Administration

[Northampton Owl]

If we are as Donald ducked as peeps on here think and the bank of chansiri has run dry. With our assets in another Companies name wouldn't that be fair to say the administrator couldn't touch the ground as an asset or anything else under the umbrella of swfc? Might chansiri be playing a blinder here getting us out of debt? Just a thought as accounts are delayed.

[Derick Mills]

6 minutes ago, Northampton Owl said:

If we are as Donald ducked as peeps on here think and the bank of chansiri has run dry. With our assets in another Companies name wouldn't that be fair to say the administrator couldn't touch the ground as an asset or anything else under the umbrella of swfc? Might chansiri be playing a blinder here getting us out of debt? Just a thought as accounts are delayed.

I don't know if we can go into admin with Chansiri being the only person the club owes money to, I think if it's HRMC then it's liquidation 

[shandypants]

Don’t forget that those supporters that still have season ticket money in the club will lose that if Chansiri or anyone else put ms the club into administration. 
 

Fvvck that! 

[Derick Mills]

9 minutes ago, shandypants said:

Don’t forget that those supporters that still have season ticket money in the club will lose that if Chansiri or anyone else put ms the club into administration. 
 

Fvvck that! 

Yep to right

[Utah Owl]

Chansiri playing a blinder?

 

Only in the sense that he''s blind to reality!

[Kew Owl]

8 hours ago, shandypants said:

Don’t forget that those supporters that still have season ticket money in the club will lose that if Chansiri or anyone else put ms the club into administration. 
 

Fvvck that! 

I can’t see HMRC being too concerned about that somehow.

 

On the other hand, one would like to think that any new owner would want to start off with the fans on side and would therefore honour existing season ticket obligations, refunds etc - even if the money had to come out of his own pocket 

[Beauchief Owl]

8 hours ago, Northampton Owl said:

If we are as Donald ducked as peeps on here think and the bank of chansiri has run dry. With our assets in another Companies name wouldn't that be fair to say the administrator couldn't touch the ground as an asset or anything else under the umbrella of swfc? Might chansiri be playing a blinder here getting us out of debt? Just a thought as accounts are delayed.

You're suggesting a guy that can't even sell the ground to himself without incurring huge legal fees and a points deduction is some sort of mastermind. Do you realise how foolish that sounds? 

[striker]

8 hours ago, Northampton Owl said:

If we are as Donald ducked as peeps on here think and the bank of chansiri has run dry. With our assets in another Companies name wouldn't that be fair to say the administrator couldn't touch the ground as an asset or anything else under the umbrella of swfc? Might chansiri be playing a blinder here getting us out of debt? Just a thought as accounts are delayed.

Chansiri's dummy company hasn't paid the club a penny for the stadium yet has it?

 

Also, not sure what administration would achieve, most of the debt owed to Chansiri.

[youngowl]

3 minutes ago, striker said:

Chansiri's dummy company hasn't paid the club a penny for the stadium yet has it?

 

Also, not sure what administration would achieve, most of the debt owed to Chansiri.

So if the club went into administration who would own the ground if the dummy company had not paid for it.

[striker]

9 minutes ago, youngowl said:

So if the club went into administration who would own the ground if the dummy company had not paid for it.

No idea mate. It's a mess, but as I said don't see what benefit Chansiri would gain from voluntary administration. 

 

It would probably make any sale more complicated though. 

[Guest]

I’m no financial or legal guru so I ask this as a genuine question to our more educated friends on these subjects 

 

but if we sold the ground to a company and that company hasn’t paid us any agreed payments how long would the non payments have to go on for before we could legally claim our property back 

 

I imagine there is some kind of legally binding contract for terms and conditions and penalties for non payments 

 

or as the sole owner of the club and all it’s properties and assets can he just move the ownership of any assets to another company he owns 

 

these may have been answered elsewhere so apologies if I’m repeating something 

[Essix Blue]

5 minutes ago, PARKOWL said:

I’m no financial or legal guru so I ask this as a genuine question to our more educated friends on these subjects 

 

but if we sold the ground to a company and that company hasn’t paid us any agreed payments how long would the non payments have to go on for before we could legally claim our property back 

 

I imagine there is some kind of legally binding contract for terms and conditions and penalties for non payments 

 

or as the sole owner of the club and all it’s properties and assets can he just move the ownership of any assets to another company he owns 

 

these may have been answered elsewhere so apologies if I’m repeating something 

It’ll all depend on the contract I guess. The agreement between Chansiri and errrrrrrr - Chansiri

[dykwim]

4 minutes ago, PARKOWL said:

I’m no financial or legal guru so I ask this as a genuine question to our more educated friends on these subjects 

 

but if we sold the ground to a company and that company hasn’t paid us any agreed payments how long would the non payments have to go on for before we could legally claim our property back 

 

I imagine there is some kind of legally binding contract for terms and conditions and penalties for non payments 

 

or as the sole owner of the club and all it’s properties and assets can he just move the ownership of any assets to another company he owns 

 

these may have been answered elsewhere so apologies if I’m repeating something 

I imagine it’s been financed via a finance company so the finance company would own the ground, it wouldn’t revert back to the ‘original owner’. The finance company would then look to sell it to the highest bidder to re-coup some or all of their money that was originally lent to Chansiri’s company to purchase the ground in the first place. 

[Essix Blue]

3 minutes ago, dykwim said:

I imagine it’s been financed via a finance company so the finance company would own the ground, it wouldn’t revert back to the ‘original owner’. The finance company would then look to sell it to the highest bidder to re-coup some or all of their money that was originally lent to Chansiri’s company to purchase the ground in the first place. 

So in effect the ground is mortgaged?

[dykwim]

3 minutes ago, Essix Blue said:

So in effect the ground is mortgaged?

Essentially, yes, I believe so. 

[Essix Blue]

Just now, dykwim said:

Essentially, yes, I believe so. 

You’re probably right. That actually makes me slightly happier if it’s true, obvs dependant on who the mortgage is with. But it’d mean if we did go bust DC would have no hold over the club

[Guest]

1 minute ago, dykwim said:

I imagine it’s been financed via a finance company so the finance company would own the ground, it wouldn’t revert back to the ‘original owner’. The finance company would then look to sell it to the highest bidder to re-coup some or all of their money that was originally lent to Chansiri’s company to purchase the ground in the first place. 

Cheers 

so if I understand it right the owner can move an asset of Sheffield Wednesday to another company and then use it as collateral on a finance deal with another finance company 

that money from the finance deal doesn’t have to go to Sheffield Wednesday it can stay within the Chansiri group of companies and any failure to pay, results in the finance company taking the ground    as payment and are free to do what they want with it 

[Owling with laughter]

4 minutes ago, dykwim said:

I imagine it’s been financed via a finance company so the finance company would own the ground, it wouldn’t revert back to the ‘original owner’. The finance company would then look to sell it to the highest bidder to re-coup some or all of their money that was originally lent to Chansiri’s company to purchase the ground in the first place. 

But no money has been transferred anywhere, why would a finance company be involved. It’s all a paper exercise isn’t it? 
 

There’s no £60m, it doesn’t exist. He’s supposed to be paying for it at £8m? a year, that’ll be another paper exercise. Just shuffling figures around from fake company to fake company.

[Guest]

1 minute ago, Essix Blue said:

You’re probably right. That actually makes me slightly happier if it’s true, obvs dependant on who the mortgage is with. But it’d mean if we did go bust DC would have no hold over the club

So in affect if chansiri lost the club and didn’t keep up repayments on the ground then the finance company would be free to make a deal with any potential new owner of the club 

[Uncle Mort AMB]

2 minutes ago, Essix Blue said:

So in effect the ground is mortgaged?

Yes for £6 million for loan note holders pre Milan which is due 2022 or2023 forget which the company made Chansiri takeout it out has  insurance when the EFL put -12 points in place.