Are there grounds to lodge a complaint against the Administrator ? (1 Viewer)

[Voice_of_Reason]

My personal opinion is that I do not feel the Administrator has handled the Administration process as well as might be expected. I was just wondering if there are any grounds for submitting a complaint about his handling of the process ? Note, this is my opinion only and not a statement of fact.

 

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[stupot07]

How did you expect the administration process to be handled?

I think he's done his job properly within his legal duty to the creditors. His job wasn't to make fans happy.

 

[Voice_of_Reason]

How did you expect the administration process to be handled?

A lot quicker than it has been for one !

 

[jesus-wept]

Not sure but I would think there could be but remember he is joint administrator I think his boss a David Rubens is the other. So have they covered themselves here where lets say Appleton was found wanting this Rubens chap just comes in for him as I assume it would be Appleton the individual and not David Rubens the company held to account and we will just have the other cheek of the same backside.

 

[ajsccfc]

Haskell made a comment saying there was no issue with how Appleton went about his business, so I don't think there'd be much of a complaint outside of not getting the result you'd hoped for.

 

[magic82ball]

How did you expect the administration process to be handled?

I would of hoped with a wider remit of how best to compensate the creditors that didn't start and stop at accepting the highest bid, any monkey could have done this. What point is there of accepting the highest bid when it means long term the creditors ie. ACL, are without a tenant costing them far more money overall? It was always going to come to this and common sense approach would have definitely helped CCFC and ACL long term. But then why would common sense be used in this omnishambles?

 

[Noggin]

It's likely he has followed the letter of the law but I certainly don't think the spirit has been followed. His job is to get the best deal for the creditors yet SISU are going to end up with something like 800k and ACL about 600k (without a lease) I find it very unlikely that this bid provided the most amount of value for either party. It's what sisu wanted of course but it's not ending up with them getting the most money. He's likely to have just taken the bid that provided the greatest percentage in the pound even though it hasn't provided the most value for either party.