| tomorrow can't come quick enough 14:17 - Oct 16 with 2302621 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 19:47 - Jun 5 with 5957 views | MoonyDale |
| tomorrow can't come quick enough on 19:15 - Jun 5 by 1907 |
That is the cringiest thing I’ve ever seen.
No mention of Stuart Day? It’s only Dale that’s the big bad wolf that’s brought on this misery!
No acceptance of any wrong doing?
No acceptance of cheating all the teams they have shafted over the past 5 golden years?
Let them rot. It’s all they deserve. Scum club. |
Capital Bridging are ready to go for admin and take over, just waiting for the go ahead from FB.......From tonight's meeting. [Post edited 5 Jun 2019 19:48]
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| tomorrow can't come quick enough on 20:01 - Jun 5 with 5890 views | 1907 |
| tomorrow can't come quick enough on 19:47 - Jun 5 by MoonyDale |
Capital Bridging are ready to go for admin and take over, just waiting for the go ahead from FB.......From tonight's meeting. [Post edited 5 Jun 2019 19:48]
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Who are Capital Bridging? | | | |
| tomorrow can't come quick enough on 20:04 - Jun 5 with 5863 views | kel |
| tomorrow can't come quick enough on 19:47 - Jun 5 by MoonyDale |
Capital Bridging are ready to go for admin and take over, just waiting for the go ahead from FB.......From tonight's meeting. [Post edited 5 Jun 2019 19:48]
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It’s almost as if they’re proud of it. Shameful reading. |  | | |
| tomorrow can't come quick enough on 20:18 - Jun 5 with 5779 views | MoonyDale |
| tomorrow can't come quick enough on 20:01 - Jun 5 by 1907 |
Who are Capital Bridging? |
They are the group that the loan secured against the ground is with.... | |
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| tomorrow can't come quick enough on 20:19 - Jun 5 with 5778 views | KenBoon |
| tomorrow can't come quick enough on 20:01 - Jun 5 by 1907 |
Who are Capital Bridging? |
More loans I guess. |  | | |
| tomorrow can't come quick enough on 20:37 - Jun 5 with 5685 views | SuddenLad |
SD2 has actually FAILED the EFL 'fit and proper' test, but dithering made sure that he bought the club before the sale could be stopped......
(from tonights' meeting) |  |
| “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 20:38 - Jun 5 with 5682 views | James1980 |
about 10 years too late that comment | |
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| tomorrow can't come quick enough on 21:00 - Jun 5 with 5578 views | KenBoon |
| tomorrow can't come quick enough on 20:37 - Jun 5 by SuddenLad |
SD2 has actually FAILED the EFL 'fit and proper' test, but dithering made sure that he bought the club before the sale could be stopped......
(from tonights' meeting) |
big if true.
the efl want an absolute roasting if it is true, but tbh SD2 is a shit pebbledash job on the house of crap that SD1 built. | | | |
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| tomorrow can't come quick enough on 21:02 - Jun 5 with 5571 views | 49thseason |
| tomorrow can't come quick enough on 20:01 - Jun 5 by 1907 |
Who are Capital Bridging? |
They are the company that loaned the club £1.6M and have a charge over the stadium, they run out of an office in Crosby Merseyside with 2 Directors
30 Oct 2017 31 Oct 2017 Capital Bridging Finance Solutions Limited; OUTSTANDING charge on the stadium
15 Nov 2018 21 Nov 2018 David Heywood;(T/A Express Loan corporation (Monaco) OUTSTANDING
Charge the Lounge and sports bar
12 Mar 2019 12 Mar 2019 Broadoak Private Finance Limited; OUTSTANDING
Charge on Football League income |  | | |
| tomorrow can't come quick enough on 21:09 - Jun 5 with 5522 views | judd |
| tomorrow can't come quick enough on 21:02 - Jun 5 by 49thseason |
They are the company that loaned the club £1.6M and have a charge over the stadium, they run out of an office in Crosby Merseyside with 2 Directors
30 Oct 2017 31 Oct 2017 Capital Bridging Finance Solutions Limited; OUTSTANDING charge on the stadium
15 Nov 2018 21 Nov 2018 David Heywood;(T/A Express Loan corporation (Monaco) OUTSTANDING
Charge the Lounge and sports bar
12 Mar 2019 12 Mar 2019 Broadoak Private Finance Limited; OUTSTANDING
Charge on Football League income |
3 charges, the last one against future football income whilst under Grizzly Hadems ownership? |  |
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| tomorrow can't come quick enough on 21:13 - Jun 5 with 5488 views | Cleedale |
| tomorrow can't come quick enough on 21:02 - Jun 5 by 49thseason |
They are the company that loaned the club £1.6M and have a charge over the stadium, they run out of an office in Crosby Merseyside with 2 Directors
30 Oct 2017 31 Oct 2017 Capital Bridging Finance Solutions Limited; OUTSTANDING charge on the stadium
15 Nov 2018 21 Nov 2018 David Heywood;(T/A Express Loan corporation (Monaco) OUTSTANDING
Charge the Lounge and sports bar
12 Mar 2019 12 Mar 2019 Broadoak Private Finance Limited; OUTSTANDING
Charge on Football League income |
So, 49th, does that mean (assuming that this all goes to plan from a supporters point of view) that the said company will then claw back as much of the debt as possible; read something like 35%? initially and that further points deductions would be enforced if not adhered to.
All seems unresolved and uncertain atm. as surely with entering admin. there will be other financial restrictions. Isn't there already a freeze on Bury's accounts or does admin unlock these?
Talk of compo. for Lowe to PA of £150K - where does that go? | | | |
| tomorrow can't come quick enough on 21:26 - Jun 5 with 5390 views | judd |
| tomorrow can't come quick enough on 21:13 - Jun 5 by Cleedale |
So, 49th, does that mean (assuming that this all goes to plan from a supporters point of view) that the said company will then claw back as much of the debt as possible; read something like 35%? initially and that further points deductions would be enforced if not adhered to.
All seems unresolved and uncertain atm. as surely with entering admin. there will be other financial restrictions. Isn't there already a freeze on Bury's accounts or does admin unlock these?
Talk of compo. for Lowe to PA of £150K - where does that go? |
The Loan co will be looking to have their say in the repaying of debt. They will have to pay the administrators fees so will seek to appoint their own choice rather than one appointed by Dale. (Grizzly, not Roch). They would also seek to appoint before the Court does. It still needs to prove that there is a potentially profitable business going forward, that will necessitate significant cost cutting for this lot, and a CVA will have to be agreed, which could still lead to a winding up order if either one isn't agreed or if a creditor decides to pursue one after the period of administration is over (think it's 12 months). Or summat. RAFCBLUE is the man to fine tune my clumsiness | |
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| tomorrow can't come quick enough on 21:30 - Jun 5 with 5361 views | Cleedale |
| tomorrow can't come quick enough on 21:26 - Jun 5 by judd |
The Loan co will be looking to have their say in the repaying of debt. They will have to pay the administrators fees so will seek to appoint their own choice rather than one appointed by Dale. (Grizzly, not Roch). They would also seek to appoint before the Court does. It still needs to prove that there is a potentially profitable business going forward, that will necessitate significant cost cutting for this lot, and a CVA will have to be agreed, which could still lead to a winding up order if either one isn't agreed or if a creditor decides to pursue one after the period of administration is over (think it's 12 months). Or summat. RAFCBLUE is the man to fine tune my clumsiness |
Thanks Judd. | | | |
| tomorrow can't come quick enough on 21:33 - Jun 5 with 5341 views | judd |
| tomorrow can't come quick enough on 21:30 - Jun 5 by Cleedale |
Thanks Judd. |
My understanding of it, in summary, is that administration does not guarantee survival and there may be a lot of wasted wet wipes in the bury area tonight. | |
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| tomorrow can't come quick enough on 21:49 - Jun 5 with 5258 views | TVOS1907 |
| tomorrow can't come quick enough on 20:04 - Jun 5 by kel |
It’s almost as if they’re proud of it. Shameful reading. |
They are celebrating it like they celebrated the goals scored by all the players they really couldn't afford. |  |
| When I was your age, I used to enjoy the odd game of tennis. Or was it golf? |
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| tomorrow can't come quick enough on 22:29 - Jun 5 with 5133 views | dingdangblue |
| tomorrow can't come quick enough on 21:26 - Jun 5 by judd |
The Loan co will be looking to have their say in the repaying of debt. They will have to pay the administrators fees so will seek to appoint their own choice rather than one appointed by Dale. (Grizzly, not Roch). They would also seek to appoint before the Court does. It still needs to prove that there is a potentially profitable business going forward, that will necessitate significant cost cutting for this lot, and a CVA will have to be agreed, which could still lead to a winding up order if either one isn't agreed or if a creditor decides to pursue one after the period of administration is over (think it's 12 months). Or summat. RAFCBLUE is the man to fine tune my clumsiness |
What are the benefits to the loan company putting bury into administration? Surely by failing to repay the loan dont the loan company just get Gigg Lane for nowt? |  |
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| tomorrow can't come quick enough on 22:34 - Jun 5 with 5110 views | VivaDonaldo |
| tomorrow can't come quick enough on 22:29 - Jun 5 by dingdangblue |
What are the benefits to the loan company putting bury into administration? Surely by failing to repay the loan dont the loan company just get Gigg Lane for nowt? |
You'd think so but I think in the world of football the footballing creditors come first in the event of liquidation.
As most of their "Assets" can walk away from contracts and therefore have no value Gigg Lane becomes the only thing of any worth and the loan company would have to settle for what's left once footballing creditors have been dealt with. They might then fall in line behind the tax man and others.
Happily corrected if I don't have the right understanding here. | | | |
| tomorrow can't come quick enough on 22:46 - Jun 5 with 5062 views | judd |
| tomorrow can't come quick enough on 22:34 - Jun 5 by VivaDonaldo |
You'd think so but I think in the world of football the footballing creditors come first in the event of liquidation.
As most of their "Assets" can walk away from contracts and therefore have no value Gigg Lane becomes the only thing of any worth and the loan company would have to settle for what's left once footballing creditors have been dealt with. They might then fall in line behind the tax man and others.
Happily corrected if I don't have the right understanding here. |
That's pretty much my understanding. If the loan co don't control the administration then they stand to recover far less. | |
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| tomorrow can't come quick enough on 22:49 - Jun 5 with 5056 views | VivaDonaldo |
| tomorrow can't come quick enough on 22:46 - Jun 5 by judd |
That's pretty much my understanding. If the loan co don't control the administration then they stand to recover far less. |
But aren't bridging finance the 2nd charge holder on Gigg Lane, with Moneything being the primary?
Or was that satisfied at some point? | | | |
| tomorrow can't come quick enough on 22:55 - Jun 5 with 5027 views | dingdangblue |
| tomorrow can't come quick enough on 22:46 - Jun 5 by judd |
That's pretty much my understanding. If the loan co don't control the administration then they stand to recover far less. |
So was this the plan all along? Day rack's up huge debts secured against the ground knowing that the loan company could never take the ground. He buggers off and puts his mate incharge to take all the flack but all along knowing that administration will be the likely outcome and the debts will be wiped out.
Who will own Gigg Lane after administration? [Post edited 5 Jun 2019 22:56]
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| tomorrow can't come quick enough on 23:40 - Jun 5 with 4923 views | DaleiLama |
| tomorrow can't come quick enough on 21:49 - Jun 5 by TVOS1907 |
They are celebrating it like they celebrated the goals scored by all the players they really couldn't afford. |
And their MP on NW tonight news saying they have a great legacy. Of what - administration and welching on their debts. Stuck in my craw that one. |  |
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| tomorrow can't come quick enough on 23:44 - Jun 5 with 4899 views | 49thseason |
| tomorrow can't come quick enough on 21:13 - Jun 5 by Cleedale |
So, 49th, does that mean (assuming that this all goes to plan from a supporters point of view) that the said company will then claw back as much of the debt as possible; read something like 35%? initially and that further points deductions would be enforced if not adhered to.
All seems unresolved and uncertain atm. as surely with entering admin. there will be other financial restrictions. Isn't there already a freeze on Bury's accounts or does admin unlock these?
Talk of compo. for Lowe to PA of £150K - where does that go? |
To be honest I have no real idea other than to say its an unbelievable mess.
Another factor is the winding up of Day's companies and the likelihood of the administrator of the Merdeco companies wanting some sort of repayment on the £4m plus that seems to have been unsecured.
I struggle to get beyond the idea that there is/ was some sort of plan behind all this designed to snaffle the ground for a relatively small amount vs its potential worth. There are a number of companies involved that most reputable businesses would probably avoid by reading the details at companies house. Either Day was reduced to dealing with some "unusual" choices for loans because he was desperate or it was by design. Who knows what his real intentions were? Surely he must have realised he was running out of road long before his exit?
I very much doubt if Capital Bridging would be able to run the club or would even want to, the loan to Bury is a big chunk of their business so I doubt they have millions to throw at it to make it viable but who knows? | | | |
| tomorrow can't come quick enough on 00:18 - Jun 6 with 4841 views | dingdangblue |
| tomorrow can't come quick enough on 23:44 - Jun 5 by 49thseason |
To be honest I have no real idea other than to say its an unbelievable mess.
Another factor is the winding up of Day's companies and the likelihood of the administrator of the Merdeco companies wanting some sort of repayment on the £4m plus that seems to have been unsecured.
I struggle to get beyond the idea that there is/ was some sort of plan behind all this designed to snaffle the ground for a relatively small amount vs its potential worth. There are a number of companies involved that most reputable businesses would probably avoid by reading the details at companies house. Either Day was reduced to dealing with some "unusual" choices for loans because he was desperate or it was by design. Who knows what his real intentions were? Surely he must have realised he was running out of road long before his exit?
I very much doubt if Capital Bridging would be able to run the club or would even want to, the loan to Bury is a big chunk of their business so I doubt they have millions to throw at it to make it viable but who knows? |
Wasn't Merdeco Stewart Day's own business - and he was bury owner - so he lent the money to himself? | |
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| tomorrow can't come quick enough on 00:18 - Jun 6 with 4841 views | James1980 |
The good folk of Brighton and Hove now get retail therapy amongst other places at the Goldstone Retail Park since the football club moved from the site in the late 90s. Is it a totally wild idea that, in the not too distant future. There will be a Gigg Lane Retail Park? | |
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| tomorrow can't come quick enough on 03:44 - Jun 6 with 4757 views | Sandyman |
| tomorrow can't come quick enough on 00:18 - Jun 6 by James1980 |
The good folk of Brighton and Hove now get retail therapy amongst other places at the Goldstone Retail Park since the football club moved from the site in the late 90s. Is it a totally wild idea that, in the not too distant future. There will be a Gigg Lane Retail Park? |
That's one option. Housing would be more lucrative.
"Misleading Estates Ltd bring you this world famous, historic, prestigious collection of beautiful new homes for property-seekers to bankrupt themselves on.The development is located in Giggle, a village in the beautiful town of Bucket. Why not call in and view our stunning 4 bedroom SD1 and SD2 Showhomes to get a glimpse of the lifestyle that could be in store for you at Administration Avenue, Debt Drive, Cheats Close, Bucket Boulevard, Welch Way, WowWowWow Walk, Revolution Road, Milky Bar Mall and Screwed Street. Spend way more than you can or will ever be able to afford to make your dreams come true. Run up crazy credit at the nearby "Neverourfault" shopping centre. Drown your debt laden misery at the brand new "Stewart and Steve" pub.Who cares if the bailiffs call, you will "Enjoy The Ride"© |  | | |
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