If we go under? (1 Viewer)

torchomatic · Jun 10, 2012

Is that the same Man Utd who are £500M in debt?

Mary_Mungo_Midge · Jun 10, 2012

kduffy said:
Unless you believe in resurection like Donganzolas. Then we can die and be reborn as Man Utd.

Like the Hindu wheel of life? But with football? I like it

dongonzalos · Jun 11, 2012

Interesting never said that, but I feel honoured you fell the need to make u quotes by me Duffy.

All I have done is ask you and Torch a couple of questions about what will actually happen if we do get liquidated or go into administration and if I recall you have struggled a bit with the answers.

You have given me a few poor one liners but struggled to actually seem to really know what will happen.

dongonzalos · Jun 11, 2012

Mary_Mungo_Midge said:
In very simple terms, the liquidation of a company happens when it's the end of the road. The company can put itself into liquidation, or a creditor can (other parties can too bit I won't bore you). The idea is to sell the assets, clear as my h if the debt and bugger off.

Administration is when the day to day activities of a company is placed into the hands of a third-party; normally with an accounting background - who will either try and trade away from the current position with a negotiation with the creditors, or to sell as a going concern.

The former is much more critical than the latter. Neither is good, but one's like breaking your leg, and the other's like being chopped in half with a rusty spoon. If you'll forgive the medical metaphor

Out of interest what is happening to our legs at the moment?

gally9 · Jun 11, 2012

The whole reason i bought my season ticket for the coming season is i thought it couldnt possibly get any worse.. sadly, i believe it probably can and will.

torchomatic · Jun 11, 2012

And i've answered you to the best of my knowledge.

It seems odd that someone who also doesn't know the definitive answer accuses others of struggling. No one knows for sure, but some are willing to take a risk and gamble the division we'd end up in. I'd rather not.

Now stalk someone else.

dongonzalos said:
Interesting never said that, but I feel honoured you fell the need to make u quotes by me Duffy.

All I have done is ask you and Torch a couple of questions about what will actually happen if we do get liquidated or go into administration and if I recall you have struggled a bit with the answers.

You have given me a few poor one liners but struggled to actually seem to really know what will happen.

Astute · Jun 11, 2012

Players are registered with the FL. If liquidation happens the players registrations are held with the Football League, so SISU wouldn't get money for them. They have next to nothing they could get money for if we were liquidated. Why would they choose this way? Admin would be the way. We suposedly owe millions to SISU in loans. These loans must have been passed by the Football League to be legally binding concerning with the running of our club. If it all goes wrong for us then they would have a big hand in what happens to us, and hopefully will do what they can to help us like they have with Pompey after not doing the right thing for them with the "fit and proper" test.

Sky Blue Kid · Jun 11, 2012

torchomatic said:
Is that the same Man Utd who are £500M in debt?

It is said it could be as high as £1.1b depending on who you believe.:facepalm::welcome:

dongonzalos · Jun 11, 2012

torchomatic said:
And i've answered you to the best of my knowledge.

It seems odd that someone who also doesn't know the definitive answer accuses others of struggling. No one knows for sure, but some are willing to take a risk and gamble the division we'd end up in. I'd rather not.

Now stalk someone else.

Sorry mistook you for someone who may be willing to debate and explain your views on here, and make more of an informed choice,no worries you are clearly not, no stalking.

However you maybe right no one may not know the answer. Someone else has just had a look at past clubs going into administration is seems you end up with 70% of debt.

ccfcway · Jun 11, 2012

if you sell the club for "0", which is what its worth, SISU / AVRO / WHOEVER get nothing

if they put the club into admin, the "creditors" who are ARVO get something

if they liquidated the club the get nothing

its that about it ?

dongonzalos · Jun 11, 2012

ccfcway said:
if you sell the club for "0", which is what its worth, SISU / AVRO / WHOEVER get nothing

if they put the club into admin, the "creditors" who are ARVO get something

if they liquidated the club the get nothing

its that about it ?

Yes according to what Astute found.

It seems they would get 20 % from admin and nothing from liquidation.

Good to start getting this info, so we can know what we are ruling out or in as an option

dongonzalos · Jun 11, 2012

The more I find out about it, the more it seems the sensible option for the fans is the administration route.

However it does not seem to be the sensible option for SISU which is always the most important one.

They will be absolutely desperate to get part of that Stadium and the likes of the council are the ones now in a massive position of strength when you look at SISU's options.

The downside is, if they dont get it we will die slowly by a thousand cuts, if they still refuse administration then they will push for the break even point. Which personally I think will mean league 2 will be enivetiable

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