Administration and recovery

[Dave Sutton's barnet]

Work?

[Lost Leopard Spot]

Work?

[Lost Leopard Spot]

I've re-read the Quantuma statement yet again.

One thing stands out, and one thing still confuses me.
The thing that stands out is this, the last paragraph:

"[Quantuma] are keen to reiterate their position in respect to the football club; they remain committed to giving every assistance to aid a successful solution to their situation, however they can only transact with those bidders who put forward a credible offer that can be considered is in the best interest of the creditors and staff of the hotel.” - that tells me in no uncertain terms that they think FV's bid is a joke.

I'm still confused as to who are the recipients of the two SPAs sent out. Not as in whom, but as in are FV even one of the two?

[irie Cee Bee]

The statement from Quantuma suggests to me that FV is being given every opportunity to come up with a better offer and show the money, as the people of Bolton, and the economy of the town needs a football club. However, there is a better offer on the table from Kamani, who by the way, from all indications, is not interested in the club.

BWFC is in trouble as without the hotel, FV will not take the club. Gone are the days when people are willing to pour money into a club outside of the PL which they know will result in heavy losses, unless they are billionaires who love football and want to have something exciting to look forward to on the weekends to keep away their boredom.

[Dave Sutton's barnet]

I've re-read the Quantuma statement yet again.

One thing stands out, and one thing still confuses me.
The thing that stands out is this, the last paragraph:

"[Quantuma] are keen to reiterate their position in respect to the football club; they remain committed to giving every assistance to aid a successful solution to their situation, however they can only transact with those bidders who put forward a credible offer that can be considered is in the best interest of the creditors and staff of the hotel.” - that tells me in no uncertain terms that they think FV's bid is a joke.

I'm still confused as to who are the recipients of the two SPAs sent out. Not as in whom, but as in are FV even one of the two?

It's not crystal-clear. Perhaps that's because it's secret, I dunno. But not so secret they can't say this:

The joint administrators are mindful of the relationship between the businesses and the advantage of returning them to single ownership and have given every assistance to the advisors of Football Ventures throughout the process.

The joint administrators do, however, have a duty to all creditors and currently given the current position of the Football Ventures negotiations with the football club administrators and its secured creditors they are duty bound to explore the interest from other parties in the business.

Following the marketing process seven offers were received. A due diligence process of the bidding parties’ proof of funds and a credibility assessment of the prospective purchasers suitability were undertaken and the legal advisors to two parties are now reviewing the Sale and Purchase Agreements sent to them for consideration.

Now, a reader may draw a line from "Helping FV" to "two parties", but it's not explicit.

I wouldn't say the final paragraph says "in no uncertain terms" that FV are out of the race; more than Quantuma have to keep their options open. But you might be right.

[Gary the Enfield]

If we are going to go to the wall I hope at the very least that we beat Bury to it.........

Imagine the bragging rights if they go first!

Tallest dwarf / silver linings and all that.........

[Lost Leopard Spot]

I've re-read the Quantuma statement yet again.

One thing stands out, and one thing still confuses me.
The thing that stands out is this, the last paragraph:

"[Quantuma] are keen to reiterate their position in respect to the football club; they remain committed to giving every assistance to aid a successful solution to their situation, however they can only transact with those bidders who put forward a credible offer that can be considered is in the best interest of the creditors and staff of the hotel.” - that tells me in no uncertain terms that they think FV's bid is a joke.

I'm still confused as to who are the recipients of the two SPAs sent out. Not as in whom, but as in are FV even one of the two?

It's not crystal-clear. Perhaps that's because it's secret, I dunno. But not so secret they can't say this:

The joint administrators are mindful of the relationship between the businesses and the advantage of returning them to single ownership and have given every assistance to the advisors of Football Ventures throughout the process.

The joint administrators do, however, have a duty to all creditors and currently given the current position of the Football Ventures negotiations with the football club administrators and its secured creditors they are duty bound to explore the interest from other parties in the business.

Following the marketing process seven offers were received. A due diligence process of the bidding parties’ proof of funds and a credibility assessment of the prospective purchasers suitability were undertaken and the legal advisors to two parties are now reviewing the Sale and Purchase Agreements sent to them for consideration.

Now, a reader may draw a line from "Helping FV" to "two parties", but it's not explicit.

I wouldn't say the final paragraph says "in no uncertain terms" that FV are out of the race; more than Quantuma have to keep their options open. But you might be right.

I would note this also - Quote "There has been a slight delay in the sale process following what is believed to be a vexatious and spurious legal claim. The joint administrators do, however, expect to conclude a sale with the successful bidder over the next couple of weeks."
I'm assuming everybody is concluding this is the BASSINI Intervention, with the odd person thinking it might yet be Anderson doing a Bassini in regards to the hotel sale. Yet, and I say this cautiously having reread the Quantuma statement another three times, it might actually refer to FV. If, for example, the two SPAs sent out for consideration are to party Aheyhey and Beeboohoo, then might not FV have put a spanner in the works if they think they about to be overlooked? Two things militate against the above scenario; first, if FV did that it is improper to describe it as vexatious I would have thought, secondly, we would probably have seen some action in court by now or at least heard reports of it.
Fevered Brain Syndrome, it can strike at any time...

[Lost Leopard Spot]

If we are going to go to the wall I hope at the very least that we beat Bury to it.........

Imagine the bragging rights if they go first!

Tallest dwarf / silver linings and all that.........

Yup

[Dave Sutton's barnet]

I would note this also - Quote "There has been a slight delay in the sale process following what is believed to be a vexatious and spurious legal claim. The joint administrators do, however, expect to conclude a sale with the successful bidder over the next couple of weeks."
I'm assuming everybody is concluding this is the BASSINI Intervention, with the odd person thinking it might yet be Anderson doing a Bassini in regards to the hotel sale. Yet, and I say this cautiously having reread the Quantuma statement another three times, it might actually refer to FV. If, for example, the two SPAs sent out for consideration are to party Aheyhey and Beeboohoo, then might not FV have put a spanner in the works if they think they about to be overlooked? Two things militate against the above scenario; first, if FV did that it is improper to describe it as vexatious I would have thought, secondly, we would probably have seen some action in court by now or at least heard reports of it.
Fevered Brain Syndrome, it can strike at any time...

Aye. With respect, I think you may be worrying about the monster in the cupboard when actually a murderous burglar's climbed in through the window...

[BWFC_Insane]

I've re-read the Quantuma statement yet again.

One thing stands out, and one thing still confuses me.
The thing that stands out is this, the last paragraph:

"[Quantuma] are keen to reiterate their position in respect to the football club; they remain committed to giving every assistance to aid a successful solution to their situation, however they can only transact with those bidders who put forward a credible offer that can be considered is in the best interest of the creditors and staff of the hotel.” - that tells me in no uncertain terms that they think FV's bid is a joke.

I'm still confused as to who are the recipients of the two SPAs sent out. Not as in whom, but as in are FV even one of the two?

It's not crystal-clear. Perhaps that's because it's secret, I dunno. But not so secret they can't say this:

The joint administrators are mindful of the relationship between the businesses and the advantage of returning them to single ownership and have given every assistance to the advisors of Football Ventures throughout the process.

The joint administrators do, however, have a duty to all creditors and currently given the current position of the Football Ventures negotiations with the football club administrators and its secured creditors they are duty bound to explore the interest from other parties in the business.

Following the marketing process seven offers were received. A due diligence process of the bidding parties’ proof of funds and a credibility assessment of the prospective purchasers suitability were undertaken and the legal advisors to two parties are now reviewing the Sale and Purchase Agreements sent to them for consideration.

Now, a reader may draw a line from "Helping FV" to "two parties", but it's not explicit.

I wouldn't say the final paragraph says "in no uncertain terms" that FV are out of the race; more than Quantuma have to keep their options open. But you might be right.

I would note this also - Quote "There has been a slight delay in the sale process following what is believed to be a vexatious and spurious legal claim. The joint administrators do, however, expect to conclude a sale with the successful bidder over the next couple of weeks."
I'm assuming everybody is concluding this is the BASSINI Intervention, with the odd person thinking it might yet be Anderson doing a Bassini in regards to the hotel sale. Yet, and I say this cautiously having reread the Quantuma statement another three times, it might actually refer to FV. If, for example, the two SPAs sent out for consideration are to party Aheyhey and Beeboohoo, then might not FV have put a spanner in the works if they think they about to be overlooked? Two things militate against the above scenario; first, if FV did that it is improper to describe it as vexatious I would have thought, secondly, we would probably have seen some action in court by now or at least heard reports of it.
Fevered Brain Syndrome, it can strike at any time...

I know what the legal issue is........I don't fully understand it - but I know what it is.

[Bertie Wooster]

What an absolute bloody mess this is.

It was 'so called' minutes from being completed 10 days ago to this, disgraceful from everyone concerned - both admins, FV, Bassini. Not one of them gives a toss about BWFC or its supporters they are all in this just for themselves. Football Ventures have messed everyone about yet again, they have history don't they the admins should have known this.

I'll say it again, and I'm not having a pop at him personally and I do not doubt that he's a Bolton fan - but how can he (MJ) sit silently and allow this charade to go on, its unbelievable. If they (FV) haven't got the required funds between them to complete or buy the hotel, then for the sake of the future of the club surely MJ should have come out weeks ago and given someone else (even Bassini) a chance. I'm sorry but its disgraceful behaviour by Football Ventures.

[BWFC_Insane]

What an absolute bloody mess this is.

It was 'so called' minutes from being completed 10 days ago to this, disgraceful from everyone concerned - both admins, FV, Bassini. Not one of them gives a toss about BWFC or its supporters they are all in this just for themselves. Football Ventures have messed everyone about yet again, they have history don't they the admins should have known this.

I'll say it again, and I'm not having a pop at him personally and I do not doubt that he's a Bolton fan - but how can he (MJ) sit silently and allow this charade to go on, its unbelievable. If they (FV) haven't got the required funds between them to complete or buy the hotel, then for the sake of the future of the club surely MJ should have come out weeks ago and given someone else (even Bassini) a chance. I'm sorry but its disgraceful behaviour by Football Ventures.

You are directing your anger to the wrong place. But you are right it is a disgrace!

[Dave Sutton's barnet]

how can he (MJ) sit silently and allow this charade to go on, its unbelievable.

Maybe he can't afford the higher price.

Maybe he thinks the other bidders have overbid, in an attempt to take it out of his reach.

Maybe he genuinely fears for the future of the club if the other bidders win.

Maybe he's ringing round all the rich folks he knows, trying to raise the funds.

Maybe we don't know.

Maybe it's a bit more complicated than winning an eBay auction. Just as football's a bit more complicated than "play the kids, they can't do any worse."

I'm confident that MJ is hurting as much as you are. Probably more, because (1) he's seen where the bodies are buried and (2) he's come oh so close to taking over.

As has been said, we're all hurting, we're all worried, we're all angry. But taking it out on MJ seems unreasonably harsh.

[BWFC_Insane]

how can he (MJ) sit silently and allow this charade to go on, its unbelievable.

Maybe he can't afford the higher price.

Maybe he thinks the other bidders have overbid, in an attempt to take it out of his reach.

Maybe he genuinely fears for the future of the club if the other bidders win.

Maybe he's ringing round all the rich folks he knows, trying to raise the funds.

Maybe we don't know.

Maybe it's a bit more complicated than winning an eBay auction. Just as football's a bit more complicated than "play the kids, they can't do any worse."

I'm confident that MJ is hurting as much as you are. Probably more, because (1) he's seen where the bodies are buried and (2) he's come oh so close to taking over.

As has been said, we're all hurting, we're all worried, we're all angry. But taking it out on MJ seems unreasonably harsh.

Did ya see my PM earlier? Seems its deleted itself from my sent box...

[Bertie Wooster]

DSB I'm not taking it out on MJ, I just can't understand why he (as a genuine loyal BWFC fan) knowing what the situation is in regards to playing the kids, tomorrow postponement etc. wouldn't have come out & been totally honest and said that he's tried his best but for whatever reason he just hasn't been able to do the deal whether that's a lack of funds, KA, Bassini - they FV have been given plenty of time to get this sorted knowing full well the consequences of this continued delay.

Paul Appleton isn't blameless in this, he should never have appointed FV preferred bidder when their deal was conditional on the hotel sale.

[Dave Sutton's barnet]

DSB I'm not taking it out on MJ, I just can't understand why he (as a genuine loyal BWFC fan) knowing what the situation is in regards to playing the kids, tomorrow postponement etc. wouldn't have come out & been totally honest and said that he's tried his best but for whatever reason he just hasn't been able to do the deal whether that's a lack of funds, KA, Bassini - they FV have been given plenty of time to get this sorted knowing full well the consequences of this continued delay.

Paul Appleton isn't blameless in this, he should never have appointed FV preferred bidder when their deal was conditional on the hotel sale.

I'd say that wouldn't be an ideal negotiation tactic
Maybe he will, mate. I dunno. I think we all know the main man we should be angry at. Clue: he's the guy who appointed the second set of administrators.

[irie Cee Bee]

DSB I'm not taking it out on MJ, I just can't understand why he (as a genuine loyal BWFC fan) knowing what the situation is in regards to playing the kids, tomorrow postponement etc. wouldn't have come out & been totally honest and said that he's tried his best but for whatever reason he just hasn't been able to do the deal whether that's a lack of funds, KA, Bassini - they FV have been given plenty of time to get this sorted knowing full well the consequences of this continued delay.

Paul Appleton isn't blameless in this, he should never have appointed FV preferred bidder when their deal was conditional on the hotel sale.

What was his option? Liquidation?

[Dave Sutton's barnet]

Did ya see my PM earlier? Seems its deleted itself from my sent box...

Nope. Odd.

[Lost Leopard Spot]

Did ya see my PM earlier? Seems its deleted itself from my sent box...

Nope. Odd.

Fxcking Russians...

[Lost Leopard Spot]

I've re-read the Quantuma statement yet again.

One thing stands out, and one thing still confuses me.
The thing that stands out is this, the last paragraph:

"[Quantuma] are keen to reiterate their position in respect to the football club; they remain committed to giving every assistance to aid a successful solution to their situation, however they can only transact with those bidders who put forward a credible offer that can be considered is in the best interest of the creditors and staff of the hotel.” - that tells me in no uncertain terms that they think FV's bid is a joke.

I'm still confused as to who are the recipients of the two SPAs sent out. Not as in whom, but as in are FV even one of the two?

It's not crystal-clear. Perhaps that's because it's secret, I dunno. But not so secret they can't say this:

The joint administrators are mindful of the relationship between the businesses and the advantage of returning them to single ownership and have given every assistance to the advisors of Football Ventures throughout the process.

The joint administrators do, however, have a duty to all creditors and currently given the current position of the Football Ventures negotiations with the football club administrators and its secured creditors they are duty bound to explore the interest from other parties in the business.

Following the marketing process seven offers were received. A due diligence process of the bidding parties’ proof of funds and a credibility assessment of the prospective purchasers suitability were undertaken and the legal advisors to two parties are now reviewing the Sale and Purchase Agreements sent to them for consideration.

Now, a reader may draw a line from "Helping FV" to "two parties", but it's not explicit.

I wouldn't say the final paragraph says "in no uncertain terms" that FV are out of the race; more than Quantuma have to keep their options open. But you might be right.

I would note this also - Quote "There has been a slight delay in the sale process following what is believed to be a vexatious and spurious legal claim. The joint administrators do, however, expect to conclude a sale with the successful bidder over the next couple of weeks."
I'm assuming everybody is concluding this is the BASSINI Intervention, with the odd person thinking it might yet be Anderson doing a Bassini in regards to the hotel sale. Yet, and I say this cautiously having reread the Quantuma statement another three times, it might actually refer to FV. If, for example, the two SPAs sent out for consideration are to party Aheyhey and Beeboohoo, then might not FV have put a spanner in the works if they think they about to be overlooked? Two things militate against the above scenario; first, if FV did that it is improper to describe it as vexatious I would have thought, secondly, we would probably have seen some action in court by now or at least heard reports of it.
Fevered Brain Syndrome, it can strike at any time...

I know what the legal issue is........I don't fully understand it - but I know what it is.

Go on then, spill the beanz...