Ken Anderson - Old Owner (Definitely. For Ever ..... )

[BWFC_Insane]

Hilary was begging for admin!

Aye, I find that interesting. Begging for admin because she feared liquidation?

I think that was called covering her bases. I think its unlikely the court would agree to appoint an administrator without HMRC approval (they almost certainly would not) and without assurances about viability which seems unlikely - unless a creditor is prepared to pay for it....

It was clear from comments that she was very worried about liquidation today. No witness statements were offered and I'm guessing without Macron's (the company not President) we'd have been days away from the receivers being appointed.

[Worthy4England]

Hilary was begging for admin!

Aye, I find that interesting. Begging for admin because she feared liquidation?

Interesting, given that the popular "view" was that no one could afford Admin (or to come out of Admin)...maybe they were thinking of part funding, until takeover...

[BWFC_Insane]

Hilary was begging for admin!

Aye, I find that interesting. Begging for admin because she feared liquidation?

Interesting, given that the popular "view" was that no one could afford Admin (or to come out of Admin)...maybe they were thinking of part funding, until takeover...

The rules on a court appointed administrator may be different - given the EFL implemented the rules for admin to stop it being an easy way out of debt for clubs - I'm not sure if a court appointment would lower the % required to pay back to creditors and shorten the term of admin?

[Dave Sutton's barnet]

Hilary was begging for admin!

Aye, I find that interesting. Begging for admin because she feared liquidation?

Interesting, given that the popular "view" was that no one could afford Admin (or to come out of Admin)...maybe they were thinking of part funding, until takeover...

The rules on a court appointed administrator may be different - given the EFL implemented the rules for admin to stop it being an easy way out of debt for clubs - I'm not sure if a court appointment would lower the % required to pay back to creditors and shorten the term of admin?

Possible.

Also possible that liquidation is worse for Ken than admin.

Also possible that Hilary went rogue, having seen Mrs Wheater's heartfelt tweet-plea before the case.

[TANGODANCER]

A very silly-sounding question, but, with all that's now on the surface (mainly) and the whole thing sounding more like a Dick Barton series daily, and also trying desperately not to sound traitorous, (is that a word?) who in their right mind would want to buy Bolton Wanderers football club?

[TonyDomingos]

A very silly-sounding question, but, with all that's now on the surface (mainly) and the whole thing sounding more like a Dick Barton series daily, and also trying desperately not to sound traitorous, (is that a word?) who in their right mind would want to buy Bolton Wanderers football club?

No one. And that's the problem: it's people of unsound mind who are showing greatest interest.

I am reminded of Philip Green selling BHS to Dominic Chappell.

[TANGODANCER]

This is decidedly worrying, re our barrister:

"However, she said further time was needed for due diligence and "gathering together of some funds to recapitalise the company and enable it to pay the money owed to HMRC and other creditors."

?

[Dave Sutton's barnet]

This is decidedly worrying, re our barrister:

"However, she said further time was needed for due diligence and "gathering together of some funds to recapitalise the company and enable it to pay the money owed to HMRC and other creditors."

?

Just before it:
"Ms Stonefrost told the judge that since the last hearing sale agreement terms had been reached in respect of the shares."

In other words - if all are to be believed, including Ken who yesterday said "I have accepted an offer" – Ken has agreed a price with Bassini to buy the club... now the new guy needs to check the closets ("due diligence") then transfer the money to the club ("recapitalise") and immediately back out again to those we've been stiffing ("HMRC and other creditors", a significant one of which handily helped Hilary hold off the judge today).

Trouble is, there's supposed to be a game kicking off in 72 hours. And at the moment we've no players to play it, or staff to make it legally possible. Unless *someone* plays them. Ken will say it's not his job; Bassini may well worry about throwing money at a deal he's not yet signed off (due-dil). It's an impasse.

[Lost Leopard Spot]

So a bloke who went out of his way to hide his identity gave his name to the first stranger that asked and a barrister got down and begged for forgiveness.

Really.

What would Rumpole have made of it all!

I do believe sir, that he would have concluded it was all fiction!

[TANGODANCER]

Trouble is, there's supposed to be a game kicking off in 72 hours. And at the moment we've no players to play it, or staff to make it legally possible. Unless *someone* plays them. Ken will say it's not his job; Bassini may well worry about throwing money at a deal he's not yet signed off (due-dil). It's an impasse.

How on earth can it not be his job to pay for work already done? If you sell your house you still have to pay gas and electric bills etc, to the day you leave. It is Ken's job despite his squirming and lying and what I can't understand is where that stands within the law?

[Dave Sutton's barnet]

KEN KOLUMN KLAXON!

https://www.bwfc.co.uk/news/2019/april/ ... chairman2/

I am grateful for the High Court’s decision this morning to adjourn the hearing until May 8, which gives us the time to finalise the deal for the sale of my shares to the interested buyers, who have committed to buying the club and clearing all the debts including the substantial amounts that were there before I got involved with the club and secured on the stadium, hotel and training ground.

It was interesting to be told that Terence Rigby of the Supporters’ Trust had contacted our barrister yesterday evening saying that they ‘have partners who have shown serious interest and do have funds’, particularly as we have always made it absolutely clear to them that if that was the case and they could show proof of funds and go through the same process as everybody else, that we would be delighted to meet them.

Unfortunately, the usual proof of funds information required in these matters has never been provided.

Likewise, l would like to make it absolutely clear that the so-called mystery buyer Gaspard Holdings are ‘not on the verge of completing a deal’ and virtually everything else they said in the report was total nonsense.

Unfortunately, they have been making similar promises for at least two years and in all that time the people concerned have never been able to provide any satisfactory proof of funds and have wasted a great deal of everyone’s time.

In the meantime, everyone at the club is doing everything possible to try to ensure that this weekend’s match against Ipswich Town and next Tuesday’s against Middlesbrough go ahead as normal, but this may now depend on whether the players see sense and stay loyal to the supporters and season ticket holders and return to full training tomorrow.

For my part, I continue to be positive and think that we still have a good chance of retaining our Championship status and also believe that my decision not to place the club in administration and incur a 12 points deduction was the correct one.

If l had have placed the club in administration, it would have meant that the club would have incurred a 12-point deduction either this season or next depending on the timing and my aim is and always will be to try and ensure that this did not happen for obvious reasons.

As soon as l have anything further to add, l will as always do it through the club’s mediums and not the media or on social media to ensure that the club’s loyal supporters are the first to hear.

Ignoring the swipes at tyre-kickers, fantasists and Supporters' Trusts (draw your own Venn diagram there), the key phrases here might be:

"gives us the time to finalise the deal for the sale of my shares to the interested buyers"
- he said yesterday he had already agreed, but we'll let that pass a a slip of the keyboard

"buying the club and clearing all the debts including the substantial amounts that were there before I got involved with the club and secured on the stadium, hotel and training ground."
- ignore the swipe: if true, this wipes all debts, which is not a bad start

"In the meantime, everyone at the club is doing everything possible to try to ensure that this weekend’s match against Ipswich Town and next Tuesday’s against Middlesbrough go ahead as normal, but this may now depend on whether the players see sense and stay loyal to the supporters and season ticket holders and return to full training tomorrow."
- given Ken's history, I can't help think that sounds (possibly accidentally) a bit like a threat: no training, no game on... I'm so bored of this shit-kicking...

[Dave Sutton's barnet]

Trouble is, there's supposed to be a game kicking off in 72 hours. And at the moment we've no players to play it, or staff to make it legally possible. Unless *someone* plays them. Ken will say it's not his job; Bassini may well worry about throwing money at a deal he's not yet signed off (due-dil). It's an impasse.

How on earth can it not be his job to pay for work already done? If you sell your house you still have to pay gas and electric bills etc, to the day you leave. It is Ken's job despite his squirming and lying and what I can't understand is where that stands within the law?

For the record, I'm not siding with Ken.

I'm not sure where the law stands (for a start, are they paid in arrears or advance?) but I'm fairly confident that if he can find a buyer willing to pay the missing wages, that's legal. Thing is, the wages need paying or the game's off...

[Lost Leopard Spot]

Ok
I have no more idea than any of you over what is ACTUALLY gonna happen.
But. Here is my take.
We play the rest of the season.
Nobody buys us.
Anderson runs up more debts.
Parkinfxckingson stays welded to the helm.
All remaining home games are played behind closed doors.
Season ticket holders don't have payments taken
Payments for next two games already taken are repayed.
Some players become free agents because they haven't been paid.
This makes no difference to our results because they were the wankers who were consistently losing anyfxckingway.
We get relegated.
The EFL put forward a plan at that makes BWFC and Coventry the first clubs since Leeds City to be expelled from the League.
We get expelled.
We get liquidated.
In summer some cxnt from Dubai or China or Argentina with loadsa' dosh from worldwide reconstruction funds relaunches BWFC2 in League whatever with a fifteen year plan to be Premier Champions (that, or have less tax to pay on their Ill gotten billions).

Cheerful aren't I.

[Enoch]

For the record, I'm not siding with Ken.

Who'd a guessed!

[Dave Sutton's barnet]

For the record, I'm not siding with Ken.

Who'd a guessed!

I try to be balanced

[Lost Leopard Spot]

I'm actually more in tune with Ken than anybody.
I really believe there is nobody out there wanting to buy us.
I mean FFS, some cxnt with an address at a derelict farm are our saviours! Bassini, red hat himself, our saviour?
Nobody gives a fxck enough to divest themselves of millions on the chance they might, just possibly, become millionaires with an extra quid or two...

At least, so far, we are still trading, with a potential future.
I understand people think that Ken's a total K**t. I'm not yet konvinced.

[BWFC_Insane]

I'm actually more in tune with Ken than anybody.
I really believe there is nobody out there wanting to buy us.
I mean FFS, some cxnt with an address at a derelict farm are our saviours! Bassini, red hat himself, our saviour?
Nobody gives a fxck enough to divest themselves of millions on the chance they might, just possibly, become millionaires with an extra quid or two...

At least, so far, we are still trading, with a potential future.
I understand people think that Ken's a total K**t. I'm not yet konvinced.

Ken is. He can be that and it can also be the case that finding buyers for a loss making football club is virtually impossible.

Bassini is in - but whether he has genuine funds that can satisfy the league and he can prove those funds are above board - ????????????????????????

[officer_dibble]

Ken’s done another kolum.

Nothing about paying anyone, nothing (of substance) about Saturdays game...

Players fault for not training!

But can i be the first to thank him for not putting us in to administration?

[Prufrock]

Can't read DSB's "KEN KOLUMN KLAXON" in anything other than John Oliver or Andy Zaltzman's voice.

Which apt given that usually precedes bullshit.

[Lost Leopard Spot]

I'm actually more in tune with Ken than anybody.
I really believe there is nobody out there wanting to buy us.
I mean FFS, some cxnt with an address at a derelict farm are our saviours! Bassini, red hat himself, our saviour?
Nobody gives a fxck enough to divest themselves of millions on the chance they might, just possibly, become millionaires with an extra quid or two...

At least, so far, we are still trading, with a potential future.
I understand people think that Ken's a total K**t. I'm not yet konvinced.

Ken is. He can be that and it can also be the case that finding buyers for a loss making football club is virtually impossible.

Bassini is in - but whether he has genuine funds that can satisfy the league and he can prove those funds are above board - ????????????????????????

Bassini is, in my opinion, a bigger k**t than Ken. He also has less a pot to piss in than the current owners of a ramshackle chateaux in Iceland.