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beorhthelm

A. Virgo, Football Genius
Jul 21, 2003
36,015
i'm confused. i read a week or two ago the council where considering a bid and were, regardless of that, providing the club with the Rioch rent free for 3 years. or something. even if on paper the administrator thought another bidder was better (leave aside obvious shenanigans), why would any owner not take up that offer ???
 












portlock seagull

Well-known member
Jul 28, 2003
17,777
Done
 






Richard Tiltmans Shin Pad

Rustingtons' Mr Guiness
Jan 10, 2012
309
North Stand, Row Q
Done.
 












Blue Valkyrie

Not seen such Bravery!
Sep 1, 2012
32,165
Valhalla
I sign very, very few petitions but this is one that I sign with no hesitation.
 




Blue Valkyrie

Not seen such Bravery!
Sep 1, 2012
32,165
Valhalla
This is the part I struggle with.

1. Take over a company with huge debts, at a good price.
2. Put it into administration, wiping out a massive % of said debts.
3. Appoint your own pet administrator, who then confers preferred bidder status to your 'new company' under a different name, ignoring all other bids.
4. Buy back company and all its assets, completely debt free, for peanuts.

How the HELL can that be legal? It makes no sense at all.

If fraud could be proved, and anyone is interested in making a case, then of course it would be ilegal. Anyone doing this would probably be wise not to have HMRC as a creditor I would think.
 




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