@Erroll_Sims said:
Kirchner has walked away slamming the administrators for dithering on his bid and describing Mel Morris as a "proper f*** job"
Sadly it seems DCFC cannot get out from under the hand and influence of Morris even though he doesnt own them anymore
I think it is likely his move is tactical. The Administrator has a legal duty to sell the club ASAP to raise funds to pay off its creditors (albeit a small fraction of the debt).
Unless someone else puts in a realistic bid, the Administrator will eventually snatch Kirchner's hand off for any bid.
I think it is likely his move is tactical. The Administrator has a legal duty to sell the club ASAP to raise funds to pay off its creditors (albeit a small fraction of the debt).
Unless someone else puts in a realistic bid, the Administrator will eventually snatch Kirchner's hand off for any bid.
Might not be a small fraction. To continue as an EFL club footballing debts must be covered 100%. HMRC as preferred creditor will probably want 100% if football is covered 100%. Rest of debt must be at least 25%.
With football and HMRC making the majority of the DCFC debt I would imagine, even if a HMRC deal can be agreed, that at least 50% of current debt would be needed.
I have many doubts that it is Mr Couhig & or Steve Gibson that are impeding the sale. Closer to the mark would be HMRC and local business owed monies. £28 million to HMRC at a time when the government are borrowing untold fortunes, I doubt that they are too willing to write it off entirely?
Derby fans on the whole must have been at least vaguely aware that Morris et al were gambling their futures on the "promised land". As such, the horse that they enjoyed the ride on didn't come in the top 2 and now the piper has come calling.
Lets be honest, even at our more humble level there were plenty of fans calling out Steve Hayes & didn't the acronym PYCAH come from his tenure? So to claim the "we are being punished by others unfairly" is going to fall on many a deaf ear.
@ReturnToSenda
I’d imagine a sale could go through with legal proceedings ongoing provided the purchasers agree to cover legal costs and the potential awards against the club - the full amounts of the various claims. However other creditors might not agree to 25p in the £ if they feel other claims are to be settled in full later.
Whatever way it goes it needs to be sorted sooner rather than later for the good of all football.
There aren't legal proceedings, what we've done is notify the administrators of our claim as a creditor so they can notify potential buyers of what might be waiting for them.
HMRC way higher up the list, can expect the whole thing to be sorted soon after that is.
The main reasons to back us RC on this are A) They blatantly cheated B ) Despite claiming poverty you can be sure given half the chance they'll shift whatever debt they are allowed to, conclude a sale then the new owners start spending money like it's going out of fashion.
I can hear the howls of anguish from the RGS all the way from here.
Anyone remember the advert that went something along the lines of . . .
Excuse me marm, is pence spelt with a c or an s?
Reply: I don't think you need to worry about that dear!
I can hear the howls of anguish from the RGS all the way from here.
It’s a moot point as cheques will soon go the way of green shield stamps, luncheon vouchers, and those little paying in books you got from the building society.
It’s a moot point as cheques will soon go the way of green shield stamps, luncheon vouchers, and those little paying in books you got from the building society.
Took my paying in book to the building society earlier this week, drew a counter cheque which I walked round to my local bank branch and handed over in person along with a paying in slip this avoiding a £20 transfer charge. A most satisfying mornings admin.
Comments
I think it is likely his move is tactical. The Administrator has a legal duty to sell the club ASAP to raise funds to pay off its creditors (albeit a small fraction of the debt).
Unless someone else puts in a realistic bid, the Administrator will eventually snatch Kirchner's hand off for any bid.
Might not be a small fraction. To continue as an EFL club footballing debts must be covered 100%. HMRC as preferred creditor will probably want 100% if football is covered 100%. Rest of debt must be at least 25%.
With football and HMRC making the majority of the DCFC debt I would imagine, even if a HMRC deal can be agreed, that at least 50% of current debt would be needed.
But if they go under the creditors get nothing @carrickblue.
I have many doubts that it is Mr Couhig & or Steve Gibson that are impeding the sale. Closer to the mark would be HMRC and local business owed monies. £28 million to HMRC at a time when the government are borrowing untold fortunes, I doubt that they are too willing to write it off entirely?
Derby fans on the whole must have been at least vaguely aware that Morris et al were gambling their futures on the "promised land". As such, the horse that they enjoyed the ride on didn't come in the top 2 and now the piper has come calling.
Lets be honest, even at our more humble level there were plenty of fans calling out Steve Hayes & didn't the acronym PYCAH come from his tenure? So to claim the "we are being punished by others unfairly" is going to fall on many a deaf ear.
‘Put your checkbook away Hayes.’
The sale can't go through while there are legal proceedings in progress, can it?
No. That's why we jammed our claim in wasn't it?
So they'll need to find a way to see us off satisfactorily in order for it to go through smoothly.
@ReturnToSenda
I’d imagine a sale could go through with legal proceedings ongoing provided the purchasers agree to cover legal costs and the potential awards against the club - the full amounts of the various claims. However other creditors might not agree to 25p in the £ if they feel other claims are to be settled in full later.
Whatever way it goes it needs to be sorted sooner rather than later for the good of all football.
C> @floyd said:
Chequebook son
I can hear the howls of anguish from the RGS all the way from here.
There aren't legal proceedings, what we've done is notify the administrators of our claim as a creditor so they can notify potential buyers of what might be waiting for them.
HMRC way higher up the list, can expect the whole thing to be sorted soon after that is.
The main reasons to back us RC on this are A) They blatantly cheated B ) Despite claiming poverty you can be sure given half the chance they'll shift whatever debt they are allowed to, conclude a sale then the new owners start spending money like it's going out of fashion.
Anyone remember the advert that went something along the lines of . . .
Excuse me marm, is pence spelt with a c or an s?
Reply: I don't think you need to worry about that dear!
It’s a moot point as cheques will soon go the way of green shield stamps, luncheon vouchers, and those little paying in books you got from the building society.
I hope they get a buyer as the fans have done nothing wrong. I would hate us to be in the same position.
Merry Xmas !!!
Took my paying in book to the building society earlier this week, drew a counter cheque which I walked round to my local bank branch and handed over in person along with a paying in slip this avoiding a £20 transfer charge. A most satisfying mornings admin.