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If you were the administrator


Valiant Haze

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There's £500,000 in unpaid shares out there that needs to be collected.

 

If I were Bob The Younger I'd be asking for an informed opinion from a criminal law solicitor with regard to the Fraud Act.

 

I think the vast majotity of shareholders, STs and fans would agree.

 

Go and get what we are owed Bob. :yes:

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Firstly, you are sadly no longer a Shareholder! The company no longer exists. Therefore are any contracts signed by the previous company valid any longer or is basically everything negotiable? I should imagine to get rid of players would not actually cost that much at the moment!

 

Or am I wrong?

 

I realise that I won't be a shareholder in the new company but I, unlike them, paid for my shares as did the rest of you. The promissory notes are surely assets of the old company. I would therefore expect the administrator to at least try to call the debt in in order to pay our creditors.

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I realise that I won't be a shareholder in the new company but I, unlike them, paid for my shares as did the rest of you. The promissory notes are surely assets of the old company. I would therefore expect the administrator to at least try to call the debt in in order to pay our creditors.

 

You are right in principle Zaza123. Wonder of You-I don't think what you are saying about company ceasing to exist is correct. Vale hasn't been liquidated the administrator has merely taken over the running of the company. All existing contractual obligations are still legally enforceable against company it's just that there probably isn't a lot of cash left to settle them. The idea is that the company will be sold as a going concern with new owners in place. That's the main difference between admin and liquidation. With regard to value of shares, I am afraid they will be probably worthless as all other debts will be settled first and by then there is usually nothing or next to nothing left.

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You are right in principle Zaza123. Wonder of You-I don't think what you are saying about company ceasing to exist is correct. Vale hasn't been liquidated the administrator has merely taken over the running of the company. All existing contractual obligations are still legally enforceable against company it's just that there probably isn't a lot of cash left to settle them. The idea is that the company will be sold as a going concern with new owners in place. That's the main difference between admin and liquidation. With regard to value of shares, I am afraid they will be probably worthless as all other debts will be settled first and by then there is usually nothing or next to nothing left.

 

Realistically, I never expected a return on my shares and I am happy to lose them if it means a brighter future for the club. I, however, don't see why the people with the Lion's share (sorry) should get away with not losing their money too. They did, after all, use their shares to vote each other and themselves onto the board where they enjoyed matchday perks, hospitality, cars, accommodation and status all at the expense of our dying club.

 

I would ideally like to see them swinging from a lamp post but would begrudgingly settle for seeing them homeless and bankrupt.

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I think the coaching staff is where the savings are, along with releasing players who have made less than say 15 first team games this season.

 

Id also release 1 of 3 keepers, and on yesterdays showing id be starting with Sam Johnson in goal as Tommo once again this season cost us goals.

 

Deakins personal army i would make redundant

 

Lodey - whys he still here?

 

Then i would pay the players what they are due seeing as the council have provided the money for this very purpose!!

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