Administration and recovery

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Lost Leopard Spot
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Re: Administration and recovery

Post by Lost Leopard Spot » Tue Aug 27, 2019 5:55 pm

LeverEnd wrote:
Tue Aug 27, 2019 5:51 pm
Lost Leopard Spot wrote:
Tue Aug 27, 2019 5:49 pm
bristol_Wanderer3 wrote:
Tue Aug 27, 2019 5:43 pm
New potential buyers emerging for Bury deep into injury time...
CODE: SELECT ALL
That'll be Bassini...
Then he'll sit down and start ranting about Football Ventures. "Did I say Bury on the phone? Slip of the tongue riiiight."
He'll have £43 million by that point though...
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Burnden Paddock
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Re: Administration and recovery

Post by Burnden Paddock » Tue Aug 27, 2019 5:58 pm

Lost Leopard Spot wrote:
Tue Aug 27, 2019 5:55 pm
LeverEnd wrote:
Tue Aug 27, 2019 5:51 pm
Lost Leopard Spot wrote:
Tue Aug 27, 2019 5:49 pm
bristol_Wanderer3 wrote:
Tue Aug 27, 2019 5:43 pm
New potential buyers emerging for Bury deep into injury time...
CODE: SELECT ALL
That'll be Bassini...
Then he'll sit down and start ranting about Football Ventures. "Did I say Bury on the phone? Slip of the tongue riiiight."
He'll have £43 million by that point though...
But still no fecking ring binder!

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Re: Administration and recovery

Post by bristol_Wanderer3 » Tue Aug 27, 2019 6:12 pm

I wish the media would actually get to the bottom of what it is Ken wants in the deal at the last minute. If it is a clause that no action can ever be taken against him if he defaults on payment to EDT, then they should be reporting it and asking him questions about it, and why it is worth killing BWFC over. Not just accepting his "Optimistic" messages...

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Re: Administration and recovery

Post by BWFC_Insane » Tue Aug 27, 2019 6:21 pm

The EFL deadline is a bit meaningless for us. Administrators need a deal done or ready to be done tomorrow or a cash injection.

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Re: Administration and recovery

Post by officer_dibble » Tue Aug 27, 2019 6:22 pm

I’ve also read it’s immunity against future legal action by the EDT. How on earth can they grant that? What if Ken has graffitiid a massive bell end on one of their walls, can they not prosecute?

Where is ITK BWFC Insane when you need him!

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Re: Administration and recovery

Post by BWFC_Insane » Tue Aug 27, 2019 6:25 pm

officer_dibble wrote:
Tue Aug 27, 2019 6:22 pm
I’ve also read it’s immunity against future legal action by the EDT. How on earth can they grant that? What if Ken has graffitiid a massive bell end on one of their walls, can they not prosecute?

Where is ITK BWFC Insane when you need him!
I don’t know the details of exactly what Ken wants. Nobody is going to spell it out. I think it’s protection as Pru says on being pursued for the outstanding amount on the loan. And protection against any future action against the club. But I’m only piecing together snippets so I’m far from certain.

The big issue all along has been the loan and how it is repaid. EDT and KA been a nightmare to deal with.

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Re: Administration and recovery

Post by Worthy4England » Tue Aug 27, 2019 6:32 pm

I suspect we'll know soon enough - think we've probably run out of "deal is very very close" time. Feels like the next announcement sort of has to be shit or bust.

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Re: Administration and recovery

Post by BWFC_Insane » Tue Aug 27, 2019 6:36 pm

Worthy4England wrote:
Tue Aug 27, 2019 6:32 pm
I suspect we'll know soon enough - think we've probably run out of "deal is very very close" time. Feels like the next announcement sort of has to be shit or bust.
I wouldn’t be surprised if next announcement merely says talks ongoing further update in morning. But we will see.

I really hope it’s the big one though.

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Re: Administration and recovery

Post by Worthy4England » Tue Aug 27, 2019 6:40 pm

BWFC_Insane wrote:
Tue Aug 27, 2019 6:36 pm
Worthy4England wrote:
Tue Aug 27, 2019 6:32 pm
I suspect we'll know soon enough - think we've probably run out of "deal is very very close" time. Feels like the next announcement sort of has to be shit or bust.
I wouldn’t be surprised if next announcement merely says talks ongoing further update in morning. But we will see.

I really hope it’s the big one though.
I could see that - if we hadn't had the closest deal to completion tag for about 8 weeks now! :-)

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Re: Administration and recovery

Post by BWFC_Insane » Tue Aug 27, 2019 6:44 pm

Worthy4England wrote:
Tue Aug 27, 2019 6:40 pm
BWFC_Insane wrote:
Tue Aug 27, 2019 6:36 pm
Worthy4England wrote:
Tue Aug 27, 2019 6:32 pm
I suspect we'll know soon enough - think we've probably run out of "deal is very very close" time. Feels like the next announcement sort of has to be shit or bust.
I wouldn’t be surprised if next announcement merely says talks ongoing further update in morning. But we will see.

I really hope it’s the big one though.
I could see that - if we hadn't had the closest deal to completion tag for about 8 weeks now! :-)
If they come to an agreement and that’s an if it needs contracting and checking by legal teams and signing. Unless this happened a while ago and they are keeping it very quiet (is possible) I can’t see it tonight. However I wouldn’t announce anything till every single party has signed and then I’d give em a while to change their minds before saying anything.

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Re: Administration and recovery

Post by Hoboh » Tue Aug 27, 2019 7:07 pm

BWFC_Insane wrote:
Tue Aug 27, 2019 6:25 pm
officer_dibble wrote:
Tue Aug 27, 2019 6:22 pm
I’ve also read it’s immunity against future legal action by the EDT. How on earth can they grant that? What if Ken has graffitiid a massive bell end on one of their walls, can they not prosecute?

Where is ITK BWFC Insane when you need him!
I don’t know the details of exactly what Ken wants. Nobody is going to spell it out. I think it’s protection as Pru says on being pursued for the outstanding amount on the loan. And protection against any future action against the club. But I’m only piecing together snippets so I’m far from certain.

The big issue all along has been the loan and how it is repaid. EDT and KA been a nightmare to deal with.
Don't see why EDT is part of that nightmare???
If I loaned someone £5 million, not the club, I'd pursue that person to the ends of the earth. Sentimentality fly's out of the window for that amount I'm afraid. Does not do much for the club but hey some were cheering Ken on as saviour at one point.

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Re: Administration and recovery

Post by Lost Leopard Spot » Tue Aug 27, 2019 7:14 pm

Hoboh wrote:
Tue Aug 27, 2019 7:07 pm
BWFC_Insane wrote:
Tue Aug 27, 2019 6:25 pm
officer_dibble wrote:
Tue Aug 27, 2019 6:22 pm
I’ve also read it’s immunity against future legal action by the EDT. How on earth can they grant that? What if Ken has graffitiid a massive bell end on one of their walls, can they not prosecute?

Where is ITK BWFC Insane when you need him!
I don’t know the details of exactly what Ken wants. Nobody is going to spell it out. I think it’s protection as Pru says on being pursued for the outstanding amount on the loan. And protection against any future action against the club. But I’m only piecing together snippets so I’m far from certain.

The big issue all along has been the loan and how it is repaid. EDT and KA been a nightmare to deal with.
Don't see why EDT is part of that nightmare???
If I loaned someone £5 million, not the club, I'd pursue that person to the ends of the earth. Sentimentality fly's out of the window for that amount I'm afraid. Does not do much for the club but hey some were cheering Ken on as saviour at one point.
You noticed that. We have such short memories, eh!...
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Re: Administration and recovery

Post by BWFC_Insane » Tue Aug 27, 2019 7:15 pm

Hoboh wrote:
Tue Aug 27, 2019 7:07 pm
BWFC_Insane wrote:
Tue Aug 27, 2019 6:25 pm
officer_dibble wrote:
Tue Aug 27, 2019 6:22 pm
I’ve also read it’s immunity against future legal action by the EDT. How on earth can they grant that? What if Ken has graffitiid a massive bell end on one of their walls, can they not prosecute?

Where is ITK BWFC Insane when you need him!
I don’t know the details of exactly what Ken wants. Nobody is going to spell it out. I think it’s protection as Pru says on being pursued for the outstanding amount on the loan. And protection against any future action against the club. But I’m only piecing together snippets so I’m far from certain.

The big issue all along has been the loan and how it is repaid. EDT and KA been a nightmare to deal with.
Don't see why EDT is part of that nightmare???
If I loaned someone £5 million, not the club, I'd pursue that person to the ends of the earth. Sentimentality fly's out of the window for that amount I'm afraid. Does not do much for the club but hey some were cheering Ken on as saviour at one point.
There are reasons. But bottom line is it’s a lot of people who don’t trust or like each other trying to reach a deal.

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Re: Administration and recovery

Post by Lost Leopard Spot » Tue Aug 27, 2019 7:23 pm

BWFC_Insane wrote:
Tue Aug 27, 2019 7:15 pm
Hoboh wrote:
Tue Aug 27, 2019 7:07 pm
BWFC_Insane wrote:
Tue Aug 27, 2019 6:25 pm
officer_dibble wrote:
Tue Aug 27, 2019 6:22 pm
I’ve also read it’s immunity against future legal action by the EDT. How on earth can they grant that? What if Ken has graffitiid a massive bell end on one of their walls, can they not prosecute?

Where is ITK BWFC Insane when you need him!
I don’t know the details of exactly what Ken wants. Nobody is going to spell it out. I think it’s protection as Pru says on being pursued for the outstanding amount on the loan. And protection against any future action against the club. But I’m only piecing together snippets so I’m far from certain.

The big issue all along has been the loan and how it is repaid. EDT and KA been a nightmare to deal with.
Don't see why EDT is part of that nightmare???
If I loaned someone £5 million, not the club, I'd pursue that person to the ends of the earth. Sentimentality fly's out of the window for that amount I'm afraid. Does not do much for the club but hey some were cheering Ken on as saviour at one point.
There are reasons. But bottom line is it’s a lot of people who don’t trust or like each other trying to reach a deal.
...the Bottom Line is Appleton had previously stated that unsecured creditors were heading for 35p in the £, and (by implication alone) that secured creditors would be getting paid, but FV do not, nor never have had, the cash to make that statement come true. That's the bottom line. That and that alone. Everything else is subsidiary to that Big Problem. FV have tried to bamboozle their way through the entire process. They are skint.
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dave the minion
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Re: Administration and recovery

Post by dave the minion » Tue Aug 27, 2019 7:30 pm

Lost Leopard Spot wrote:
Tue Aug 27, 2019 7:23 pm

...the Bottom Line is Appleton had previously stated that unsecured creditors were heading for 35p in the £, and (by implication alone) that secured creditors would be getting paid, but FV do not, nor never have had, the cash to make that statement come true. That's the bottom line. That and that alone. Everything else is subsidiary to that Big Problem. FV have tried to bamboozle their way through the entire process. They are skint.
LLS - not dissing your statements or questioning them, but given that you've stated this a lot - can I ask, do you know this is the case, or is it just your best guess of the situation?

As I said, not saying you are wrong at all - and you might well be 100% correct - just the level of confidence with which you make the point about them having no cash implies some knowledge rather than just an assumption?
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Re: Administration and recovery

Post by officer_dibble » Tue Aug 27, 2019 8:07 pm

FV did put a million in to get the club up and running at the start didn’t they?

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Re: Administration and recovery

Post by BWFC_Insane » Tue Aug 27, 2019 8:07 pm

dave the minion wrote:
Tue Aug 27, 2019 7:30 pm
Lost Leopard Spot wrote:
Tue Aug 27, 2019 7:23 pm

...the Bottom Line is Appleton had previously stated that unsecured creditors were heading for 35p in the £, and (by implication alone) that secured creditors would be getting paid, but FV do not, nor never have had, the cash to make that statement come true. That's the bottom line. That and that alone. Everything else is subsidiary to that Big Problem. FV have tried to bamboozle their way through the entire process. They are skint.
LLS - not dissing your statements or questioning them, but given that you've stated this a lot - can I ask, do you know this is the case, or is it just your best guess of the situation?

As I said, not saying you are wrong at all - and you might well be 100% correct - just the level of confidence with which you make the point about them having no cash implies some knowledge rather than just an assumption?
It’s common knowledge that FV aren’t flush with cash. However, to date they are the only ones to prove their funding to the admins and the EFL with a credible business plan to go with it.
That funding and plan is still in place and has not altered.

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Re: Administration and recovery

Post by Lost Leopard Spot » Tue Aug 27, 2019 8:08 pm

officer_dibble wrote:
Tue Aug 27, 2019 8:07 pm
FV did put a million in to get the club up and running at the start didn’t they?
No.
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Re: Administration and recovery

Post by BWFC_Insane » Tue Aug 27, 2019 8:08 pm

officer_dibble wrote:
Tue Aug 27, 2019 8:07 pm
FV did put a million in to get the club up and running at the start didn’t they?
And the rest...though you can thank Michael James for being a fan. Otherwise I think we’d not be here by now.

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Re: Administration and recovery

Post by DJBlu » Tue Aug 27, 2019 8:12 pm

Lost Leopard Spot wrote:
Tue Aug 27, 2019 8:08 pm
officer_dibble wrote:
Tue Aug 27, 2019 8:07 pm
FV did put a million in to get the club up and running at the start didn’t they?
No.
How do you know?

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