Administration and recovery

[Worthy4England]

For a long time I was quite supportive of Ken. Hoping he'd leave us in a better state than which he found us and if that meant him making a bit of a butty for himself, then no problem.

Exactly where I was too, and for a while I thought that that's what exactly was happening.

I honestly can't imagine how I'd react if I ever bumped into Anderson. I hate the c*nt, and I don't mean that lightly - I truly hate the c*nt and everything he holds sway by.

Amazing innit, that the Accounts that are now overdue which show us making a small profit never got submitted, and despite Admins from both Club and Hotel showing "numbers" that they must taken from the books, he disputes both amounts by huge amounts...

[Lost Leopard Spot]

It's no fxcking good keep on blaming Anderson for the shit pit we are in.
The Administrators set up a fcking so called data room with a £25,000 entrance fee, and then announced a bunch of tits to be preferred bidders who have got less cash than Anderson, my deceased cat, and the unified food banks of Bolton put together, and are first in line to suck up nearly a million in cash for doing six weeks work. I hope they at least broke into a sweat once or twice...

[Lost Leopard Spot]

... I mean, fxcking really. It's taking the piss when a bunch of people with calculators can claim £976,113 for less than two months hard graft tapping numbers in. And I've worked in a 'Consultancy' for Network Rail where my master's sucked £135,000 off the state's teat for nine weeks work - and I was disgusted with them.

[BWFC_Insane]

It's no fxcking good keep on blaming Anderson for the shit pit we are in.
The Administrators set up a fcking so called data room with a £25,000 entrance fee, and then announced a bunch of tits to be preferred bidders who have got less cash than Anderson, my deceased cat, and the unified food banks of Bolton put together, and are first in line to suck up nearly a million in cash for doing six weeks work. I hope they at least broke into a sweat once or twice...

Anderson paid £1 for the club. His "contribution" to the club appears to be borrowing £5M from ED - then loaning it to the club/hotel and securing it against those assets. During his time here he took out around about £600K in consultancy fees.

He's now disputing two separate administrators claims for what the accounts show he is owed and in doing so demanding something in excess of £8M.

His contribution to the club appears to be his "time" plus £1. That's it. His take away will be approaching £9M.

Whilst here and given us his "oh so generous time" he seemingly has racked up in excess of £10M worth of unsecured debt to the club by failing to pay said creditors for a period of 18 months.

[Enoch]

... I mean, fxcking really. It's taking the piss when a bunch of people with calculators can claim £976,113 for less than two months hard graft tapping numbers in. And I've worked in a 'Consultancy' for Network Rail where my master's sucked £135,000 off the state's teat for nine weeks work - and I was disgusted with them.

What confuddles me is folk trying to make sense of it all.

Be reet.

[malcd1]

Not sure if it means anything or not but there has been an update on Companies House from the administrators.

Statement of administrator's proposal
This document is being processed and will be available in 5 days.

Could just be a statement regarding the outstanding accounts but I am clinging to any update hoping that we are going to get this resolved soon.

[Lost Leopard Spot]

Not sure if it means anything or not but there has been an update on Companies House from the administrators.

Statement of administrator's proposal
This document is being processed and will be available in 5 days.

Could just be a statement regarding the outstanding accounts but I am clinging to any update hoping that we are going to get this resolved soon.

Isn't that just the FV update, after Bassini has left? And may or may not include a new director's name... or not.

Or is that Quantuma's update?

[BWFC_Insane]

Not sure if it means anything or not but there has been an update on Companies House from the administrators.

Statement of administrator's proposal
This document is being processed and will be available in 5 days.

Could just be a statement regarding the outstanding accounts but I am clinging to any update hoping that we are going to get this resolved soon.

Isn't that just the FV update, after Bassini has left? And may or may not include a new director's name... or not.

Its the administrators report.

[Lost Leopard Spot]

Not sure if it means anything or not but there has been an update on Companies House from the administrators.

Statement of administrator's proposal
This document is being processed and will be available in 5 days.

Could just be a statement regarding the outstanding accounts but I am clinging to any update hoping that we are going to get this resolved soon.

Isn't that just the FV update, after Bassini has left? And may or may not include a new director's name... or not.

Its the administrators report.

Which Administrator?

[BWFC_Insane]

Not sure if it means anything or not but there has been an update on Companies House from the administrators.

Statement of administrator's proposal
This document is being processed and will be available in 5 days.

Could just be a statement regarding the outstanding accounts but I am clinging to any update hoping that we are going to get this resolved soon.

Isn't that just the FV update, after Bassini has left? And may or may not include a new director's name... or not.

Its the administrators report.

Which Administrator?

The football club's. Its listed under Bolton Wanderers Football and Athletic club!

[Worthy4England]

Not sure if it means anything or not but there has been an update on Companies House from the administrators.

Statement of administrator's proposal
This document is being processed and will be available in 5 days.

Could just be a statement regarding the outstanding accounts but I am clinging to any update hoping that we are going to get this resolved soon.

Isn't that just the FV update, after Bassini has left? And may or may not include a new director's name... or not.

Its the administrators report.

Administrators are required to produce this in 8 weeks from the start of the process, if memory serves (so it would apply equally to both) - I suspect these are the docs from which Nixon and Iles have been taking statements about who owes whom, how much.

[BWFC_Insane]

Not sure if it means anything or not but there has been an update on Companies House from the administrators.

Statement of administrator's proposal
This document is being processed and will be available in 5 days.

Could just be a statement regarding the outstanding accounts but I am clinging to any update hoping that we are going to get this resolved soon.

Isn't that just the FV update, after Bassini has left? And may or may not include a new director's name... or not.

Its the administrators report.

Administrators are required to produce this in 8 weeks from the start of the process, if memory serves (so it would apply equally to both) - I suspect these are the docs from which Nixon and Iles have been taking statements about who owes whom, how much.

Yep. Just slow being filed.

[Lost Leopard Spot]

...so this is just going to regurgitate what we already know, and not add anything we don't.
Wednesday's a must...

[BWFC_Insane]

...so this is just going to regurgitate what we already know, and not add anything we don't.
Wednesday's a must...

At this point the only must is probably being able to start the season. And getting the deal over the line.

I think any expectation that next season can in any way be salvaged on field now must surely be gone. Its about building for league 2 I think now.

[Worthy4England]

...so this is just going to regurgitate what we already know, and not add anything we don't.
Wednesday's a must...

It might add some detail - it's supposed to be the Administrators "plan"

"Your administrator has 8 weeks to write a statement explaining what they plan to do.

They must send a copy to creditors, employees and Companies House and invite them to approve or amend the plans at a meeting."

Of course the "meeting" I think is scheduled to "conclude" today with the "voting" on the Admin's proposal(s)

[TANGODANCER]

I think any expectation that next season can in any way be salvaged on field now must surely be gone. Its about building for league 2 I think now.

There you go again with your sweeping statements. That's the way, be optimistic hey. It is league One we're talking isn't it, you know, Shrewsbury, Blackpool, Burton, Rochdale and Fleetwood. At least let's have a bit of hope....

[truewhite15]

I think any expectation that next season can in any way be salvaged on field now must surely be gone. Its about building for league 2 I think now.

There you go again with your sweeping statements. That's the way, be optimistic hey. It is league One we're talking isn't it, you know, Shrewsbury, Blackpool, Burton, Rochdale and Fleetwood. At least let's have a bit of hope....

Tango. We've had no pre-season. We've got hardly any players on the books, and those that we do are either wet behind the ears or wanting to get out.

Let's be realistic here - we've got no chance of surviving this season.

[TANGODANCER]

I think any expectation that next season can in any way be salvaged on field now must surely be gone. Its about building for league 2 I think now.

There you go again with your sweeping statements. That's the way, be optimistic hey. It is league One we're talking isn't it, you know, Shrewsbury, Blackpool, Burton, Rochdale and Fleetwood. At least let's have a bit of hope....

Tango. We've had no pre-season. We've got hardly any players on the books, and those that we do are either wet behind the ears or wanting to get out.

Let's be realistic here - we've got no chance of surviving this season.

Okay. Is it all right if I say "Come on you Whites!"

[Lost Leopard Spot]

An open invitation from Laurence to meet him by the statue at 6.30pm TODAY and ask any questions you like.

Anyone going?

Who's Laurence?

A full piece on the nutter's call to arms...
https://www.burndenaces.co.uk/2019/07/2 ... ering.html

As Harry asked, is anybody going?
Are the crowds gathering? Is the statue vibrating with anticipation? Or has it been called off already

[Dave Sutton's barnet]

An open invitation from Laurence to meet him by the statue at 6.30pm TODAY and ask any questions you like.

Anyone going?

Who's Laurence?

A full piece on the nutter's call to arms...
https://www.burndenaces.co.uk/2019/07/2 ... ering.html

As Harry asked, is anybody going?
Are the crowds gathering? Is the statue vibrating with anticipation? Or has it been called off already