| tomorrow can't come quick enough 14:17 - Oct 16 with 2264719 views | batman |
Not for us, but for Bury.
i was credit checking a potential customer and decided to nosey onto
BFC's file and was (or maybe not) supprised to see a new CCJ for circa £22k lodged
only Wednesday this week.
looks like they are in need of a bumper crowd tomorrow to settle some bills |  | | |  |
| tomorrow can't come quick enough on 22:43 - Jul 8 with 5635 views | James1980 |
He comes from the right side of Heywood but surely Bill Oddie should take pity on the plight of the endangered species that is the lesser spotted bucket. | |
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| tomorrow can't come quick enough on 22:50 - Jul 8 with 5614 views | JumeirahDale |
| tomorrow can't come quick enough on 22:13 - Jul 8 by TVOS1907 |
… and The Nevilles. |
Based on the CVA list, looks like SD1 had them do a runner from the Neville's hotel at some point recently, leaving a few grand unpaid. Nothing like biting the hand that (might) feed you... |  | | |
| tomorrow can't come quick enough on 05:10 - Jul 9 with 5422 views | RAFCBLUE |
| tomorrow can't come quick enough on 19:20 - Jul 8 by Cleedale |
OK, so as the dreaded??!! day approacheth can we each throw in our own two-penneth as to outcome.
From my reading between the lines and some highly informative posts I'm going for a temporary...damp squib.
Dale's proposal accepted (or already has been) and the ground (somehow) gets rented back so that bury start the season in some shape or form. Certain debts get paid (or are promised to be paid) and therefore everything continues much as before; for the time being.
Any more out there? |
This saga ends with Steve Dale getting control of the ground.
The initial investment is £1 and the CVA magically finds £1 million of his cash (£875k after fees)available to pay off the unsecured creditors at 25p in the £.
That clears out three parties legally - HMRC, Trade Creditors and the pension deficit.
Net cost to him after that is £1,000,001.
Post CVA, bury have debts of £4.6m, £950,662 to football creditors and £3.6m to Steve Dale.
There is a promise to then pay all football creditors which will take the net cost to £1,950,663.
For Dale it then becomes the game of :
Value of Gigg Lane
Minus Finance owed to Capital Bridge
Minus Net Cost of investment of £1,950,663
= Profit for Steve Dale
That cost of investment already has to be lower that £1,950,663 because you can knock off whatever Dale received for selling Ryan Lowe to Plymouth plus other monies received.
It’s a firesale but a strategic and profitable one. |  |
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| tomorrow can't come quick enough on 07:53 - Jul 9 with 5268 views | aleanddale |
| tomorrow can't come quick enough on 05:10 - Jul 9 by RAFCBLUE |
This saga ends with Steve Dale getting control of the ground.
The initial investment is £1 and the CVA magically finds £1 million of his cash (£875k after fees)available to pay off the unsecured creditors at 25p in the £.
That clears out three parties legally - HMRC, Trade Creditors and the pension deficit.
Net cost to him after that is £1,000,001.
Post CVA, bury have debts of £4.6m, £950,662 to football creditors and £3.6m to Steve Dale.
There is a promise to then pay all football creditors which will take the net cost to £1,950,663.
For Dale it then becomes the game of :
Value of Gigg Lane
Minus Finance owed to Capital Bridge
Minus Net Cost of investment of £1,950,663
= Profit for Steve Dale
That cost of investment already has to be lower that £1,950,663 because you can knock off whatever Dale received for selling Ryan Lowe to Plymouth plus other monies received.
It’s a firesale but a strategic and profitable one. |
Cheers RAFCBLUE your posts are informative and usually very close to the mark.
So short mid term what does SD2 do? To maximise his return?
Keep Gigg - sell the club and rent back to new owners forever?
Sell the lot to the highest bidder?
Keep everything and wring the bury F.C. cash sponge all season with some bumper pay days from larger league 1 away followings?
Whilst SD2 remains at Giggle the circus continues with SD2 the ringmaster.
Interesting day today to see how this plays out. | | | |
| tomorrow can't come quick enough on 08:38 - Jul 9 with 5187 views | BigKindo |
| tomorrow can't come quick enough on 05:10 - Jul 9 by RAFCBLUE |
This saga ends with Steve Dale getting control of the ground.
The initial investment is £1 and the CVA magically finds £1 million of his cash (£875k after fees)available to pay off the unsecured creditors at 25p in the £.
That clears out three parties legally - HMRC, Trade Creditors and the pension deficit.
Net cost to him after that is £1,000,001.
Post CVA, bury have debts of £4.6m, £950,662 to football creditors and £3.6m to Steve Dale.
There is a promise to then pay all football creditors which will take the net cost to £1,950,663.
For Dale it then becomes the game of :
Value of Gigg Lane
Minus Finance owed to Capital Bridge
Minus Net Cost of investment of £1,950,663
= Profit for Steve Dale
That cost of investment already has to be lower that £1,950,663 because you can knock off whatever Dale received for selling Ryan Lowe to Plymouth plus other monies received.
It’s a firesale but a strategic and profitable one. |
Where does the indebtedness to Mederco appear in this summation? I would have thought that their administrators would have been calculating and presenting a claim for the substantial monies apparently loaned to BFC. |  | | |
| tomorrow can't come quick enough on 08:45 - Jul 9 with 5154 views | SuddenLad |
| tomorrow can't come quick enough on 08:38 - Jul 9 by BigKindo |
Where does the indebtedness to Mederco appear in this summation? I would have thought that their administrators would have been calculating and presenting a claim for the substantial monies apparently loaned to BFC. |
I think they were listed as 'unascertained'. Quite how they proceed with such a massive unknown debt, I don't know. Sooner or later it will have to be reckoned with.
I'll be amazed if there isn't a major enquiry into what went on there, whether it be money laundering or simple fraud. Something was/is very wrong in the way that the finances at Giggle Lane were handled. |  |
| “It is easier to fool people, than to convince them that they have been fooled†|
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| tomorrow can't come quick enough on 09:17 - Jul 9 with 5082 views | dingdangblue |
| tomorrow can't come quick enough on 05:10 - Jul 9 by RAFCBLUE |
This saga ends with Steve Dale getting control of the ground.
The initial investment is £1 and the CVA magically finds £1 million of his cash (£875k after fees)available to pay off the unsecured creditors at 25p in the £.
That clears out three parties legally - HMRC, Trade Creditors and the pension deficit.
Net cost to him after that is £1,000,001.
Post CVA, bury have debts of £4.6m, £950,662 to football creditors and £3.6m to Steve Dale.
There is a promise to then pay all football creditors which will take the net cost to £1,950,663.
For Dale it then becomes the game of :
Value of Gigg Lane
Minus Finance owed to Capital Bridge
Minus Net Cost of investment of £1,950,663
= Profit for Steve Dale
That cost of investment already has to be lower that £1,950,663 because you can knock off whatever Dale received for selling Ryan Lowe to Plymouth plus other monies received.
It’s a firesale but a strategic and profitable one. |
Has it been revealed yet how Dale owns bury fc but they owe him £3.6 million pounds? Doesn't that just mean he owes himself £3.6 million pounds? |  |
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| tomorrow can't come quick enough on 09:48 - Jul 9 with 5006 views | James1980 |
| tomorrow can't come quick enough on 18:13 - Jul 4 by James1980 |
"We know where it comes from. Day capitalised a loan into shares before he left, with Dale getting the shares. Dale is claiming that the loan is till outstanding. It's double counting."
Think this refers to SD2's mystery £3.6 million.
Is the comment correct? |
Is this a reasonable explanation regarding Dale's mystery millions? | |
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| tomorrow can't come quick enough on 10:12 - Jul 9 with 4943 views | dingdangblue |
| tomorrow can't come quick enough on 09:48 - Jul 9 by James1980 |
Is this a reasonable explanation regarding Dale's mystery millions? |
Yes but surely anything Day did was bent? This £3.6 million supposedly 'owed' to Dale is nonsense. | |
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| tomorrow can't come quick enough on 11:14 - Jul 9 with 4804 views | James1980 |
| tomorrow can't come quick enough on 10:12 - Jul 9 by dingdangblue |
Yes but surely anything Day did was bent? This £3.6 million supposedly 'owed' to Dale is nonsense. |
Surely someone will call shenanigans regarding the nonsense debt to SD2 | |
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| tomorrow can't come quick enough on 11:33 - Jul 9 with 4743 views | EllDale |
I don't know if anyone else noticed but another apparent rogue has been exposed on ITV news and in the Guardian in the last few days.
The chap in question is connected to companies called MBI and Northern Powerhouse and took money off investors as they were meant to be building care homes over the north of England, one of which is in Smithy Bridge.
No building has started yet though....
MBI have the naming rights for the Shay and Northern Powerhouse are the shirt sponsors of both Halifax Town and Halifax RLFC. All are owed for this sponsorship which allegedly hasn't been paid and probably won't be now leaving a gaping hole in their budgets.
How do they get away with it? | | | |
| tomorrow can't come quick enough on 11:50 - Jul 9 with 4691 views | leedsdale |
Surprise surprise
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| tomorrow can't come quick enough on 11:57 - Jul 9 with 4646 views | EllDale |
16 days before the start of the season.
And with another month's wages due at the end of the month for all those who have been training. | | | |
| (No subject) (n/t) on 12:16 - Jul 9 with 4565 views | dingdangblue |
| tomorrow can't come quick enough on 11:57 - Jul 9 by EllDale |
16 days before the start of the season.
And with another month's wages due at the end of the month for all those who have been training. |
Is there any way they will be ready to stage a League 1 home game at Gigg Lane on Saturday 3rd August? [Post edited 9 Jul 2019 12:19]
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| tomorrow can't come quick enough on 13:42 - Jul 9 with 4349 views | fermin |
| tomorrow can't come quick enough on 10:12 - Jul 9 by dingdangblue |
Yes but surely anything Day did was bent? This £3.6 million supposedly 'owed' to Dale is nonsense. |
Reminds me a bit of Stephen Vaughan's £11,000 a week laundry bill at Chester. It's referenced on the Chester forum, where rather similar to Bury you can find the usual apologists for the man in charge whatever he has been shown to have done:
http://www.devachat.com/index.php?showtopic=57124&st=50 |  | | |
| tomorrow can't come quick enough on 13:52 - Jul 9 with 4320 views | kel |
| tomorrow can't come quick enough on 13:42 - Jul 9 by fermin |
Reminds me a bit of Stephen Vaughan's £11,000 a week laundry bill at Chester. It's referenced on the Chester forum, where rather similar to Bury you can find the usual apologists for the man in charge whatever he has been shown to have done:
http://www.devachat.com/index.php?showtopic=57124&st=50 |
Frighteningly similar to pdiddy and his #MrDay worship.
#middleagedbrowntongue |  | | |
| tomorrow can't come quick enough on 15:06 - Jul 9 with 4171 views | SuddenLad |
Mederco have now put in a late claim for £7 million that they are owed. The total calculable debt now stands at as much as £16 million.
HMRC refused the offer made to them, case adjourned for a resolution to be sought. If no buyer with the next 9 days, liquidation is very likely.
[Post edited 9 Jul 2019 15:22]
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| “It is easier to fool people, than to convince them that they have been fooled†|
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| tomorrow can't come quick enough on 15:11 - Jul 9 with 4148 views | BigKindo |
| tomorrow can't come quick enough on 15:06 - Jul 9 by SuddenLad |
Mederco have now put in a late claim for £7 million that they are owed. The total calculable debt now stands at as much as £16 million.
HMRC refused the offer made to them, case adjourned for a resolution to be sought. If no buyer with the next 9 days, liquidation is very likely.
[Post edited 9 Jul 2019 15:22]
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Link not working and I have no wish to enrol. If British Airways can lose your data ........................... etc. | | | |
| tomorrow can't come quick enough on 15:26 - Jul 9 with 4094 views | DaleiLama |
| tomorrow can't come quick enough on 15:11 - Jul 9 by BigKindo |
Link not working and I have no wish to enrol. If British Airways can lose your data ........................... etc. |
No need to use any of your real data on most sites BK. Set your first name to Big and last to Kindo and I would imagine bigkindo@gmail.com or @yahoo.com or @hotmail.co.uk is available as an e-mail addy to verify (if necessary) and you're good to go. If none of that makes sense get your grandkids onto it! |  |
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| tomorrow can't come quick enough on 15:33 - Jul 9 with 4060 views | BigKindo |
| tomorrow can't come quick enough on 15:26 - Jul 9 by DaleiLama |
No need to use any of your real data on most sites BK. Set your first name to Big and last to Kindo and I would imagine bigkindo@gmail.com or @yahoo.com or @hotmail.co.uk is available as an e-mail addy to verify (if necessary) and you're good to go. If none of that makes sense get your grandkids onto it! |
How come you know all of my email addresses. 
Cannot be ar++ed to register with Bury. According to the fans twitter feed Mederco want £ 8 million. | | | |
| tomorrow can't come quick enough on 15:40 - Jul 9 with 4029 views | SuddenLad |
| tomorrow can't come quick enough on 15:33 - Jul 9 by BigKindo |
How come you know all of my email addresses.
Cannot be ar++ed to register with Bury. According to the fans twitter feed Mederco want £ 8 million. |
Correct. That £7 million now has been added to the total debt, making it £16 million and with 9 days (or a possible legal maximum of 14) to sort it all out !!. Any variation/addition to the CVA which was submitted today, will mean that the process starts all over again.
'Buyer or Bust' seems to be the popular phrase at the moment. Very few Gigglers think they will come through it.
9 days and counting....... | |
| “It is easier to fool people, than to convince them that they have been fooled†|
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| tomorrow can't come quick enough on 15:43 - Jul 9 with 4011 views | BigKindo |
| tomorrow can't come quick enough on 15:40 - Jul 9 by SuddenLad |
Correct. That £7 million now has been added to the total debt, making it £16 million and with 9 days (or a possible legal maximum of 14) to sort it all out !!. Any variation/addition to the CVA which was submitted today, will mean that the process starts all over again.
'Buyer or Bust' seems to be the popular phrase at the moment. Very few Gigglers think they will come through it.
9 days and counting....... |
......... and a suggestion that they may have to lodge a £ 750k bond with the EFL before the start of next season . | | | |
| tomorrow can't come quick enough on 15:52 - Jul 9 with 3987 views | SuddenLad |
| tomorrow can't come quick enough on 15:43 - Jul 9 by BigKindo |
......... and a suggestion that they may have to lodge a £ 750k bond with the EFL before the start of next season . |
They WILL have to lodge it. It will be a non-negotiable condition of their continued EFL membership.
Whether the EFL agree to deduct that amount from any payments due to Bury as a substitue for a payment, remains to be seen, but one way or another, they will have to find that amount. | |
| “It is easier to fool people, than to convince them that they have been fooled†|
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| tomorrow can't come quick enough on 16:10 - Jul 9 with 3921 views | EllDale |
There are a few more I'd ask for a similar bond as well to be fair.
Bolton and Macclesfield to name but two.
Perhaps even Owldum. | | | |
| tomorrow can't come quick enough on 18:08 - Jul 9 with 3652 views | Shun |
Scary
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