FORUMS > Bradford Bulls > Confirm or Deny!! |
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| Quote: Nothus "Why does it? Why is Marc having to use his own money to pay the wages? That in itself is enough to set alarm bells ringing for me.
The club wages should be paid by the club, using club funds, from the club bank account. Marc's personal affairs should never even come into it.'"
Whoever comes up with the monthly wage bill must now hand that money to the RFL for them to pay the players and staff.
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| Quote: Nothus "Let's just wait and see what Friday brings. We might not need 'saving' at all.'"
I hope this this is the case.
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| Quote: MicktheGled "The reason the bank freezes accounts is because all transactions between presentation and hearing of a WUP are voidable in the event that the WUP succeeds, and the bank can be liable to pay back any amounts paid out of the account in that period.
So unfortunately the club's and Marc Green's accounts are isolated until the September hearing.'"
But the club just came off the back of another WUP a few month ago and it's accounts weren't frozen.
The difference here appears to be the £4.5m that is owed to HMRC via companies in Liquidation under common ownership.
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| Green going back on his hols does remind me a little of The Office when David Brent tells everyone they’re being made redundant but good news is that he’s been promoted.
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| Quote: BD20 "But the club just came off the back of another WUP a few month ago and it's accounts weren't frozen.
The difference here appears to be the £4.5m that is owed to HMRC via companies in Liquidation under common ownership.'"
I need to be careful how I word this but when I spoke to companies house about linking companies they explained it like this to me...
EG: if person A has been involved in company A and company A then goes into liquidation owing HMRC significant figures but person A also has a company B that has been late paying HMRC.
The only link between the two companies is that the Bradford Bulls use Marc Green's safe guard company to provide security on match days.
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| So because Marc's accounts are frozen then the only way the wages will be payed is by borrowing it from somebody else. If the hearing isn't until September then we'll have another pay day before then. I don't see this ending well at all.
Marc strikes me as a very proud man but I hope he swallows his pride and does what's best for him, his family and the club. If there's an opportunity to sell the club then he needs to take it as there's no way that his situation will get anything other than worse by carrying on.
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13747_1541715311.jpg [b:3g5rrn89](and I feel fine)[/b:3g5rrn89]:d7dc4b20b2c2dd7b76ac6eac29d5604e_13747.jpg |
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| It seems pretty unfair that the Bulls (a separate entity) are suffering because of the "failings" of an unrelated company.
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| Quote: MicktheGled "I need to be careful how I word this but when I spoke to companies house about linking companies they explained it like this to me...
EG
Surely the link between the two companies is Marc Green?
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| To me also with this mystery "investor" is it someone willing to invest or someone wanting to buy the club? If the former why havent they already had a word with green and come to an arrangement? Seems to me its another one who wants to ride in like a white knight and use the club for personal gratification as previous people have done
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| Quote: MicktheGled "I need to be careful how I word this but when I spoke to companies house about linking companies they explained it like this to me...
EG
The companies in Liquidation and the Bradford Bulls have identical shareholdings as can be confirmed freely on the public records held at companies house. 55% to Marc and 45% to his wife.
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| Quote: MicktheGled "The only link between the two companies is that the Bradford Bulls use Marc Green's safe guard company to provide security on match days.'"
The link is that Marc is a shareholder and director of both companies.
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| Think basically we are in the s**t.
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| Quote: Sensei-Bull "Surely the link between the two companies is Marc Green?'"
But the Ltd company is the legal entity isn't it so unless there was clear evidence that the companies were truly linked?
Again why didn't the RFL pay the wages from this month's central contribution? I know it would have denied the T&A their sport but it would have stopped further damage to the clubs incomes (i.e. us) etc whilst the appeal was heard, it would also have stopped the ambulance chaser charging and kept the squad settled.
After all it's not in their interest to lose a revenue stream in regards to rent. Or is it?
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1271.jpg Whenever you find yourself on the side of the majority, it is time to pause and reflect.
Mark Twain
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| Quote: Dannyboywt "Why wait until wage deadline day and not step in now, also if it's a new owner isn't it cheaper to buy the club after admin again?'"
Well, yes it would be, little doubt, [ihowever[/i the club would be diminished and lose value due to the administration process. Going into admin means a points reduction for starters [which also means reduced competition money the following year], maybe a 'fine' of TV money, as occurred previously. It also means that players and staff are allowed to cancel their contracts, it means lots of people doing business with the club, eg suppliers etc will probably lose out and be pigged off - and just as importantly it hurts, embarrasses and disaffects the very supporters any new business needs if it is to be successful.
Probably best avoided, if possible, imo.
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| Quote: MicktheGled "The reason the bank freezes accounts is because all transactions between presentation and hearing of a WUP are voidable in the event that the WUP succeeds, and the bank can be liable to pay back any amounts paid out of the account in that period.
So unfortunately the club's and Marc Green's accounts are isolated until the September hearing.'"
Not a chance that his personal bank accounts been frozen are in anyway connected to anything that has gone on with the Bulls. Anyone who believes that is quite simply naive.
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