Clubs that prosper soon after administration..

[Sainsburys3tescos1]

How are Leicester city being forgotten about?
Do you all want a gin with you bitter lemon?

 

[El Presidente]

Poyet confirmed last week that we could only offer 50% of Murray's wages from Palace.

We CHOSE to offer Murray less money, that is the club's right and privilege, but it has come back to bite them on the bum. As for paying excessive wages, our wages bill was 101% of turnover in our last set of accounts, so we are not in a position to come over too high and mighty.

It will be interesting to see the wage bill for both the Albion and Palace for last season, and as soon as the accounts are published I will stick them on NSC.

 

[Thunder Bolt]

We CHOSE to offer Murray less money, that is the club's right and privilege, but it has come back to bite them on the bum. As for paying excessive wages, our wages bill was 101% of turnover in our last set of accounts, so we are not in a position to come over too high and mighty.

It will be interesting to see the wage bill for both the Albion and Palace for last season, and as soon as the accounts are published I will stick them on NSC.

As I said, we offered to double his wages. I don't know if he came back and told us that he was getting offered more up the road or if he just walked. Did he give us a chance to up it? Who knows?

 

[El Presidente]

Who knows?

Gus, Glenn and TB!

 

[Thunder Bolt]

Gus, Glenn and TB!

Maybe Ken Brown at the time which is why emotive words like gifting and mistake are maybe wide of the mark. It is also well known that Murray was desperately short of cash needed for his settlement with his northern partner. The fact that some Brighton fans were unforgiving of his emotional state at the time of his break up, wouldn't exactly have endeared him to us either. It's far easier to blame Poyet.

 

[00snook]

So all of the gloating over the years about our club living within its means while your lot screwed its creditors twice in short succession is shit is it? You tossers come on here regularly reminding us that you have been in the top two divisions for 35 years but not one of you acknowledge the fact that you maintained that level of football by screwing local businesses, local charities and other creditors. Not once but twice. Don't think you have the moral high ground because you currently are in first place because you f***ing don't have any morals. If you don't like being reminded of your club's financial wrong doings that kept you above us all of those years you can always f*** off from here.

Very well said.

 

[Hillian1]

My understanding is that Palace under administration paid off all the creditors in FULL...this was achieved by various cost cutting activities including bonfire sales of players that we didn't want to sell (i.e. Victor Moses for peanuts). Palace well and truly suffered as a result of Jordan's mismanagement, we almost went down after being deducted 10 points, and for the last few years have had to rebuild the club and operate on a very tight budget. We haven't gone to the dogs because of sound management by the new owners (for once) and Freedman...plus the academy is producing young players worth millions which has saved our backsides.

So my point is, why should have Palace be punished any further?

You are Seaside and I claim the £200 you owe to REMF.

Or you're a cretin.

 

[El Presidente]

You are Seaside and I claim the £200 you owe to REMF.

Or you're a cretin.

When any company enters administration the administrators will pay off the debts run up DURING the administration period in full. However, the debts that caused the club to enter administration will not be paid off to that extent.

 

[seagullsovergrimsby]

What percentage was it. Are we talking about 80% or 1%. I can see how an informal agreement would not be looked kindly on by an insolvency practice - but it seems quite sensible. And the creditors did not have to agree did they ?

At the time this occurred there wasn't an option for a football club to go into administration. The Inland Revenue were very keen on issuing winding up orders against the club. The creditors knew that if the club went bust for not being able to settle the outstanding PAYE and NI demands they would get nothing. We were selling players to pay the bills. If we had lost at Hereford 15 years ago the club would have folded before the start of the following season.

 

[Sainsburys3tescos1]

Meanwhile, their gloating trolls are never slow in telling us that they've never been out of the top 2 divisions in 35 years. We even had one of their fans telling us that he was shitting himself for 4 Months. 4 frigging months. Meanwhile, we were languishing around the arse end of football with no home for 14 years, no planning approval, massive rents for Withdean, a first team training ground that is akin to a Sunday League Div 10 pitch (or it was), having to sell everything of value.

Is it any wonder most get annoyed with the trolls?

As for Portsmouth 'slumming it' in the 3rd division, after what that club has done over the years they're damn lucky to be in existence at all. Or did you miss their fans wanting them to spend even more money that they didn't have in hope of making the playoffs?

We know The Albion isn't whiter than white financially but the payments were significantly more than 2p in the pound, we didn't screw the taxman and we really suffered as a club. All a bit different to 'fighting relegation for a couple of years'.

Personally Mr self righteous I think you lot should of been wound up the day you lost your ground .
No club should be allowed to move from their spiritual home to another county(Kent).
That's not what footballs about is it ?
Unless said ground is being refurbished, which your Goldstone most definitely was not.
BHA seeker of truth and justice.

- - - Updated - - -

Meanwhile, their gloating trolls are never slow in telling us that they've never been out of the top 2 divisions in 35 years. We even had one of their fans telling us that he was shitting himself for 4 Months. 4 frigging months. Meanwhile, we were languishing around the arse end of football with no home for 14 years, no planning approval, massive rents for Withdean, a first team training ground that is akin to a Sunday League Div 10 pitch (or it was), having to sell everything of value.

Is it any wonder most get annoyed with the trolls?

As for Portsmouth 'slumming it' in the 3rd division, after what that club has done over the years they're damn lucky to be in existence at all. Or did you miss their fans wanting them to spend even more money that they didn't have in hope of making the playoffs?

We know The Albion isn't whiter than white financially but the payments were significantly more than 2p in the pound, we didn't screw the taxman and we really suffered as a club. All a bit different to 'fighting relegation for a couple of years'.

Personally Mr self righteous I think you lot should of been wound up the day you lost your ground .
No club should be allowed to move from their spiritual home to another county(Kent).
That's not what footballs about is it ?
Unless said ground is being refurbished, which your Goldstone most definitely was not.
BHA seeker of truth and justice.

 

[BensGrandad]

My understanding is that Palace under administration paid off all the creditors in FULL...this was achieved by various cost cutting activities including bonfire sales of players that we didn't want to sell (i.e. Victor Moses for peanuts). Palace well and truly suffered as a result of Jordan's mismanagement, we almost went down after being deducted 10 points, and for the last few years have had to rebuild the club and operate on a very tight budget. We haven't gone to the dogs because of sound management by the new owners (for once) and Freedman...plus the academy is producing young players worth millions which has saved our backsides.

So my point is, why should have Palace be punished any further?

If that was the case do you not think that it would have received immense publicity not least from Parrish, has it ever been mentioned not at all.

 

[El Presidente]

At the time this occurred there wasn't an option for a football club to go into administration. The Inland Revenue were very keen on issuing winding up orders against the club. The creditors knew that if the club went bust for not being able to settle the outstanding PAYE and NI demands they would get nothing. We were selling players to pay the bills. If we had lost at Hereford 15 years ago the club would have folded before the start of the following season.

I think that is partially correct, HMRC used to have preferred creditor status, which it lost in the Insolvency Act 2000. Howard Wilkinson SAVED the Albion in 1993 when he agreed to pay £650,000 CASH for Mark Beeney, it is the ONLY good thing to have come from DIRTY LEEDS in all my time supporting the Albion.

 

[seagullsovergrimsby]

it is the ONLY good thing to have come from DIRTY LEEDS in all my time supporting the Albion.

Terry Connor ? I wont mention Casper Ankergren

 

[Bwian]

Personally Mr self righteous I think you lot should of been wound up the day you lost your ground .
No club should be allowed to move from their spiritual home to another county(Kent).
That's not what footballs about is it ?
Unless said ground is being refurbished, which your Goldstone most definitely was not.
BHA seeker of truth and justice.

- - - Updated - - -



Personally Mr self righteous I think you lot should of been wound up the day you lost your ground .
No club should be allowed to move from their spiritual home to another county(Kent).
That's not what footballs about is it ?
Unless said ground is being refurbished, which your Goldstone most definitely was not.
BHA seeker of truth and justice.

You wait all day for a troll and the dimwit appears.

- - - Updated - - -

Personally Mr self righteous I think you lot should of been wound up the day you lost your ground .
No club should be allowed to move from their spiritual home to another county(Kent).
That's not what footballs about is it ?
Unless said ground is being refurbished, which your Goldstone most definitely was not.
BHA seeker of truth and justice.

- - - Updated - - -



Personally Mr self righteous I think you lot should of been wound up the day you lost your ground .
No club should be allowed to move from their spiritual home to another county(Kent).
That's not what footballs about is it ?
Unless said ground is being refurbished, which your Goldstone most definitely was not.
BHA seeker of truth and justice.

You wait all day for a troll and the dimwit appears.

 

[BensGrandad]

Simple question why do HMRC have preferential status with all business but not football clubs? I know it is an FA or FL rule but how can they circumvent the law of the land.

why are these posts coming up 2 or 3 times when posted so have to be edited.

 

[seagullsovergrimsby]

You wait all day for a troll and the dimwit appears.

You wait all day for a Palace troll and all of a sudden 20 of them turn up on NSC

 

[El Presidente]

Simple question why do HMRC have preferential status with all business but not football clubs? I know it is an FA or FL rule but how can they circumvent the law of the land.

why are these posts coming up 2 or 3 times when posted so have to be edited.

HMRC no longer have preferential status following the Insolvency Act 2000. The reason why they are being more aggressive than in the past is because their return is so much lower as an unsecured creditor.

 

[BensGrandad]

Is that for all businesses as I knew many publicans who entered IVAs and HMRC were always the ones to put up resistance due to their power and invariably being he largest creditor in terms of debt.

 

[Thunder Bolt]

HMRC no longer have preferential status following the Insolvency Act 2000. The reason why they are being more aggressive than in the past is because their return is so much lower as an unsecured creditor.

I can't remember the details but isn't the preferential creditor the one who is owed 40% of the debt. Somehow Pompey managed to find another creditor to bring in so that HMRC weren't the biggest creditor? I know that sounds clumsy, but I'm sure the administration found a way around it.

 

[El Presidente]

Is that for all businesses as I knew many publicans who entered IVAs and HMRC were always the ones to put up resistance due to their power and invariably being he largest creditor in terms of debt.

Yes, for all businesses.

HMRC tend to oppose a lot of deals when they suspect the company or individual is using a pre-pack arrangement to weasel out of its debts, and is using HMRC as a form of interest free finance. .