iceking Posted March 24, 2008 Share Posted March 24, 2008 If we went into administration, would Vlad be removed from power and the club put up for sale ? If this happened what would happen with the debt - would we automatically go bust if no-one could take on the debt? Link to comment Share on other sites More sharing options...
Dirk Diggler Posted March 24, 2008 Share Posted March 24, 2008 If we went into administration, would Vlad be removed from power and the club put up for sale ? If this happened what would happen with the debt - would we automatically go bust if no-one could take on the debt? Where were you in January? We were in administration on 6 seperate occasions. Link to comment Share on other sites More sharing options...
Only a Game Posted March 24, 2008 Share Posted March 24, 2008 If we went into administration, would Vlad be removed from power and the club put up for sale ? If this happened what would happen with the debt - would we automatically go bust if no-one could take on the debt? The whole point of administration is so that an outside body can be appointed when a compnay can no longer trade. This outside body asseses the assets, asseses the debts and sells the assets to clear proportions of the debt. In our case our assets are owned by the same company who we owe the debt to. There would therefore be little point in us going into administration whilst UBIG own us. In fact I think it might be illegal. He's not going to put us into administration. He would lose ?millions if he did, He'll have to sell to someone prepared to service the debt or dissolve the club voluntarily and walk away with nothing at all except the revenue from assets he can sell (the stadium) Link to comment Share on other sites More sharing options...
PTBCAL Posted March 25, 2008 Share Posted March 25, 2008 The whole point of administration is so that an outside body can be appointed when a compnay can no longer trade. This outside body asseses the assets, asseses the debts and sells the assets to clear proportions of the debt. In our case our assets are owned by the same company who we owe the debt to. There would therefore be little point in us going into administration whilst UBIG own us. In fact I think it might be illegal. He's not going to put us into administration. He would lose ?millions if he did, He'll have to sell to someone prepared to service the debt or dissolve the club voluntarily and walk away with nothing at all except the revenue from assets he can sell (the stadium) Perversely, our debt being around ?80m would relax me more than it is now (approx ?30m odd if including Gordon money). The stadium and the land he has agreed to buy would likely to repay the current debt if sold in today's market, so he could walk away and probably break about even. Debt of ?80m and he has to make it a success to even think of getting a return. Link to comment Share on other sites More sharing options...
cobbyshambles Posted March 25, 2008 Share Posted March 25, 2008 who would want to buy our crock of ****? Link to comment Share on other sites More sharing options...
i8hibsh Posted March 25, 2008 Share Posted March 25, 2008 who would want to buy our crock of ****? Well said They are putting shame on themsleves and should be lined up against a wall Link to comment Share on other sites More sharing options...
Strachsuit Posted March 25, 2008 Share Posted March 25, 2008 who would want to buy our crock of ****? hahahaha. couldn't agree more, well said mate. Link to comment Share on other sites More sharing options...
stevie Posted March 25, 2008 Share Posted March 25, 2008 who would want to buy our crock of ****? ME! unfortunately i am a bit light in the cash department and cant afford to. Link to comment Share on other sites More sharing options...
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