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ADMIN FEES

The longer they stay the more we pay.
When all the blood has been taken they will move on to the next victim.

Never forget who appointed these vultures !
 
Hampton said:
The longer they stay the more we pay.
When all the blood has been taken they will move on to the next victim.

Never forget who appointed these vultures !
Click to expand...
The longer they are tjere means the more shit we are in. There will have been a clause saying sell it quick there will be a bonus, or doyou know more?
 
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Hampton said:
The longer they stay the more we pay.
When all the blood has been taken they will move on to the next victim.

Never forget who appointed these vultures !
Click to expand...

To be fair to admin they are not clinging on or delaying anything it's the lack of the buyers putting the cash down that keeps them here.
 
Hampton said:
The longer they stay the more we pay.
When all the blood has been taken they will move on to the next victim.

Never forget who appointed these vultures !
Click to expand...

If that was the case Hampton, then why set a deadline ?

Surely if it was their intent to play it long to get more money they would not want out so quickly.
 
Setting deadlines in our situation is meaningless and in this case useless as none of the alledged bidders took any notice of it.
Simply reduces admins credibility.
 
king_dezeeuw06 said:
To be fair to admin they are not clinging on or delaying anything it's the lack of the buyers putting the cash down that keeps them here.
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Have no intention of being fair to the admins - as earlier, never forget who appointed them and for what initial purpose !
If you believe otherwise fair do's but IMO having any trust in these wrong uns appointed by wrong uns is misguided
 
Come on Wigan said:
The longer they are tjere means the more shi we are in. There will have been a cluase saying sell it quick there will be a bonus, or doyou know more?
Click to expand...
Don't know any more but admins in general will only act to the benefit of themselves first and foremost.
If there was a swift sale bonus they've not exactly cracked on and if the quick sale bonus date is past then they would max fees by stringing it out or asset strip ahead of liquidation (which looks like it's now started)
 
Hampton said:
Don't know any more but admins in general will only act to the benefit of themselves first and foremost.
If there was a swift sale bonus they've not exactly cracked on and if the quick sale bonus date is past then they would max fees by stringing it out or asset strip ahead of liquidation (which looks like it's now started)
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Who are you assuming would pay the bonus ?
 
Hampton said:
Have no intention of being fair to the admins - as earlier, never forget who appointed them and for what initial purpose !
If you believe otherwise fair do's but IMO having any trust in these wrong uns appointed by wrong uns is misguided
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I don't really trust or distrust them - they are just going to do what they were brought in to do. It's a horrible process but any administrator would be doing exactly the same and following the same process.
 
Bloody hell, get real, £10,000 a day, sure it sounds and is a lot of cash.
Yet this is what it costs for this sort of service. Your not just paying for the 3 admins but also their backup staff.
Not shocked at all by the cost, said as much at the start of this on here.
However the admins do look out for themselves, of course, as any of us would.
 
Hampton said:
It was suggested(not by me) that pur former owner may have incentivised them to do this
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I seriously doubt that this could be anything but gossip and speculation mate. The admins are regulated and their fees can be scrutinised by a creditors committee so if there was anything like you are suggesting I think that it would be seen as inciting them to cut corners and not secure the best deal available.

I think your previous speculative post about them stringing it out would have more credibility and that for me is a non starter for the same reasons as above.

The admins will take whatever time is required to do their work and will claim the appropriate fees for doing it. It will be close to the figure that Pies has given and that I'm afraid is the be all and end of it, we certainly can't do much about it. The only challenge that could be raised is by the creditors if they think it is unreasonable.
 
TRUE BELIEVER said:
I seriously doubt that this could be anything but gossip and speculation mate. The admins are regulated and their fees can be scrutinised by a creditors committee so if there was anything like you are suggesting I think that it would be seen as inciting them to cut corners and not secure the best deal available.

I think your previous speculative post about them stringing it out would have more credibility and that for me is a non starter for the same reasons as above.

The admins will take whatever time is required to do their work and will claim the appropriate fees for doing it. It will be close to the figure that Pies has given and that I'm afraid is the be all and end of it, we certainly can't do much about it. The only challenge that could be raised is by the creditors if they think it is unreasonable.
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I tend to agree on the early completion bonus TB but again I was responding to that suggestion not making it.
To my original point of stringing out the process to increase fees then absolutely they will do it as folk on day rates do in every walk of life.
Will they cross any legal line ? not unless they are rubbish at their job.
Will the push right to the line ? yes unless they are rubbish at their job.
All the while much needed funds and assets are being removed.
 
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