Administration - The way i see it.
Fri Jan 29, 2010 10:02 am
Basically, these are what i think are the options.
1.) Feb 9th Club still hasnt paid the tax bill, Sam comes in, says he will pay the £2.7m on the basis that the board resign. No Administration, Sam gets the club back with the stadium as he wanted it, and doesnt get maybe 5p in the £ from the administrator.
2.) Bill isnt paid, club goes into administration. HMRC get their £2.7m, Sam is left as the biggest creditor, offer is maybe 5p in £, he offers 10p to everyone else, without his own. He is back in the club for cheap with his stadium.
3.) Bill isnt paid, club go into administration, HMRC get paid. TG comes in with an offer of 40p in the £. He buys the club in 2 weeks time for 40% of what he was going to pay for it!
Im not sure if this is why he is holding off buying the club, but if you were buying something and in 3 weeks time you could get it for 40% of the price what would you do? Please correct me if im wrong as i dont know the ins and outs of company law.
goon
1.) Feb 9th Club still hasnt paid the tax bill, Sam comes in, says he will pay the £2.7m on the basis that the board resign. No Administration, Sam gets the club back with the stadium as he wanted it, and doesnt get maybe 5p in the £ from the administrator.
2.) Bill isnt paid, club goes into administration. HMRC get their £2.7m, Sam is left as the biggest creditor, offer is maybe 5p in £, he offers 10p to everyone else, without his own. He is back in the club for cheap with his stadium.
3.) Bill isnt paid, club go into administration, HMRC get paid. TG comes in with an offer of 40p in the £. He buys the club in 2 weeks time for 40% of what he was going to pay for it!
Im not sure if this is why he is holding off buying the club, but if you were buying something and in 3 weeks time you could get it for 40% of the price what would you do? Please correct me if im wrong as i dont know the ins and outs of company law.
goon