Administration and recovery

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LeverEnd
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Re: Administration and recovery

Post by LeverEnd » Wed Jun 12, 2019 7:19 pm

If Bellendini hasn't broken the NDA it's only because Jim White has been screening the c*nts calls.

Also I agree with DSB that this is very different from people trying to buy off Anderson. I also think that, rather than being timewasters, some of the 'tyre kickers' simply found out what dealing with Honest Ken was like. I e. The tyres are made of Papier maché and there's a noisy hairdryer where the engine should be.
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Re: Administration and recovery

Post by nelson66 » Wed Jun 12, 2019 8:12 pm

Administrators said that they were hoping to get heads of terms signed on Friday with new purchaser.
So my guess is thats when there will be a leak/press release
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Re: Administration and recovery

Post by nicholaldo » Wed Jun 12, 2019 8:24 pm

Michael James is on the board of one of the consortiums thought to have submitted a bid for the club. Granted, he is only a secured creditor of the hotel and not the football club itself, but that's surely got to helpful to the administrator when deciding who represents the best deal for the creditors?

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Re: Administration and recovery

Post by Worthy4England » Wed Jun 12, 2019 8:44 pm

Dave Sutton's barnet wrote:
Wed Jun 12, 2019 6:58 pm
Worthy4England wrote:
Wed Jun 12, 2019 6:32 pm
Lost Leopard Spot wrote:
Wed Jun 12, 2019 5:43 pm
So... 4pm come and gone. And we're still no wiser.
Not sure we'd expect much to be fair. They will need to spend some time evaluating the BAFO offers, which may have arrived at 16:00 on the dot...
And the process is still in train, with NDAs presumably also signed by the admins, so they’re not going to say “and our grand finalists are...”

They could say how many there are, but they don’t have to. Remind me, what’s Friday - did the admins say they’d make a decision, announce it or what?
"We will notify the successful bidder as soon after Wednesday's deadline as possible and will be looking for a Heads of Terms agreement to be signed by Friday"

So effectively they'll have agreed Heads by Friday if they stick to the plan - which in turn means they will have picked their preferred bidder - the one they intend to negotiate the full deal with - as I mentioned previously, we've been at Heads of Terms twice this year already which is still a risk for the Admins that they don't get to a deal with their preferred bidder. Makes no mention regarding announcing anything.

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Re: Administration and recovery

Post by Worthy4England » Wed Jun 12, 2019 8:51 pm

nicholaldo wrote:
Wed Jun 12, 2019 8:24 pm
Michael James is on the board of one of the consortiums thought to have submitted a bid for the club. Granted, he is only a secured creditor of the hotel and not the football club itself, but that's surely got to helpful to the administrator when deciding who represents the best deal for the creditors?
I guess that depends on whether FV's bid means paying MJ 100% and all the other creds nowt! :-)

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Re: Administration and recovery

Post by Dave Sutton's barnet » Wed Jun 12, 2019 9:00 pm

Thanks, Worthy. I shall keep an eye on it from afar (off on me jollibobs tomorrow)

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Re: Administration and recovery

Post by Worthy4England » Wed Jun 12, 2019 9:16 pm

Dave Sutton's barnet wrote:
Wed Jun 12, 2019 9:00 pm
Thanks, Worthy. I shall keep an eye on it from afar (off on me jollibobs tomorrow)
Enjoy your holidays, mate.

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Re: Administration and recovery

Post by bristol_Wanderer3 » Wed Jun 12, 2019 9:21 pm

LeverEnd wrote:
Wed Jun 12, 2019 7:19 pm
If Bellendini hasn't broken the NDA it's only because Jim White has been screening the c*nts calls.

Also I agree with DSB that this is very different from people trying to buy off Anderson. I also think that, rather than being timewasters, some of the 'tyre kickers' simply found out what dealing with Honest Ken was like. I e. The tyres are made of Papier maché and there's a noisy hairdryer where the engine should be.
I don't understand how headlines such as "Bassini is still in the running" have been allowed to go out, without reporting if he has passed the fit and proper persons test? Surely that would be a big clue in assessing the merit of his new claim, given as far as has been reported he hasn't yet in his three months of involvement provided proof of any funds, and the passing of his FPP in his original "bid" was reported to be based on that?

Then again I suspect the inevitable world salad answer along the lines of "yeah, we've put it in, it's just needs checking, we've got the money, Ken Anderson. those people, they're dying, administration. so terrible, I will save this club" might not tell them very much.

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Re: Administration and recovery

Post by Worthy4England » Wed Jun 12, 2019 9:32 pm

bristol_Wanderer3 wrote:
Wed Jun 12, 2019 9:21 pm
I don't understand how headlines such as "Bassini is still in the running" have been allowed to go out, without reporting if he has passed the fit and proper persons test? Surely that would be a big clue in assessing the merit of his new claim, given as far as has been reported he hasn't yet in his three months of involvement provided proof of any funds, and the passing of his FPP in his original "bid" was reported to be based on that?

Then again I suspect the inevitable world salad answer along the lines of "yeah, we've put it in, it's just needs checking, we've got the money, Ken Anderson. those people, they're dying, administration. so terrible, I will save this club" might not tell them very much.
It's sorta what news outlets do - they could've been given an insider from someone close to the bid that they're still in. It's not unreasonable for them to pass that on, even if they don't know all the detail (which they don't) - is probably why they said "we understand" - which is a few notches down from we bang on certain he's met all the criteria...

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Re: Administration and recovery

Post by Burnden Paddock » Wed Jun 12, 2019 9:46 pm

Is it not just a case of Iles thinking that nothing will wind Wanderers fans up and sell a few newspapers (does anyone still buy the BN?) more than mentioning Bassini? Surely the administrators credibility has to be brought into question if that prick gets anywhere near buying us?

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Re: Administration and recovery

Post by TonyDomingos » Wed Jun 12, 2019 10:31 pm

Burnden Paddock wrote:
Wed Jun 12, 2019 9:46 pm
if that prick gets anywhere near buying us?

Uh-oh. That's jinxed it. Nailed on now that he'll be the new owner and player-manager by tea time Friday. :D
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Re: Administration and recovery

Post by Worthy4England » Wed Jun 12, 2019 10:46 pm

Burnden Paddock wrote:
Wed Jun 12, 2019 9:46 pm
Is it not just a case of Iles thinking that nothing will wind Wanderers fans up and sell a few newspapers (does anyone still buy the BN?) more than mentioning Bassini? Surely the administrators credibility has to be brought into question if that prick gets anywhere near buying us?
Doubtful on the second part. Their job is to try and get to the best monetary position for creditors that saves the business (or close it). They're not judging the flavour of the fruitloops or how said fruitloop might run it...

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Re: Administration and recovery

Post by nicholaldo » Wed Jun 12, 2019 11:16 pm

Worthy4England wrote:
Wed Jun 12, 2019 8:44 pm
Dave Sutton's barnet wrote:
Wed Jun 12, 2019 6:58 pm
Worthy4England wrote:
Wed Jun 12, 2019 6:32 pm
Lost Leopard Spot wrote:
Wed Jun 12, 2019 5:43 pm
So... 4pm come and gone. And we're still no wiser.
Not sure we'd expect much to be fair. They will need to spend some time evaluating the BAFO offers, which may have arrived at 16:00 on the dot...
And the process is still in train, with NDAs presumably also signed by the admins, so they’re not going to say “and our grand finalists are...”

They could say how many there are, but they don’t have to. Remind me, what’s Friday - did the admins say they’d make a decision, announce it or what?
"We will notify the successful bidder as soon after Wednesday's deadline as possible and will be looking for a Heads of Terms agreement to be signed by Friday"

So effectively they'll have agreed Heads by Friday if they stick to the plan - which in turn means they will have picked their preferred bidder - the one they intend to negotiate the full deal with - as I mentioned previously, we've been at Heads of Terms twice this year already which is still a risk for the Admins that they don't get to a deal with their preferred bidder. Makes no mention regarding announcing anything.

If I've interpreted things correctly, the two previous agreements were reached pre-due diligence whereas this one on Friday (assuming there is one) will have been reached post-due diligence.

That feels significant. Is it?

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Re: Administration and recovery

Post by Bruce Rioja » Thu Jun 13, 2019 7:05 am

So, less of a 'who's who' and more of a 'who the feck's he?' And where's Harry Brockbank's name?

https://www.bwfc.co.uk/news/2019/june/c ... d-players/
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Re: Administration and recovery

Post by nicholaldo » Thu Jun 13, 2019 7:38 am

Bruce Rioja wrote:
Thu Jun 13, 2019 7:05 am
So, less of a 'who's who' and more of a 'who the feck's he?' And where's Harry Brockbank's name?

https://www.bwfc.co.uk/news/2019/june/c ... d-players/

Nixon reported recently that Brockbank's in a bit of a quandry. Apparently, his contract had a clause in it which committed us to offering him a new one by a certain date after making three first-team appearances (or maybe starts, I can't remember). That date has now passed and because we're in administration we're not in a position to offer him the new deal we're contractual obliged to. As I understand it, he's therefore out-of-contract.

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Re: Administration and recovery

Post by Bruce Rioja » Thu Jun 13, 2019 8:51 am

nicholaldo wrote:
Thu Jun 13, 2019 7:38 am
Bruce Rioja wrote:
Thu Jun 13, 2019 7:05 am
So, less of a 'who's who' and more of a 'who the feck's he?' And where's Harry Brockbank's name?

https://www.bwfc.co.uk/news/2019/june/c ... d-players/

Nixon reported recently that Brockbank's in a bit of a quandry. Apparently, his contract had a clause in it which committed us to offering him a new one by a certain date after making three first-team appearances (or maybe starts, I can't remember). That date has now passed and because we're in administration we're not in a position to offer him the new deal we're contractual obliged to. As I understand it, he's therefore out-of-contract.
Ah, cheers for that. Seeing these boys come through the system only to walk away is just calamitous.
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Re: Administration and recovery

Post by knobpolisher » Thu Jun 13, 2019 10:12 am

Just landed in corfu bloody sweltering, logged on to Ben website and what great news that is.
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Re: Administration and recovery

Post by Burnden Paddock » Thu Jun 13, 2019 10:14 am


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Re: Administration and recovery

Post by TANGODANCER » Thu Jun 13, 2019 10:17 am

Burnden Paddock wrote:
Thu Jun 13, 2019 10:14 am
https://www.bwfc.co.uk/news/2019/june/s ... wanderers/

Let's hope it ain't Bassini!
Echoed....but I've got a nasty feeling.....sure hope I'm wrong. Lets look positive though... :oyea:
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Re: Administration and recovery

Post by Gary the Enfield » Thu Jun 13, 2019 11:43 am

So.... we live on. Good.

That's the most positive thing I've read in months (in reference to my club at least)

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