The Debt.

Where fellow sufferers gather to share the pain, longing and unrequited transfer requests that make being a Wanderer what it is...

Moderator: Zulus Thousand of em

Post Reply
BWFC_Insane
Immortal
Immortal
Posts: 25837
Joined: Mon Jul 09, 2007 4:07 pm

Re: The Debt.

Post by BWFC_Insane » Thu Dec 31, 2015 11:54 pm

jonnycooper wrote:Administration could see assets being sold for as little as 20% of their value so it would make little or no sense,for Ed to allow it to happen! Although some of the decisions made recently by the Club have made little sense!
Eddie isn't getting the money back regardless at this stage so it makes absolutely no difference to him whatsoever.

Prufrock
Immortal
Immortal
Posts: 20001
Joined: Tue Mar 25, 2008 11:51 pm

Re: The Debt.

Post by Prufrock » Fri Jan 01, 2016 2:09 am

Jesus wept man you're hard work.

He's not getting the 170m back, but he needs to get someone to take on the£-1m a month, so he needs a business people want to take on.

He could go into voluntary administration, but that means the lot gets sold: the lot. Clough, the training ground, the pompoms the Reebok rebels used to wear, the lot. You know we just sold some offices, and you asked what's the difference between adminstration, the difference is ALL the offices. And the playing staff. And everything. We come our t owning nothing that isn't nailed down.

Voluntary administration only makes sense when the only alternative is involuntary administration. Otherwise you're selling off the same assets, but in control.

There's nothing, btw, to stop ED or any buyer from arranging an ad hoc CVA with creditors to stop a12 point deduction that means they get a few more pence in the pound.

Hmrc won't take it, but the rest might. Admin is mental. How you still don't get this I don't know. If you could just cancel debts by filling in a form, David and George would have fixed it (I assume you didn't go to school with them).
In a world that has decided
That it's going to lose its mind
Be more kind, my friends, try to be more kind.

thebish
Immortal
Immortal
Posts: 37588
Joined: Fri Jul 07, 2006 9:01 am
Location: In my armchair

Re: The Debt.

Post by thebish » Fri Jan 01, 2016 9:49 am

Prufrock wrote: He could go into voluntary administration, but that means the lot gets sold: the lot. Clough, the training ground, the pompoms the Reebok rebels used to wear, the lot. You know we just sold some offices, and you asked what's the difference between adminstration, the difference is ALL the offices. And the playing staff. And everything. We come our t owning nothing that isn't nailed down.

bugger! are our offices not nailed down!! :shock:
Some people are like Slinkies … not really good for anything, but you can’t help smiling when you see one tumble down the stairs.

User avatar
Lost Leopard Spot
Immortal
Immortal
Posts: 18436
Joined: Wed May 09, 2012 11:14 am
Location: In the long grass, hunting for a watering hole.

Re: The Debt.

Post by Lost Leopard Spot » Fri Jan 01, 2016 10:16 am

Most of our defence are nailed down.
That's not a leopard!
頑張ってください

thebish
Immortal
Immortal
Posts: 37588
Joined: Fri Jul 07, 2006 9:01 am
Location: In my armchair

Re: The Debt.

Post by thebish » Fri Jan 01, 2016 10:24 am

one thing that's often puzzled me is this...

why don't we just go into voluntary administration? it seems such a simple and obvious solution...
Some people are like Slinkies … not really good for anything, but you can’t help smiling when you see one tumble down the stairs.

TonyDomingos
Passionate
Passionate
Posts: 2021
Joined: Fri Jul 13, 2007 9:27 pm
Location: Sarf East London

Re: The Debt.

Post by TonyDomingos » Fri Jan 01, 2016 11:05 am

thebish wrote:one thing that's often puzzled me is this...

why don't we just go into voluntary administration? it seems such a simple and obvious solution...
:lol:

Because the obvious solution is to sell off some of our assets each month to cover our outgoings?
Às armas, às armas!
Sobre a terra, sobre o mar,
Às armas, às armas!
Pela Pátria lutar!
Contra os canhões marchar, marchar!

BWFC_Insane
Immortal
Immortal
Posts: 25837
Joined: Mon Jul 09, 2007 4:07 pm

Re: The Debt.

Post by BWFC_Insane » Fri Jan 01, 2016 11:18 am

Prufrock wrote:Jesus wept man you're hard work.

He's not getting the 170m back, but he needs to get someone to take on the£-1m a month, so he needs a business people want to take on.

He could go into voluntary administration, but that means the lot gets sold: the lot. Clough, the training ground, the pompoms the Reebok rebels used to wear, the lot. You know we just sold some offices, and you asked what's the difference between adminstration, the difference is ALL the offices. And the playing staff. And everything. We come our t owning nothing that isn't nailed down.

Voluntary administration only makes sense when the only alternative is involuntary administration. Otherwise you're selling off the same assets, but in control.

There's nothing, btw, to stop ED or any buyer from arranging an ad hoc CVA with creditors to stop a12 point deduction that means they get a few more pence in the pound.

Hmrc won't take it, but the rest might. Admin is mental. How you still don't get this I don't know. If you could just cancel debts by filling in a form, David and George would have fixed it (I assume you didn't go to school with them).
Just to point out a couple of things. 1) other clubs in admninistration haven't sold their entire playing staff. Not sure why we automatically would. But regardless we are at risk of losing our best players this month anyway.

Secondly you say it has to be a business someone wants to take on. There has been a lot of time for someone to take it on in it's current form. Nobody has, and supposedly we've negotiated for over a year now. The question is are the assets worth more than the debts to a potential buyer?

Izual_Rebirth
Hopeful
Hopeful
Posts: 66
Joined: Sun Jan 19, 2014 9:03 pm

Re: The Debt.

Post by Izual_Rebirth » Fri Jan 01, 2016 7:46 pm

Anyone mentioned the transfer embargo yet?

Izual_Rebirth
Hopeful
Hopeful
Posts: 66
Joined: Sun Jan 19, 2014 9:03 pm

Re: The Debt.

Post by Izual_Rebirth » Fri Jan 01, 2016 7:57 pm

I think the argument FOR administration is the one I've been putting forward for months. It's going to happen... the sooner we go into it the sooner we can come out.

thebish
Immortal
Immortal
Posts: 37588
Joined: Fri Jul 07, 2006 9:01 am
Location: In my armchair

Re: The Debt.

Post by thebish » Fri Jan 01, 2016 10:47 pm

Izual_Rebirth wrote:Anyone mentioned the transfer embargo yet?
yes.
Some people are like Slinkies … not really good for anything, but you can’t help smiling when you see one tumble down the stairs.

User avatar
Lost Leopard Spot
Immortal
Immortal
Posts: 18436
Joined: Wed May 09, 2012 11:14 am
Location: In the long grass, hunting for a watering hole.

Re: The Debt.

Post by Lost Leopard Spot » Sat Jan 02, 2016 10:51 am

jonnycooper wrote:
Lost Leopard Spot wrote:So when's anybody's best guess for the announcement... the one where Trev says "let me introduce the new owners..."?
I'm only asking coz the tick tocking is quite loud and insidious.
48 hours apparently! Although that was said about 48,000000000 hours ago.. :conf:
Today's the day then :mrgreen:
That's not a leopard!
頑張ってください

thebish
Immortal
Immortal
Posts: 37588
Joined: Fri Jul 07, 2006 9:01 am
Location: In my armchair

Re: The Debt.

Post by thebish » Sat Jan 02, 2016 11:11 am

^ yeah - like we were going into administration about 10 Fridays ago!
Some people are like Slinkies … not really good for anything, but you can’t help smiling when you see one tumble down the stairs.

Bruce Rioja
Immortal
Immortal
Posts: 35815
Joined: Mon Jan 17, 2005 9:19 pm
Location: Drifting into the arena of the unwell.

Re: The Debt.

Post by Bruce Rioja » Sat Jan 02, 2016 12:11 pm

Izual_Rebirth wrote:Anyone mentioned the transfer embargo yet?
No mate. Not a peep!
May the bridges I burn light your way

User avatar
Lost Leopard Spot
Immortal
Immortal
Posts: 18436
Joined: Wed May 09, 2012 11:14 am
Location: In the long grass, hunting for a watering hole.

Re: The Debt.

Post by Lost Leopard Spot » Sat Jan 02, 2016 1:22 pm

thebish wrote:^ yeah - like we were going into administration about 10 Fridays ago!
So, technically speaking, are we in limbo or purgatory?
That's not a leopard!
頑張ってください

thebish
Immortal
Immortal
Posts: 37588
Joined: Fri Jul 07, 2006 9:01 am
Location: In my armchair

Re: The Debt.

Post by thebish » Sat Jan 02, 2016 1:55 pm

Lost Leopard Spot wrote:
thebish wrote:^ yeah - like we were going into administration about 10 Fridays ago!
So, technically speaking, are we in limbo or purgatory?
I'm in Torquay...
Some people are like Slinkies … not really good for anything, but you can’t help smiling when you see one tumble down the stairs.

User avatar
Lost Leopard Spot
Immortal
Immortal
Posts: 18436
Joined: Wed May 09, 2012 11:14 am
Location: In the long grass, hunting for a watering hole.

Re: The Debt.

Post by Lost Leopard Spot » Sat Jan 02, 2016 2:03 pm

thebish wrote:
Lost Leopard Spot wrote:
thebish wrote:^ yeah - like we were going into administration about 10 Fridays ago!
So, technically speaking, are we in limbo or purgatory?
I'm in Torquay...
Oh, shit! First circle of Hell then.
That's not a leopard!
頑張ってください

User avatar
Lost Leopard Spot
Immortal
Immortal
Posts: 18436
Joined: Wed May 09, 2012 11:14 am
Location: In the long grass, hunting for a watering hole.

Re: The Debt.

Post by Lost Leopard Spot » Sun Jan 03, 2016 10:51 am

Fourteen more days left during which The Big Announcement will come.
Heads: New Owners, Tails:Administration.
And nothing, no new rumours, no indications from the club, no leaked press stories, no TWers with inside information. It's almost like the club don't know themselves! Hmmmmmm....
That's not a leopard!
頑張ってください

Peter Thompson
Passionate
Passionate
Posts: 2076
Joined: Sun Jun 25, 2006 12:54 pm

Re: The Debt.

Post by Peter Thompson » Sun Jan 03, 2016 11:03 am

Is the delay not due to the state of the BWFC accounts ?.....apparently they are in such a mess that no one has a clue how much we actually owe & to who we owe, therefore its proving very difficult for whichever consortium that is in the driving seat to get to the bottom of exactly what debt they are taking on.

bobo the clown
Immortal
Immortal
Posts: 19597
Joined: Wed Mar 09, 2005 8:49 am
Location: N Wales, but close enough to Chester I can pretend I'm in England
Contact:

Re: The Debt.

Post by bobo the clown » Sun Jan 03, 2016 11:31 am

thebish wrote:
Lost Leopard Spot wrote:
thebish wrote:^ yeah - like we were going into administration about 10 Fridays ago!
So, technically speaking, are we in limbo or purgatory?
I'm in Torquay...
That's what he said !!
Not advocating mass-murder as an entirely positive experience, of course, but it had its moments.
"I understand you are a very good footballer" ... "I try".

User avatar
Lost Leopard Spot
Immortal
Immortal
Posts: 18436
Joined: Wed May 09, 2012 11:14 am
Location: In the long grass, hunting for a watering hole.

Re: The Debt.

Post by Lost Leopard Spot » Sun Jan 03, 2016 11:44 am

Peter Thompson wrote:Is the delay not due to the state of the BWFC accounts ?.....apparently they are in such a mess that no one has a clue how much we actually owe & to who we owe, therefore its proving very difficult for whichever consortium that is in the driving seat to get to the bottom of exactly what debt they are taking on.
I don't know. Is that the case? Is that the official line, the club are working out how much debt the new owners must take on before announcing the new owners. Or is it more likely that, as I said above, the club still don't know if we are to have new ownership or voluntary administration in the next fourteen days? I don't know the answer but my gut feeling is that the club is as much in the dark as I am.
That's not a leopard!
頑張ってください

Who is online

Users browsing this forum: No registered users and 12 guests