

ha. canny lad covering his options

[Athers]

FWIW he went to Istanbul to watch Liverpool in the CL final.

[Bruce Rioja]

FWIW he went to Istanbul to watch Liverpool in the CL final.

To be fair, had someone offered me a free jaunt to watch Liverpool in the CL Final, I reckon I'd have had a do.

[Athers]

True, I would've enjoyed the first half I reckon

[ChrisC]

I don't give a shiny shite who he does or doesn't support.. Give us your dosh Amir!! :p

[Shutt666]

Been reading for some while, even more so in such troubled times, but never took the time to register and join in.

Seen the same question cropping up a few times and as an Accountant thought I should register to repay some of the information I have leeched from you in the past.

First the Inland Revenue has a duty to the taxpayers to not worsen their position. So if Dec 1st they are owed say £1m and by Jan 1st that has risen to £1.1m they are obliged to take action, generally administration, to protect taxpayers money. They were given this power in return for giving up their rights as a preferential creditor, although there was talk last year about returning that right.

Secondly a few people ask why Eddie Davies would wind up his own company and lose all his investment. One reason why he would choose to do this is any Director of a Company can be held personally liable for any increase in the debt from the point he knows, or is expected to know, that the business is trading insolvently. Another reason is if the a business enters voluntary administration the Directors can choose the administrators provided crditors do not object. So if he knows the IR is about to wind the company up first, he can step in first.

I am not an expert on administration, but assuming legistlation is as it was when I was the accountant for the once mighty Gretna FC in 2007/08, this was the case then.

[Worthy4England]

Good info, Shutt. Thanks for posting.