777 Partners / Whatever the hell you like

[Exeter_Gently]

Yeah. Josh wander will be in the directors box holding a "premier league corrupt" sign.

Hahahhaha

 

[Kevsleftpeg]

So in effect, the directors get given notice whereby they have to show an achievable plan, to get the business back on track within a given timescale? Then, if they cannot do that it the timescale, administration is the outcome? Have I read that correctly?

No the directors would put the company into administration in order to prevent the company being made insolvent by its creditors if there is a creditable argument that administration will benefit the creditors of the company in the long term by providing a moratorium which allows the company to carry on trading. The only other option is insolvency which just involves a fire sale of all of the company’s assets.

 

[Lobworm]

No the directors would put the company into administration in order to prevent the company being made insolvent by its creditors if there is a creditable argument that administration will benefit the creditors of the company in the long term by providing a moratorium which allows the company to carry on trading. The only other option is insolvency which just involves a fire sale of all of the company’s assets.

Gotchya. Thanks for taking the time to explain.

 

[Moderatelywarmwater]

.

Yeah, this is why it’s not likely. Let’s hope that common sense prevails

 

[Moomin]

.

That is not true.

 

[Lob]

Lots and lots come out of pre-packed administrations. It a very common restructuring technique for a business that is fundamentally sound but overleveraged (not saying that it would work for Everton though).

Pre-Pack administration is a completely different thing. It is when the sale of the business is already agreed before entering administration and so yes a lot more safely come out of it because it is coordinated and the role of the administrator is predominantly about rescuing the company. There is nothing to say that Everton would be a pre-packaged administration considering the amount of debt we are in and having the thickest owner on the planet.

 

[Cjplennon]

Any points deductions for Administration now cannot be added on to this season.

And Moshiri will not walk away with nothing.

No one thinks 777 are saviours.

Who says it cant be added this season? PL rule book doest seem to say there is a cut off date for entering administration and when sanction will apply. The way i read it is go into administration and get an immediate sanction, appeal if you like.

How do you know what Moshiri will do? If he goes into Administation he wont have much choice.

At least 6 people on the current poll and 30 on the previous one.....

 

[MikeH72]

Will wait for Juan Mata and Axel Witsel to be running our midfield, while Unai Emery stands on the sidelines, before ever taking The Esk seriously

Also a time machine to be built and we go back and pass our second PSR charge like he said we had.

 

[Titus Bramble]

Also a time machine to be built and we go back and pass our second PSR charge like he said we had.

You never know… we might get the 4 points back on appeal after the IC come to the conclusion that someone hit the + on the calculator instead of the - by mistake

 

[Bluelenny1984]

Wow glad I came on here this afternoon creditors and prepack administration!! I'm off!!

 

[Exeter_Gently]

Anyone who's willing to let us start the season 9 points behind everyone else shouldn't be anywhere near the club.

 

[Jeff Jones]

Moshiri is still extremely rich. There’s a difference between not wanting to sink more money into the club and not being able to. He just doesn’t want to.

$2.7 billion I think.

 

[Mikey_Fitzgerald]

All I will say is that I'm fully convinced that 777 are a bunch of baddun's

Aside from that, I don't really have much else to add at this moment

Let's see if The Guardian prints that

 

[Walken]

How much of this administration chat have been driven by the esk? He must be absolutely delighted

 

[Rudolf Hucker]

Birse writes off £5.5m as Leicester City goes broke

Contractor gives up on final payment for £27.5m stadium after football club calls in administrators.

www.building.co.uk

So how did Leicester manage to go into administration and survive? No points deduction. Don’t remember any fire sale of players.