Bolton Crisis - UPDATE

Put them under pressure to get a move on / find out if they are serious I guess.

Boggersbelief wrote:"Bolton. New bidder been told to show the money in next 24 hours. Cutting it fine. Critical stage."

"Bolton bidder. Money coming from abroad. But people involved closer to home. And have Prem experience. Leaving it late all the same."

Still 10 to go. These things always left until last minute. Probably entered critical period where serious bidders may come in. Also they may feel ED will weaken in his stance now that time is running out

Don't believe a word of that.

Bit out of left field this one but bear with me.

Does anybody know (yeah, Rammy - lookin' squarely in your direction) if ED's hand can be legally forced by HMRC at the hearing to force him to accept a "reasonable" bid for the business?

I've just been reading a few historical articles on various clubs' sites about when they went into administration and there's obviously a lot of conflicting stuff being said but one idea stuck out.

Somebody on a Plymouth forum, when talking about Ridsdale (his name crops up in relation to quite a few clubs actually) playing brinksmanship with potential suitors and being told by the administrator to stop fucking about and accept a bid.

The logic being that he had a legal responsibility to act in the best interests of the business and its creditors.

Could HMRC do this before they actually enforce administration?

Cheers in advance.

Confused of Worsley.

What offer though?

This is a minefield,but I found this pretty interesting.

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Hipster_Nebula wrote:What offer though?

I've got one eye on the ST clowns because I've got a nasty feeling there may be someone unpleasant lurking in the shadows behind them, waiting to pounce.

I obviously wasn't referring to all the Sports Shield / Mystery Thais / Hilary Devey bollocks.

boltonbonce wrote:This is a minefield,but I found this pretty interesting.

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Bloody hell......got a headache now.

I'll read it again in the morning. 

Very wise.

Hipster_Nebula wrote:Don't believe a word of that.

Ok I'll believe you instead.

Breadman wrote:

Hipster_Nebula wrote:What offer though?

I've got one eye on the ST clowns because I've got a nasty feeling there may be someone unpleasant lurking in the shadows behind them, waiting to pounce.

I obviously wasn't referring to all the Sports Shield / Mystery Thais / Hilary Devey bollocks.

There's this take it or leave it offer from the Korean banker that ED has 24 hours to decide on. Think Birch has the right to say that's the best offer you'll get sunshine take it or I admin you

Breadman wrote:

boltonbonce wrote:This is a minefield,but I found this pretty interesting.

[You must be registered and logged in to see this link.]

Bloody hell......got a headache now.

I'll read it again in the morning. 

The Gretna FC on looks very similar to BWFC. Lots of rumours about interested parties but nothing comes of it and the club got liquidated.



Supporters club may be able to raise £150,000 or so to buy "history and business" and create BWFC 2016 or maybe BW2016FC

FullofSprite wrote:

Breadman wrote:

Hipster_Nebula wrote:What offer though?

I've got one eye on the ST clowns because I've got a nasty feeling there may be someone unpleasant lurking in the shadows behind them, waiting to pounce.

I obviously wasn't referring to all the Sports Shield / Mystery Thais / Hilary Devey bollocks.

There's this take it or leave it offer from the Korean banker that ED has 24 hours to decide on. Think Birch has the right to say that's the best offer you'll get sunshine take it or I admin you

On the off-chance that this is a successful bid, what has CYL done lately for Crystal Palace?  We sure miss his non-injured self at Bolton!

Boggersbelief wrote:

Hipster_Nebula wrote:Don't believe a word of that.

Ok I'll believe you instead.

Just don't believe anyone is interested. Personal opinion only.

FullofSprite wrote:

Breadman wrote:

Hipster_Nebula wrote:What offer though?

I've got one eye on the ST clowns because I've got a nasty feeling there may be someone unpleasant lurking in the shadows behind them, waiting to pounce.

I obviously wasn't referring to all the Sports Shield / Mystery Thais / Hilary Devey bollocks.

There's this take it or leave it offer from the Korean banker that ED has 24 hours to decide on. Think Birch has the right to say that's the best offer
you'll get sunshine take it or I admin you

Ah yes the Imaginary Korean banker. Forgot about him.

It's a Korean bank not a Korean banker

riiiight. Ok.

Breadman wrote:Bit out of left field this one but bear with me.

Does anybody know (yeah, Rammy - lookin' squarely in your direction) if ED's hand can be legally forced by HMRC at the hearing to force him to accept a "reasonable" bid for the business?

I've just been reading a few historical articles on various clubs' sites about when they went into administration and there's obviously a lot of conflicting stuff being said but one idea stuck out.

Somebody on a Plymouth forum, when talking about Ridsdale (his name crops up in relation to quite a few clubs actually) playing brinksmanship with potential suitors and being told by the administrator to stop fucking about and accept a bid.

The logic being that he had a legal responsibility to act in the best interests of the business and its creditors.

Could HMRC do this before they actually enforce administration?

Cheers in advance.

Confused of Worsley.

Essentially no. HMRC are listed as a pre -preferential creditor and can do nothing until the court hearing places the club in administration. Then they will take their place in the queue with the other creditors. They can bring pressure to bear ,but the reality is that they cannot legally force Eddys hand. Just because they're HMRC doesn't give them any specific rights  beyond demanding to be paid after the club has been put in administration and assets are sold to satisfy creditors demands.

Cheers Rammy.

I knew you'd know.

Breadman wrote:Cheers Rammy.

I knew you'd know.

My pleasure Bredders. I'm watching the ST developments as well to see what the outcome of that might be once the turmoil has died down a little.
Lets see if the Koreans can come up with the folding stuff. I don't think the ST would have the potential to do much in a business of this size. Despite us being on the rocks it's still a multi million pound business and needs ownership and management that reflects that.