Re: Phew......
Posted: Tue May 03, 2011 8:21 pm
What a depressing last dozen or so threads.
I wrote on another thread a few days ago about the risk of "piggy backing" the petition and thought this was inevitable. I guess the stark reality is now find several hundreds of thousands in 6 weeks to placate the petitioning creditors or R&D is no more. The best we fans can hope for now is if someone feels we're worth buying out of a pre-pack Administration (albeit probably at a lower level), although sadly this is very unlikely to help the creditors.
To those who criticise Diamonds Mad, I think you are way off the mark. I don't know her personally, but suspect it is precisely because she loves the club she loaned £110k of her own money to help. A number of us are sitting on our £200-£300 season ticket money because of the situation and Ms Wignall is light in the wallet of £110k!! I fully respect her right to do whatever she can to recover that money given the apparent circumstances in which it was loaned. Who wouldn't do the same? I suspect this is more an issue between the personalities involved with the club unfortunately in the middle.
Winding Up Petitions are usually a last resort for desperate creditors to get whatever they can and most file them fully aware they could get nothing. It can however flush out those who do have funds and will pay up if their business survival is threatened. It's ultimate corporate brinkmanship really and does find out if cash is there or not. It will be interesting to see if PBDevs survives all this or whether any insolvency of R&C FC Ltd will bring it down too.
I wrote on another thread a few days ago about the risk of "piggy backing" the petition and thought this was inevitable. I guess the stark reality is now find several hundreds of thousands in 6 weeks to placate the petitioning creditors or R&D is no more. The best we fans can hope for now is if someone feels we're worth buying out of a pre-pack Administration (albeit probably at a lower level), although sadly this is very unlikely to help the creditors.
To those who criticise Diamonds Mad, I think you are way off the mark. I don't know her personally, but suspect it is precisely because she loves the club she loaned £110k of her own money to help. A number of us are sitting on our £200-£300 season ticket money because of the situation and Ms Wignall is light in the wallet of £110k!! I fully respect her right to do whatever she can to recover that money given the apparent circumstances in which it was loaned. Who wouldn't do the same? I suspect this is more an issue between the personalities involved with the club unfortunately in the middle.
Winding Up Petitions are usually a last resort for desperate creditors to get whatever they can and most file them fully aware they could get nothing. It can however flush out those who do have funds and will pay up if their business survival is threatened. It's ultimate corporate brinkmanship really and does find out if cash is there or not. It will be interesting to see if PBDevs survives all this or whether any insolvency of R&C FC Ltd will bring it down too.