[Pumpetypump]

Re: Administration 3 - now in technicolour : Fri Nov 18, 2016 12:57 pm  

The Devil's Advocate wrote:

But how would you feel about the club reneging on it's debt to presumably it's biggest creditor?

Would you prefer someone to come along & pay off a percentage of the debt, take a points deduction, & stay in the Championship or, start from scratch debt free in Division One (if that's even allowed)?

My personal choice, not that it counts for anything, would be to stiff the taxman and pay off as many of the small and medium enterprises as possible. They will be operating on the slimmest of margins in my instances, and as I say I really feel uncomfortable that they suffer through 'our' perpetual incompetence. I doubt that approach would be compatible with a reduced points deduction though.

Re: Administration 3 - now in technicolour : Fri Nov 18, 2016 1:04 pm  

Not paying the debt in full would I expect drop us into League 1. Probably would cost more than the debt over a few years. The players would still expect their contracts to be honoured!! The debt is worth paying to have a club in the championship with a full squad rather than a part time squad in league 1. But I'm just a fan and think us paying our dues is the right thing to do.

Re: Administration 3 - now in technicolour : Fri Nov 18, 2016 1:07 pm  

http://media.therfl.co.uk/docs/Insolven ... %20PDF.pdf There you go pumpy.

http://media.therfl.co.uk/docs/Insolven ... %20PDF.pdf There you go pumpy.

Re: Administration 3 - now in technicolour : Fri Nov 18, 2016 1:18 pm  

[url= http://www.bradfordbulls.co.uk/news/pos ... g-together]Link to the latest info/url] So at least 6 bids so far. At least someone thinks we're worth saving

[url= http://www.bradfordbulls.co.uk/news/pos ... g-together]Link to the latest info/url] So at least 6 bids so far. At least someone thinks we're worth saving

Re: Administration 3 - now in technicolour : Fri Nov 18, 2016 2:00 pm  

Pumpetypump wrote:

And that's understandable but utterly perverse. I don't like, for example, the thought of my beloved club being instrumental in bringing hardship to small companies and suppliers.

I'm not sure there'll be a lot of small creditors. They will have mostly been asking for up front payment.

The two main ones would seem to be Green - £650k
And HMRC - between £35k and £250k depending if the administrator and/or new owner is allowed to still challenge the VAT calculation.
And one of them can whistle for their money, at this moment in time.

[Bulliac]

Re: Administration 3 - now in technicolour : Fri Nov 18, 2016 3:26 pm  

Highlander wrote:

I'm not sure there'll be a lot of small creditors. They will have mostly been asking for up front payment.

The two main ones would seem to be Green - £650k
And HMRC - between £35k and £250k depending if the administrator and/or new owner is allowed to still challenge the VAT calculation.
And one of them can whistle for their money, at this moment in time.

I think we also have to remember that it's out of season so many, if not all, of the general 'ongoing' expenses will be on hold - except maybe the account at Staples.

Re: Administration 3 - now in technicolour : Fri Nov 18, 2016 3:49 pm  

Highlander wrote:

I'm not sure there'll be a lot of small creditors. They will have mostly been asking for up front payment.

The two main ones would seem to be Green - £650k
And HMRC - between £35k and £250k depending if the administrator and/or new owner is allowed to still challenge the VAT calculation.
And one of them can whistle for their money, at this moment in time.

Anyone who bought a season ticket will be classed as a creditor having handed money over and at this point potentially getting nothing in return. That figure could be around the £150-200k mark.

[Bulliac]

Re: Administration 3 - now in technicolour : Fri Nov 18, 2016 3:59 pm  

BD20 wrote:

Anyone who bought a season ticket will be classed as a creditor having handed money over and at this point potentially getting nothing in return. That figure could be around the £150-200k mark.

Assuminng the club carries on, I imagine the people who have paid[includes me, btw] will still get their tickets. I fully understand we've no 'right' to anything but, at the end of the day it's an awful lot of regular customers to pig off and to do so would be the pragmatic thing to do in the long term.

Otherwise we're hoping the current entity comes through the process intact! Mind, I've paid by card, so shuld be able to get my money back if the worst comes to the worst.

Re: Administration 3 - now in technicolour : Fri Nov 18, 2016 4:12 pm  

If the new owner pays off all the debt, then why should they get any points penalty at all?

[Bulliac]

Re: Administration 3 - now in technicolour : Fri Nov 18, 2016 4:24 pm  

debaser wrote:

If the new owner pays off all the debt, then why should they get any points penalty at all?

I think six points is now the minimum just for being in admin, it could be 12 if we don't pay everything off - surely you know they always bring in some new penalty evey time we go into admin? or is it that we're always just unlucky?