I think the talk is about buying it, then renting it out to us.y2johnny wrote:Sale sharks AND the rfl want the Macron
True story
Bloody cheek.
I think the talk is about buying it, then renting it out to us.y2johnny wrote:Sale sharks AND the rfl want the Macron
True story
Well better than polishing his love length.boltonbonce wrote:They're polishing his brass neck as we speak.
He wouldn't polish that. He'd be too cheap to pay a finders fee.karlypants wrote:Well better than polishing his love length.boltonbonce wrote:They're polishing his brass neck as we speak.
boltonbonce wrote:He wouldn't polish that. He'd be too cheap to pay a finders fee.karlypants wrote:Well better than polishing his love length.boltonbonce wrote:They're polishing his brass neck as we speak.
Its quite a complicated picture. If BWFC have defaulted on payingLeeds_Trotter wrote:So what will happen with our assets, are they to be sold off or if someone was to purchase the club in admin, could they then pay off the money owed and us keep the assets?
Seems like the problem is who has the primary right to appoint the Administrator. They'll all want to appoint their own man. Perhaps it will end up with joint AdministratorsSluffy wrote:Club Statement
The Club would like to update supporters on the current situation in respect of the proposed administration process and the events at court yesterday given some of the misleading reports surrounding the matter.
Ken Anderson filed the Notice of Intent to appoint an administrator forms with the court yesterday morning for both Bolton Wanderers Football Club and Bolton Whites Hotel in his position as a qualifying floating charge holder on both companies. Later in the day Flidraw Limited, on behalf of the late Eddie Davies's Trust, also filed similar documents for both Burnden Leisure and Bolton Wanderers Football Club having served demand notices on both companies earlier in the day.
Although the procedure of formally appointing the Administrator can take up to ten days the hope is that this matter will be finalised very shortly allowing the work to commence immediately on the process needed to be undertaken.
The long term security of the club, its supporters and the loyal staff is paramount in the hope of a speedy resolution to the process.
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With that said, the people who are wanting to take over do they have a charge against most our assets?rammywhite wrote:Its quite a complicated picture. If BWFC have defaulted on payingLeeds_Trotter wrote:So what will happen with our assets, are they to be sold off or if someone was to purchase the club in admin, could they then pay off the money owed and us keep the assets?
either the capital or interest on loans on which the lender has a fixed charge and chooses to exercise that charge then they can claim the asset as theirs and the asset leaves the club. So if someone has lent and the collateral (the security)l is a fixed charge on the car park, then the car park belongs to them. Hopefully they would lease it back to us if we survive at the Unibol. If there is a floating charge (i.e. not fixed on any particular asset and the club has defaulted on payment of capital ( the amount lent) or interest, then the charge crystallises and the lender can have their choice of any remaining assets covered by the charge. They don't need to exercise their right to 'receive 'or claim the asset- they could renegotiate the loan.
So, in answer to your question, virtually all the assets could end up in the hands of the lenders in settlement of their loans, and we end up with nothing.
I should add that this can't happen until the Administrator has produced the Statement of Affairs and that can take up to 8 weeks from the date of their appointment
Leeds_Trotter wrote:With that said, the people who are wanting to take over do they have a charge against most our assets?rammywhite wrote:Its quite a complicated picture. If BWFC have defaulted on payingLeeds_Trotter wrote:So what will happen with our assets, are they to be sold off or if someone was to purchase the club in admin, could they then pay off the money owed and us keep the assets?
either the capital or interest on loans on which the lender has a fixed charge and chooses to exercise that charge then they can claim the asset as theirs and the asset leaves the club. So if someone has lent and the collateral (the security)l is a fixed charge on the car park, then the car park belongs to them. Hopefully they would lease it back to us if we survive at the Unibol. If there is a floating charge (i.e. not fixed on any particular asset and the club has defaulted on payment of capital ( the amount lent) or interest, then the charge crystallises and the lender can have their choice of any remaining assets covered by the charge. They don't need to exercise their right to 'receive 'or claim the asset- they could renegotiate the loan.
So, in answer to your question, virtually all the assets could end up in the hands of the lenders in settlement of their loans, and we end up with nothing.
I should add that this can't happen until the Administrator has produced the Statement of Affairs and that can take up to 8 weeks from the date of their appointment
Probably Welsh.Hipster_Nebula wrote:How does he know foreign.
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