| tomorrow can't come quick enough 14:17 - Oct 16 with 2263525 views | batman |
Not for us, but for Bury.
i was credit checking a potential customer and decided to nosey onto
BFC's file and was (or maybe not) supprised to see a new CCJ for circa £22k lodged
only Wednesday this week.
looks like they are in need of a bumper crowd tomorrow to settle some bills |  | | |  |
| tomorrow can't come quick enough on 15:56 - Jun 18 with 5551 views | James1980 |
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| tomorrow can't come quick enough on 16:16 - Jun 18 with 5493 views | aleanddale |
| tomorrow can't come quick enough on 15:56 - Jun 18 by James1980 |
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so much to ponder.....
Firstly James Frith could have played right into SD2 hands here.
An adjournment is exactly what SD2 would have wanted.
Admin pushed back further when what they needed was admin a few months ago.
Interested Parties wanting NDA's I hope whoever is successful have £10 million to throw away immediately and deep pockets for a club losing £2 500 000 minimum per annum.
So Somebody with the club at heart £15 000 000 or so to burn and no ulterior motive just a new found passion for a low league club?.
The plot thickens!
Its some ride I will give bury that much!! | | | |
| tomorrow can't come quick enough on 16:28 - Jun 18 with 5442 views | Sandyman |
How many feckin adjournments do they want? This is the same cock and bull administration dodging B S they gave the judge last time which has resulted in nothing apart from NDA's nobody can see. Don't fall for it M'Lud. |  | | |
| tomorrow can't come quick enough on 17:08 - Jun 18 with 5346 views | judd |
| tomorrow can't come quick enough on 16:28 - Jun 18 by Sandyman |
How many feckin adjournments do they want? This is the same cock and bull administration dodging B S they gave the judge last time which has resulted in nothing apart from NDA's nobody can see. Don't fall for it M'Lud. |
If, as RAFCBlue has previously posted, all it takes is summat in writing to the Judge about interested buyers who do not have to prove their ability, then I think we will see a further adjournment.
How strongly the HMRC barrister can argue the case for winding up could be key. |  |
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| tomorrow can't come quick enough on 17:20 - Jun 18 with 5284 views | JumeirahDale |
More stays than bloody Expedia! The sideshow continues.
Speaking as an M&A professional, generally an NDA means fook all. If they had someone under a Letter of Intent, that's a different matter - all an NDA means is that someone has asked to take a look at the records of the business (which we know to be about as reliable as Kenny Senior). It is nothing more than stage zero of a sale process - I'd go as far as saying to have only got two NDAs in hand when Dale announced the club was for sale in April pretty much resembles zero progress. They'll get an adjournment though no doubt! |  | | |
| tomorrow can't come quick enough on 18:30 - Jun 18 with 5094 views | aleanddale |
Sorry mum it wasn't my fault!!!
what a tit Day was / is!
He shafted thousands and now acting like a cry baby. | | | |
| tomorrow can't come quick enough on 18:41 - Jun 18 with 5062 views | KenBoon |
If we ever found ourselves up slack alley, I wonder if our MP would go into batting for the club?
Another adjournment tomorrow, famous old club with three decades of financial nonsense must be protected. A good article by Conn. Milky bar kid blames everything other than his own idiocy for his massive failure. Brexit is the old dependable but going as low to include the Grenfell tower fallout as an excuse - I read it as he’d now be forced to fix any dangerous shortcuts in building. He’s a piece of shit. |  | | |
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| tomorrow can't come quick enough on 18:58 - Jun 18 with 5015 views | aleanddale |
| tomorrow can't come quick enough on 18:41 - Jun 18 by KenBoon |
If we ever found ourselves up slack alley, I wonder if our MP would go into batting for the club?
Another adjournment tomorrow, famous old club with three decades of financial nonsense must be protected. A good article by Conn. Milky bar kid blames everything other than his own idiocy for his massive failure. Brexit is the old dependable but going as low to include the Grenfell tower fallout as an excuse - I read it as he’d now be forced to fix any dangerous shortcuts in building. He’s a piece of shit. |
an absolute piece of shit....
I would love to bump into him and give him some home truths that have been lacking from all at giggle over 5+ years. | | | |
| tomorrow can't come quick enough on 19:02 - Jun 18 with 5007 views | aleanddale |
Day’s main Mederco company loaned £4.2m to Bury — to fund ongoing losses, he said — and investors, who have not seen rent they were promised, have called for it to be repaid. Mederco creditors also include people who bought car park spaces at Gigg Lane for £9,995 each, which were sold by Day and his co-director at Bury, Glenn Thomas, as “a strong investment proposition”, promising 9% net yield from annual rents for 24 years. Day said their idea was to develop facilities and host events, or build a new stadium, but the reality never rose to tally with their ambition.
£3 000 000 here!!!
Three Million.
The more you read about Day ( and Thomas ) the worse it looks.
Good luck to the administrator ( if it happens ) FFS this will take some unravelling!!. | | | |
| tomorrow can't come quick enough on 19:26 - Jun 18 with 4919 views | SuddenLad |
You'd hope that the Judge has read this Guardian article by David Conn, before tomorows' hearing. It's time this pi$$-taking joke outfit was brought to a thuddering end once and for all. Two decades of financial chicanery with virtually no sanctions. An insult to those who play fair.
Begone, you cheating bar stewards. Your time is surely up. |  |
| “It is easier to fool people, than to convince them that they have been fooled†|
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| tomorrow can't come quick enough on 19:39 - Jun 18 with 4871 views | ColDale |
The letter from the MP is an admission that despite claims to the contrary, they have failed in their attempts to convince the company to put the Football Club into administration. Not sure how the MP can actually write to the judge, he's hardly representing the prosecution or the defence, just a 3rd party with a vested interest. A further adjournment must make it impossible to convince the EFL that they are able to fulfil their fixtures next season. The EFL will give them every chance but they will be going out on a limb if they include them in the fixture lists released on Thursday morning. |  | | |
| tomorrow can't come quick enough on 19:46 - Jun 18 with 4845 views | JumeirahDale |
"The Guardian understands that in the contracts, Capital and Bury agreed that 40% of the money being borrowed would never come to the club. Instead, Capital paid it to an unnamed third party, as an “introduction fee”."
Whilst the farcical interest rates were signposted on this thread from the get-go, I don't think even us lot foretold such a web of deceit. 40%!!!!! | | | |
| tomorrow can't come quick enough on 21:44 - Jun 18 with 4586 views | smaclad1 |
Dsve Gaffard at it again.
"Hopefully we can squeeze another few weeks out of it."
"we are trying to get the judge to extend a little longer to give us more time"
"If there is the option of administration then we will take it"
https://www.burytimes.co.uk/news/17714169.bury-fc-supporters-pleading-for-extra-
Just put the bloody thing out of its misery. It's the humane thing to do. | | | |
| tomorrow can't come quick enough on 21:57 - Jun 18 with 4530 views | judd |
| tomorrow can't come quick enough on 21:44 - Jun 18 by smaclad1 |
Dsve Gaffard at it again.
"Hopefully we can squeeze another few weeks out of it."
"we are trying to get the judge to extend a little longer to give us more time"
"If there is the option of administration then we will take it"
https://www.burytimes.co.uk/news/17714169.bury-fc-supporters-pleading-for-extra-
Just put the bloody thing out of its misery. It's the humane thing to do. |
Its almost easy to forget that this is the 3rd time in 3 months that they have been in the High Court with no resolution in sight.
At what stage does the Judge have to decide in favour of the petitioners? The current petition is on behalf of HMRC, in light of the non-payment of taxes into the public purse. | |
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| tomorrow can't come quick enough on 22:04 - Jun 18 with 4503 views | D_Alien |
| tomorrow can't come quick enough on 21:57 - Jun 18 by judd |
Its almost easy to forget that this is the 3rd time in 3 months that they have been in the High Court with no resolution in sight.
At what stage does the Judge have to decide in favour of the petitioners? The current petition is on behalf of HMRC, in light of the non-payment of taxes into the public purse. |
Plus, of course, the cost to the taxpayer of the repeated court proceedings
Those bury tw@ts are robbing us all, just by continuing to exist |  |
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| tomorrow can't come quick enough on 22:20 - Jun 18 with 4424 views | smaclad1 |
| tomorrow can't come quick enough on 21:57 - Jun 18 by judd |
Its almost easy to forget that this is the 3rd time in 3 months that they have been in the High Court with no resolution in sight.
At what stage does the Judge have to decide in favour of the petitioners? The current petition is on behalf of HMRC, in light of the non-payment of taxes into the public purse. |
It is too easy to forget - it's become the default position, it's routine and would be more of a shock if they weren't hauled up before the beak. Again.
That MPs letter - two interested parties signed up with a NDA - one of them is fornever bury, that's why Gaffard can't tell anyone anything. The other one'll be that bloke who's raised tuppence ha'penny on that fundraiser. It's all a joke, all made up and clutching at non-existent straws.
The only things they've got left is that famous old club mantra and the FA Cup. Surely another judge won't fall for that one? | | | |
| tomorrow can't come quick enough on 22:21 - Jun 18 with 4422 views | kel |
Mong board is superb reading tonight. It’s a shame that the post by one of their thick as fook neanderthals suggesting Dale will be killed if he liquidates them has been deleted though as it shows the mentality of some of their fans*
*Even though you need to crack the enigma code to be able to read their board. |  | | |
| tomorrow can't come quick enough on 22:28 - Jun 18 with 4373 views | judd |
| tomorrow can't come quick enough on 22:20 - Jun 18 by smaclad1 |
It is too easy to forget - it's become the default position, it's routine and would be more of a shock if they weren't hauled up before the beak. Again.
That MPs letter - two interested parties signed up with a NDA - one of them is fornever bury, that's why Gaffard can't tell anyone anything. The other one'll be that bloke who's raised tuppence ha'penny on that fundraiser. It's all a joke, all made up and clutching at non-existent straws.
The only things they've got left is that famous old club mantra and the FA Cup. Surely another judge won't fall for that one? |
Well my work colleague and bury fan won another £28 at bingo on Sunday and has sold 2 CDs from his vast collection.
He can clearly fund the club as it has been funded of late and has written to the Judge advising of his interest in acquiring the shakers, triangular corner flags and joined up corners.
But he didn't put a stamp on the envelope. | |
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| tomorrow can't come quick enough on 22:44 - Jun 18 with 4314 views | RAFCBLUE |
| tomorrow can't come quick enough on 21:57 - Jun 18 by judd |
Its almost easy to forget that this is the 3rd time in 3 months that they have been in the High Court with no resolution in sight.
At what stage does the Judge have to decide in favour of the petitioners? The current petition is on behalf of HMRC, in light of the non-payment of taxes into the public purse. |
In answer to your earlier question about having a possible buyer, judd, effectively it is Steve Dale who would have to demonstrate that or if they were prepared to come forward the potential buyer themselves.
Anyone else can petition but effectively James Frith MP is saying there are two "live considerations" and not "tabled offers"
Where are we up to tomorrow?
The petitioning creditor (HMRC) has exhausted the pre-winding up procedures so this is a real issue.
At the last hearing, the judge suspended the winding up petition process temporarily in order to obtain funds to settle or properly dispute the debt.
Those funds may arrive. HMRC get paid and bury move onto the next crisis.
If those funds don't arrive then the Court has a discretion as to how to deal with the petition in one of four ways;
1) the Court may dismiss it - no case to answer for bury fc. HMRC lose.
2) adjourn the hearing conditionally - case to answer, come back in the future and see if you make the condition. I believe this is where bury currently are.
3) adjourn the hearing unconditionally - case to answer but come back in the future.
4) make an interim (payment) order. bury fc lose and have to pay money; HMRC win.
If the debt is proven and there is no reasonable prospect of paying the full amount on the date of the hearing then the court may be persuaded (by cogent evidence) to adjourn the hearing if the company is likely to go into an insolvency process such as an administration or a company voluntary arrangement (CVA).
The latter allows the company to write off a proportion of its debts.
In the case of a CVA the company may be able to pay off a proportion of its unsecured debts, such as HMRC debts and trade creditors, over a period of 3-5 years. In practice this will be proposed by a firm of turnaround experts.
Now here's the funny piece. Tomorrow Dale could theoretically:
a) pay HMRC something, say £50k,
b) claim insolvency for the rest
c) enter a CVA
d) wipe off all the unsecured debt paying HMRC over a longer period.
e) hit the secured debt of £1.6m with Capital by selling the ground (in the bury accounts for £8m) to someone, say a property developer.
f) Capital get their £1.6m back, HMRC get paid and Dale walks off with the balance of the property proceeds.
a) to f) are controversial and I would think would be heavily opposed.
That would leave the judge thinking if he could do better by the official receiver being appointed.
Dale would get less under that but still a good return.
In either case he is the shareholder so controls the sale of the club to a future party.
FWIW, I think the the MP James Frith is p*ssing in the wind now and Forever bury (Dave Giffard) in particular have been shown up as completely ineffectual. All ok with FB doubling their membership but that statement in the bury times tonight could just have said "We are done!"
It's not the debts that are bury's problem but the sheer size and scale of them and an unfriendly corporate environment where passing across a few pence in the £ does not wash with HMRC.
HMRC know that bury have received money for Ryan Lowe since the last hearing - that will be a key piece of understanding what that money has been used for.
The fact they are on third tomorrow on the hearing list tells you all you need to know. We will all know the answer by lunchtime.
It's looking pretty bleak for bury. |  |
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| tomorrow can't come quick enough on 10:24 - Jun 19 with 3735 views | downunder |
Going back to the OP title. Tomorrow never comes but Today does. In fact Today is almost over for us Antipodeans. So I look forward to Tomorrow when I will read about Today, and find out if the bu&&er$ have no Tomorrow at all.
It's just another Day. |  | | |
| tomorrow can't come quick enough on 10:39 - Jun 19 with 3660 views | ColDale |
Adjourned for six weeks | | | |
| tomorrow can't come quick enough on 10:40 - Jun 19 with 3655 views | Knowlesy |
| tomorrow can't come quick enough on 10:39 - Jun 19 by ColDale |
Adjourned for six weeks |
What a farce. |  | | |
| tomorrow can't come quick enough on 10:41 - Jun 19 with 3637 views | Sandyman |
| tomorrow can't come quick enough on 10:39 - Jun 19 by ColDale |
Adjourned for six weeks |
Ridiculous. Waste of taxpayers money . | | | |
| tomorrow can't come quick enough on 10:42 - Jun 19 with 3619 views | nordenblue |
| tomorrow can't come quick enough on 10:41 - Jun 19 by Sandyman |
Ridiculous. Waste of taxpayers money . |
That's the one let's really teach these clubs for cheating,yet another cop out only prolonging the inevitable | | | |
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