Grendel
Well-Known Member
The company handled the Blackpool process I think as well so it’s a good choice
Bolton Troubles (2 Viewers)
- Thread starter jto123
- Start date
The company handled the Blackpool process I think as well so it’s a good choice
RoboCCFC90
Well-Known Member
They (David Rubin & Partners) appear to be trusted in handling administration cases for professional Football clubs, which is promising for Bolton at least.
Hopefully they get the best outcome possible, but a part of me remains sceptical seeing Paul Appleton's name associated with the case.
fernandopartridge
Well-Known Member
What was it he did wrong with the CCFC administration? Or is it just another pantomime villain
tisza
Well-Known Member
Did he ever release a full report on the admin or the one on directors and ex-directors activities?
Main gripe at the time was he ruled out other bids as Otium were threatening legal action if he accepted an alternative offer.
Nick
Administrator
The gripe was that ACL had Haskell lined up and they didn't expect SISU to have engineered it so that the other bids didn't matter anyway. That's why people were outraged and people like PWKH getting everybody worked up.
The anger came from ACL pushing Haskell as the new owner in the media beforehand, then it didn't happen.
SBAndy
Well-Known Member
Is that so? Can’t imagine that would be correct but if there’s evidence I’m happy to learn more.
The administrators’ job is to ensure the creditors receive as much of their accrued debt as possible. Being as the overwhelming portion of debt was effectively owed to another SISU company, it put them in pole position to offer a higher percentage settlement of the debts than any external party. That’s the way I’ve always read it and a re-sale to a SISU company was inevitable due to the lack of other creditors involved.
chiefdave
Well-Known Member
No it’s not.
From memory it was something like ACL thought they were being clever and could get Haskell in as a new owner but it turned out assets that constitute the football club, things like the golden share that was ‘lost’ and player registrations, were in another company.
Buying the company that was in admin wouldn’t make you the owner of CCFC so the bidders pulled out.
Nick
Administrator
Exactly, step up PR companies, Sky Blue Trust and Telegraph to make everybody angry because it backfired on them.
Just seen that Bolton have now had to get an emergency foodbank for members of staff who haven't been paid, people always think about the players but the normal everyday staff who won't have been paid will be struggling.
chiefdave
Well-Known Member
Apparently Everton have sent money to cover a weeks wages for the staff not getting paid. Liverpool, Leeds, Huddersfield and Blackpool also reported to have assisted financially.
fernandopartridge
Well-Known Member
Yet not a bean from Manchester City
oucho
Well-Known Member
Bizarre statement from Appleton today, accusing the players' statement yesterday of being "littered with factual inaccuracies" and that they're not in real hardship / should think themselves lucky, "they have no appreciation of what's going on" etc. Strange thing to see from a court-appointed administrator - came across like he was rattled by the call-off of their game today and was writing the statement in a fit of annoyance.
Covstu
Well-Known Member
Taking it a bit personally isn’t he!?
no_loyalty
Well-Known Member
Just cancelled their next friendly against Preston, scheduled for Tuesday night.
Terry Gibson's perm
Well-Known Member
I am sure he will get paid, I haven’t read it but I take it he corrected the bits he didn’t like in the statement
CanadianCCFC
Well-Known Member
robbiekeane
Well-Known Member
Surely not paying them is a breach of contract and so they can leave on a free. Would be astounded if that isn’t the case
Terry Gibson's perm
Well-Known Member
Another fine job by Appleton
rd45
Well-Known Member
Seems like an obvious breach of contract. But I guess from the administrator’s point of view, players under contract are valuable assets that belong to the club. If they walk now, there’s even less for the creditors to pick over.
Even selling them at a fair price - much less letting them walk - essentially kills any chance that the club can fulfil their fixtures, given the size of their squad. So they’re basically trapped there until the admin process is done.
I’d very happily take Oztumer on a free once they finally go belly up.
Sky_Blue_Dreamer
Well-Known Member
That's of no consequence though. He has no legal authority to refuse - there has been a breach of contract and thus the contract is voidable. He can take it to court if he likes but he knows there is almost no chance he'll win. In which case he's just cost the club more money in legal fees and reduced the amount creditors will get even more.
rd45
Well-Known Member
I expect he probably would win in fact - getting paid for your services is quite well established in contract law - but I think the bet that the administrator is making is that it would take too long.
Grendel
Well-Known Member
What can he do?
Terry Gibson's perm
Well-Known Member
Wait for the previous owner is his normal trick must be having to do some work this time he is a parasite
Nick
Administrator
Still love how everybody gets wound up because acl thought they were going to take over and it backfired.
Sky_Blue_Dreamer
Well-Known Member
Explain.
It will be written in the players contracts they will receive £x paid on nth of the month from the club for their services. The club have not paid this. Not just once but for five months apparently. This is a breach of the contract and thus renders it voidable at the behest of the player, probably including them having to give notice of them doing so.
It has been a theoretical argument as to whether a player could just hand in their notice and just leave regardless - the issue being the fixed term nature of the contract. Why footballers couldn't in a situation where they haven't even been paid would be a very eye-opening interpretation of both contract and employment law.
Grendel
Well-Known Member
He acted entirely correctly as he’s doing now.
Terry Gibson's perm
Well-Known Member
I wouldn’t say wound up Nick he is a parasite most administrators are (my brother is one). Do you think he would be taking this long if he wasn’t getting paid if the administration team got paid it would be interesting.
Terry Gibson's perm
Well-Known Member
Ask the players who haven’t been paid and are trying to get released if they think it is correct it will be interesting to see if the pfa get them released.
Wyken Sky Blue
Well-Known Member
Can't even buy season tickets yet or any game for that matter. Even their away game next weekend against Wycombe isn't on their website.
Could be an interesting week to see if they even start the season!
Sent from my G8441 using Tapatalk
Could be an interesting week to see if they even start the season!
Sent from my G8441 using Tapatalk
Grendel
Well-Known Member
The club have to have some form of squad - it’s already far too light on players
The admin team have to try and sell the club - it’s options seem limited to one party and if the can’t sell within a week it’s unlikely the club can survive
Sky Blue Pete
Well-Known Member
Surely football won’t let Bolton cease
fernandopartridge
Well-Known Member
Talk to the Trust, they'll advocate the heaviest punishment by removing the golden share like they do for an insolvent CCFC