I've stayed away from places like this since early April. Making an exception, given the potential for real damage from uninformed or malicious comment. Then, as as you were.

My take on what I have read. No inside info, nothing other than what I have read. In particular, though, the wording of the OP's post - which may or may not be a bit mischievous but certainly IMO encourages jumping to conclusions - does not necessarily say what some of you guys look to have assumed it means.

1 - Yes, a new company Bradford Bulls (2014) ltd looks to have been incorporated. Forget all the waknerage from commercial sites, just go look at Companies House www.companieshouse.gov.uk for free.

2 - No, this does NOT in itself necessarily signify ANYTHING. For example, it could just be to protect the Bradford Bulls company name (although I suspect more than that).

3 - I cannot conceive that there is any intent by the new board to put the CLUB (note emphasis) into Administration AGAIN. Were they to do that, it would surely be goodnight Vienna for everyone - including themselves. After all that has gone on, I think anyone would hesitate to totally rule out the possibility, but it would surely have to be a desperate last resort tied up with the situation with OK rather than the club finances?

4 - OK Bulls Ltd has a big liability - secured by a charge on its assets - to OK. We were told c.£900k, IIRC?

5 - If I was the new Board, I would do my best to move the assets and all the non-OK liabilities into a new holding or subsidiary - or even just a connected company, if OK had not put anything in place to prevent it - to separate them from the liability to OK. That way, OK Bulls Ltd becomes a company with assets of loan to/shares in/whatever Newco, and a liability to OK. Everything else is in Newco. And OK's position is not compromised because the charge on the assets of OK Bulls ltd will include on the loan to/shares in Newco.

6 - Most definitely, if I was the new Board I would want to quarantine the club going forward from anything OK and the previous owners did or might have rendered the company liable for (known or unknown to them). For example, if it transpired that OK Bulls Ltd owed someone heaps (or someone had a big claim against it) that no-one knew about or some supposedly injured party came up with, a new liability that could bring down the club, you protect against that by shifting the club into Newco. Then, should OK Bulls Ltd go bust, that does not automatically bring down the CLUB. The administrator would presumably sell the interest in Newco for the most he could get, and the CLUB - being Newco - continues.

Ok, my take on what I have read. Given the ongoing tragic comedy that has been the Bulls for the last two years it would be foolish to rule anything in or out. But maybe the possible scenario I outlined might demonstrate that this could quite easily be a very positive development (unless maybe for OK) and not necessarily indcative of anything negative?

Ok, as you were.. Be well, guys.

I've stayed away from places like this since early April. Making an exception, given the potential for real damage from uninformed or malicious comment. Then, as as you were.

My take on what I have read. No inside info, nothing other than what I have read. In particular, though, the wording of the OP's post - which may or may not be a bit mischievous but certainly IMO encourages jumping to conclusions - does not necessarily say what some of you guys look to have assumed it means.

1 - Yes, a new company Bradford Bulls (2014) ltd looks to have been incorporated. Forget all the waknerage from commercial sites, just go look at Companies House www.companieshouse.gov.uk for free.

2 - No, this does NOT in itself necessarily signify ANYTHING. For example, it could just be to protect the Bradford Bulls company name (although I suspect more than that).

3 - I cannot conceive that there is any intent by the new board to put the CLUB (note emphasis) into Administration AGAIN. Were they to do that, it would surely be goodnight Vienna for everyone - including themselves. After all that has gone on, I think anyone would hesitate to totally rule out the possibility, but it would surely have to be a desperate last resort tied up with the situation with OK rather than the club finances?

4 - OK Bulls Ltd has a big liability - secured by a charge on its assets - to OK. We were told c.£900k, IIRC?

5 - If I was the new Board, I would do my best to move the assets and all the non-OK liabilities into a new holding or subsidiary - or even just a connected company, if OK had not put anything in place to prevent it - to separate them from the liability to OK. That way, OK Bulls Ltd becomes a company with assets of loan to/shares in/whatever Newco, and a liability to OK. Everything else is in Newco. And OK's position is not compromised because the charge on the assets of OK Bulls ltd will include on the loan to/shares in Newco.

6 - Most definitely, if I was the new Board I would want to quarantine the club going forward from anything OK and the previous owners did or might have rendered the company liable for (known or unknown to them). For example, if it transpired that OK Bulls Ltd owed someone heaps (or someone had a big claim against it) that no-one knew about or some supposedly injured party came up with, a new liability that could bring down the club, you protect against that by shifting the club into Newco. Then, should OK Bulls Ltd go bust, that does not automatically bring down the CLUB. The administrator would presumably sell the interest in Newco for the most he could get, and the CLUB - being Newco - continues.

Ok, my take on what I have read. Given the ongoing tragic comedy that has been the Bulls for the last two years it would be foolish to rule anything in or out. But maybe the possible scenario I outlined might demonstrate that this could quite easily be a very positive development (unless maybe for OK) and not necessarily indcative of anything negative?

Ok, as you were.. Be well, guys.