disgruntled_bear 157 Posted February 1, 2012 Share Posted February 1, 2012 FFS, Don't think you fully understand what liquidation entails. Quote Link to post Share on other sites More sharing options...
Figo 91 Posted February 1, 2012 Share Posted February 1, 2012 Lol.I may finally be able to take over from Papac as LB!!!!I'm all for it! Three Cheers for misplaced optimism! Quote Link to post Share on other sites More sharing options...
HG5 11,301 Posted February 1, 2012 Share Posted February 1, 2012 I read threads like this, and the next thread is related to fan ownership.God fucking forbid.Brilliant observation - would be PMSL I'd it wasn't so serious! Quote Link to post Share on other sites More sharing options...
TheFarmer 260 Posted February 1, 2012 Share Posted February 1, 2012 If we lose the tax case, then administration and agreeing a certain amount of pence in the pound to pay off our creditors would be inevitable. But we will never be liquidated. The value of our assets are worth more than the debt will be in a worst case scenario, we'd sell the stadium and lease it back, sell murray park and lease it back (or train elsewhere), and sell our players that are worth anything.Liquidation isnt an option. And if we win the tax case, then none of this will be a problem. Quote Link to post Share on other sites More sharing options...
Gregor Stevens Fan Club 42 Posted February 1, 2012 Share Posted February 1, 2012 But we will never be liquidated. The value of our assets are worth more than the debt will be in a worst case scenario, In a worst case scenario then debt COULD be the following:Debt to Whyte - £18MDebt to Ticketus - £24MDebt to HMRC - £49MThat's £91MWould our assets be worth more than the debt ?? Quote Link to post Share on other sites More sharing options...
hectorwindsor 0 Posted February 1, 2012 Share Posted February 1, 2012 And say we never got promoted?dont be so silly! Quote Link to post Share on other sites More sharing options...
Brian Fantana 28,894 Posted February 1, 2012 Share Posted February 1, 2012 This is why I think liquidation could be the best option for us... we could start again from scratch. If we managed to find a proper custodian, who had our best interests at heart (not looking to make a quick buck for himself), he could buy the stadium from the liquidator and start all over again.took Murray 4 years to find the owner we have just now FFS Quote Link to post Share on other sites More sharing options...
whytes3 254 Posted February 1, 2012 Share Posted February 1, 2012 Currently we are financially hamstrung as our turnover is severely restricted due to the fact we have sold off our merchandising, catering and now future season book sales.This is why I think liquidation could be the best option for us... we could start again from scratch. If we managed to find a proper custodian, who had our best interests at heart (not looking to make a quick buck for himself), he could buy the stadium from the liquidator and start all over again.I actually think it would be better for us to start in Div 3 with an entirely new squad to let us start completely from scratch. We would get back to back promotions and be back in the SPL, debt free with all our commercial rights back under our own ownership, in 3 years.Reeks of Declan Quote Link to post Share on other sites More sharing options...
Chef 436 Posted February 1, 2012 Share Posted February 1, 2012 Lol.I may finally be able to take over from Papac as LB!!!!I'm all for it! Three Cheers for misplaced optimism! Thats my spot, at least there will be competition do places Quote Link to post Share on other sites More sharing options...
TheFarmer 260 Posted February 1, 2012 Share Posted February 1, 2012 In a worst case scenario then debt COULD be the following:Debt to Whyte - £18MDebt to Ticketus - £24MDebt to HMRC - £49MThat's £91MWould our assets be worth more than the debt ??Fixed assets are currently valued at £125MThen players must be worth at least £10M - £15M in a fire saleAlso the £18 million you quote is rumoured to have come from the £24 million, so we wouldnt owe bothEdit: Plus the fact that a deal will be struck between creditors and administrators that we will pay (for example) 10p in the pound Quote Link to post Share on other sites More sharing options...
gunslinger 270 Posted February 1, 2012 Share Posted February 1, 2012 if may be the only option thanks to sdm. Quote Link to post Share on other sites More sharing options...
radlord 24 Posted February 1, 2012 Share Posted February 1, 2012 I'd imagine the JJB deal doesn't have that long to run left anyway... Quote Link to post Share on other sites More sharing options...
Gregor Stevens Fan Club 42 Posted February 1, 2012 Share Posted February 1, 2012 Fixed assets are currently valued at £125MAnd Jelavic was valued at £10M (i.e. a value in the accounts does not necessarily mean that you will realise that value when selling). Quote Link to post Share on other sites More sharing options...
theweebluenose 4,332 Posted February 1, 2012 Share Posted February 1, 2012 I typed a long post pointing out the stupidity of this thread but really why bother? Forum's been unbelievable the past few days. Quote Link to post Share on other sites More sharing options...
TheFarmer 260 Posted February 1, 2012 Share Posted February 1, 2012 And Jelavic was valued at £10M (i.e. a value in the accounts does not necessarily mean that you will realise that value when selling).Read my edited post Its all guesswork what is going to happen, at the moment. Quote Link to post Share on other sites More sharing options...
Gregor Stevens Fan Club 42 Posted February 1, 2012 Share Posted February 1, 2012 Fixed assets are currently valued at £125MThen players must be worth at least £10M - £15M in a fire saleAlso the £18 million you quote is rumoured to have come from the £24 million, so we wouldnt owe bothEdit: Plus the fact that a deal will be struck between creditors and administrators that we will pay (for example) 10p in the poundSorry I missed the rest of your post.Regarding the £18M coming from the £24M - Whyte has denied this, however if true then it's more for us to worry about.Regarding the deal being struck with creditors - did HMRC not state recently that this practice would be stopping. Quote Link to post Share on other sites More sharing options...
simplythebest 11,453 Posted February 1, 2012 Share Posted February 1, 2012 If only it was all that simple. Quote Link to post Share on other sites More sharing options...
TheFarmer 260 Posted February 1, 2012 Share Posted February 1, 2012 Sorry I missed the rest of your post.Regarding the £18M coming from the £24M - Whyte has denied this, however if true then it's more for us to worry about.Regarding the deal being struck with creditors - did HMRC not state recently that this practice would be stopping.HMRC wont be the only creditor, plus it was discussed in Westminster today that all would be done to strike a deal with Portsmouth FC, to keep them in business. So hopefully they would accept a number of pence in the pound rather than see a great British institution being liquidated. Quote Link to post Share on other sites More sharing options...
Guardian 4,281 Posted February 1, 2012 Share Posted February 1, 2012 In a worst case scenario then debt COULD be the following:Debt to Whyte - £18MDebt to Ticketus - £24MDebt to HMRC - £49MThat's £91MWould our assets be worth more than the debt ??Don't believe everything you read.Either the whyte and ticketus debt is the same orThe tax case goes against and we owe up to the £24m they demanded. In such cases HMRC do not usualy apply interest and penalties so that would be the end of it.If that money paid off HMRC, Whytes debt goes with it and we are left with having to pay off ticket us, which would be no problem without the tax case.I find it interesting when posters always seem to take the worst case figures and throw them together, sometimes counting the same ones twice. Quote Link to post Share on other sites More sharing options...
novosleftboot 6,289 Posted February 1, 2012 Share Posted February 1, 2012 "monkey MONKEY i'm a fucking gorilla you clown"I certainly hope there's enough space on the train for me Quote Link to post Share on other sites More sharing options...
DietofWorms 2,067 Posted February 1, 2012 Share Posted February 1, 2012 Jesus cunting motherfucking Christ. Quote Link to post Share on other sites More sharing options...
Gregor Stevens Fan Club 42 Posted February 1, 2012 Share Posted February 1, 2012 Don't believe everything you read.Either the whyte and ticketus debt is the same orThe tax case goes against and we owe up to the £24m they demanded. In such cases HMRC do not usualy apply interest and penalties so that would be the end of it.If that money paid off HMRC, Whytes debt goes with it and we are left with having to pay off ticket us, which would be no problem without the tax case.I find it interesting when posters always seem to take the worst case figures and throw them together, sometimes counting the same ones twice.1. Whyte has stated that the money to pay Lloyds came from one of his companies and not Ticketus. Hence, why I have added it. 2. If we lose the Tax Case, then the debt to Whyte does not go with it (check the shareholders' circular released after the takeover). It only goes if the club is successful in the Tax Case. Quote Link to post Share on other sites More sharing options...
Guardian 4,281 Posted February 1, 2012 Share Posted February 1, 2012 1. Whyte has stated that the money to pay Lloyds came from one of his companies and not Ticketus. Hence, why I have added it. 2. If we lose the Tax Case, then the debt to Whyte does not go with it (check the shareholders' circular released after the takeover). It only goes if the club is successful in the Tax Case.1 Are you believing Whyte now ? or just certain bits that suit ?2) The debt has nothing to do with the tax case. (Check the circular). Unless we go into administration the debt is waived.Nice try tho. Quote Link to post Share on other sites More sharing options...
Gregor Stevens Fan Club 42 Posted February 1, 2012 Share Posted February 1, 2012 1 Are you believing Whyte now ? or just certain bits that suit ?I was originally answering a post that stated abot the "worst case scenario", that's why I added it.I don't believe Whyte, and I have been consistent in my belief since joining this forum.2) The debt has nothing to do with the tax case. (Check the circular). Unless we go into administration the debt is waived.Your statement is correct - I was answering on the assumption that if we lost the Tax Case, administration would be inevitableNice try tho.And, BTW - I'm not trying anything, thank you Quote Link to post Share on other sites More sharing options...
MrT 173 Posted February 1, 2012 Share Posted February 1, 2012 Can this ridiculous thread not be locked? Quote Link to post Share on other sites More sharing options...
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