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Administration?

  • Thread starter Thread starter S3RGIO33
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Mr David said:
What have you heard?
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1. There's a mysterious staff meeting in the diary for this week which has people already upset, resigned and fearful;
2. Staff are claiming privately that administration is going to be announced this week.

Number 2 may be speculation based on Number 1 of course.
 
Gray probably knows fuck all other than rumours others are hearing, but I have to be honest, I wouldn't trust anything that comes out of the upper echelons of this club, all of which will be filtered down from the Yank tosser.

I am still, unless someone can point out otherwise, yet to see a firm quoted denial of administration from the club either. Only sound bites fed out into the media.
 
Arcane Jesh said:
1. There's a mysterious staff meeting in the diary for this week which has people already upset, resigned and fearful;
2. Staff are claiming privately that administration is going to be announced this week.

Number 2 may be speculation based on Number 1 of course.
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I suspect a large number of redundancies rather than administration. As I posted earlier, by Xmas I fully expect our staffing levels to be Roker Park levels.
 
Arcane Jesh said:
I've seen a message from a verified club employee.
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No you haven't.

Hank Scorpio said:
The problem is mate, the rumours about administration are bullshit. Social media has allowed them to grow and the club's media reaction has been poor.

That said, I fully expect another round of redundancies for the poor sods who work for the club in the next few weeks. By Xmas, I expect our staffing to be around Roker Park levels.
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This.
 
samaistonsrightfoot said:
Half the debt is a secured loan to SBC iirc. If they demand repayment in full, or we fall behind on payments to them then I don't think Ellis has a choice
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He absolutely does have a choice. He's a billionaire and he could just pay them or secure the loan.

If they do call in the debt and Short does not secure it then he stands to lose the most as the owner of the club. Doesn't make any sense for him to allow that to happen.
 
Arcane Jesh said:
1. There's a mysterious staff meeting in the diary for this week which has people already upset, resigned and fearful;
2. Staff are claiming privately that administration is going to be announced this week.

Number 2 may be speculation based on Number 1 of course.
Click to expand...
Interesting week ahead then.
 
Ashley In!! said:
If he's loaned the club the money he can take it back without going to prison I think.
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Well, yes, but going into administration would wipe that opportunity out for him.

I was responding to the suggestion that he's just going to pocket the cash from deals (ie. not just taking the loan back)

People seem to forget that in 15/16 he actually put more of his own money in
 
Don't know anything about administration but sensible answer's please, why would Short take us into administration if he could of sold us a few months ago.
 
Arcane Jesh said:
Yes. But.

He stands to lose £100m now? In another year the club could be almost worthless.

Would you not bail out and take £20m from the administrator?

* figures are made up for illustration purposes only.
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Did you not read anything I've ever written? In administration Short gets zilch, nada, zero. SBC won't get all their money. It's not in the interests of anyone who cold appoint an administrator. Legally, Short can't even do ti without the agreement of SBC.

Arcane Jesh said:
1. There's a mysterious staff meeting in the diary for this week which has people already upset, resigned and fearful;
2. Staff are claiming privately that administration is going to be announced this week.

Number 2 may be speculation based on Number 1 of course.
Click to expand...

It will be an announcement of a round of redundancies. Staff are making 2+2=5

Ashley In!! said:
If he's loaned the club the money he can take it back without going to prison I think.
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Actually, he can't if it leaves the club insolvent. By paying himself rather than other creditors he would be committing the offence of fraudulent preference.
 
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tynevalleyblackcat said:
He absolutely does have a choice. He's a billionaire and he could just pay them or secure the loan.

If they do call in the debt and Short does not secure it then he stands to lose the most as the owner of the club. Doesn't make any sense for him to allow that to happen.
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Probably on paper mate. Readies is a different kettle of fish.

Grumpy Old Man said:
Did you not read anything I've ever written? In administration Short gets zilch, nada, zero. SBC won't get all their money. It's not in the interests of anyone who cold appoint an administrator. Legally, Short can't even do ti without the agreement of SBC.



It will be an announcement of a round of redundancies. Staff are making 2+2=5



Actually, he can't if it leaves the club insolvent. By paying himself rather than other creditors he would be committing the offence of fraudulent preference.
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Few spelling mistakes there. Been on the red:)
 
BumbleBee said:
Probably on paper mate. Readies is a different kettle of fish.



Few spelling mistakes there. Been on the red:)
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My typing is bad at the best of times. I've been singing in a concert (rehearsal all afternoon, performance in the evening); couple of beers afterwards, but more because I'm knackered. Also, a bit narked that people who I've told things directly are totally ignoring what I've said.
 
Grumpy Old Man said:
Actually, he can't if it leaves the club insolvent. By paying himself rather than other creditors he would be committing the offence of fraudulent preference.
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Would fraudulent preference not only happen if we then went into administration though? Surely if it's just carrying on he'd be OK taking his loans back so long as we don't default on anyone else?
 
Ashley In!! said:
Would fraudulent preference not only happen if we then went into administration though? Surely if it's just carrying on he'd be OK taking his loans back so long as we don't default on anyone else?
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That's what he means about leaving the club insolvent - not being able to pay back other debts.
 
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