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

[LeverEnd]

Look at Marc Iles. His head must weigh fifty pounds on its own.

Imagine the size of his balls. Imagine getting into a fight with the 4ucker!

He's going to rip your head off. Because he doesn't like your head.

[TANGODANCER]

One positive note amongst it all; if Ken can convince the powers that be that our business dealings are in order (and a mongoose is slow compared to those financial ferrets where that's concerned), then fans worrying about it seems like self imposed headaches for no reason. He has to believe he can and he isn't in it for a free pint and hot-dog at our home games. The point has been made (and many times) at the massive mishandling by the past regime of directors and managers playing Harry Enfield with club funds.If Ken Anderson can get us back in the black eventually he'll be doing something that a whole succession of his predecessors couldn't manage.When must the last time actually be that we were financially sound?

[Dave Sutton's barnet]

Another two-week adjournment... but this time at the EFL's request.

http://www.theboltonnews.co.uk/sport/15 ... p_hearing/

[LeverEnd]

Another two-week adjournment... but this time at the EFL's request.

http://www.theboltonnews.co.uk/sport/15 ... p_hearing/

I don't get this at all. Obviously I know feck all about the intricacies but to my simple mind it either gets paid or wound up. Whether the club is then in breach is a side issue.
Anyone?

[BWFC_Insane]

Another two-week adjournment... but this time at the EFL's request.

http://www.theboltonnews.co.uk/sport/15 ... p_hearing/

I don't get this at all. Obviously I know feck all about the intricacies but to my simple mind it either gets paid or wound up. Whether the club is then in breach is a side issue.
Anyone?

The only assets SSBWFC hold are shares in the club. I guess that whatever happens, the value of those shares depend upon the value of the club. So, breaching EFL rules, devalues the shares?

[Worthy4England]

Another two-week adjournment... but this time at the EFL's request.

http://www.theboltonnews.co.uk/sport/15 ... p_hearing/

I don't get this at all. Obviously I know feck all about the intricacies but to my simple mind it either gets paid or wound up. Whether the club is then in breach is a side issue.
Anyone?

I suspect the intricacy is that the debt is secured against Burnden Leisure assets in the event of a default by SSBWFC. Although this appears to be a point of dispute...

[Abdoulaye's Twin]

Presumably Blumarble are trying to make sure they aren't shooting themselves in the foot by devaluing the shares they're likely to inherit fro SSBWFC. My guess is they are trying to find out what the EFL will impose on BWFC if the liquidation and transfer of shares goes ahead.

[Peter Thompson]

Unless I'm reading it wrong - Blumarble's lawyers told the court today that an agreement has been reached in principal and that it basically needs the EFL to sanction / approve it in the next 14 days.

[officer_dibble]

I genuinely haven't got a fcking clue anymore. The length of time this is taking is a joke. It should be about football now.

[BWFC_Insane]

Unless I'm reading it wrong - Blumarble's lawyers told the court today that an agreement has been reached in principal and that it basically needs the EFL to sanction / approve it in the next 14 days.

The EFL are being asked to consider implications of winding up Sport shield bwfc. Least that is what Iles is saying on twitter.

[Peter Thompson]

Is tomorrow the latest Bluemarble / Sportshield deadline / court date ?

[LeverEnd]

Is tomorrow the latest Bluemarble / Sportshield deadline / court date ?

Until the next!

[Peter Thompson]

Apparently Sports Shield have been liquidated....

[BWFC_Insane]

Apparently Sports Shield have been liquidated....

Sports shield bwfc have.

Total and utter mess now. Liquidator owns 37.5% of the club.

[Peter Thompson]

Thanks Mr Holdsworth, I can't see you ever being welcomed again inside the Macron....

[Bruce Rioja]

Iles has Twotted this; BREAKING: Sports Shield BWFC has been liquidated in London court this morning.

So what's the upshot of this then?

[BWFC_Insane]

Iles has Twotted this; BREAKING: Sports Shield BWFC has been liquidated in London court this morning.

So what's the upshot of this then?

Liquidator holds 37.5% of the shares in Burnden Leisure. They will sell them. To the highest bidder to pay off as much of the debt as possible. Could be anyone.

Points deduction cannot be ruled out - since a company with a controlling stake in the club has been liquidated.

Whatever is not covered by the sale of shares will be owed by the club come March 2018.

Basically nothing good.

Thanks Ken and Dean. Thanks a bunch.

[Gravdigger]

Damage limitation now and let's hope that KA can buy from the liquidator at a good price and then hope the EFL will be a bit merciful about any, if, points deduction. I wonder how much DH has in his sky rocket now. He's really mugged the club despite his good (?) intentions at the start of this mess.

[Bruce Rioja]

Does Ken have the cash to buy the shares though? I expect we'll be hearing from him soon enough.

[BWFC_Insane]

Does Ken have the cash to buy the shares though? I expect we'll be hearing from him soon enough.

Nobody knows. Given they are in effect on the open market it depends who wants them and how much they are prepared to pay.

He clearly didn't have the cash (or desire) to settle the issue prior to court.