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tango94 Posted on 11/02/2019 10:35
Receiver Queries.
 
Assuming that there are no further developments between now and Wednesday and the Court appoints a receiver what are the chances of further prevarications.
Once the Receiver assumes control of the assets and starts the preliminaries does that take OO completely out of the picture or will he be able to come back in at some later stage with challenges to valuations etc?
The valuations presumably could take months to complete. At the end of that process could he, in theory, still come back to VB offering a cash settlement or is that door closed once a Receiver has been appointed?
It may be wishful thinking but I am hoping that this time every escape route has been sealed off and bolted down.
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kieronjames1 Posted on 11/02/2019 11:01

Receiver Queries.
He isn't there to value, at this stage he's there to market and get the best price on the day. As long as he does that and doesn't punish OO by accepting lower offers there's absolutely nothing OO can do about it.
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straightatthewall Posted on 11/02/2019 11:03

Receiver Queries.
I think the interesting element will be what potential buyers think is a fair offer compared to what Owen thinks things are worth.

What classes as 'punishing' Owen? Is it as simple as saying that the best bid wins?
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dazzy Posted on 11/02/2019 11:08

Receiver Queries.
i think its wait and see what the outcome is,nobody knows at this stage,although i'm sure some will claim to know.
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TangerineNige Posted on 11/02/2019 11:29

Receiver Queries.
Are any bids for the club closed? In other words can Belokon bid the most and be guaranteed to be the highest bidder.?
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dazzy Posted on 11/02/2019 13:08

Receiver Queries.
ask Boris [rle]
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Josuah98 Posted on 11/02/2019 15:15

Receiver Queries.
Need to ensure club property is not stolen e.g. HMS Lord Fontelroy oak panelling that is in OYstons board room is not taken from club
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davepick1 Posted on 11/02/2019 15:23

Receiver Queries.
What straighters said.
Can OO actually not agree to sell if he thinks the price is too low? We all know he will over value everything he has.
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tango94 Posted on 11/02/2019 15:53

Receiver Queries.
Sincerely hope not Dave otherwise he'll agree to nowt!
I'm just interested to know how much clout a receiver has when dealing with the likes of Oyston who is likely to come up with every trick in the book given half a chance.
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we_are_superior Posted on 12/02/2019 08:43

Receiver Queries.
Be interesting to see how the EFL stick their big fat nose in this - some clubs have had to wait months for the 'fit and proper person test' to be completed which could mean another summer in limbo!
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insider Posted on 12/02/2019 08:50

Receiver Queries.
I thought the "market valuations" issue, other than the football club, had already been put before the Judge. You'll need to go back to Robbie's minutes.
My recollection is that valuations were provided and sales could go ahead provided they reached a ??% of that figure. Not sure of the ??%.
The Football Club was treated differently and required Judge approval.
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MARK_GT Posted on 12/02/2019 09:09

Receiver Queries.
Interesting question Nige - is it in the gift of the receiver to determine the bidding format? For instance sealed bids or open auction? Don't know myself.
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mexboroseasider Posted on 12/02/2019 09:55

Receiver Queries.
The receiver is an officer of the court; not someone hired by VB. He has to act impartially and I imagine heíll have his own lawyers.

I suspect thatís why VB has been reluctant to go down this route; loss of control.

As for the receiverís powers; that depends on the terms of the court order but I expect it to be drafted widely. In which case OO will have little or no input and, in the absence of misconduct by the receiver, little or no recourse.

Oh dear; what a shame; never mind.
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Discodaz1 Posted on 12/02/2019 10:02

Receiver Queries.
Can somebody explain the 'shares' situation to me in simple terms. If OO has to sell everything to pay VB and effectively buy his shares, would that not still leave OO with his own shares and also VB's shares in BFC too? Thanks...[?]
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Southshore Posted on 12/02/2019 10:07

Receiver Queries.
In theory yes, but he has to find £25mil from other assets to do that and is effectively buying the club himself for that amount.
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Discodaz1 Posted on 12/02/2019 10:24

Receiver Queries.
Thanks for that -I get that bit.
So, what are the options that dont still leave him as the majority shareholder or a minor shareholder if he has to sell his own shares to service the debt and buy VB's....it is very confusing?
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