Re: Time to move forward..... : Wed Jun 13, 2012 4:32 pm  

Cibaman wrote:

The "£1m to complete the season" sounds grim.

Presumably "developments last Friday" was the HMRC winding up order? I thought we were more or less up to date with HMRC??

Very grim indeed.. that and the fact that they state ` the reality is that this is a loss making business`

Im sure Mr Hood assured us we had a sustainable business plan.. Fingers crossed we've only done it to buy more time whilst potential investors iron out finer details..

Re: Time to move forward..... : Wed Jun 13, 2012 4:48 pm  

for us that dont know what this means

A "notice of intention of appointing administrators" is where the company files, at court, a document that outlines that they intend to go into administration if a solution cannot be found to their immediate financial problems. Once this is notice has been sent to the court a moratorium is created over the company preventing any creditor from starting any legal action or continuing any existing legal action against the company without express permission from the court.

Re: Time to move forward..... : Wed Jun 13, 2012 4:54 pm  

Be interested in Frank W and Pauls comments on latest development as they were pretty certain last week that a financial solution was imminent. Hopefully as others have said this is just to give us breathing space whilst details are finalised.

Re: Time to move forward..... : Wed Jun 13, 2012 5:02 pm  

Adeybull wrote:

Sounding like my hopes may prove optimistic.

Adey what happens at the end of 14 days if we don't appoint administrators? Do we officially withdraw the application of intent ?

Re: Time to move forward..... : Wed Jun 13, 2012 5:12 pm  

Its now in the t&a - http://www.thetelegraphandargus.co.uk/s ... um=twitter

Its now in the t&a - http://www.thetelegraphandargus.co.uk/s ... um=twitter

Re: Time to move forward..... : Wed Jun 13, 2012 5:33 pm  

mat wrote:

Be interested in Frank w and Paula comments on latest development as they were pretty certain last week that a financial solution was imminent. Hopefully as others have said this is just to give us breathing space whilst details are finalised.

It could well be that a financial solution was imminent but that the benefactor was put off (possibly temporarily) by the HMRC proceedings. No point him/her throwing their money away, as the fans may have done.

Re: Time to move forward..... : Wed Jun 13, 2012 6:36 pm  

I get the impression it's purely delay tactics. However, this obviously conflicts with what I was given last week, so I'm no longer sure myself unless something happened pretty quickly.

If another piece of information is correct, we might not be the only club to be filing for administration in the next week or two.

Re: Time to move forward..... : Wed Jun 13, 2012 6:51 pm  

I hope all those who complained about lack of information or half truths about hood understand all boards are like that but our newly formed board is clearly motivated only by caisleys ego and any coulby rubbish about avoiding admin were only delay tactics and he is just a piece in caisleys well thought out chess manouvre

Re: Time to move forward..... : Wed Jun 13, 2012 6:52 pm  

delay or no delay it is still lies we have been fed by two boards

Re: Time to move forward..... : Wed Jun 13, 2012 7:06 pm  

OK then I believe Wakey used the same tactic last year when we were courted by Glover and Parkin, at the death it was going to be Parkin but he allegedly pulled out, Glover then purchased the club from the Administrators.

This is no different to where you are unless you pay the immediate debts, in reality what investor is going to chuck dosh at HMRC when the club can be wound up and bought for a song in administration there appears to be a lot of smoke and mirrors on in the communication strategy of the Bulls no smoke and no mirrors. Prepare for the inevitable and rise from the ashes. The few days in admin whilst investors crawl all over the business will be the critical time around predetors and fire sales etc to pay for the admin charges.

I am no financial expert and I am sure that someone will shoot down what i have said but in laymans terms thats how I saw it at wakey and I see no difference here.