Re: Time to move forward..... : Wed Jun 13, 2012 9:24 pm  

paulwalker71 wrote:

I wondered that. I'm amazed that the decision to let Bateman just clear off to Australia right in the crucial part of the season hasn't drawn more ire. If we're going to get docked 6 points, then it hardly seems to matter as we'd have zero chance of reaching the playoffs anyway.

On the substantive point, it seems we now have a 'put up or shut up' scenario. If any these 'investors' or 'benefactors' or whatever the hell they are are genuine and serious, then they now need to get their cheque books out in the next two weeks.

I wonder what the realistic chances of that happening actually are?

Bateman was told he could tour at the start of the season if selected.

Re: Time to move forward..... : Wed Jun 13, 2012 9:33 pm  

To be fair to the lad, I don't think we should hold him back if he has the opportunity to tour Australia.

Re: Time to move forward..... : Wed Jun 13, 2012 9:44 pm  

Paul124897 wrote:

I get the impression it's purely delay tactics. However, this obviously conflicts with what I was given last week, so I'm no longer sure myself unless something happened pretty quickly.

If another piece of information is correct, we might not be the only club to be filing for administration in the next week or two.

Well, not connected to this board, I have been told different things about the Bulls predicament by genuine people I know and trust on the same subjects, with both parties certain they knew the truth of the particular matter under discussion...but both have different things incorrect or at least not fully accurate, and we can't square the circles.

I've stopped beliving anything I'm told or read about the Bulls, from anyone, and so as a consquence I've also stopped commenting as there seems little point when I don't think anyone on here knows anywhere near the whole story. I await the endgame and might help pick over the ashes (or hopefully cheer the phoenix)

kinleycat wrote:

Keep your bits well clenched, your wallets in your pockets, and your faith in the future of your club.
Good luck, but you'll all be alright.

Ta, possibly the only piece of sound advice on the whole thread....except maybe vbfg's thoughts on the use of a bat

Re: Time to move forward..... : Wed Jun 13, 2012 9:47 pm  

P&a don't get to this stage unless there is a pay day. And I do have knowledge of them before anyone asks.

Frank whitcombe where are you now?

Fa and gb were right all along!

Sad day for the club and all fans.

Re: Administration : Wed Jun 13, 2012 10:00 pm  

bewareshadows wrote:

The thing with admin is that it is no longer in Caisley's hands. If they go into admin the creditors take control and they could easily liquidate rather than take a cheap offer. Suddenly all players are for sale and it's the creditors interests not the clubs interest that are key.

Sorry but you seem not to understand the nature and purposes of administration.

Re: Administration : Wed Jun 13, 2012 10:17 pm  

Adeybull wrote:

Sorry but you seem not to understand the nature and purposes of administration.

Are you saying that administration is not run for the benefit of the creditors, whether that ends up as a CVA, selling as a going concern or liquidating it?



I always thought that was the way it went. Therefore Caisley buying the club for £1 would not be correct unless the creditors accept that it's the best offer.

Maybe I'm wrong and administration is run for the benefit of the shareholders, I'm willing to accept being wrong, but I've not seen it anywhere that administration is used for that purpose.

Re: Administration : Wed Jun 13, 2012 10:27 pm  

Adey is saying its to buy time which is sensible. If the current board can convince the administrators that there are investors ready to put money in they will be appointed but will do nothing to harm the club. As far Caisley getting the club for £1 I seriously doubt this as you still have to pay a minimum percentage of your debt to exit administration.

Re: Administration : Wed Jun 13, 2012 10:35 pm  

That was my point, I was not suggesting the club would be liquidated, but that Caisley could not just put it into admin and buy it for £1 as though it was all his choice.

Sure it can be used to buy time, just like a CVA could be the outcome. But admin to me does not put all the cards in Caisleys hands, where as some seam to think it's a way of him getting it on the cheap. He may get the club on the cheap, but not for £1 surely.

Re: Administration : Wed Jun 13, 2012 10:44 pm  

To say im totally vexed off right now is a understatement, but it's not as though it wasn't comming!!!

So is it going to be a Friday Monday with caisley emerging victorious with a 100% holding of the club? Or is there any suger daddy's in the wings to keep caisleys grubby little paws of our club!

Plus if there is investers ready to put money into our club, why wouldn't they just wait for admin and just buy the club?

Re: Administration : Wed Jun 13, 2012 10:48 pm  

The £1 thing is something that has happened in sport, mainly football, several times.

A club goes into administration and the administrators sell the club to a "new company" which usually sees a significant portion of the clubs debt wiped out. I believe it's called something like a "pre-pack buy back" or something along those lines

Bates did it at Chelsea and he did it at Leeds. So it's not too much of a leap to imagine a similar scenario playing out at Odsal