Re: Administration 3 - now in technicolour : Mon Nov 21, 2016 4:37 pm  

Pre-packs are normally done in the same day, this is not a pre-pack.
HMRC forced Green's hand and now we are where we are.

What I find dumb about all this - and this isn't just limited to the Bulls - is that HMRC would have gladly liquidated the company as a result of the monies they were owed. In all likelihood the cash this would have generated would be nowhere near the amount they were claiming, and so the revenue (and ultimately the tax payer) would have lost money.
For whatever reason the alternative solution of working with their debtors and ironing out repayment structures, to make sure that they (eventually) receive the full amount in question plus interest, is never really given a fair crack of the whip.

I've seen this quite a lot, not just with the Bulls or other clubs, and it always seems like a bit of a backwards approach to me.

I guess in our case we were already tainted in their eyes and had simply used up our nine lives.

Re: Administration 3 - now in technicolour : Mon Nov 21, 2016 4:47 pm  

RickyF1 wrote:

What's a pre pack administration?

It;s a club you buy at IKEA.

Re: Administration 3 - now in technicolour : Mon Nov 21, 2016 4:51 pm  

RickyF1 wrote:

Is it the responsibility of the administrators to get as much money for the creditors as possible or are they allowed to take in to account the long term future of the Bulls?

Like all things Bulls, it's a bit of a grey area. The Administrator has to get the best result for the creditors. To do this the club really needs to be a going concern and for this they need some input from the RFL regarding who they would accept as an owner.

Re: Administration 3 - now in technicolour : Mon Nov 21, 2016 7:49 pm  

Who do everyone think is most likely to take over at the bulls?

Re: Administration 3 - now in technicolour : Mon Nov 21, 2016 8:38 pm  

Danny Lockwood tweeting that the Bulls players aren't allowed to train as they aren't insured. It also sounds like he's suggesting that Marc Green has bled the pot dry. Not sure why it's a surprise tbh. If there were a few hundred grand in the bank then we probably wouldn't be in administration.

I hear tragic @OfficialBullsRL news. All cash gone: season tix, sponsorship, players told 'don't train not insured'. Answers Marc Green?

Re: Administration 3 - now in technicolour : Mon Nov 21, 2016 8:51 pm  

Sensei-Bull wrote:

Danny Lockwood tweeting that the Bulls players aren't allowed to train as they aren't insured. It also sounds like he's suggesting that Marc Green has bled the pot dry. Not sure why it's a surprise tbh. If there were a few hundred grand in the bank then we probably wouldn't be in administration.

I hear tragic @OfficialBullsRL news. All cash gone: season tix, sponsorship, players told 'don't train not insured'. Answers Marc Green?

He also wrote a book called The Islamic Republic of Dewsbury and has an assault conviction. I'll not worry too much about his ramblings.

[Bullseye]

Re: Administration 3 - now in technicolour : Mon Nov 21, 2016 8:53 pm  

Must have been cardboard cutouts that have been training this week then.

Re: Administration 3 - now in technicolour : Mon Nov 21, 2016 9:17 pm  

Nothus wrote:

Pre-packs are normally done in the same day, this is not a pre-pack.
HMRC forced Green's hand and now we are where we are.

What I find dumb about all this - and this isn't just limited to the Bulls - is that HMRC would have gladly liquidated the company as a result of the monies they were owed. In all likelihood the cash this would have generated would be nowhere near the amount they were claiming, and so the revenue (and ultimately the tax payer) would have lost money.
For whatever reason the alternative solution of working with their debtors and ironing out repayment structures, to make sure that they (eventually) receive the full amount in question plus interest, is never really given a fair crack of the whip.

I've seen this quite a lot, not just with the Bulls or other clubs, and it always seems like a bit of a backwards approach to me.

I guess in our case we were already tainted in their eyes and had simply used up our nine lives.

I would imagine they work to a pre-determined flowchart and don't have the time or resources to fanny about entering into discussions. It'll be a case of pass it to the lawyers and be done.

Re: Administration 3 - now in technicolour : Mon Nov 21, 2016 9:23 pm  

RickyF1 wrote:

Who do everyone think is most likely to take over at the bulls?

My bet is on someone with no money to invest, no business sense and no idea how to run a rugby club.

Re: Administration 3 - now in technicolour : Mon Nov 21, 2016 9:35 pm  

Sensei-Bull wrote:

Danny Lockwood tweeting that the Bulls players aren't allowed to train as they aren't insured. It also sounds like he's suggesting that Marc Green has bled the pot dry. Not sure why it's a surprise tbh. If there were a few hundred grand in the bank then we probably wouldn't be in administration.

I hear tragic @OfficialBullsRL news. All cash gone: season tix, sponsorship, players told 'don't train not insured'. Answers Marc Green?

Saw that, but also saw a video from training posted by Gary Dempsey. Strikes me that someone is trying to make up his own stories due to us having an administrator this time who prefers NDA's to daily sessions in the lime light.