Just a Thought on the Administrator (2 Viewers)

mark82 · Aug 15, 2013

Just seen Hearts supporters group 'Foundation of Hearts' have been awarded preferred bidder status. Not sure if they were the highest bidder but looking back to Portsmouth, when their trust was chosen it was because it was best for the long term future of the club, not because they were highest bidder (and from memory they weren't). Have we been mislead that the administrator has to pick the highest bidder? If there are other credible bids can he not choose them as the best for the long term future of the club/business? Surely money put in by the business owners and related companies (ie those with same directors) should be treated as investment and not debt? If I put a million pounds into my own business then don't pay my bills I surely cannot call this £1 million a loan just so I keep hold of the company?

dadgad · Aug 15, 2013

I have repeatedly made this point.
To what degree is it a responsibility of the administrator to choose somebody which is best for the future development of the business?
If so it is clear - in choosing Sisu -he didn't think this thru.
He was a stooge IMO but this doesn't preclude the necessity of choosing the best option for the health of the business.

Russian Gun Dogs · Aug 15, 2013

I think the way it was worded was that Otium offered the best deal for the main creditors (being themselves minus the false glasses, nose and moustache) so not actually the highest bidder. I think they were the highest bidder as well. What chance did anyone else have when SISU were playing with monopoly money!!

stupot07 · Aug 15, 2013

We have no idea what anyone else offered through the Admin process, either here or at Portsmouth or Hearts.

Portsmouth is a slightly different case as they had already been in admin and sold then quickly gone into admin again

Senior Vick from Alicante · Aug 15, 2013

I think you will find in the case of the other two clubs their owners were not as crafty at layering their accounting system. It is easier for the administrator to make those decisions in those instances, where as SISU have used insolvency law to their benefit however complicit you may or may not think Appleton has been.

Kenty · Aug 15, 2013

Well said all..

Kenty · Aug 15, 2013

Amazed! !!!

Also this is fact amazed that nothing has been done about it..Sisu did not hold the golden share when all this started back in 2007 the league/ FA never transferred it due to an administrative error on there part all this has been kept hush..I informed CWR of this and they have never asked Fisher the question. .the point is all involved the administrator..thr league and Sisu have acted eligal how can 10 points be deducted? if we never had the share in the first place its like the league deducting 10 points off Wolves..they hsve absolutely nothing to do with it! !!!!

shmmeee · Aug 15, 2013

Kenty said:
Also this is fact amazed that nothing has been done about it..Sisu did not hold the golden share when all this started back in 2007 the league/ FA never transferred it due to an administrative error on there part all this has been kept hush..I informed CWR of this and they have never asked Fisher the question. .the point is all involved the administrator..thr league and Sisu have acted eligal how can 10 points be deducted? if we never had the share in the first place its like the league deducting 10 points off Wolves..they hsve absolutely nothing to do with it! !!!!

Cool story bro.

ecky · Aug 15, 2013

Kenty said:
Also this is fact amazed that nothing has been done about it..Sisu did not hold the golden share when all this started back in 2007 the league/ FA never transferred it due to an administrative error on there part all this has been kept hush..I informed CWR of this and they have never asked Fisher the question. .the point is all involved the administrator..thr league and Sisu have acted eligal how can 10 points be deducted? if we never had the share in the first place its like the league deducting 10 points off Wolves..they hsve absolutely nothing to do with it! !!!!

Has Les Reid been made aware of this?

fernandopartridge · Aug 15, 2013

Kenty said:
Also this is fact amazed that nothing has been done about it..Sisu did not hold the golden share when all this started back in 2007 the league/ FA never transferred it due to an administrative error on there part all this has been kept hush..I informed CWR of this and they have never asked Fisher the question. .the point is all involved the administrator..thr league and Sisu have acted eligal how can 10 points be deducted? if we never had the share in the first place its like the league deducting 10 points off Wolves..they hsve absolutely nothing to do with it! !!!!

The GS was with Ccfc ltd prior to Sisu taking over, why would it need to be transferred?

longjohnskyblue · Aug 15, 2013

The hearts foundation got the preferred status as they were linked to the club for some time. Had the SBT put a bid in, then perhaps they might have been given similar status. Sadly, rather than concentrating on saving the club and trying to recruit investors to afford a credible bid (as the other trusts had done from day one and all due credit to them for that) they instead concentrated on trying to increase membership, wasting money on stupid mannequins expensive banners and talking to sisu's puppet on the radio,.

You have to ask serious questions of the trust as ultimately they have failed miserably in their entire reason for existing - saving the club as a last resort!

They want control of the club - fine no probs with that, but steadfastly refused ever to try and actually do anything about it! Had they gone out, tried to get investors onboard, maybe a link up with P4/ Hoff or a conglomerate of local businesses, then I am pretty sure the FL would have granted Ltd the golden share, and we could be playing at the RICOH right now!

Instead they have a couple of thousand members, zero influence, and a total lack of direction! This is not a tenable situation for a group claiming to represent the fans! Maybe when they look back on the number of missed opportunities (why did it take criticism for them to start doing anything at all?) They waited to campaign until about 6 weeks before the court case. Why didn't they start campaigning the moment they knew sisu threatened liquidation?

Ultimately the trust has failed everyone. Sure they had one big protest and well done for that, but sadly every single other effort has been an abject failure! Why now are they just starting to try and raise funds? They have been going for well over a year - why haven't they been recruiting businesses from day one? To say they have let everyone done is an understatement. They are reduced to half hearted efforts to promote the myth they are "doing something". Not going to matches and starving out sisu is "doing something" - and has far more chance of success than protesting at an empty building!

Instead they troll forums berating criticism without addressing the real issues or even abiding by their own code of conduct! Time for these clowns to call it a day!

Ripbuster · Aug 15, 2013

fernandopartridge said:
The GS was with Ccfc ltd prior to Sisu taking over, why would it need to be transferred?

Coz everything golden at CCFC gets transferred eventually?..

Broken Hearted Sky Blue · Aug 15, 2013

longjohnskyblue said:
The hearts foundation got the preferred status as they were linked to the club for some time. Had the SBT put a bid in, then perhaps they might have been given similar status. Sadly, rather than concentrating on saving the club and trying to recruit investors to afford a credible bid (as the other trusts had done from day one and all due credit to them for that) they instead concentrated on trying to increase membership, wasting money on stupid mannequins expensive banners and talking to sisu's puppet on the radio,.

You have to ask serious questions of the trust as ultimately they have failed miserably in their entire reason for existing - saving the club as a last resort!

They want control of the club - fine no probs with that, but steadfastly refused ever to try and actually do anything about it! Had they gone out, tried to get investors onboard, maybe a link up with P4/ Hoff or a conglomerate of local businesses, then I am pretty sure the FL would have granted Ltd the golden share, and we could be playing at the RICOH right now!

Instead they have a couple of thousand members, zero influence, and a total lack of direction! This is not a tenable situation for a group claiming to represent the fans! Maybe when they look back on the number of missed opportunities (why did it take criticism for them to start doing anything at all?) They waited to campaign until about 6 weeks before the court case. Why didn't they start campaigning the moment they knew sisu threatened liquidation?

Ultimately the trust has failed everyone. Sure they had one big protest and well done for that, but sadly every single other effort has been an abject failure! Why now are they just starting to try and raise funds? They have been going for well over a year - why haven't they been recruiting businesses from day one? To say they have let everyone done is an understatement. They are reduced to half hearted efforts to promote the myth they are "doing something". Not going to matches and starving out sisu is "doing something" - and has far more chance of success than protesting at an empty building!

Instead they troll forums berating criticism without addressing the real issues or even abiding by their own code of conduct! Time for these clowns to call it a day!

Come on you can do better than that I know you can

Kenty · Aug 15, 2013

That's the point I am trying to make but no one seems to be listening I had this information back at the end of last season from someone who works for sisu..back in 2007 when sisu took over they never officially received the golden share from the league/FA right up and through the administration the league had the golden share not sisu or any other part of the company this is the God's honest truth it was an admin error on the league/FA part..just think of all concerned if this had got out! Well it now has but as said NO ONE IS LISTENING!

lordsummerisle · Aug 15, 2013

Kenty said:
That's the point I am trying to make but no one seems to be listening I had this information back at the end of last season from someone who works for sisu..back in 2007 when sisu took over they never officially received the golden share from the league/FA right up and through the administration the league had the golden share not sisu or any other part of the company this is the God's honest truth it was an admin error on the league/FA part..just think of all concerned if this had got out! Well it now has but as said NO ONE IS LISTENING!

Robinson probably had it hanging over his mantelpiece.

mark82 · Aug 15, 2013

I don't really get how it works. If I own Company X and invest an initial £1 million then things start going bad so I chuck the rest of my money at it (I wish) to the point where I go into administration. My only real debt is a few thousand in missed rent for my business premises. In this case would I be the main creditor as I've invested a couple of million with nothing to show. Surely that can't be the case? Surely the administrator would tell me it's tough shit, you invested that money into your own business and the only real debt is the missed rent. Genuinely interested if any business could do this. Seems wrong to me.

Kenty · Aug 16, 2013

Told you first..and there is even more..phew took some time but finally someone has listened. ..

mark82 · Aug 16, 2013

Kenty said:
Told you first..and there is even more..phew took some time but finally someone has listened. ..

Huh?

dadgad · Aug 16, 2013

Kenty said:
Told you first..and there is even more..phew took some time but finally someone has listened. ..

THERE's "MORE" ?

What "more" could there be? You mean this Sisu bollox; "let us now pull together and help Pressley" is really a smokescreen to hide other shenanigans??

I am amazed, astounded.

I did think this reference to the JR appeal smacked of desperation.

georgehudson · Aug 17, 2013

kenty, you have a salient point,
which our judicial system must take note of !
PUSB

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