Administration and recovery

[Lost Leopard Spot]

A long long long time ago, when the internet was in its pre-infancy, mobile phones didn't exist, and you flew BOAC or crashed in a foreign pile of crap, my pre-wife and I flew out to India and took a hike around Annapurna.
The pre-wife was awaiting news as to whether she'd got a job in Papua New Guinea, or not. We'd arranged for a telegram to be sent Poste Restante to Kathmandu. After five weeks trekking up and over Thorong La and back from Pokhara, we arrived back at Kathmandu to find... nothing!
We spent a further nail-biting two weeks travelling by bus and train back to New Delhi to catch our flight. But where to? Port Moresby, or Luton?
Back in those days international travel was a preserve of businessmen, or hippies. We were firmly in the hippy camp, and you got your tickets through 'bucket shops' that sold the tickets the businessmen had failed to use.
After camping outside the only bucket shop we knew near the Red Fort Freak Street we ascertained that we had 72 hours to decide.
After finding the only phone in India, at the airport, that would accept coins for international calls, my pre-wife phoned her mother to discover if any letters had arrived from Papua New Guinea. During the interminable wait whilst my pre-wife's mother toddled off to rummage through unopened mail we ran out of coins to feed the fxcking phone.
After another day, spent mainly trying to find a post office that would exchange a large denomination travellers cheque so we could buy shit to break down the rupee notes to enough coins to feed the fxcking phone again (this was before ATMs existed in the UK, never mind India. And before you ask you had to be Rich to have a credit card back then - I only ever knew one person who had an American Express card prior to 1976, and he was the son of the Chairman of ICI).
Anyway, when she rang her mum next day we discovered there were no letters, so we went back to the bucket shop and bought tickets back to the UK (due to fly three days later by Air India, Aeroflot, and KLM - which nearly killed us, but that's another story).

Anyway, that's what I'm beginning to relive during the wait for what the fxck is happening with Bolton Wanderers. It's nearly 2020 For Fxcks Sake. This isn't 45 years ago!!! Get On With It!

(PS. When me and the pre-wife finally got home, she discovered that she Did have a job in Papua New Guinea, but it was too late by then - we had no money left. She went back to Teacher Training/Acting College and I went to University.
Nine years later we did fly out to Japan, where we spent three years and got married. We never did get around to working in Papua New G).
...
Any news yet?

[Worthy4England]

No.

[Lost Leopard Spot]

No.

Thanks

[BWFC_Insane]

Some solicitors are going to be very rich by the end of this all that is for sure...well richer than they already were. #legaladvice

[Worthy4England]

No.

Thanks

[LeverEnd]

No.

Thanks

Awwwww you guys!

[Lost Leopard Spot]

No.

Thanks

Awwwww you guys!

If I had a kiss emoji, I'd give you one.

[officer_dibble]

The clubs social media bid has posted photos of ‘the lads’ (all 6 of them) starting pre season training today. Top trolling! We’re a feck* disaster

[Worthy4England]

The clubs social media bid has posted photos of ‘the lads’ (all 6 of them) starting pre season training today. Top trolling! We’re a feck* disaster

That was funny.

[Worthy4England]

No.

Thanks

Awwwww you guys!

If I had a kiss emoji, I'd give you one.

Whilst you're working out if you can give him one or not, both Nixon and Iles posted in the last 40 mins or so that everyone is still expecting "some announcement" today...

[Dave Sutton's barnet]

Announcement made. Hmm.

Football Ventures (Whites) Limited are confirmed as the Preferred Bidder for the acquisition of the club.

Paul Appleton of David Rubin & Partners, said: "We undertook a comprehensive bidding process where all interested parties were given an opportunity to make their best and final offer for the club.

"Football Ventures made the highest offer by a substantial margin and were also able to show absolute proof and source of funding to match the requirements of the process.

"They were also able to show the viability of a minimum two-year business plan for the club which was of the utmost importance.

"With the Heads of Terms agreement signed, we now move towards a Sales and Purchase Agreement and the completion of the deal."

[officer_dibble]

Well it’s a couple of weeks later but it’s a step in the right direction, no?

[Harry Genshaw]

I'm not sure what I was expecting but that feels like a bit of a damp squib

[TANGODANCER]

Does this mean we can leave the business side of thing to the er..business "persons" now and just be Bolton Wanderers? Do we still have a team? Will there be a figurehead "owner" in the form of one person sitting in the throne of power as in Ken the man, or will the figurehead be our new manager up front as in Sam Allardyce..? , or....?

All these questions will be answered in he fullness of time, as will the opening dates for the new ice-rink and trampolinedrome that used to be the Reebok/Macron/Bolton University Stadium. Meantime,while we still have football, the new club badge, a gilded Bitcoin with the motto "Do unto others before they do unto you" adorning the new club shirts is under production as we speak. Paul McCartney has offered to do a rousing "Hey Jude" at a special cut-price at the first home game and Rod Stewart has promised not to come. Further details as they become available.

Thank you.

[Lost Leopard Spot]

I'm happy in that the 'announcement' tells Bassini just where to fxck off to, without actually stating it - so I'll do it for them: "Oi, Bassini. Knob off."

I was led to believe, however, that Shazza, Jimmy, Thomo, and Parmindah, were to reconfigure as another company other than FV (W) inc. The fact they haven't fills me with forebodeness.

[nicholaldo]

Presuably, an appplication for an injunction can be made right up to the signing of the SPA. If that's the case, I don't know what material difference today's announcement makes. The position hasn't really changed from yesterday, has it?

[Lost Leopard Spot]

Presuably, an appplication for an injunction can be made right up to the signing of the SPA. If that's the case, I don't know what material difference today's announcement makes. The position hasn't really changed from yesterday, has it?

An application for an injunction is merely an application. To get an injunction the judge requires sufficient reason to grant one. The statement made quite clearly removes any possible reason for the granting of such an injunction. So, no, the position has changed quite dramatically.

[Worthy4England]

Presuably, an appplication for an injunction can be made right up to the signing of the SPA. If that's the case, I don't know what material difference today's announcement makes. The position hasn't really changed from yesterday, has it?

I'm of the same opinion. It was fairly widely known who'd won and as far as I know, Admins are still in charge until SPA is signed... So I'm not sure much has changed.

[nicholaldo]

Presuably, an appplication for an injunction can be made right up to the signing of the SPA. If that's the case, I don't know what material difference today's announcement makes. The position hasn't really changed from yesterday, has it?

An application for an injunction is merely an application. To get an injunction the judge requires sufficient reason to grant one. The statement made quite clearly removes any possible reason for the granting of such an injunction. So, no, the position has changed quite dramatically.

In what sense? We knew on Saturday afternoon that a Heads of Teems agreement had been signed, and Bassini made his (probably empty) threat of court action yesterday. I don't understand why today's statement alters things. If Bassini can prove he has a case that his bid was better, an injunction can still be granted irrespective of what the administrators claim.

[bristol_Wanderer3]

Presuably, an appplication for an injunction can be made right up to the signing of the SPA. If that's the case, I don't know what material difference today's announcement makes. The position hasn't really changed from yesterday, has it?

An application for an injunction is merely an application. To get an injunction the judge requires sufficient reason to grant one. The statement made quite clearly removes any possible reason for the granting of such an injunction. So, no, the position has changed quite dramatically.

In what sense? We knew on Saturday afternoon that a Heads of Teems agreement had been signed, and Bassini made his (probably empty) threat of court action yesterday. I don't understand why today's statement alters things. If Bassini can prove he has a case that his bid was better, an injunction can still be granted irrespective of what the administrators claim.

Whilst I agree today's statement doesn't alter the overall situation, it does appear to emphasize the process and reasoning by which FVW was chosen, and so that could be taken as a riposte to Bassini's comments and threat of court action.

From Iles article yesterday I think it was important to note that Bassini has made two bids, one linked with West Ham co-owner David Sullivan made as part of the administrators process that eventually resulted in FVW being chosen, and therefore we must assume of a lesser value than the FVW bid, and this new one that appears to have been made in the last 24 hours that Bassini claims is more favourable than the FVW bid. The judge therefore would, presumably, have to determine whether the process itself was fair and proper as accepting Bassini's bid outside of the process, a process he clearly understood, would render the whole process null and void.

FWIW I think Bassini is full of sh*t and won't take the matter to court anyway.