Liquidator BDO receipts/payments/SPL prize money/debentures/ to 13/04/2013.

[Calgacus 8]

In the end was there really a lot of difference between the deal that Paul Murray's group were offering and the one that Duff and Phelps did with the Zeus group?

[RANGERRAB 3,306]

Surely someone will now instigate legal action against the SPL now this BDO document has been seen. This is extortion in all but name.

[Doc 280]

Surely someone will now instigate legal action against the SPL now this BDO document has been seen. This is extortion in all but name.

 

Absolutely right mate. That money belonged to the club and should have been used to maximize the payment to OLDCO creditors. Since when did the SPL become a creditor? We had a few debts to individual clubs that could have been addressed without involving the SPL, but not that much! The creditors get shafted again but this time thanks to the SPL. We were blackmailed pure and simple.

[calscot 0]

I really don't get D&P's strategy for the creditors. In a ruthless sense they should have sold all our sellable players to the highest bidder and tried to bring in about £15m, sued the SPL for the prize money and sold off as much real estate as possible while leaving enough for a going concern. There's plenty of other income they seemed to write off or gift to the newco.

[der Berliner 3,290]

The problem is: who would be that "someone" to go after the SPL/SFA? In many ways and instances, the Bears have relied on "someone else" to act/react ... and usually nothing came of it. It would obviously has to be someone with an interest and the required funds, like King, who was a shareholder in the OldCo and should sooner or later become a shareholder in the NewCo. Or some fangroup backed by the RFFF. Sometimes it makes you wonder why somesuch takes so long ...

[JTP 0]

The problem is: who would be that "someone" to go after the SPL/SFA? In many ways and instances, the Bears have relied on "someone else" to act/react ... and usually nothing came of it. It would obviously has to be someone with an interest and the required funds, like King, who was a shareholder in the OldCo and should sooner or later become a shareholder in the NewCo. Or some fangroup backed by the RFFF. Sometimes it makes you wonder why somesuch takes so long ...

 

For me it should have the RFFF written all over it. The second 'F' being the operative word.

Edited May 29, 2013 by JTP

[RANGERRAB 3,306]

What I don't understand is how the SPL(or the SFA) got to keep this money. It either belonged to the oldco(for creditors) or to newco. Certainly not the SPL(or the SFA).

[Calgacus 8]

the question I keep coming back to, is why was the SPL involved at all?

[RANGERRAB 3,306]

the question I keep coming back to, is why was the SPL involved at all?

 

It wasn't their money to keep was it ? it either belonged to oldco or newco