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The Falkirk FC Thread


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Ok, for administration, you need a significant debtor to start the process. If we are (as seems to be the case) up to speed with HMRC, then that’s the main admin baddie out of the way. Perhaps we own Falkirk Council rent? Dont think so though. SSEB? Nope. Players unpaid? Don’t think so. How about directors soft loans? Could be. So what’s the best way for them never to see a penny of their money? That’s right, call in an insolvency practitioner. So what’s an insolvency practitioner’s first duty? Look after the interests of creditors? Nope. It’s to keep the business afloat by dumping all debt if possible. So, if we have debt, and it’s in the form of soft loans, then they are the very last people to want insolvency practitioners anywhere near the building as their shares and their loans instantly become worth nowt.
Forgive me, as I actually worked for SSEB, when it was a public service.
No cash, no assets? Go straight to liquidation, #DoNotPassGo, just like last time.[emoji6]
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1 minute ago, kiddy said:

Forgive me, as I actually worked for SSEB, when it was a public service.
No cash, no assets? Go straight to liquidation, #DoNotPassGo, just like last time.emoji6.png

Sorry no. You are not understanding administration versus ye olde “provisional liquidation” days. The laws governing such events have moved on significantly. Witness Livingston’s £10 million plus admin 1, and their £2.3 million admin 2 with absolutely zero assets.

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Sorry no. You are not understanding administration versus ye olde “provisional liquidation” days. The laws governing such events have moved on significantly. Witness Livingston’s £10 million plus admin 1, and their £2.3 million admin 2 with absolutely zero assets.
I could counter by listing multiple companies who have ceased trading through lack of liquidity. But I just can't be bothe.....
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5 minutes ago, kiddy said:
11 minutes ago, Duncan Freemason said:
Sorry no. You are not understanding administration versus ye olde “provisional liquidation” days. The laws governing such events have moved on significantly. Witness Livingston’s £10 million plus admin 1, and their £2.3 million admin 2 with absolutely zero assets.

I could counter by listing multiple companies who have ceased trading through lack of liquidity. But I just can't be bothe.....

Counter me with a Scottish football club. In an admin event, Dave and Kenny could become very powerful players who with the support backing, could step in and own the whole thing.......aye, and for a lot less than 800k.

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11 minutes ago, purplemonkeydishwasher said:

IMG_3970.jpg

Get down bawbags

Quality ! we got what we deserved and and I fully expect it to be made official next week unless Ross County are in holiday mode and Alloa win, it has been a cluster f**k of a season, feel sorry for the fans who have dug deep to buy tickets every week and been served up with this shite, so suck it up lads, be sampling other pie huts next season.

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