Allen Rejects Mandaric Offer

should have offered him a pigeon

I would imagine it's easier to negotiate with terrorists or women suffering PMT than some of our loan note holders! What happens to the money owed to the loan note holders if we go into admin, are they likely to get what's owed, a tiny fraction or nothing at all?? If this is true hopefully Mandaric's initial offer was to test the water and he'll come back with something they'll all agree to if that's at all possible the greedy gets! Either way the next few days will be an important milestone in the clubs history.

To be fair, if i had £2.4 million in a club, i wouldnt accept £250,000, administration or not. Good to know somebody is interested though i suppose. I actually think administration is the best bet in regards to making the club sellable, never will get a decent owner with every man and his dog having shares in the club. I cant even see us getting promotion this season so im happy to write this season off as a rebuilding job and start from scratch.

what happens to the ground and the training ground if we go into admin? can the bank sell them and take the money and run? what about players - can they all walk away leaving us with youngsters for rest of season(might not be a bad thing!)?

DO THE RIHT THING DAVE ALLEN THE RIGHT THINK FOR THIS CLUB AND FOR YOUR OWN KARMA,,

Just for information. I did a credit check on another company that I know went out of business and the 2 companies who had debentures and Chettel motgages did very nicely. I know that they actually didnt lose a bean. Because the bank have been so supportive, they must have got one or the other or even both. Thats why I dont believe that they will bail us out again. Sorry to p**s on everyone's parade this lovely cold Monday afternoon, 2 days before a winding up order in the high court. Mortgage Details Mortgage Type: DEBENTURE Date Charge Created: 11/07/03 Date Charge Registered: 18/07/03 Date Charge Satisfied: - Status: OUTSTANDING Person(s) Entitled: NATIONAL WESTMINSTER BANK PLC Amount Secured: ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER Details: FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY Mortgage Type: CHATTEL MORTGAGE Date Charge Created: 11/03/03 Date Charge Registered: 18/03/03 Date Charge Satisfied: - Status: OUTSTANDING Person(s) Entitled: EURO SALES FINANCE PLC Amount Secured: ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMSOF THE AFOREMENTIONEDINSTRUMENT CREATING OR EVIDENCING THE CHARGE Details: THE CHATTELS, THE INSURANCE POLICIES AND THE CONTRACTS SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

please DA just accept the next offer! would be pleased with mandaric but its all media reports so might not even be true anyway