Re: The 5 runners and riders : Tue Mar 18, 2014 2:16 pm  

Slugger McBatt wrote:

Good way of putting it. I hereby withdraw all my complimentary optimism.

At least you'll fit in better now,

Re: The 5 runners and riders : Tue Mar 18, 2014 2:17 pm  

kinleycat wrote:

But that is the purpose of the administrators job; to get the best deal for the creditors not the club.
If they are so minted why not beat the offer of the other parties?

Maybe the administrator informed the RFL of all bids and the RFL advised "their preffered bidder" to sling in another tenner before the deadline....?

Stinks

Re: The 5 runners and riders : Tue Mar 18, 2014 2:19 pm  

Pumpetypump wrote:

If Mrs K bid £10 but was willing to invest £1m in the Bulls thereafter, she would still lose to A N other who offered £11 and was willing to invest a further 5p.

I could of been interested on them terms

All is not lost

Re: The 5 runners and riders : Tue Mar 18, 2014 2:21 pm  

kinleycat wrote:

But that is the purpose of the administrators job; to get the best deal for the creditors not the club.
If they are so minted why not beat the offer of the other parties?

This is assuming that they all know what each other has bid - but still no one seems to know how the bidding process fully works to answer this theory

Re: The 5 runners and riders : Tue Mar 18, 2014 2:21 pm  

FoxyDread wrote:

The bid has to be acceptable to creditors holding 75% of the debt.

...

No, it doesn't, you're another one getting confused with CVAs too.

Re: Ownership and twists : Tue Mar 18, 2014 2:32 pm  

M@islebugs wrote:

Which begs the question why would anybody invest initial purchase sum and then not invest in the squad?

Maybe the arrangement is they take the body away and quietly bury it before the smell gets too bad?

Re: Ownership and twists : Tue Mar 18, 2014 2:41 pm  

debaser wrote:

Think people are being naive if they really don't think the RFL has any say in who the administrator sells the club too.

But no doubt we will get the whole truth at some point soon.

Not

Agree to first part: extract from Administrator's Report 9/7/2013 re Bradford Bulls Holdings Ltd

5.27 It was agreed that the Joint Administrator would adopt a collaborative approach with the RFL and work alongside them whilst they reviewed the financial and narrative plans they had requested from the bidders.
It was agreed that the RFL would revert to the bidders and request that all plans be submitted by Tuesday 21 August 2012

5.28 Two business plans were subsequently received which were reviewed by the RFL. They undertook a due
diligence process before the preferred bidder was announced.

Anyone who wants to read the whole gob-smacking story of the administration - process, figures, bidders names can find at Companies House for a £1 fee

In the same way the current process will be in the public domain in around a year's time

Re: Ownership and twists : Tue Mar 18, 2014 2:51 pm  

bobsmyuncle wrote:

Agree to first part: extract from Administrator's Report 9/7/2013 re Bradford Bulls Holdings Ltd

5.27 It was agreed that the Joint Administrator would adopt a collaborative approach with the RFL and work alongside them whilst they reviewed the financial and narrative plans they had requested from the bidders.
It was agreed that the RFL would revert to the bidders and request that all plans be submitted by Tuesday 21 August 2012

5.28 Two business plans were subsequently received which were reviewed by the RFL. They undertook a due
diligence process before the preferred bidder was announced.

Anyone who wants to read the whole gob-smacking story of the administration - process, figures, bidders names can find at Companies House for a £1 fee

In the same way the current process will be in the public domain in around a year's time

Oh will go and get that in a year then. It will give me something to read when there is no rugby to go to.

[Pumpetypump]

Re: Ownership and twists : Tue Mar 18, 2014 3:03 pm  

I've merged the two threads so people can find out what's going on (or not) quickly.

Re: Ownership and twists : Tue Mar 18, 2014 3:08 pm  

Some of Gledhills cryptic tweets suggest to me its between Bradford Park Avenue and Bradford City.