Independent Leyton Orient Forum

But Bury have agreed to pay 25% of this £7m haven't they?

Prestige Worldwide wrote: ↑Fri Aug 23, 2019 10:52 pm But Bury have agreed to pay 25% of this £7m haven't they?

Yes because the Creditors Voluntary Arragement (CVA) was voted through.

Stupid decision from the administrators then, why not vote it through themselves?

I guess Dale wouldn't have done the CVA at all, unless he was rigging it to pay himself a couple of mill?

That's a possibility.

But also, administrators have to be paid out of the liquidated assets before the other creditors. And the longer a business is in administration, the higher the administrator costs so part of their duty is to not unduly prolong the administration process. Selling on a risky debt speeds up the liquidation.

Hopefully there is light at the end of the tunnel for Bury

https://www.bbc.co.uk/sport/football/49455433

Alistair Campbell’s son involved! Wonder who’s funding the bid (which is subject to further due diligence)? Can’t believe his C&N Sporting Risk consultancy is awash with millions, though they have clearly some experience of sports and betting finance.

I hope Dale doesn’t come out this making money, but the dodgy playing of the distressed “assets” Administration game may well pay off for him. Even Hearn might blanche at that ruse. Capitalism at its very worst.

slacker wrote: ↑Sat Aug 24, 2019 9:17 am ....
I hope Dale doesn’t come out this making money, but the dodgy playing of the distressed “assets” Administration game may well pay off for him. Even Hearn might blanche at that ruse. Capitalism at its very worst.

I would like to see policeor BEIS investigate Dale's dealings over Bury.

If there has not been criminal behaviour, then perhaps our laws need looking at and revising

Lucky7 wrote: ↑Sat Aug 24, 2019 6:26 am Hopefully there is light at the end of the tunnel for Bury

https://www.bbc.co.uk/sport/football/49455433

Really hope so. Bury deserve the right to continue as a league club.

I agree with spen ( blimey did I just say that?)...the police need to look at the 'goings on' over the last 9 months, because Dale seems as dodgy a character as can be, & I would not be surprised at all, if some illegality was present in the financial dealings

ComeOnYouOs wrote: ↑Sat Aug 24, 2019 12:42 pm I agree with spen ( blimey did I just say that?)...the police need to look at the 'goings on' over the last 9 months, because Dale seems as dodgy a character as can be, & I would not be surprised at all, if some illegality was present in the financial dealings

I don't rule out criminality but Company Law is drafted in such a way that unscrupulous operators can drive a coach and horses through it to their financial gain. This is especially true in the case of insolvency events.

Bolton are fulfilling their fixtures but at what cost and for how long? Today's match was watched by a record low crowd and they were thrashed 5-0 by Ipswich. Kevin Nolan has expressed his interest in the vacant managers job, at least the p**s ups will be memorable if he gets it.

EFL gives Bury Tuesday deadline for Campbell takeover to go through.

https://www.msn.com/en-gb/sport/english ... spartanntp

slacker wrote: ↑Sat Aug 24, 2019 9:17 am Alistair Campbell’s son involved! Wonder who’s funding the bid (which is subject to further due diligence)? Can’t believe his C&N Sporting Risk consultancy is awash with millions, though they have clearly some experience of sports and betting finance.

I hope Dale doesn’t come out this making money, but the dodgy playing of the distressed “assets” Administration game may well pay off for him. Even Hearn might blanche at that ruse. Capitalism at its very worst.

Quite, if Dale comes out quids in it sends exactly the wrong message to the vultures who gather round every struggling club

Bury FC: EFL may extend Tuesday deadline if sale almost complete.

https://www.bbc.co.uk/sport/football/49465036

I would be amazed if this game is televised...

Sunday 8th September 2019

Bolton Wanderers v Bury League One12:00 Sky Sports Football

spen666 wrote: ↑Sat Aug 24, 2019 9:27 am

slacker wrote: ↑Sat Aug 24, 2019 9:17 am ....
I hope Dale doesn’t come out this making money, but the dodgy playing of the distressed “assets” Administration game may well pay off for him. Even Hearn might blanche at that ruse. Capitalism at its very worst.

I would like to see policeor BEIS investigate Dale's dealings over Bury.

If there has not been criminal behaviour, then perhaps our laws need looking at and revising

Innocent until proven guilty, mate.

Proposition Joe wrote: ↑Mon Aug 26, 2019 11:44 am

spen666 wrote: ↑Sat Aug 24, 2019 9:27 am

slacker wrote: ↑Sat Aug 24, 2019 9:17 am ....
I hope Dale doesn’t come out this making money, but the dodgy playing of the distressed “assets” Administration game may well pay off for him. Even Hearn might blanche at that ruse. Capitalism at its very worst.

I would like to see policeor BEIS investigate Dale's dealings over Bury.

If there has not been criminal behaviour, then perhaps our laws need looking at and revising

Innocent until proven guilty, mate.

He never said anyone was guilty, just that the dealings do look strange and for clarity maybe the Police or BEIS could run an experienced eye over the dealings

dOh Nut wrote: ↑Sat Aug 24, 2019 10:49 am

Lucky7 wrote: ↑Sat Aug 24, 2019 6:26 am Hopefully there is light at the end of the tunnel for Bury

https://www.bbc.co.uk/sport/football/49455433

Really hope so. Bury deserve the right to continue as a league club.

Absolutely.

Bolton Wanderers' future under renewed threat after takeover deal collapses.

https://www.bbc.co.uk/sport/football/49470865

RedDwarf 1881 wrote: ↑Mon Aug 26, 2019 12:50 pm

dOh Nut wrote: ↑Sat Aug 24, 2019 10:49 am

Lucky7 wrote: ↑Sat Aug 24, 2019 6:26 am Hopefully there is light at the end of the tunnel for Bury

https://www.bbc.co.uk/sport/football/49455433

Really hope so. Bury deserve the right to continue as a league club.

Absolutely.

I'm going to chalenge that and here's why.

They spent money they couldn't afford and gained promotion by doing so and then used an insolvency device to write off 75% of the debt. They skewed the playing field and effectively cheated the other promotion candidates. Ok so they get a points penalty for the insolvency but the crime has been committed. What happened to the EFP financial fair play rules?

Proposition Joe wrote: ↑Mon Aug 26, 2019 11:44 am

spen666 wrote: ↑Sat Aug 24, 2019 9:27 am

slacker wrote: ↑Sat Aug 24, 2019 9:17 am ....
I hope Dale doesn’t come out this making money, but the dodgy playing of the distressed “assets” Administration game may well pay off for him. Even Hearn might blanche at that ruse. Capitalism at its very worst.

I would like to see policeor BEIS investigate Dale's dealings over Bury.

If there has not been criminal behaviour, then perhaps our laws need looking at and revising

Innocent until proven guilty, mate.

erm, that is why I said to investigate and why I said about the situation if there has been no criminal behaviour

I have never for one minute said that Dale or anyone has committed any offence. Merely there should be an investigation

What has happened to Bolton? Haven't followed the story at all.

Administrator allegedly dragging the sale out, complications over the sale of the Club being tied up with the onsite hotel, then a prospective owner (already previously banned from being Director of a football club and involved in failed takeovers elsewhere) took them to Court in a tantrum over not being chosen...now it looks like the former owner Anderson (or current? Not 100% certain how some aspects of Administration work) has scuppered the agreed deal at the last minute.

Be somewhat ironic if Bury survived and they didn't.

Background of it all
https://lionofviennasuite.sbnation.com/ ... or-villain

Not sure what to believe in that article though.

Looks like previous owner Davies wrote off £175m of loans

Got an outstanding £6k pasty bill apparently