tag:blogger.com,1999:blog-5476043688166279353.post3821193435442146511..comments2023-09-27T09:34:56.839+01:00Comments on Blackheath Addick: Administration ThoughtsBurgundy Addickhttp://www.blogger.com/profile/12203516889598003723noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-5476043688166279353.post-38246225586427218372009-01-22T11:16:00.000+00:002009-01-22T11:16:00.000+00:00Compo, I hope to be there on Wednesday but can lea...Compo, I hope to be there on Wednesday but can leave it to a late decision depending on work commitments. Holding the AGM the morning after the Palace game suggests either supreme confidence in the outcome or that someone forget to check the calendar. <BR/><BR/>NYA, I think such concerns could be justified, but the creditors involved in our case are effectively the directors and the bank. As long as the former don't give up and the latter remains satisfied (as it should be as long as the loans are being serviced - and in this environment for HSBC to unnecessarily pull the plug and fold a football club would be a PR disaster). <BR/><BR/>I don't know much about the Maidstone case, but just reading the wikopedia account it seems there were some other things going on there, with the chairman having property development interests. He has subsequently been banned from involvement in football clubs. Current casflow position and management will, I assume, feature strongly at the AGM.Burgundy Addickhttps://www.blogger.com/profile/12203516889598003723noreply@blogger.comtag:blogger.com,1999:blog-5476043688166279353.post-71366568877350980782009-01-22T00:51:00.000+00:002009-01-22T00:51:00.000+00:00Excellent post, but am I missing something with re...Excellent post, but am I missing something with regard to the administration option? <BR/><BR/>In short, what if the creditors conclude that their interests are best served not in a debt restructuring, but in a liquidation? Isn't this what happened with Maidstone Utd?<BR/><BR/>In the current environment where cash is king, surely this is a bigger risk than normal?New York Addickhttps://www.blogger.com/profile/08557761313491796984noreply@blogger.comtag:blogger.com,1999:blog-5476043688166279353.post-24152177909068693962009-01-21T23:53:00.000+00:002009-01-21T23:53:00.000+00:00Will you be attending the AGM next Wednesday , BA ...Will you be attending the AGM next Wednesday , BA ? And do you think there'll be a statement of any great significance from that meeting?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5476043688166279353.post-91248793283221615642009-01-21T22:21:00.000+00:002009-01-21T22:21:00.000+00:00So, BHA, Administration would only be desirable to...So, BHA, Administration would only be desirable to our Directors if they really wanted to cut their losses (not seeing their debt repaid) and were happy to see Charlton disappear - HSBC taking possession of the Valley?<BR/><BR/>Given we haven't seen a January wholesale flogging of our expensive "stars" (maybe a lick of the cat would motivate..)which seems the only means of achieving breakeven in Championship or League1, I wonder what the plan is.<BR/><BR/>I suspect that a compromise keeping several options open is the plan. Make a fight of it for the second half of the season with what we'e got (plus occasional loans) and then sell in the summer if we fall.<BR/><BR/>Whether the Admin rumour was started by the Boardroom or not, the debate that it has generated certainly makes you appreciate the Directors' situation.<BR/><BR/>Pembury AddickAnonymousnoreply@blogger.com