Administration and recovery

[Worthy4England]

Wouldn’t be Ken if it wasn’t done at 5 to midnight on deadline day so he can trouser a few extra quid. The snake.

Interestingly, one of the things Iles reply-tweeted earlier this weekend was that Ken wanted "a little more money and lot less liability". For what?

He owes £5m at least (suspect more) to EDT.

[Bruce Rioja]

I expect we'll hear from Mr Bassini once again today.

[Dave Sutton's barnet]

Wouldn’t be Ken if it wasn’t done at 5 to midnight on deadline day so he can trouser a few extra quid. The snake.

Interestingly, one of the things Iles reply-tweeted earlier this weekend was that Ken wanted "a little more money and lot less liability". For what?

He owes £5m at least (suspect more) to EDT.

Ah yes, I'd forgotten that in the complicated web of debts and enmities.

[bristol_Wanderer3]

Imho Ken's mind has been firmly focused for about a year. And here we are...

[norm the jedi]

Could someone just make it stop....

[Dave Sutton's barnet]

Imho Ken's mind has been firmly focused for about a year. And here we are...

If we liquidate, does he makes as much as he's been offered?

I'm certain he's on the take. I don't think he necessarily wants the best for the club. But I don't think he'd lose money to kill us.

[Worthy4England]

If we liquidate he'll make less (theoreticlly) coz the whole point of sale out of admin is to try and get a better deal for creditors...

[Worthy4England]

Also have to bear in mind Admins proposals. They said on Club Anderson was owed £1.5 iirc, he said he was owed £7.5m. On hotel they couldn't even come up with an amount for Anderson..

[bristol_Wanderer3]

Imho Ken's mind has been firmly focused for about a year. And here we are...

If we liquidate, does he makes as much as he's been offered?

I'm certain he's on the take. I don't think he necessarily wants the best for the club. But I don't think he'd lose money to kill us.

Well back in March/April time I discussed this with a few people and could certainly see a scenario then where liquidation was his most profitable outcome, albeit with potentially a lot more scrutiny. It was all about his ability to avoid paying his debt to EDT by winding up ICI but still being a secured creditor in liquidation. The situation has obviously developed since then, and that may not be the case now.

I think you have to also factor in the mindset/emotional make up of someone (with a history of dishonesty in liquidating businesses) who was the owner of a football club, which in June 2018, anyone who paid the slightest attention knew had a £4.3m debt to pay, for which a generous former owner was essentially willing to cover, and an operating loss of £5m-£6m to cover, to all the events we have seen in the last 12 months, culminating in us being 48 hours from liquidation, and he is still here, fully involved in the final act.

One thing I am certain of, is that MJ needs to go public very soon. There is nothing to lose. If we are to go bump, personally I don't want us to go out with all the details under NDA. That would be pathetically cowardly.

[Bertie Wooster]

Apparently its Keir Gordon's (EDT's solicitor) signature that is missing not Ken Andersons (sounds like Mark Iles has contacted KA and has been told this ?)

[Dave Sutton's barnet]

Indeed. OBVIOUSLY Ken will have his say.

[Dave Sutton's barnet]

Another admin note.

Further to my previous statement and to clarify absolutely the position, Football Ventures (Whites) Limited (FVWL) are the only bidder to have satisfied the full criteria of the sale process and that remains the position.

Despite persistent but false rumours in the media and on social media, FVWL are the only party to have met these criteria including, but not limited to, providing proof and source of funding and having satisfied the EFL's Owners and Directors Test throughout the Administration, dating back to May 13.

I hope this clarifies the current position.

https://www.bwfc.co.uk/news/2019/august ... wanderers/

[Worthy4England]

My, we are getting twitchy aren't we...

[Dave Sutton's barnet]

I'm all for it. Not only is it good popcorn stuff for those of us in front of a computer on this beautiful day, more importantly, it's saying what needs to be said and hopefully starting the business of flushing the turds.

[DJBlu]

How has it come to this?

All over money. The greasy tangerine nice person.

What's the saying? A special place in hell reserved for KA.

[officer_dibble]

Had to happen. I’m looking forward to Ken’s chairman’s notes. Written by North Korean state media...

[officer_dibble]

How has it come to this?

All over money. The greasy tangerine nice person.

What's the saying? A special place in hell reserved for KA.

I’m looking forward to dancing on his grave.

[DJBlu]

I want to say it'll be reet but I expect everybody is in full panic fanny mode.

[Dave Sutton's barnet]

I want to say it'll be reet but I expect everybody is in full panic fanny mode.

I'm curiously relaxed and optimistic. Part of me suspects that's the denial part of the grief curve but if you look at it intellectually rather than emotionally, we're entering the stage where things actually happen. And it suits nobody, not even Ken, to liquidate.

[Worthy4England]

I want to say it'll be reet but I expect everybody is in full panic fanny mode.

I'm curiously relaxed and optimistic. Part of me suspects that's the denial part of the grief curve but if you look at it intellectually rather than emotionally, we're entering the stage where things actually happen. And it suits nobody, not even Ken, to liquidate.

Agree. It really had to come to this point, preferably about 4 weeks back.