Quote martinwildbull="martinwildbull"And theres a few dates that on the face of it do not add up. on the 20th January Moore was stating that the cuts had just about been made and whilst not quite there the future was looking more stable, and also that agreement had been reached about transfer of control and it was proceeding to contracts. On the other hand 10 days later theres an admin order (apparently the insolvency event) that seemingly catches out Moore and the RFL. '"
But there is no surprise whatsoever, if you listen to what I have been telling you. Funny, that.
Quote martinwildbull="Northernrelic"From the initial statement from the Administrator it is clear there isn't a copper for any of the creditors, so no effort will be put into examining the numbers or digging out the truth. So you could claim to be owed £20m and basically the Administrator would shrug his shoulders and say "Whatever".
But as Adey points out it's kind of ironic that OK's arguing he was owed more but it wasn't reflected in the books - the accuracy of which both he and the other Directors were responsible.'"
I think it's very common knowledge that in the early stages, OKB had no banking facilities so of necessity everything went through other already existing accounts eg my season ticket purchase money went to a company linked to the Lister Hotel as no doubt did all others at the same time.
My understanding, which I've said before, is that when the statement of affairs was released, the administrator had not contacted OK and that curious omission could explain why he did not have the information.
Quote martinwildbull="Adeybull"Seems to me that various parties to this whole sorry saga are seeking to rearrange the deckchairs on the Titanic to reflect their version of events...months after it sank. '"
The relevance of the £1m is to do with control. If OK holds the majority then he can force an investigation into the administration. If he is not the majority creditor then he can't. Some may suggest in the latter scenario, the space under the carpet might be rather full. It is of course possible some people might prefer carpet to investigation.
Of course, the RFL ought to keep proper books and records etc. just like OKB or any company, and some may find it odd therefore that if they were owed £1m, that wasn't in the statement of affairs either. Nor did it appear at all until the eleventh hour before the creditors' meeting. Perhaps the RFL had simply forgotten.
Bradford Council, you may think, might be pretty neutral in the administration; wouldn't they simply prove their claim and stand by and just observe? Of course, if you do the arithmetic, it would be the case that any call for an investigation into the administration could be thwarted, if OK was outvoted, and we know the Council had £200k-worth of votes. If the Council did not abstain, but sided with the RFL, OK would have been outvoted.
It seems to me that a better analogy might be seeking to bury the technical drawings of the bulkheads and watertightness etc., ships logs, speed, direction charts, iceberg warnings etc. that might shed some light onto why the Titanic sank. I'm sure some might say "Look, the boat's on the bottom, don't ask any questions, what difference does it make? Just move on". But I don't think that's how it works, nor how it should work.