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RichardCheatham - City AFC

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7356 posts
First used 09/01/17

#46
21/12/2018 at 20:47

Show where you think it may cost the Allams £1m under administration?

Whoever appoints administrators is liable for initial fees, but it’s not anywhere near a mill, more like £30k. Further, directors can be liable for all debts if the company knowingly trades while insolvent, so they may have no option once the lifeline is withdrawn, around the 2nd Feb. It may not be them who pull the trigger, but it’s not awfully relevant.

We can be pretty sure the Allams will Bank the parachute money and transfer fees for Bowen and Grosicki. Likewise, we can be pretty sure they won’t fund ongoing loses for an institution they loathe.

Bunkers Hill - See you in the next life 

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Obadiah

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6475 posts
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#47
21/12/2018 at 21:57

Quote Quote by RichardCheatham - City AFC on 21/12/2018 at 20:47
Show where you think it may cost the Allams £1m under administration?

Whoever appoints administrators is liable for initial fees, but it’s not anywhere near a mill, more like £30k. Further, directors can be liable for all debts if the company knowingly trades while insolvent, so they may have no option once the lifeline is withdrawn, around the 2nd Feb. It may not be them who pull the trigger, but it’s not awfully relevant.

We can be pretty sure the Allams will Bank the parachute money and transfer fees for Bowen and Grosicki. Likewise, we can be pretty sure they won’t fund ongoing loses for an institution they loathe.



Have a look at the administrator's final accounts for Portsmouth. Who did you think pays for the time the administrator spends running the club whilst it is in administration? How long do you think it would take to find a buyer that's prepared to pay all the football debts and enough to satisfy the Allams? Especially with a ten point deduction? It took nearly a year for Portsmouth's place in the football league to be sold.

If the Allams bank the parachute money and the transfer fees HMRC will demand the administrator recovers all the monies the Allams took. The recovery of that money would help pay the administrator's fees and keep the club ticking over whilst a buyer is found. 

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NationalTiger

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First used 09/01/17

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Hull City

#48
21/12/2018 at 22:53

Obi, Gull says he doesn't know about administration, but does know about disqualification for Directors.

Just so everybody is clear.

Happy to help. 

Now then... 

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RichardCheatham - City AFC

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7356 posts
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#49
21/12/2018 at 22:54

Nonsense Obi.

Administrators pull fees from income, sale of assets or the entity itself. I’ve got no interest in Portsmouth save to say there were several spurious owners of that club, all with the idea of flipping It on. HMRC won’t have any interest unless they are owed money.

We will see all in good time, around 40 days from now. Until then, maybe we depart from boring the other CI chaps by typing the same things.

Bunkers Hill - See you in the next life 

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Obadiah

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6475 posts
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#50
22/12/2018 at 05:36

Quote Quote by RichardCheatham - City AFC on 21/12/2018 at 22:54
Nonsense Obi.

Administrators pull fees from income, sale of assets or the entity itself. I’ve got no interest in Portsmouth save to say there were several spurious owners of that club, all with the idea of flipping It on. HMRC won’t have any interest unless they are owed money.

We will see all in good time, around 40 days from now. Until then, maybe we depart from boring the other CI chaps by typing the same things.




A million pounds paid to the administrator from the income and assets of Hull City means a million pounds less paid to the Allams when the funds are distributed by the administrator. If there are no other creditors then it means the Allams will have paid an administrator one million pounds to simply run and sell the club.


In many ways they are pretty stupid, but they aren't that stupid.

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hullphil

937 posts
First used 09/01/17

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Hull City

#51
22/12/2018 at 08:38

So, is the Duffen deal duff then?  

Keep it, don't hoof it... 

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essexgull

8980 posts
First used 12/01/17

#52
22/12/2018 at 08:46

The issue is, Phil old bean, as the old British colonials knew only too well with Chinese and Arabic culture, the negotiations begin after you sign the contract.


ESSEX GULL  

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NationalTiger

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First used 09/01/17

Group
Hull City

#53
22/12/2018 at 08:58

Quote Quote by Obadiah on 22/12/2018 at 05:36



A million pounds paid to the administrator from the income and assets of Hull City means a million pounds less paid to the Allams when the funds are distributed by the administrator. If there are no other creditors then it means the Allams will have paid an administrator one million pounds to simply run and sell the club.


In many ways they are pretty stupid, but they aren't that stupid.


As a point of order, the club was meant to be run by third party ownership in May if a buyer could not be found.

That was last year like - another fucking blatant lie - so I wouldn't trust anything the Allams say or do. 

Now then... 

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Obadiah

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6475 posts
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#54
22/12/2018 at 11:01

Quote Quote by NationalTiger on 22/12/2018 at 08:58


As a point of order, the club was meant to be run by third party ownership in May if a buyer could not be found.

That was last year like - another fucking blatant lie - so I wouldn't trust anything the Allams say or do.



Fear and intimidation is how they operate. They did it throughout the name change campaign and they did it again at the supporters' meeting. "If you don't play nice we'll put the club into administration" was the veiled threat. Like all the other threats it had no substance.

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NationalTiger

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First used 09/01/17

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Hull City

#55
23/12/2018 at 14:32

One day, all this will just be a very bad dream I had... 

Now then... 

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RichardCheatham - City AFC

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7356 posts
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#56
23/12/2018 at 22:18

No Nash, it won’t. This might reverberate for some years to come.

I watched the goals from Satdee. 5 in total, one for every fan sat in the East stand. 10,800 my bottom. Despite Someone waving a magic wand with some points of late this ship is sinking.

As said, Bowen et al just increased their chances of an early Jan exit, which is bad news for the Tigers. Oh yes it is..... 

Bunkers Hill - See you in the next life 

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NationalTiger

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First used 09/01/17

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Hull City

#57
25/12/2018 at 08:36

OH YES IT IS!

Ahh... you've said that, too.

Marry Christmas everyone! 

Now then... 

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RichardCheatham - City AFC

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7356 posts
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#58
02/01/2019 at 23:03

anyone seen any camels near Bun-in-Oven? 

Bunkers Hill - See you in the next life 

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normantony

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831 posts
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Hull City

#59
03/01/2019 at 21:32

As theories go here’s mine
After Pappa gave up and handed the reigns to the clown prince and was told to get rid, my take is that at every deal that has nearly gone through has been single handedly scuppered by the idiot.
Could it be that he’s done this deliberately? (regardless of what he utters to the media) and could it be that he’s waiting for the old man to peg it and then take it on.
Without the ego and attention if he sold, the idiot would be what? Hardly be one to go and shakes hands with if seen in public, quite the opposite would occur, his life would be made hell locally.
I don’t think the club is for sale, and I think he is waiting to become full chairman as he clearly the notoriety and enjoys all that goes with it.
Just how I feel and with how all prior close to selling deals we’ve been fed.
I hope not, but my take.
What say you lot?

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potential

2280 posts
First used 09/01/17

#60
03/01/2019 at 22:13

Based solely on myth legend rumour and message board posts, my understanding is Papa has taken control of the sale. (sale, again, myth legend etc etc)

The football club chairman, desk in a generator factory dilemma facing the lad has one ideal solution for a playboy. Dad may think otherwise. Allam Marine appears to be self sufficient, both financially and without the day to day involvement of the founder. Not needed here junior.

I often wondered what second generation fuckwits did with daddy's hard earned. I could just be about to find out. 

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