FORUMS > Bradford Bulls > Phoenix from the flames? |
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| The liquidation has not yet been presented to the courts so albeit he had to make the staff redundant the club is still in admin so Petttitt is still legally in control.
The RFL had to act assuming the liquidation would go through so they started a new bidding process.
The administrators have found a new way to satisfy the creditors (MG).
None of this puts the RFL nose out of joint it is just an unexpected turn of events. They have to still approve the club getting a licence.
Is this letting MG have shares to wrest control of the Coral stand from him. The charge he put on the business would presumably be against the only real club asset which would be the boxes and hospitality suite. If he still 'owns' that when a new company takes over they have little option but to 'rent' it of MG or have no use of it.
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Pollsters doing Excellent job - say recent polls.: |
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| Quote: vbfg " the remaining 50k, a figure cited by the RFL,'"
Thats to other championship clubs. I think we owe Dewsbury about £20k, Fev about £21k & Whitehaven about £8k. I'm not sure what for but I would assume pre-match ticket sales?
RFL had said they would cover it & take it out of our central funding this season but thats vanishing day by day.
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Pollsters doing Excellent job - say recent polls.: |
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| Oh, Derwent beat me to it, sorry
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| Quote: Bullmans Parade "I'm not buying all this "trying to deceive the RFL and back them into a corner" stuff.
I would rather believe that what has happened is that Richardson & co have simply put themselves into a position that represents the best option for the RFL and that they would be stupid to turn down. It's like going to a job interview and telling your prospective employer (who is desperate for a new member of staff ASAP) "I can start tomorrow, I don't need to serve 4 weeks notice elsewhere before I'm available"
After all, the RL are the governing body, they hold all the cards. it would be naive of anybody to think they could force their hand'"
That's similar to how i see it. The time to the new season is a big thing.
From what i understand the latest bidder failed last week and staff were made redundant and the administrator put a statement out saying he will liquidate the club. At this point i believe Marc Green (Who the administrator has a LEGAL duty to get the best deal for as he is the largest creditor. Not happy with it but the law is above me) has panicked as he knows he'll get squat from liquidation and has compromised.
I reckon Richardson may have been one of the bidders accepted by the RFL. Players are going at a rate of knots, so he has being pro-active, maybe already deemed acceptable by the RFL previously if he was one of the bidders in talks with the RFL previously, talked to the players so we don't lose anymore, brought the domain and setup the company and we are ready to go to start the new season. Unfortunately due to the size of the debt unless we had a sheikh prince buying us, a lot of the creditors were going to lose out. I don't like it, I don't agree with it. But it's not as if they were going to get a better deal from Liquidation.
The RFL's process is in response to the liquidation letter. The new season is fast approaching and if we were due to be liquidated, we need a board, kit, players, stadium agreement. Maybe their liquidation process is now Plan B.
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| Quote: vbfg "FWIW, League Express have a live stream about this on FB right now.
The guy from Halifax is getting his knickers in a twist isn't he
Strange people from there, don't think a 12 point deduction, loss of central funding and losing a good number of our best players is a punishment. We'd need to be hung drawn and quartered at the Shay to get our just desserts in some people's eyes
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| Quote: Bull Mania "That's similar to how i see it. The time to the new season is a big thing.
From what i understand the latest bidder failed last week and staff were made redundant and the administrator put a statement out saying he will liquidate the club. At this point i believe Marc Green (Who the administrator has a LEGAL duty to get the best deal for as he is the largest creditor. Not happy with it but the law is above me) has panicked as he knows he'll get squat from liquidation and has compromised.
I reckon Richardson may have been one of the bidders accepted by the RFL. Players are going at a rate of knots, so he has being pro-active, maybe already deemed acceptable by the RFL previously if he was one of the bidders in talks with the RFL previously, talked to the players so we don't lose anymore, brought the domain and setup the company and we are ready to go to start the new season. Unfortunately due to the size of the debt unless we had a sheikh prince buying us, a lot of the creditors were going to lose out. I don't like it, I don't agree with it. But it's not as if they were going to get a better deal from Liquidation.
The RFL's process is in response to the liquidation letter. The new season is fast approaching and if we were due to be liquidated, we need a board, kit, players, stadium agreement. Maybe their liquidation process is now Plan B.'"
It's the only scenario that makes any sense to me. Green says to Pettit, get me n with the guys who you turned down after the RFL accepted their bid and lets cut a deal so I get something back.
Also, will benefit all creditors, they will get more if this happens than liquidation, hope it comes right for them too
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| Interesting stipulation in the new bids piece nicely tucked away..... People of INFLUENCE must pass the fit and proper test. Apply this here and Green is well within rights to be a silent shareholder
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| Quote: Mirfieldbull "The guy from Halifax is getting his knickers in a twist isn't he
I've got a question, is Rick from Halifax able to ask a question without having a go at Bradford? So far he's had 3 attempts and failed miserably.
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11062.gif A casual stroll throught the lunatic asylum shows that faith does not prove anything.:11062.gif |
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| Quote: Sensei-Bull "I've got a question, is Rick from Halifax able to ask a question without having a go at Bradford? So far he's had 3 attempts and failed miserably.'"
Don't be ridiculous. The answer is clearly no.
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| Quote: Scarey71 "Interesting stipulation in the new bids piece nicely tucked away..... People of INFLUENCE must pass the fit and proper test. Apply this here and Green is well within rights to be a silent shareholder'"
Define "influence". Like I said it depends on whether his shareholding is enough to have any influence. If not then no big deal. If yes then no deal.
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| Quote: Scarey71 "Interesting stipulation in the new bids piece nicely tucked away..... People of INFLUENCE must pass the fit and proper test. Apply this here and Green is well within rights to be a silent shareholder'"
Depends the %age of shares he has against the biggest one. If he has say a third if the shares he's an influence, les than that, he's noise. Let's face it, there doesn't seem to be any previous link between Green and Richardson, so I don't see how he could have been in a strong negotiating position to demand a big share.
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42850_1303637344.jpg WE ARE WAKEFIELD, WITHOUT THE RICHARDSONS’ WE ARE STRONGER:d7dc4b20b2c2dd7b76ac6eac29d5604e_42850.jpg |
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| Quote: KCNBABT "What is going to transpire is that Gary pettit rejected a bid approved by the RFL, only then to have accepted one this 11th hour one from Green Thorne Richardson. With Green Duffy Thorne taking steps, behind the scenes, to stymie any other realistic options so that themselves are in a position to hold the RFL to ransom over accepting this new ownership. I fully expect the players who selfishly know all this to take action against me but at least the truth is out.'"
To be fair to the players you can't blame them if they feel this gives them the best option of maintaining an income at the contracted salary they had agreed previously. I am sure we would all do the same with families to provide for and bills to pay
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| God I must sound like a broken record but nobody is clarifying my point...
The criteria outlined yesterday were for a NEW rugby club to be admitted were they not? We are talking about an EXISTING club, so those criteria may very well not even apply to this scenario!
Secondly, if we are to believe that Chalmers and Lowe's bid was approved by the RFL, then they supposedly passed the fit and proper persons test despite their past dealings, so who's to actually say Green wouldn't pass? Who knows what the criteria for the fit and proper persons test actually is?
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973_1515165968.gif Last edited by Ferocious Aardvark on stardate Jun 26, 3013 11:27 am, edited 48,562,867,458,300,023 times in total:d7dc4b20b2c2dd7b76ac6eac29d5604e_973.gif |
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| Players "selfish"? WTF?
On what basis would a player being effectively offered continued employment at the club where he plays be "selfish" to sign up?
What would they suggest? "No way, not unless the people who got the last company into administration pay off all that company's debts, I prefer to lose my job and my house and send the wife down the dole office, cos I'm not 'selfish', me. Never mind that the deal complies fully with English law and is passed by the RFL, there's a guy on the internet who would call me selfish if I keep my job so no, that's a red line for me, that guy".
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| Quote: Mirfieldbull "The guy from Halifax is getting his knickers in a twist isn't he
Shaw is a total and utter kn0b typical idiot halifax inferiority complex, moron
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