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tomorrow can't come quick enough 14:17 - Oct 16 with 1054381 viewsbatman

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
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tomorrow can't come quick enough on 03:55 - Sep 8 with 4155 viewsCleedale

tomorrow can't come quick enough on 20:56 - Sep 7 by Thacks_Rabbits

My view on it cleedale, not as a lawyer but as someone who has worked in financial services for years is this, will keep it brief as my Mrs is getting fed up of me spending more time on here than on her!!!

Dale basically bought bURY via a limited company for a quid, and also set up a couple of subsidies for various parts of bURY fc, and assets were transferred, all of that is legal, but the key thing is Dale is not personally liable for any debt, the company is, so in essence he has paid a quid on a punt, knowing the worst that can happen, as long as he does everything legally is he loses a quid!

The assets in bURY, assuming merdeco debt is real (I think it is) are way below the net value of the borrowing on the club and property, even if the merdeco debt is not real borrowing probably is above asset value, hence the club is worthless and uninvestable, so they then go for cva to reduce debt overall.

That goes through fine, as somehow the 7.1 million merdeco debt was sold to SD2’s daughters boyfriend, and that’s the bit where it will get messy. That would normally mean the merdeco insolvency guy approved the sale of above debt for a penny in the pound, meaning the debt was so toxic nobody would touch it, but it gave the new owner of the debt the right to vote on accepting the cva, the majority vote, which means they receive 25p in the pound after all secured and football creditors are paid off. So if Gigg is worth 5 million, secured creditors owed 2 million and even if unsecured amounts to 12 million, 7/12ths of what remain go to days daughters boyfriend, add in SD2 debts owed, he won’t do bad for his quid.

I don’t know any of this is fact but I can’t see anything illegal SD2 has done, he is too smart. I would question why someone would buy a debt at 1p in the pound, unless they knew it would come good, that’s where the real question lays, with the purchaser and the person that signed off the sale of the debt!

Either way bURY are fooked, can’t make Dale sell and he does not want to, as his son laughed ages ago, why would we want to sell!!!!
[Post edited 7 Sep 21:17]


Many thanks Thacks, that appears much clearer - will have another read later for it to sink in.

Sure you'll have been asked before but is Thacks_Rabbit anything to do with Andy Thackeray? (Also not a legal question)!!

Seem to remember him scoring a great volley against bURY once from outside the box but can't remember whether that was towards the old Pearl Street end or at Gigg.
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tomorrow can't come quick enough on 05:54 - Sep 8 with 4105 viewsAlexF

tomorrow can't come quick enough on 20:56 - Sep 7 by Thacks_Rabbits

My view on it cleedale, not as a lawyer but as someone who has worked in financial services for years is this, will keep it brief as my Mrs is getting fed up of me spending more time on here than on her!!!

Dale basically bought bURY via a limited company for a quid, and also set up a couple of subsidies for various parts of bURY fc, and assets were transferred, all of that is legal, but the key thing is Dale is not personally liable for any debt, the company is, so in essence he has paid a quid on a punt, knowing the worst that can happen, as long as he does everything legally is he loses a quid!

The assets in bURY, assuming merdeco debt is real (I think it is) are way below the net value of the borrowing on the club and property, even if the merdeco debt is not real borrowing probably is above asset value, hence the club is worthless and uninvestable, so they then go for cva to reduce debt overall.

That goes through fine, as somehow the 7.1 million merdeco debt was sold to SD2’s daughters boyfriend, and that’s the bit where it will get messy. That would normally mean the merdeco insolvency guy approved the sale of above debt for a penny in the pound, meaning the debt was so toxic nobody would touch it, but it gave the new owner of the debt the right to vote on accepting the cva, the majority vote, which means they receive 25p in the pound after all secured and football creditors are paid off. So if Gigg is worth 5 million, secured creditors owed 2 million and even if unsecured amounts to 12 million, 7/12ths of what remain go to days daughters boyfriend, add in SD2 debts owed, he won’t do bad for his quid.

I don’t know any of this is fact but I can’t see anything illegal SD2 has done, he is too smart. I would question why someone would buy a debt at 1p in the pound, unless they knew it would come good, that’s where the real question lays, with the purchaser and the person that signed off the sale of the debt!

Either way bURY are fooked, can’t make Dale sell and he does not want to, as his son laughed ages ago, why would we want to sell!!!!
[Post edited 7 Sep 21:17]


Great summary that Thacks. I’m sure an investigation will look at the source of funds for the £70k purchase, but as you say, SD2 will be way too clever to leave any evidence there.
[Post edited 8 Sep 6:11]
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tomorrow can't come quick enough on 08:15 - Sep 8 with 4017 viewsEllDale

Flitcroft has a really tarnished reputation these days.
There was the Joe Thompson episode and now he's in denial about the Chur.
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tomorrow can't come quick enough on 09:10 - Sep 8 with 3944 viewsnordenblue

tomorrow can't come quick enough on 08:15 - Sep 8 by EllDale

Flitcroft has a really tarnished reputation these days.
There was the Joe Thompson episode and now he's in denial about the Chur.


Whats "the Joey Thompson episode", I await another rib tickling reply similar to last time I asked..
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tomorrow can't come quick enough on 09:13 - Sep 8 with 3939 views1907

tomorrow can't come quick enough on 09:10 - Sep 8 by nordenblue

Whats "the Joey Thompson episode", I await another rib tickling reply similar to last time I asked..


Thompson goes to town on Flitcroft in his autobiography.

It really is surprising as it’s probably the only negative things he says about anyone.
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tomorrow can't come quick enough on 10:11 - Sep 8 with 3846 viewsThacks_Rabbits

tomorrow can't come quick enough on 03:55 - Sep 8 by Cleedale

Many thanks Thacks, that appears much clearer - will have another read later for it to sink in.

Sure you'll have been asked before but is Thacks_Rabbit anything to do with Andy Thackeray? (Also not a legal question)!!

Seem to remember him scoring a great volley against bURY once from outside the box but can't remember whether that was towards the old Pearl Street end or at Gigg.


Indeed it is reference to our much maligned / useless bastard (delete as applicable) attacking right back / right midfielder. I always thought he was a decent player tbh and the user name comes from an EGP poll, where I think the question was “What would you like EGP to do?” And somebody replied “kill Thackerays Rabbits” - to this day I still don’t really understand!!!!

Thacks has a habit of scoring against bURY, probably got more goals vs bURY than everyone else put together, last I heard he had a carpet shop in Mossley!

Every Team Needs A John Ryan - The Winger Who's a Ringer!!!!!
Poll: Is Rupert Reid the biggest bellend you have ever seen

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tomorrow can't come quick enough on 11:40 - Sep 8 with 3761 viewsTVOS1907

tomorrow can't come quick enough on 03:55 - Sep 8 by Cleedale

Many thanks Thacks, that appears much clearer - will have another read later for it to sink in.

Sure you'll have been asked before but is Thacks_Rabbit anything to do with Andy Thackeray? (Also not a legal question)!!

Seem to remember him scoring a great volley against bURY once from outside the box but can't remember whether that was towards the old Pearl Street end or at Gigg.


He scored FOUR goals for Dale at bury in 92/93 - two in the Autoglass Trophy and two in the league.

What's the 'Know all clique' and who's in it?

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tomorrow can't come quick enough on 12:42 - Sep 8 with 3676 viewselectricblue

tomorrow can't come quick enough on 20:56 - Sep 7 by Thacks_Rabbits

My view on it cleedale, not as a lawyer but as someone who has worked in financial services for years is this, will keep it brief as my Mrs is getting fed up of me spending more time on here than on her!!!

Dale basically bought bURY via a limited company for a quid, and also set up a couple of subsidies for various parts of bURY fc, and assets were transferred, all of that is legal, but the key thing is Dale is not personally liable for any debt, the company is, so in essence he has paid a quid on a punt, knowing the worst that can happen, as long as he does everything legally is he loses a quid!

The assets in bURY, assuming merdeco debt is real (I think it is) are way below the net value of the borrowing on the club and property, even if the merdeco debt is not real borrowing probably is above asset value, hence the club is worthless and uninvestable, so they then go for cva to reduce debt overall.

That goes through fine, as somehow the 7.1 million merdeco debt was sold to SD2’s daughters boyfriend, and that’s the bit where it will get messy. That would normally mean the merdeco insolvency guy approved the sale of above debt for a penny in the pound, meaning the debt was so toxic nobody would touch it, but it gave the new owner of the debt the right to vote on accepting the cva, the majority vote, which means they receive 25p in the pound after all secured and football creditors are paid off. So if Gigg is worth 5 million, secured creditors owed 2 million and even if unsecured amounts to 12 million, 7/12ths of what remain go to days daughters boyfriend, add in SD2 debts owed, he won’t do bad for his quid.

I don’t know any of this is fact but I can’t see anything illegal SD2 has done, he is too smart. I would question why someone would buy a debt at 1p in the pound, unless they knew it would come good, that’s where the real question lays, with the purchaser and the person that signed off the sale of the debt!

Either way bURY are fooked, can’t make Dale sell and he does not want to, as his son laughed ages ago, why would we want to sell!!!!
[Post edited 7 Sep 21:17]


Going off that the questionis!
Are SD1 and SD2 in cahoots!
[Post edited 8 Sep 12:47]

My all time favourite Dale player Mr Lyndon Symmonds

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tomorrow can't come quick enough on 14:40 - Sep 8 with 3571 viewsThacks_Rabbits

tomorrow can't come quick enough on 12:42 - Sep 8 by electricblue

Going off that the questionis!
Are SD1 and SD2 in cahoots!
[Post edited 8 Sep 12:47]


Without prejudice.

The merdeco debt selling, i would suggest someone very close to the debt is!!!!

Every Team Needs A John Ryan - The Winger Who's a Ringer!!!!!
Poll: Is Rupert Reid the biggest bellend you have ever seen

1
tomorrow can't come quick enough on 17:10 - Sep 8 with 3460 viewselectricblue

tomorrow can't come quick enough on 14:40 - Sep 8 by Thacks_Rabbits

Without prejudice.

The merdeco debt selling, i would suggest someone very close to the debt is!!!!


Lets hope the fraud investigation unearths everything.......

My all time favourite Dale player Mr Lyndon Symmonds

1
tomorrow can't come quick enough on 17:26 - Sep 8 with 3409 viewsMolly

tomorrow can't come quick enough on 23:42 - Sep 7 by 442Dale

https://www.burytimes.co.uk/sport/17882596.david-flitcroft-warned-stewart-day-bu

The man has no shame. A quite pathetic attempt to deflect any blame.


The same David Flitcroft that claimed Bury had one of the smallest budgets in the league?
Hahahahahahahahahahahahahahahahahahahahahahahahahahahahhahahahahahahaha
2

tomorrow can't come quick enough on 11:56 - Sep 9 with 2941 views49thseason

Just seen this , some interesting stats...
http://priceoffootball.com/bury-another-brick-in-the-wall/
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tomorrow can't come quick enough on 12:09 - Sep 9 with 2884 viewsD_Alien

tomorrow can't come quick enough on 11:56 - Sep 9 by 49thseason

Just seen this , some interesting stats...
http://priceoffootball.com/bury-another-brick-in-the-wall/


Great find

Sets out the basics in the clearest way possible

Makes good reading for us too. Be interesting to see if there's any follow-up to 442's absolutely vital question about the sudden urge to borrow from our board. Without cast iron guarantees, must be resisted - and there are very few cast iron guarantees, if any, when it comes to borrowing

Beware of euphemisms such as "inward investment"

[Post edited 9 Sep 12:13]
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tomorrow can't come quick enough on 12:21 - Sep 9 with 2835 viewsboromat

tomorrow can't come quick enough on 11:56 - Sep 9 by 49thseason

Just seen this , some interesting stats...
http://priceoffootball.com/bury-another-brick-in-the-wall/


One of the graphs Players Wages vs Income is pretty daunting only a couple of clubs below the 60% mark that year. I thought the EFL FFP states you have to be below 60%?

Poll: Curzon Ashton or Stockport County which friendly will you be going to?

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tomorrow can't come quick enough on 13:51 - Sep 9 with 2701 viewsjudd

tomorrow can't come quick enough on 11:56 - Sep 9 by 49thseason

Just seen this , some interesting stats...
http://priceoffootball.com/bury-another-brick-in-the-wall/


Sociopathic narcissist?

Football does seem to attract them!!!
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tomorrow can't come quick enough on 15:31 - Sep 9 with 2561 views49thseason

tomorrow can't come quick enough on 13:51 - Sep 9 by judd

Sociopathic narcissist?

Football does seem to attract them!!!


Tee Hee! Wonder who that might be then?
1
tomorrow can't come quick enough on 15:56 - Sep 9 with 2496 viewsDaleiLama

tomorrow can't come quick enough on 19:33 - Sep 4 by TVOS1907

It's currently up to £1,812, so 0.1812% of the way there.

I'm sure they can do it.


Your mathematical overtures will make you no friends with those who cant add up

Come on you Dayul
Poll: Are changes to the board seen as good or bad by folks who know those involved?

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tomorrow can't come quick enough on 16:29 - Sep 9 with 2425 viewsSandyman

tomorrow can't come quick enough on 19:33 - Sep 4 by TVOS1907

It's currently up to £1,812, so 0.1812% of the way there.

I'm sure they can do it.


Now a massive £9,905 raised of £1,000,000.

A massive 0.9905% of the way there.
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tomorrow can't come quick enough on 18:18 - Sep 9 with 2279 views442Dale

tomorrow can't come quick enough on 12:09 - Sep 9 by D_Alien

Great find

Sets out the basics in the clearest way possible

Makes good reading for us too. Be interesting to see if there's any follow-up to 442's absolutely vital question about the sudden urge to borrow from our board. Without cast iron guarantees, must be resisted - and there are very few cast iron guarantees, if any, when it comes to borrowing

Beware of euphemisms such as "inward investment"

[Post edited 9 Sep 12:13]


In response to this, I have been informed via email from the Trust the best way of raising any issues with them is face to face in the Dale Bar or via email to their address. I raised the point that the Trust have posted and answered questions from members and supporters on here before and that a simple reply around process could have seen this established, but we all know the agreed method now.

You would hope the Trust will have had the same question around “why such investment was necessary for us to continue at the level we are”, but I’ll clarify this ahead of their next meeting with the club via email or at the Trust desk and ask that responses are available to all supporters via their website.

Will also post this in the Trust thread for clarity and to assist supporters/the Trust/the club in maintaining clear, informative and consistent methods of communication.

Poll: Who do you want to come down?

1
tomorrow can't come quick enough on 18:33 - Sep 9 with 2239 viewsShun

tomorrow can't come quick enough on 11:56 - Sep 9 by 49thseason

Just seen this , some interesting stats...
http://priceoffootball.com/bury-another-brick-in-the-wall/


Reading those stats just goes to show how bloody well we’re run!
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tomorrow can't come quick enough on 08:43 - Sep 10 with 1805 viewsSuddenLad

Mederco BFC update:







[Post edited 10 Sep 8:48]

“Many of life’s failures are people who did not realise how close they were to success when they gave up.”

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tomorrow can't come quick enough on 11:14 - Sep 10 with 1583 viewsjudd

tomorrow can't come quick enough on 08:43 - Sep 10 by SuddenLad

Mederco BFC update:







[Post edited 10 Sep 8:48]


Jesus, it's this thread all pulled into one report.
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tomorrow can't come quick enough on 15:08 - Sep 10 with 1301 views442Dale



Who’s sending them the link to this thread...

Poll: Who do you want to come down?

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tomorrow can't come quick enough on 15:18 - Sep 10 with 1284 viewsjudd

tomorrow can't come quick enough on 15:08 - Sep 10 by 442Dale



Who’s sending them the link to this thread...


Just send them the list of creditors.
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tomorrow can't come quick enough on 17:37 - Sep 10 with 1096 viewsShun

tomorrow can't come quick enough on 11:14 - Sep 10 by judd

Jesus, it's this thread all pulled into one report.


What does that mean in non-business talk?
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