IF WE WENT IN TO ADMIN

Dundee have offerd 6 pence in a pound and the administrators have accepted so if we went in to admin then how much would Sam think he would get from cardiff it would be nowhere near 24mill so i think its in his best interest not to be greedy with the malaysians or he might end up with nothing thats just my opinion

Dundee have offerd 6 pence in a pound and the administrators have accepted so if we went in to admin then how much would Sam think he would get from cardiff it would be nowhere near 24mill so i think its in his best interest not to be greedy with the malaysians or he might end up with nothing thats just my opinion

we wont go into administration. sam also doesnt want this to happen
so why would it?

Exactly, although the chance of administration is small right now the Malaysians have Hammam in a corner and will screw hom for every penny.

Yes thats exactly what i think to these malaysians are very clever business men thats why they are not throwing their money around for every one else to benefit from

Yet they expect to profit, long term...

And fair play to them because if it was not for them we would have gone into admin at the end of last season

Dundee have offerd 6 pence in a pound and the administrators have accepted so if we went in to admin then how much would Sam think he would get from cardiff it would be nowhere near 24mill so i think its in his best interest not to be greedy with the malaysians or he might end up with nothing thats just my opinion

If we do go into administration any offer be it 6p in the £ or 99p in the £ has to be agreed by at least 75% of the unsecured creditors for the business to exit adminstration.

With the size of the Langston debt they would be very powerful in deciding wether or not any offer is accepted, one thing is certain Langston would not walk away with nothing.

Dundee have offerd 6 pence in a pound and the administrators have accepted so if we went in to admin then how much would Sam think he would get from cardiff it would be nowhere near 24mill so i think its in his best interest not to be greedy with the malaysians or he might end up with nothing thats just my opinion

If we do go into administration any offer be it 6p in the £ or 99p in the £ has to be agreed by at least 75% of the unsecured creditors for the business to exit adminstration.

With the size of the Langston debt they would be very powerful in deciding wether or not any offer is accepted, one thing is certain Langston would not walk away with nothing.

Castleblue

You are quite right about the 75% figure for agreeing an exit .But Langston could only block a proposed deal , they couldn`t force one through themselves as they do not have 75% voting power by themselves.
So the great risk of Administration is that there would be a stalemate and no exit from Administration other than liquidation , which would mean the end of the club and no payback whatsoever for unsecured creditors. Even the secured creditors would struggle to get much back if the Administrators traded on in the short term looking for a buyer as the ground asset can`t be sold , and the players would have a greatly reduced sales value in a "fire sale".
In a liquidation , no-one would get anything as there would be no ticket income for PMG and all player values would disappear as their contracts would become the property of the League .

So the likelihood is that Langston may well walk away with nothing in an Admin. or Liquidation.

In the Dundee case , I know the Administrator Bryan Jackson very well and if the offer is 6p in the £ , then that will be the very best offer possibly available (it is the creditors who accept it , not him). Its the 2nd time in recent years they have gone under.

You are correct since62 - the administrators are the ones who make the 6p in the pound offer - the creditors give it the yay or nay.

Secured creditors get first call on the assets that their loans were secured against. Sadly for Sam, in a moment of uncharacteristic business idiocy his loans were secured against nothing!

If we were declared insolvent, the liklihood is he would get nothing.