Re: Administration 3 - now in technicolour : Fri Dec 30, 2016 11:06 am  

The one thing we do know for certain now is that nobody will bid for the Bulls unless the land is part of the deal. There is no mythical multimillionaire out there who will throw cash at the club without the opportunity of making money from the land. It seem the RFL and council now know this and are probably trying their best.

Unfortunately, the administrator is there to get money for the creditors. He is not working for us supporters.

Re: Administration 3 - now in technicolour : Fri Dec 30, 2016 11:21 am  

If the bid process is blind how do we know this new bid will be any better than the one Green rejected. Or can the administrator tell the new bidder what the last offer was?

Re: Administration 3 - now in technicolour : Fri Dec 30, 2016 11:27 am  

RickyF1 wrote:

If the bid process is blind how do we know this new bid will be any better than the one Green rejected. Or can the administrator tell the new bidder what the last offer was?

No he can't.

[Bullseye]

Re: Administration 3 - now in technicolour : Fri Dec 30, 2016 11:27 am  

Green can't keep rejecting bids forever. The other creditors have a say too.

Re: Administration 3 - now in technicolour : Fri Dec 30, 2016 11:29 am  

Bullseye wrote:

Green can't keep rejecting bids forever. The other creditors have a say too.

Here's is the biggest creditor though so will get the most say.

Edit. I think

Re: Administration 3 - now in technicolour : Fri Dec 30, 2016 11:30 am  

redeverready wrote:

No he can't.

All this talking could be pointless then.

Re: Administration 3 - now in technicolour : Fri Dec 30, 2016 11:31 am  

When it comes to the creditors approval am I right in saying that 75% need to agree?

Is this based on the number of creditors? For example 100 creditors and 75 need to say yes. Or is the percentage represent how much the debt is? For example (figures rounded up/made up for purpose of discussion) Marc Green is owed £600,000 and the rest of creditors owed £400,000. So total debt is £1million. Would Marc Green then represent 60% of the creditors as he is owed 60% of the debt? Just a tad confused about this matter.

If this isn't clear I will happily try to explain it better haha!

Re: Administration 3 - now in technicolour : Fri Dec 30, 2016 11:37 am  

Bulls Boy 2011 wrote:

When it comes to the creditors approval am I right in saying that 75% need to agree?

Is this based on the number of creditors? For example 100 creditors and 75 need to say yes. Or is the percentage represent how much the debt is? For example (figures rounded up/made up for purpose of discussion) Marc Green is owed £600,000 and the rest of creditors owed £400,000. So total debt is £1million. Would Marc Green then represent 60% of the creditors as he is owed 60% of the debt? Just a tad confused about this matter.

If this isn't clear I will happily try to explain it better haha!

Beat me to it! I was trying to fashion a post to ask the same question. Also - is the administrator himself a creditor? because someone has to pay his bill at the end of all this - could he potentially drag this out so long that he gets a majority vote?

[Bullseye]

Re: Administration 3 - now in technicolour : Fri Dec 30, 2016 11:40 am  

Administrator only gets paid if he sells the club as a going concern.

Re: Administration 3 - now in technicolour : Fri Dec 30, 2016 11:40 am  

redeverready wrote:

From what I understand from cryptic Frank the Leo group have been his horse from the get go. So I'm at a loss to explain why it's been reported as a new bid.

Yes Frank has said his horse has been in from the beginning - but he never said it was Leo Group - but with Chalmers being rejected and Frank not confirming they was his horse (which would have made sense) we are now just assuming Frank must have known about Leo's from day one.

The other strange point in the latest T&A article is "....Talks with this latest bidder, who is thought to have been monitoring this process from the start....."! - if that is Danny Sawrij (Leo) - how do the T&A know he's been monitoring it from the start?

This cloak and dagger, smoke and mirrors stuff is no longer "interesting" - its just bloody annoying