Isn't part of the point of administration that you get protection from creditors? That'd mean no winding-up orders allowed.
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Isn't part of the point of administration that you get protection from creditors? That'd mean no winding-up orders allowed.
Absolutely yeah, but if it's only happening today I'd have thought Dungannon would have had time to get their spoke in first.
All creditors form an orderly queue, liquidator at the front, HMRC next, any preferential next, then the other poor buggers.
Oh and by the way, the only assets are contingent.
That is all.....
Does Derry City FC count as an asset, will that be sold to the new setup?, or how does that bit work?
I should've said contingent and intangible.Quote:
Originally Posted by Mr A
I think what you've asked is the million dollar question. Its really a question for the liquidator to get the best value for all assets to try and make good the creditors as best possible.
Surely the name is only of nominal - say £100 - value?
Depends how much the liquidator reckons he can get for it and how quick the successor club needs it (adding in the IFA complexity).Quote:
Originally Posted by pineapple stu
a points deduction must happen
If I was Finn harps I'd be trying to buy the name.Quote:
Originally Posted by OneRedArmy
I'd say if you have 3 or 4 people wanting to be the next DCFC chairman with a bit of money in their pockets, they may get quite a bit for it.Quote:
Originally Posted by pineapple stu
Aye, we could offer 100k for it. It's not like you actually have to settle debts these days :)Quote:
Originally Posted by Dodge
:DQuote:
Originally Posted by pineapple stu
Did you mean that?
http://www.derryjournal.com/derry-sp...ive.5844191.jpQuote:
Originally Posted by Steve Bruce
I think this answers that particular question
No offence chief, you haven't a clue.Quote:
Originally Posted by Steve Bruce
Yup.Quote:
Originally Posted by A N Mouse
Feel free to offer counter arguments.
There's no reason why the fee couldn't be nominal. Could even be a quid for all we know. Just depends what the liquidator feels they can get for it.Quote:
Originally Posted by A N Mouse
WOOSHQuote:
Originally Posted by pineapple stu
seems you didn't :p
http://www.google.co.uk/search?q=define%3A+nominal
What?
A Liquidator isn't charged with trying to sort out DCFC supporters.
He's there to get the largest amount of money from the available assets to satisfy the creditors. The name is one of the few decent assets a club who doesn't own it's own ground has, the liquidator will try to squeeze a nice sum out of it.
None of us is the liquidator, so lets leave the conjecture as to what the intangible and contingent assets are worth.
If I was the liquidator I'd worry first about whether there was enough there to pay my fees!