Administration and recovery
Moderator: Zulus Thousand of em
Re: Administration and recovery
Let's hope that all that the administrator is waiting on is for the judge to throw it out. Sell the club then all LB can do is sue KA for breach of contract.
What is worrying is the amount of time this is all taking.
I don't think we are ever going to be lucky enough for a simple outcome.
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Re: Administration and recovery
DJBlu wrote: ↑Wed Aug 14, 2019 12:19 pmAlmost as good as his match updates.Worthy4England wrote: ↑Wed Aug 14, 2019 12:18 pmMakes a bit of a nonsense of the "live reporting" blog that Mr Iles has set up...It's going to run
11:03 - Case about to begin...
and nothing...
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Re: Administration and recovery
If we are very very lucky the judge and his clerk are weighing the gold bars as we speak... Bar number 52 judge, another 12.4 kilo...DJBlu wrote: ↑Wed Aug 14, 2019 12:20 pmLet's hope that all that the administrator is waiting on is for the judge to throw it out. Sell the club then all LB can do is sue KA for breach of contract.
What is worrying is the amount of time this is all taking.
I don't think we are ever going to be lucky enough for a simple outcome.
That's not a leopard!
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Re: Administration and recovery
The judge will have to hurry Ilesy will be missing his lunchtime pie.Lost Leopard Spot wrote: ↑Wed Aug 14, 2019 12:28 pmDJBlu wrote: ↑Wed Aug 14, 2019 12:19 pmAlmost as good as his match updates.Worthy4England wrote: ↑Wed Aug 14, 2019 12:18 pmMakes a bit of a nonsense of the "live reporting" blog that Mr Iles has set up...It's going to run
11:03 - Case about to begin...
and nothing...
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Re: Administration and recovery
Better - we're not a goal down yet!DJBlu wrote: ↑Wed Aug 14, 2019 12:19 pmAlmost as good as his match updates.Worthy4England wrote: ↑Wed Aug 14, 2019 12:18 pmMakes a bit of a nonsense of the "live reporting" blog that Mr Iles has set up...It's going to run
11:03 - Case about to begin...
and nothing...
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Re: Administration and recovery
All the caveats around this being a random twitter update but:
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Re: Administration and recovery
A more reliable twitter update
Re: Administration and recovery
The irony of Bolton fans dreading 3pm.
Re: Administration and recovery
Interesting that Iles is reporting that the Defendant's (so Ken's) witnesses include Sir Dave Richards!
"I swear that this statement is true to the best of my knowledge. I've never even heard of the mad f*ck".
Iles also reporting there is a dispute over whether the injunction actually prevents the sale of Burnden Leisure.
Would be nice if the club could crack on and we could leave Ken v Laurence to turn into Jarndyce v Jarndyce.
"I swear that this statement is true to the best of my knowledge. I've never even heard of the mad f*ck".
Iles also reporting there is a dispute over whether the injunction actually prevents the sale of Burnden Leisure.
Would be nice if the club could crack on and we could leave Ken v Laurence to turn into Jarndyce v Jarndyce.
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Re: Administration and recovery
Almost 2 birds one stone outcome.Prufrock wrote: ↑Wed Aug 14, 2019 1:13 pmInteresting that Iles is reporting that the Defendant's (so Ken's) witnesses include Sir Dave Richards!
"I swear that this statement is true to the best of my knowledge. I've never even heard of the mad f*ck".
Iles also reporting there is a dispute over whether the injunction actually prevents the sale of Burnden Leisure.
Would be nice if the club could crack on and we could leave Ken v Laurence to turn into Jarndyce v Jarndyce.
I doubt we're that lucky.
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Re: Administration and recovery
Where's a Hotel Administrator when ya need one?
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Re: Administration and recovery
Some more substantive updates on the Burnden Aces feed:
https://twitter.com/BurndenAces/with_replies
Incidentally, who runs Burnden Aces? I should probably know. It seems very well run.
https://twitter.com/BurndenAces/with_replies
Incidentally, who runs Burnden Aces? I should probably know. It seems very well run.
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Re: Administration and recovery
Various twitter updates, mainly LOV and Burnden Aces, together with the BEN update, seems to suggest that Bassini is mostly relying on a text from Shaun Harvey that suggested he had approval, and now wants more time...
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Re: Administration and recovery
I think he's mainly relying on the fact a SPA was signed by Ken...bristol_Wanderer3 wrote: ↑Wed Aug 14, 2019 1:28 pmVarious twitter updates, mainly LOV and Burnden Aces, together with the BEN update, seems to suggest that Bassini is mostly relying on a text from Shaun Harvey that suggested he had approval, and now wants more time...
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Re: Administration and recovery
Well yes, but the completion of that agreement was subject to Bassini getting EFL approval, which was subject to him providing proof of funds. Bassini appears to be arguing that a text from Shaun Harvey represented EFL approval, and therefore he fulfilled his side of the agreement. KA's team argument is that a text isn't proof of anything and the whole approval process is a formal process with paperwork. No mention from Bassini of him ever providing proof of funds. And now it appears he wants more time (presumably to get funds)...Lost Leopard Spot wrote: ↑Wed Aug 14, 2019 1:31 pmI think he's mainly relying on the fact a SPA was signed by Ken...bristol_Wanderer3 wrote: ↑Wed Aug 14, 2019 1:28 pmVarious twitter updates, mainly LOV and Burnden Aces, together with the BEN update, seems to suggest that Bassini is mostly relying on a text from Shaun Harvey that suggested he had approval, and now wants more time...
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Re: Administration and recovery
Is that a Dickensian way of saying Greedy Bxstard v Greedy Bxstard..?
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Re: Administration and recovery
Everybody keeps on making the mistake that the EFL has some kind of legal right to stop the purchase of a business... They haven't. EFL approval is not required to buy a business. If Ken signed on the dotted line, he signed on the dotted line.bristol_Wanderer3 wrote: ↑Wed Aug 14, 2019 1:40 pmWell yes, but the completion of that agreement was subject to Bassini getting EFL approval, which was subject to him providing proof of funds. Bassini appears to be arguing that a text from Shaun Harvey represented EFL approval, and therefore he fulfilled his side of the agreement. KA's team argument is that a text isn't proof of anything and the whole approval process is a formal process with paperwork. No mention from Bassini of him ever providing proof of funds. And now it appears he wants more time (presumably to get funds)...Lost Leopard Spot wrote: ↑Wed Aug 14, 2019 1:31 pmI think he's mainly relying on the fact a SPA was signed by Ken...bristol_Wanderer3 wrote: ↑Wed Aug 14, 2019 1:28 pmVarious twitter updates, mainly LOV and Burnden Aces, together with the BEN update, seems to suggest that Bassini is mostly relying on a text from Shaun Harvey that suggested he had approval, and now wants more time...
Whether or not Ken's old company, potentially now Lozza's new company has the right to field a team in the English football league is an entirely separate matter.
I do hope Anderson realised that...
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Re: Administration and recovery
That's assuming of course that the agreement for sale wasn't conditional on him getting approval, which if Bassini wasn't nuts you'd definitely assume it would be. From what we've heard so far it sounds like it was (or who cares about Shaun Harvey's text).
More importantly though. Tough. If he's right he should've got an injunction before it went into admin. It's far too late now. His remedy is to sue Ken.
More importantly though. Tough. If he's right he should've got an injunction before it went into admin. It's far too late now. His remedy is to sue Ken.
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Re: Administration and recovery
They don't however if it's written into the contract for completion which I assume as part of a sale of a football club it would be then Bassini shouldn't have a leg to stand on as he has breached the terms of the contract himself by not gaining approval by the EFL.Lost Leopard Spot wrote: ↑Wed Aug 14, 2019 2:11 pmEverybody keeps on making the mistake that the EFL has some kind of legal right to stop the purchase of a business... They haven't. EFL approval is not required to buy a business. If Ken signed on the dotted line, he signed on the dotted line.bristol_Wanderer3 wrote: ↑Wed Aug 14, 2019 1:40 pmWell yes, but the completion of that agreement was subject to Bassini getting EFL approval, which was subject to him providing proof of funds. Bassini appears to be arguing that a text from Shaun Harvey represented EFL approval, and therefore he fulfilled his side of the agreement. KA's team argument is that a text isn't proof of anything and the whole approval process is a formal process with paperwork. No mention from Bassini of him ever providing proof of funds. And now it appears he wants more time (presumably to get funds)...Lost Leopard Spot wrote: ↑Wed Aug 14, 2019 1:31 pmI think he's mainly relying on the fact a SPA was signed by Ken...bristol_Wanderer3 wrote: ↑Wed Aug 14, 2019 1:28 pmVarious twitter updates, mainly LOV and Burnden Aces, together with the BEN update, seems to suggest that Bassini is mostly relying on a text from Shaun Harvey that suggested he had approval, and now wants more time...
Whether or not Ken's old company, potentially now Lozza's new company has the right to field a team in the English football league is an entirely separate matter.
I do hope Anderson realised that...
Allegedly
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Re: Administration and recovery
Absolutely. If there are caveats, clauses or T&C's that make EFL approval essential to buying the club he's fxcked and we move on... My worry is that he got the injunction on the back of 'something', I'm just hoping that Anderson didn't do something stupid which will give the judge reason to extend the injunction... That might not be fatal to Burnden Leisure but it would spell the end of us I fear.Prufrock wrote: ↑Wed Aug 14, 2019 2:15 pmThat's assuming of course that the agreement for sale wasn't conditional on him getting approval, which if Bassini wasn't nuts you'd definitely assume it would be. From what we've heard so far it sounds like it was (or who cares about Shaun Harvey's text).
More importantly though. Tough. If he's right he should've got an injunction before it went into admin. It's far too late now. His remedy is to sue Ken.
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