Administration? | Vital Football

Administration?

V

vinney

Vital Reserves Team
Eddie Allcorn is asking on Facebook if anyone has heard anything about us going into administration,as he has heard a rumour about it. Should keep the sob happy if true.
 
We just lurve Clickbait !!

PS has told us we have no debt, we have attracted no investment so no one to repay but him and no Bank would lend to us so nothing to repay to them, therefore I think you know the answer. What would be an administrator's function?

Even if we had defaulted on the EFL loan, that would be better recovered by withholding amounts that they would be due to pay to us in the future.
 
GillsBluenose said:
We just lurve Clickbait !!

PS has told us we have no debt, we have attracted no investment so no one to repay but him and no Bank would lend to us so nothing to repay to them, therefore I think you know the answer. What would be an administrator's function?

Even if we had defaulted on the EFL loan, that would be better recovered by withholding amounts that they would be due to pay to us in the future.
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Agree with this, what point would there be for an administration?

We haven’t defaulted on the EFL loan though otherwise we’d still be under the (not an) embargo. Can assume that’s all been sorted.

Who is this Eddie Allcorn? Should we know?
 
It makes no sense whatsoever. I don’t think I can recall a football league club going into administration without some well documented issue such as non payment of players or a winding up petition from HMRC. Given that nothing like this has been suggested, I call this bollocks.
 
PuB said:
Agree with this, what point would there be for an administration?

We haven’t defaulted on the EFL loan though otherwise we’d still be under the (not an) embargo. Can assume that’s all been sorted.

Who is this Eddie Allcorn? Should we know?
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eddie-allcorn_10.jpg
His comments and face have been well documented so I don't think there is a problem posting this.Google him for more information.At least unlike Graham Fred Perry he could be called a genuine Gillingham supporter.
 
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Therealwaldo said:
It makes no sense whatsoever. I don’t think I can recall a football league club going into administration without some well documented issue such as non payment of players or a winding up petition from HMRC. Given that nothing like this has been suggested, I call this bollocks.
Click to expand...

I think I read somewhere we owed £600k to someone following an employment tribunal.
 
Scally out of the country and the firing line. Financial man Fisher appointed to oversee the administration process.
Transfer Budget seemingly spent and mostly shit players signed. Who knows?
-10 points would not look good for our position in the table, so let’s hope it’s not true.
 
At away games Eddie is always greeted with “play up Brompton, fcuk off Eddie” usually after fixing his flag to some section of the away end.
 
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Lark said:
Scally out of the country and the firing line. Financial man Fisher appointed to oversee the administration process.
Transfer Budget seemingly spent and mostly shit players signed. Who knows?
-10 points would not look good for our position in the table, so let’s hope it’s not true.
Click to expand...

It makes no sense, yes we might not have a pot to piss in, but unless someone is calling in a debt (and I think the only debt is to the Three Directors company), then administration would still see them getting offered something less than they are owed.
Sometimes in the case of football administrations a mere few pence to the pound, and as Mr Scally is one of the three directors, I can hardly see that happening.

Mr Fisher wouldn’t be appointed to oversee an administration either, administrators are independent from the struggling business.
 
PuB said:
It makes no sense, yes we might not have a pot to piss in, but unless someone is calling in a debt (and I think the only debt is to the Three Directors company), then administration would still see them getting offered something less than they are owed.
Sometimes in the case of football administrations a mere few pence to the pound, and as Mr Scally is one of the three directors, I can hardly see that happening.

Mr Fisher wouldn’t be appointed to oversee an administration either, administrators are independent from the struggling business.
Click to expand...
Maybe Michael Anderson is calling his debt in?
 
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