777 Partners / Whatever the hell you like

[pfim]

Sources said 777 Partners’ stake of about 24 per cent in Flair was written down to close to zero and it had given up board seats accordingly. The identity of Flair’s senior funder and the affiliate are not clear.

Bonza’s sister airline cuts 777 Partners, restructures debt

Flair Airlines finds new backers as Bonza edges closer to the brink.

www.afr.com

ACap collecting again.

 

[jazzy]

If 777 no longer wish to be associated with Flair they've picked the right Premier League team to buy.

Very good. Chapeau

 

[MACCA75]

Bonza and Flair airlines were surely made up by teams doing a task on The Apprentice. I’m not having them as actual companies.

 

[nevsonlymate]

It's the richest league in the world. A club filing for Administration would be a disaster for the league.

Apologies if its already been asked but administration causes issues with payments to suppliers etc how or will it affect money already paid in for season tickets ?

 

[Osamabindiesel]

At this rate we might need to beat Luton. 777 are having trouble finding change under the couch.

 

[Sussex]

Apologies if its already been asked but administration causes issues with payments to suppliers etc how or will it affect money already paid in for season tickets ?

You can probably kiss that little wedge goodbye.

I believe you become a creditor but you would be way down the list of people to be paid back. And once they get to the likes of the season ticket holders I don't think there would be much money, if any, in the pot to pay you back.

 

[Martin Alvito]

At this rate we might need to beat Luton. 777 are having trouble finding change under the couch.

It's what happens when you're highly leveraged and hit the sort of cash crunch regulators forced A-Cap to put them in. Everyone knows you have to raise funds, so they all lowball you on asset sales because you have to take what you can get.

You can probably kiss that little wedge goodbye.

I believe you become a creditor but you would be way down the list of people to be paid back. And once they get to the likes of the season ticket holders I don't there either be very little money, if any, in the pot to pay you back.

Correct, you're an unsecured creditor who is junior to all the big fish in the pond other than 777's more recent loans. Expect to get wiped out in administration.

 

[nevsonlymate]

You can probably kiss that little wedge goodbye.

I believe you become a creditor but you would be way down the list of people to be paid back. And once they get to the likes of the season ticket holders I don't think there would be much money, if any, in the pot to pay you back.

So they then will be expecting us to pay again that's going to be interesting

 

[TyphooToffee]

Looks like 777 are so desperate to get the new toy they covet they are dumping the ones they don't want to play with any more and using whatever they can get for it to go towards it. I do the same with whatever my new passion is. So far this year it's been art supplies, darts, trainers, camera tripod and now a new mobile.

 

[msb]

Apologies if its already been asked but administration causes issues with payments to suppliers etc how or will it affect money already paid in for season tickets ?

Probably safe if you paid by credit card.

 

[Tony’s Carp]

You can probably kiss that little wedge goodbye.

I believe you become a creditor but you would be way down the list of people to be paid back. And once they get to the likes of the season ticket holders I don't think there would be much money, if any, in the pot to pay you back.

But the club will still be trading (and playing football matches) in administration, it's not liquidation.

If you have a contract with the club to provide a service (admission to games) and they are able to provide that service (the games are being played) I don't see how an administrator could breach that contract, but maybe I'm missing something.

In liquidation you're screwed, but that's a million miles away from being a conversation.

 

[Frenk]

Looks like 777 are so desperate to get the new toy they covet they are dumping the ones they don't want to play with any more and using whatever they can get for it to go towards it. I do the same with whatever my new passion is. So far this year it's been art supplies, darts, trainers, camera tripod and now a new mobile.

How much are you selling your artwork for?

 

[badloaf]

Looks like 777 are so desperate to get the new toy they covet they are dumping the ones they don't want to play with any more and using whatever they can get for it to go towards it. I do the same with whatever my new passion is. So far this year it's been art supplies, darts, trainers, camera tripod and now a new mobile.

Airfix models, lad, that’s what you want. Loads of plastic that drives you out of your mind so you end up sniffing the glue to get you through. Oh…no, that’s sitting in their end at the derby, isn’t it?

Try Lego. Loads of little plastic people…oh, hang on a mo…

 

[Martin Alvito]

So they then will be expecting us to pay again that's going to be interesting

But the club will still be trading (and playing football matches) in administration, it's not liquidation.

If you have a contract with the club to provide a service (admission to games) and they are able to provide that service (the games are being played) I don't see how an administrator could breach that contract, but maybe I'm missing something.

In liquidation you're screwed, but that's a million miles away from being a conversation.

If the club plays games, it can't double dip on ticket sales in administration. It will have to honor the tickets already sold.

If the club does not play games, you're SOL. You're almost guaranteed to get zero dollars back whether the cause is another pandemic, a meteor leveling Goodison or liquidation.

 

[AsiaAsia82]

As I’ve paid for my season ticket now and therefore I am now a potential creditor, this needs sorting asap