FORUMS > The Virtual Terrace > bradford bulls problems |
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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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| Quote: Kosh "Has the deal been agreed? No.
Not accepting a deal isn't the same as rejecting it out of hand. There are always options.'"
Really? You now actually propose that :
"We will not accept a conditional offer"
...means "We might accept a conditional offer"?
It's different, I'll give you that!
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6505_1460484023.jpg [i:10za56ci]Hold on to me baby, his bony hands will do you no harm
It said in the cards, we lost our souls to the Nameless One[/i:10za56ci]:d7dc4b20b2c2dd7b76ac6eac29d5604e_6505.jpg |
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| Quote: Ferocious Aardvark "
It's not difficult. They haven't accepted a conditional offer, but they might well be in a discussion that will result in an unconditional offer being made. Which they could accept.
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6505_1460484023.jpg [i:10za56ci]Hold on to me baby, his bony hands will do you no harm
It said in the cards, we lost our souls to the Nameless One[/i:10za56ci]:d7dc4b20b2c2dd7b76ac6eac29d5604e_6505.jpg |
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| Quote: Cibaman "Fair enough, but as far as I know the consortium haven't made any public statements. All of the comments in the press appear to have been made by the Administrator.
Interestingly, and perhaps worryingly, he still hasn't made any comment on the nitty gritty of the offer. How much if anything they propose to pay creditors.'"
It could well be that the details of the bid are covered under a confidentiality agreement. And there could be perfectly valid commercial reasons for doing that. Or maybe those details will depend on the outcome of the meetings currently taking place.
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17123_1311448581.jpg If you only knew the POWER of the dark side.:d7dc4b20b2c2dd7b76ac6eac29d5604e_17123.jpg |
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6505_1460484023.jpg [i:10za56ci]Hold on to me baby, his bony hands will do you no harm
It said in the cards, we lost our souls to the Nameless One[/i:10za56ci]:d7dc4b20b2c2dd7b76ac6eac29d5604e_6505.jpg |
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| Quote: Anakin Skywalker "Someone is telling fibs here.
Bizarre. Mind you, Guilfoyle has previous for odd things happening during an administration of a sports club.
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| Quote: Kosh "Bizarre. Mind you, Guilfoyle has previous for odd things happening during an administration of a sports club.'"
The articles read as if Gilfoyle is acting as the conduit for all communication between ABC and the RFL. If true that's a recipe for confusion and misunderstanding, particularly as Gilfoyle has his own agenda. They need to get all three parties in a room together.
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6505_1460484023.jpg [i:10za56ci]Hold on to me baby, his bony hands will do you no harm
It said in the cards, we lost our souls to the Nameless One[/i:10za56ci]:d7dc4b20b2c2dd7b76ac6eac29d5604e_6505.jpg |
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| Quote: Cibaman "The articles read as if Gilfoyle is acting as the conduit for all communication between ABC and the RFL. If true that's a recipe for confusion and misunderstanding, particularly as Gilfoyle has his own agenda. They need to get all three parties in a room together.'"
Absolutely. In fact I can't understand why that hasn't happened already. It's all well and good following the strict protocol of everything passing through the Administrator but surely pragmatism has to be applied here?
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2690.jpg :2690.jpg |
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| Do we invite all the other creditors too? This is an Administration process - technically getting the best deal for the creditors who have been screwed over. Those with Rugby League close to their heart are forgetting this. The strict protocol has to remain - it's what happens in Administration unfortunately.
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simpsons/simp006.gif :simpsons/simp006.gif |
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| Quote: littlerich "Do we invite all the other creditors too? This is an Administration process - technically getting the best deal for the creditors who have been screwed over. Those with Rugby League close to their heart are forgetting this. The strict protocol has to remain - it's what happens in Administration unfortunately.'"
Maybe so but, if there is only one deal on the table, then they will automatically be getting the best deal for the creditors, regardless of how good the offer may seem.
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6505_1460484023.jpg [i:10za56ci]Hold on to me baby, his bony hands will do you no harm
It said in the cards, we lost our souls to the Nameless One[/i:10za56ci]:d7dc4b20b2c2dd7b76ac6eac29d5604e_6505.jpg |
Moderator
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| Quote: littlerich "Do we invite all the other creditors too? This is an Administration process - technically getting the best deal for the creditors who have been screwed over. Those with Rugby League close to their heart are forgetting this. The strict protocol has to remain - it's what happens in Administration unfortunately.'"
If the RFL were just another creditor then I'd agree. But it isn't. It's the governing body of the sport that the Bulls - in whatever form they might go forward - play in and it's decisions/opinions will directly impact any buy-out. In this instance it seems to me that a small amount of flexibility would help.
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2690.jpg :2690.jpg |
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| Just out of interest - how does the administrator get his fees? If they liquidate, how does his firm get paid? If they're bought out do the new consortium pay the fees? They're pretty steep too I'd imagine.
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25057_1281800333.jpeg www.hullrockers.co.uk:d7dc4b20b2c2dd7b76ac6eac29d5604e_25057.jpeg |
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| The administrator get's his fee before creditors receive anything from the assets of the business.
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simpsons/simp006.gif :simpsons/simp006.gif |
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| Quote: littlerich "Just out of interest - how does the administrator get his fees? If they liquidate, how does his firm get paid? If they're bought out do the new consortium pay the fees? They're pretty steep too I'd imagine.'"
Yep, they get the first slice of the cake, then probably the bank and there is probably no need to go any further down the list.
In some cases where a company has not already drowned, the preferential creditors will be paid up and what is left in the pot is shared, by percentage, amongst the rest.
Usually though, there is nothing left to share out.
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2690.jpg :2690.jpg |
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| So the administrator must be collecting fees now? If Bradford are bleeding money he's not going to wait until the liquidated end when there could be nothing left. I'll have a google at it all - fascinating stuff.
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simpsons/simp006.gif :simpsons/simp006.gif |
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| Quote: littlerich "So the administrator must be collecting fees now? If Bradford are bleeding money he's not going to wait until the liquidated end when there could be nothing left. I'll have a google at it all - fascinating stuff.'"
Obviously he cant work for nothing and he will make sure that whatever happens, there will be monies available to pay his fees.
If a buyer isn't found and the business is liquidated, then everything would be sold ie players and any other assetts so there is no doubt that they the administrator will be paid.
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