Re: Players meeting with new owner today : Thu Jan 05, 2017 1:36 pm  

RickyF1 wrote:

What email pal. I have bought mine but not had an email?

Someone was attempting to get confirmation of liquidation to satisfy their credit card for their season ticket purchase.

Was posted on the FB group, looked like a pretty standard text that would be sent to everyone.

Just confirmed that the club has not been liquidated yet, and a liquidator would shortly be appointed so that the documents can be sent to Court.

Re: Players meeting with new owner today : Thu Jan 05, 2017 1:37 pm  

HamsterChops wrote:

Which would surely mean Marc Green would end up as a large shareholder. If true, this doesn't fill me with confidence.

Who are the largest creditors and would they accept shares instead of debt? I'm struggling to understand how this will all work in a legal sense.

[Bulliac]

Re: Players meeting with new owner today : Thu Jan 05, 2017 1:38 pm  

bullsonfire wrote:

Depends how much brass they've got!

(Likely very little).

However you look at it, they've waited until liquidation was started, so we can only assume they don't intend on spending any more than absolutely necessary.

Re: Players meeting with new owner today : Thu Jan 05, 2017 1:39 pm  

DemonUK wrote:

Not sure about the cap exemption. Definitely a quota exemption was announced but nothing about a cap exemption.

Was cap and quota following Crusaders' demise so would expect it be the same this time.

Re: Players meeting with new owner today : Thu Jan 05, 2017 1:39 pm  

KCNBABT wrote:

Who are the largest creditors and would they accept shares instead of debt? I'm struggling to understand how this will all work in a legal sense.

No way would HMRC go down this route. Never in a million years.

Re: Players meeting with new owner today : Thu Jan 05, 2017 1:40 pm  

Bulliac wrote:

It may be done by proxy, though. ie a solicitor shows up and reads a paper.

The Sun or RLE?

Re: Players meeting with new owner today : Thu Jan 05, 2017 1:42 pm  

KCNBABT wrote:

The latest I've heard is that the new owner would satisfy the creditors by something called a debt to share equity scheme whereby the biggest creditors would dissolve their debt for shares in the club to stop it from officially being liquidated. Genuinely interested to know who this new mystery owner is.

If this is the case then i would be so disheartened. Satan himself as a large shareholder....

[Bullseye]

Re: Players meeting with new owner today : Thu Jan 05, 2017 1:43 pm  

Green and HMRC are largest creditors aren't they? Not sure where all this stands legally, especially with the RFL apparently dealing with potential owners of a new club. Has the administrator done something without their approval? If so it won't get far as the RFL are the kingmakers whether in administration or post liquidation.

Difficult to know what's going on without further information.

[Bullseye]

Re: Players meeting with new owner today : Thu Jan 05, 2017 1:45 pm  

KCNBABT wrote:

The latest I've heard is that the new owner would satisfy the creditors by something called a debt to share equity scheme whereby the biggest creditors would dissolve their debt for shares in the club to stop it from officially being liquidated. Genuinely interested to know who this new mystery owner is.

So Green would become a share holder alongside others (possibly this new person if its to be believed) and hold a large shareholding - but not the majority shareholding.

That'll go down well!

Re: Players meeting with new owner today : Thu Jan 05, 2017 1:46 pm  

If Green ends up involved then I'm done with it all