| Bury in deep dodo on 19:03 - Apr 10 with 1737 views | aleanddale |
Speaking of lottery winners!
I wonder where he is these days!
Spare million For his beloved shakers? |  | |  |
| Bury in deep dodo on 19:04 - Apr 10 with 1712 views | mightydale |
| Bury in deep dodo on 19:03 - Apr 10 by aleanddale |
Speaking of lottery winners!
I wonder where he is these days!
Spare million For his beloved shakers? |
thats a good question |  |
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| Bury in deep dodo on 19:55 - Apr 10 with 1606 views | Pops2 |
| Bury in deep dodo on 18:52 - Apr 10 by dingdangblue |
Needing a loan to pay players wages and transfer embargos are a pretty big sign. |
Press conference tomorrow. In some respects I think it would be best to fold as a club, that would rid the club of the board and useless staff/players and reform as a supporter backed club along the Exeter model AFC Bury Evo Stick champions 2017 is my revised dream.
Right anyway they have tipped me over the edge so I am going to book a bank holiday break for early May as a pick me up. | | | |
| Bury in deep dodo on 20:14 - Apr 10 with 1585 views | rochdalefan9 |
sorry to see this happen to any club but especially local rivals. I was looking forward to seeing us all play in the same division next season. Been quite a while | | | |
| Bury in deep dodo on 20:35 - Apr 10 with 1560 views | izzitme |
Truly shocking!
Why not ask for 50 investors to put up £20K? Much more realistic.
And how could concrete guarantees of a return be given? What securities does BFC hold, if any? Do they still own the ground?
My understanding is that the under performing Bishop still has his wages paid by a lottery winner from Heywood? There are not any other saleable players in the squad?
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| Bury in deep dodo on 20:58 - Apr 10 with 1505 views | PDIDDY |
Why should anyone dig deep to help out AGAIN? Fold and start up in league of darlo, new grounds an all that.... I will follow my 2nd local team the mighty dale |  |
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| Bury in deep dodo on 21:01 - Apr 10 with 1511 views | mightydale |
| Bury in deep dodo on 20:58 - Apr 10 by PDIDDY |
Why should anyone dig deep to help out AGAIN? Fold and start up in league of darlo, new grounds an all that.... I will follow my 2nd local team the mighty dale |
hey diddy what will happen to the IRS IF YOU FOLD | |
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| Bury in deep dodo on 21:04 - Apr 10 with 1505 views | Pops2 |
| Bury in deep dodo on 20:35 - Apr 10 by izzitme |
Truly shocking!
Why not ask for 50 investors to put up £20K? Much more realistic.
And how could concrete guarantees of a return be given? What securities does BFC hold, if any? Do they still own the ground?
My understanding is that the under performing Bishop still has his wages paid by a lottery winner from Heywood? There are not any other saleable players in the squad?
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Investors, more like idiots so it would be easier to find 10 rather than 50.
We own the ground and training ground.
Bish paid for by the club, the lottery winner rightly got sick of paying for an injured player and so would I.
Worrall/Jones are the only players of value and both will go for nowt. | | | |
| Bury in deep dodo on 21:14 - Apr 10 with 1496 views | ThreeLions |
| Bury in deep dodo on 20:58 - Apr 10 by PDIDDY |
Why should anyone dig deep to help out AGAIN? Fold and start up in league of darlo, new grounds an all that.... I will follow my 2nd local team the mighty dale |
Hope it all gets sorted for you Diddy lad, like you say why should our mutual friend from Heywood dig them out the shit again. |  | | |
| Bury in deep dodo on 21:27 - Apr 10 with 1459 views | PDIDDY |
| Bury in deep dodo on 21:01 - Apr 10 by mightydale |
hey diddy what will happen to the IRS IF YOU FOLD |
IRS in bacup, now that's a day out, gutted I'm not goin v Oldham now, mite be last ever game at gigg, toon v mackem s for me, GREMLINS | |
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| Bury in deep dodo on 22:24 - Apr 10 with 1379 views | MoonyDale |
| Bury in deep dodo on 16:47 - Apr 10 by judd |
Scare tactics?
Blimey, I need a £1m within days else I'm a gonna, lend it me will ya? I promise to pay it back, look at my track record.
To go so public on such a sensitive issue strikes me not as a scare tactic but as a final throw of the dice. |
I find it incredible that a board could let this get so far before doing something, they should have gone into admin months ago before it got this far, take the 10 points and hope to god that they survived next season. Unless the bill is to HMRC of course, I will genuinely be gutted if they fold and there will be no crowing here if the worst happens. All banter aside if they cease to exist and Oldham manage to stay in league 1 it will be 2 derby's that we won't get next season...... |  |
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| Bury in deep dodo on 22:27 - Apr 10 with 1371 views | dingdangblue |
"And its 2 big no's from me"
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| Bury in deep dodo on 22:42 - Apr 10 with 1324 views | downunder |
Sell your medals. bury keep telling us you have some from 1902 or summat, they might be worth a bit. |  | | |
| Bury in deep dodo on 23:04 - Apr 10 with 1297 views | deeplishblue |
What about that effeminate organ player who was going to "pump something in" a few years ago - can they not ask him for help?. I think he lived in an old peoples home somewhere. |  |
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| Bury in deep dodo on 00:19 - Apr 11 with 1188 views | dingdangblue |
"And its a no from us"
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| Bury in deep dodo on 00:24 - Apr 11 with 1183 views | Spotty |
| Bury in deep dodo on 22:42 - Apr 10 by downunder |
Sell your medals. bury keep telling us you have some from 1902 or summat, they might be worth a bit. |
Perhaps they can melt down their fa cups. |  | | |
| Bury in deep dodo on 00:29 - Apr 11 with 1172 views | roccydaleian |
| Bury in deep dodo on 00:19 - Apr 11 by dingdangblue |
"And its a no from us"
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And a no from me!
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| Bury in deep dodo on 00:36 - Apr 11 with 1163 views | dingdangblue |
| Bury in deep dodo on 00:24 - Apr 11 by Spotty |
Perhaps they can melt down their fa cups. |
Or sell the fax machine? | |
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| Bury in deep dodo on 08:32 - Apr 11 with 1082 views | gigger |
Fred talbot once did weather from bury market, maybe just maybe!! He needs some new friends  |  |
| What's happened to kel ??? |
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| Bury in deep dodo on 08:41 - Apr 11 with 1070 views | aleanddale |
| Bury in deep dodo on 19:55 - Apr 10 by Pops2 |
Press conference tomorrow. In some respects I think it would be best to fold as a club, that would rid the club of the board and useless staff/players and reform as a supporter backed club along the Exeter model AFC Bury Evo Stick champions 2017 is my revised dream.
Right anyway they have tipped me over the edge so I am going to book a bank holiday break for early May as a pick me up. |
Pops / Gigger
any clue to what will come from the press conference today?
Clear the debt and cut the cloth properly?
or Fold and do a Darlo starting 8 or 9 tiers down?.
If the later would you still play at Giggle?
i do want you to get out of this mess but i fear its more of a mess than most realise. | | | |
| Bury in deep dodo on 09:36 - Apr 11 with 1028 views | judd |
Someone sent me this, which I think was posted on a bury MB:
Having bought several businesses out of administration in my job it is perhaps worth explaining a few legal issues here.
1. The Directors have a duty to protect the creditors and should be not taking on any liabilities that, at the time, they knew would not be settled. If the club goes bust then anyone who has purchased a bond or even a season ticket for next year is a creditor and has every right to ask the Directors why the club took their money. Any future insolvency practictioner would be required to write a report on the conduct of the directors.
2. Administration is a legal process that affords a company protection against its creditors. It is generally used in the following circumstances:
a) if a company has secured its debt against its assets and that creditor wants to call those assets in. From looking on Companies House, my understanding is that the club has security to Thwaites Brewery but not to LTSB - this suggests that the club does not have an overdraft facility
b) if it is looking for protection against some other creditor who isn't secured but is threatening a winding up petition eg HMRC
Either of these situations could be true but given the potential lack of an overdraft facility then it all points to a more simple solvency issue in so much as the club cannot carry on trading ie it cannot meet its liabilities and chances are the Directors have been given specific legal advice to say that they are in danger of breeching their duty of care to the creditors.
So, what are the options:
1. Administration - an administrator is personally liable for any shortfall in funding whilst they are in office so, not surprisingly, an administrator will not go cashflow negative. Given that we are at the end of the season with no forseeable revenues comming in then this represents a major issue unless we have some major assets which can be turned into cash quickly - does the ground / land count as that? Possibly but i would imagine that anyone interested would want to pick through the bones only if they got free title without BFC being there. The administrator could try and run the club without any outgoings but that relies on the goodwill of its employees or alternatively...
2. Liquidation - if there is no realistic prospect of the business being able to exist then the Administration quickly becomes a liquidation
Apologies if I come across as overtly negative but from the outside this looks bad. Really bad.
My thoughts are with the innocent employees of the club who have mortgages etc to pay. God knows what they are feeling at the moment but I genuinely wish them well. |  |
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| Bury in deep dodo on 09:45 - Apr 11 with 1009 views | MoonyDale |
| Bury in deep dodo on 09:36 - Apr 11 by judd |
Someone sent me this, which I think was posted on a bury MB:
Having bought several businesses out of administration in my job it is perhaps worth explaining a few legal issues here.
1. The Directors have a duty to protect the creditors and should be not taking on any liabilities that, at the time, they knew would not be settled. If the club goes bust then anyone who has purchased a bond or even a season ticket for next year is a creditor and has every right to ask the Directors why the club took their money. Any future insolvency practictioner would be required to write a report on the conduct of the directors.
2. Administration is a legal process that affords a company protection against its creditors. It is generally used in the following circumstances:
a) if a company has secured its debt against its assets and that creditor wants to call those assets in. From looking on Companies House, my understanding is that the club has security to Thwaites Brewery but not to LTSB - this suggests that the club does not have an overdraft facility
b) if it is looking for protection against some other creditor who isn't secured but is threatening a winding up petition eg HMRC
Either of these situations could be true but given the potential lack of an overdraft facility then it all points to a more simple solvency issue in so much as the club cannot carry on trading ie it cannot meet its liabilities and chances are the Directors have been given specific legal advice to say that they are in danger of breeching their duty of care to the creditors.
So, what are the options:
1. Administration - an administrator is personally liable for any shortfall in funding whilst they are in office so, not surprisingly, an administrator will not go cashflow negative. Given that we are at the end of the season with no forseeable revenues comming in then this represents a major issue unless we have some major assets which can be turned into cash quickly - does the ground / land count as that? Possibly but i would imagine that anyone interested would want to pick through the bones only if they got free title without BFC being there. The administrator could try and run the club without any outgoings but that relies on the goodwill of its employees or alternatively...
2. Liquidation - if there is no realistic prospect of the business being able to exist then the Administration quickly becomes a liquidation
Apologies if I come across as overtly negative but from the outside this looks bad. Really bad.
My thoughts are with the innocent employees of the club who have mortgages etc to pay. God knows what they are feeling at the moment but I genuinely wish them well. |
From what I am led to believe they own the ground and the training ground, perhaps something could be done with a sale of either/both. Could be their only hope, we await today's press conference... | |
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