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Can we have some caution pls

Vale

By Vale
in Port Vale present

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Vale Newbie

Vale

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Bratt to get away scott free?

 

Not anything to do with the thread but all former and current directors could possibly be pursued by an administrator if he thought it were culpable and it was required.

 

The city council will continue to explore any avenue available that could result in them not having to fund the administration process, but at least we have a cushion of protection from the winding-up petition now.

 

When it was served we were wide open and at a very real risk of liquidation with the directors of the company unable to place us in to administration as protection.

 

This could drag on for a number of days yet.

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Phil Enthusiast

Phil

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Ben

Senior Member

Join Date: Nov 2004

Posts: 1,838 Quote:

Originally Posted by Vale

This deal is not done yet, far from it.

 

Oliver Lloyd and Deakin are still in control.

 

All that has happened is the council have agreed in principal and no more votes are required. There are more hoops to be jumped through, more I's to be dotted and T's to be crossed.

 

Anything can happen until those papers are filed in the court and until they are Lloyd, Oliver and Deakin are still in control and any discussion about them gone is premature

 

So what more damage could they do once we are actualy in Administration?

 

None once we are in it, but Vale was just pointing out that we aren't in admin yet, all the council have said is that they are going to put us into admin. Until that happens, the three stooges are still in charge, but can't sell shares or anything like that because there are only 3 of them.

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PGTips Newbie

PGTips

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Caution is definately the word to use .

A major concern for me is once someone independent actually gets into the Club what the hell else they will find !!

We may not just end up with a 10 point deduction it could be a lot worse and then who's going to be interested in putting the kind of money in that will be required .

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superswanny Newbie

superswanny

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This deal is not done yet, far from it.

 

Oliver Lloyd and Deakin are still in control.

 

All that has happened is the council have agreed in principal and no more votes are required. There are more hoops to be jumped through, more I's to be dotted and T's to be crossed.

 

Anything can happen until those papers are filed in the court and until they are Lloyd, Oliver and Deakin are still in control and any discussion about them gone is premature :(

 

I was informed that going into Admin with out a full board of directos is different than doing it with. In that without a full board certain articles / documents on the club do not have to be shown to the administrator. I dont belive this myself, but was that the reason Miller resigned at the weekend? Still trying to cover thier tracks??

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Vale Newbie

Vale

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cheers for the update.."vale".I trust in everything the SC are doing.and thanks for all the hard work. just a quick question...im assume the interim board are out of the plan due to admin,or are they going be involved while in admin??

 

They are out of the equation as soon as we enter admin. Right now they are still on stand by because who knows what can happen with this can of worms. If they were to suddenly come up with a rescue package, money up front and another director it'd be action stations again.

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SuperValiant1876 Newbie

SuperValiant1876

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This deal is not done yet, far from it.

 

Oliver Lloyd and Deakin are still in control.

 

All that has happened is the council have agreed in principal and no more votes are required. There are more hoops to be jumped through, more I's to be dotted and T's to be crossed.

 

Anything can happen until those papers are filed in the court and until they are Lloyd, Oliver and Deakin are still in control and any discussion about them gone is premature :(

 

Deakin is gone, he basically told me that himself! He said he feels proud to have kept Vale going for as long as he could....

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Caroline Oakes Apprentice

Caroline Oakes

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They are out of the equation as soon as we enter admin. Right now they are still on stand by because who knows what can happen with this can of worms. If they were to suddenly come up with a rescue package, money up front and another director it'd be action stations again.

 

And the council would fall for it?

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cheeky Explorer

cheeky

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Deakin is gone, he basically told me that himself! He said he feels proud to have kept Vale going for as long as he could....

 

He told me the same about feeling proud. I had some quite long texts off him last night explaining how well they had done to keep the club afloat for so long, blaming the fans, the previous regime/chairman and all sorts. He only went quiet when I mentioned the nil paid shares and him being personally liable for the £150k.

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Valiant Haze Newbie

Valiant Haze

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He told me the same about feeling proud. I had some quite long texts off him last night explaining how well they had done to keep the club afloat for so long, blaming the fans, the previous regime/chairman and all sorts. He only went quiet when I mentioned the nil paid shares and him being personally liable for the £150k.

 

I would personally like to "thank" him for his work.... Is it possible for a meet?

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