FORUMS > Bradford Bulls > Phoenix from the flames? |
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| Oh im so confused. Well Leon usually rubbishes these things on social media if theyre not true so lets wait and see.
Even for a Bradford fan going through administration 3 times, this is bloody bonkers.
Im with Demon, they may be a meeting with a potential owner but maybe some miscommunication somewhere a long the line
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| Quote: thepimp007 "They will all be sat in the room with Fat Nige saying to players 'Hes behind You!!!''"
Although I dare say all the players could safely hide behind Fat Nige
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| Quote: RickyF1 "What email pal. I have bought mine but not had an email?'"
Someone was attempting to get confirmation of liquidation to satisfy their credit card for their season ticket purchase.
Was posted on the FB group, looked like a pretty standard text that would be sent to everyone.
Just confirmed that the club has not been liquidated yet, and a liquidator would shortly be appointed so that the documents can be sent to Court.
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| Quote: HamsterChops "Which would surely mean Marc Green would end up as a large shareholder. If true, this doesn't fill me with confidence.'"
Who are the largest creditors and would they accept shares instead of debt? I'm struggling to understand how this will all work in a legal sense.
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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
Build Bridges NOT Walls:1271.jpg |
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| Quote: bullsonfire "Depends how much brass they've got!
(Likely very little).'"
However you look at it, they've waited until liquidation was started, so we can only assume they don't intend on spending any more than absolutely necessary.
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| Quote: DemonUK "Not sure about the cap exemption. Definitely a quota exemption was announced but nothing about a cap exemption.'"
Was cap and quota following Crusaders' demise so would expect it be the same this time.
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| Quote: KCNBABT "Who are the largest creditors and would they accept shares instead of debt? I'm struggling to understand how this will all work in a legal sense.'"
No way would HMRC go down this route. Never in a million years.
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| Quote: Bulliac "It may be done by proxy, though. ie a solicitor shows up and reads a paper.'"
The Sun or RLE?
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| Quote: KCNBABT "The latest I've heard is that the new owner would satisfy the creditors by something called a debt to share equity scheme whereby the biggest creditors would dissolve their debt for shares in the club to stop it from officially being liquidated. Genuinely interested to know who this new mystery owner is.'"
If this is the case then i would be so disheartened. Satan himself as a large shareholder....
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438_1551258406.jpg "If you start listening to the fans it won't be long before you're sitting with them," - Wayne Bennett.:d7dc4b20b2c2dd7b76ac6eac29d5604e_438.jpg |
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| Green and HMRC are largest creditors aren't they? Not sure where all this stands legally, especially with the RFL apparently dealing with potential owners of a new club. Has the administrator done something without their approval? If so it won't get far as the RFL are the kingmakers whether in administration or post liquidation.
Difficult to know what's going on without further information.
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438_1551258406.jpg "If you start listening to the fans it won't be long before you're sitting with them," - Wayne Bennett.:d7dc4b20b2c2dd7b76ac6eac29d5604e_438.jpg |
Moderator
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| Quote: KCNBABT "The latest I've heard is that the new owner would satisfy the creditors by something called a debt to share equity scheme whereby the biggest creditors would dissolve their debt for shares in the club to stop it from officially being liquidated. Genuinely interested to know who this new mystery owner is.'"
So Green would become a share holder alongside others (possibly this new person if its to be believed) and hold a large shareholding - but not the majority shareholding.
That'll go down well!
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| If Green ends up involved then I'm done with it all
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| Quote: rugbyreddog "There must be clubs willing to loan us players that should see us OK if we make it to the season.'"
There will be plenty of clubs who will loan you players, if you take the 12 points off your total last year you would have dropped one place (i hope my maths is correct)
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438_1551258406.jpg "If you start listening to the fans it won't be long before you're sitting with them," - Wayne Bennett.:d7dc4b20b2c2dd7b76ac6eac29d5604e_438.jpg |
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| Let's see how it pans out. I'd be amazed if he was still on the scene. If so Mick may need some legal advice...
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13747_1541715311.jpg [b:3g5rrn89](and I feel fine)[/b:3g5rrn89]:d7dc4b20b2c2dd7b76ac6eac29d5604e_13747.jpg |
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| Quote: debbier "There will be plenty of clubs who will loan you players, if you take the 12 points off your total last year you would have dropped one place (i hope my maths is correct)'"
With a team of kids and loanees that can't get a game anywhere else? Right ok. We will be fine then. Don't know what the fuss is about.
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