
Hxj
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Footage of Oli McBurnie stamping on a Forest supporter
Hxj replied to Wiltshire robin's topic in Football Chat
I'll wait to see what actually happened beforehand before commenting - selective clips are unhelpful.- 68 replies
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I suspect so, all the EFL are interested in is that DCFC have security of tenure and it is clear that Kirchner is not taking ownership of the stadium, so from the EFL's perspective a lease is fine. It is also clear that Kirchner wants Morris out, so I suspect that Kirchner will only complete if the stadium is sold by Morris, so he has put that condition in his contract, hence the Quantuma comment. Provided all football creditors are paid, which they probably now have or will be from central distributions, the EFL don't care what the outcome regarding creditors is. They will apply the rules to the outcome. The membership agreement will outline what needs to happen to avoid any futher points deduction. There is also a subtle difference on timing. Quantuma say 'targeted for on or before 31 May', the EFL state 'Final approval is subject to [completion of the Purchase Agreement and] a lease ... by 31 May.'
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It will be dealt with through a CVA. No need for a 'cross class cram down' if agreed. I can't imagine that Kirchner would sign a conditional purchase contract without the parameters of the CVA agreed by the necessary parties. The next big event will be the 'retained list' I think the deadline for that is Saturday, will be a big pointer to how the business plan looks.
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The difference isn't indicative of anything other than the directors not using the latest number, bear in mind that the August PAYE/NIC deductions are not due until 22 September, plus the September PAYE/NIC deductions for the period to the date of Administration, plus different parts of HMRC might be working different debts and then would be interest and penalties to consider.
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There is a moratorium in that a creditor cannot sue for a debt where the company is in a formal insolvency process. However the role as an Administrator is to act as an Officer of the Court in maximising the return the creditors existing at the date of the insolvency, racking up other debts is hard to reconcile with that role.
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Anything but. If Administrators are running a business they have to pay all the bills as they become due, or potentially have a personal liability. The modern definition of insolvency, in the sense of 'are you committing an offence by continuing to trade' is 'not being able to pay the bills as they become due.'