But it wouldn’t.... the only debts are to Allamhouse (the parent company), they would only lose more. Administration only works if you external debts to banks / other lenders. Maybe obi can add more insight here, not my area of expertise!!
It tastes better than it looks 'anarl - you gotta get to Belgium, they sell it everywhere; 6.6%ABV but gives no hangover after a sesh ....... a very slippery drink too!
If the club goes into administration it will be sold for £1 with the buyer guaranteeing payment of all outstanding football debts. This doesn't include the debt to Allamhouse which would have to be written off in full to allow the club to be sold. Most probably after the scheme has been approved by the creditors as HMRC would have an outstanding debt. The Allams would have to pay the administrator his fees as there are no available assets to meet them. The Allams can agree to sell the club for a pound and write off their debt and it will cost them nothing more than they've already put in. They also risk being disqualified from acting as company directors if it goes into administration.
Gollum has been on Sportstalk again. He's convinced the deal is now done, the only hold up apparently is who the board of directors is going to be. If it turns out that Ehab wants to remain somehow, then it really is a pointless ****show. The new owners couldn't possibly be that stupid, could they?
Great beers in Belgium. Not chemical laden, CO2 injected stuff like here. Strong beers but you never see anyone rolling about drunk. Remember going there with my parents in 1963 when I was 13. Was shaving and looked a bit older than I was. When my dad got a beer they kept asking if I wanted the same. Eventually my dad said I was only 13. The barman surprised my dad by explaining that he thought I was 14 and 14 year olds could have a beer with their parents or a Guardian. 16 year olds could go in bars on their own and have beer and wine. At 18 they could have spirits. Still the same I believe. One think I have noticed on subsequent visits there is that although people knock quite a few back the minute they look a bit worse for wear they don't get served. Most bars are independent and the owners aren't going to risk losing their licences. The authorities are a lot stricter about those things than here.
If he is on any future board of directors then the club is well and truly ****ed, because that despicable little ****wit is clearly the main reason that attendances are thousands less than they should be.
It is an eventually that must be considered, no matter how grim. I can see this being the sticking point. There'll be a lot more people on here with better knowledge of how shareholders work, but is there anyway he could become some sort of shareholder and have zero influence and just rake in a bit of profit as a side gig?
A large part of me can't see it happening. However, he's such a rarseclart, it's exactly the type of thing he would do.
If he stays as one Director it's not quite the same thing is it if the Board is a dozen people? He'd just be one vote in 12 not one in two as he currently is.
Personally I don’t care what type of involvement he may or may not have, or what influence, but what I do know is that I’ll never step foot back in the KCOM until he has well and truly gone, with absolutely no trace of the **** being left behind.
I agree completely, I'm just trying to think of all eventualities. He's made noises to the tune of not wanting to stay, the new owners wouldn't want him anywhere near the club if they have sense and we don't want him. The holy trinity of why he should **** off. But it's for those same reasons why he might stick around.
So speaking hypothetically could this work? I start a company with say 50 grand founding capital, the company works for a few years some in profit some in loss and it has some stock and some workers. Now due to a downturn in business the company is soon going to be losing lets say 2 grand a week but there is 25 grand in the bank. Could I take that 25K and close the company (put it into receivership or administration)
Where as Carpet Burns ©® appeared to be of the opposite position, though to be fair , like the rest of us they probably know ❗〰...
Ok to keep it simple the only debt is to me for my founding capital, and the company assets are worth say 10 grand.
