For going to restaurants and begging the owners to buy a rugby team? I could do it for less. Plus I bet the curries were on expenses

I think that's Mrs Glenn Morrison you are slagging off McChicken

wire offered £300k for bateman so I fail to see how £150k for all of the club's assets represents value for the creditors

Welcome to the wonderful world of Insolvency. The creditors will get nothing and can do nothig about it. Believe me, those Insolvency Practicioners costs look OK compared to some of the stuff I see,

Lawyers get bad press but Insolvency Practiocioners are real vultures.

Small businesses generally end up stuffed when dealing with companies that go bust. Bigger companies - especially banks - will hard-headedly cut their exposure as soon as they get whiff of a problem, fail to get paid etc (as the bank did with the Bulls). Small companies tend to chase their losses - partly because they have no choice as they themselves owe money further up the chain. Its a tough place to be, especially in a recession.

Its business, anyone who does not realise that this happens needs to take their head out of the sand or deal in cash only.

To those who didn't realise how insolvency worksand how much it costs, well you do now.

Would this get the same publicity if it was a small business that went bust, no its the Bulls so let the T&A make a story.

It is all a bit naive and anti-Bulls isn't it, you almost expect the reporter to storm the offices and demand when the new owners are going to repay the bills of these poor traders who let the previous administration have credit.

Just in case the reporter of the T&A is reading this, the answer is, its nothing to do with the new owners.

^ Have stormed the offices of non paying companies before, to get property back.

Not legal, but its just the matter who has the biggest balls.

Never had any come back, strange that, after they tell you they'll see you in court get their solicitor involved etc.

Oi, we get some of our best work from IPs so I'll not hear them slagged off

The whole lot is fiasco from start to finish,I suppose in life you should always try to think the best of people .so I hope the new owners make a success of the bulls but I cannot see how they can make money from the present set up.
They don't seem the kind of people who are in it for the love of the game I hope to be proved wrong .

Imagine the kind of lowlife that petitions for the companies compulsory liquidation (earning fees in the process), refers the liquidation to an IP and receives work back from the IP thanks to the referral.

It's a cracking industry is the world of Insolvency.

Unless you're a creditor, of course.

ALL people in the legal profession should be put in a large bag full of bricks and thrown in a deep lake.............what it is that you do again Gareth?

Business recovery is a branch of accountancy not Legal. They are complete parasites who primary motivation is to earn the maximum they can from each job. Anyone who thinks the creditors stand a chance they are truly deluded.

In the bigger firms these guys are at the very top of the fee earning tree. When I worked for C&L as it was them Michael Moore was head of BR and his numbers were truly staggering even in those pre Maxwell days.

I love the term "business recovery". Nobody ever recovers from the IP picking the carcass from it's last bits of flesh.

Except for those who phoenix out of it, debt free, into a newco of course.

Pre packs!!

The only problem with that point of view is the alternative - hold all company directors personally responsible for every last penny of debt and very soon you'll have no-one left in the country who wants to have that sort of gun held to their head.

Then who are you going to fee-charge as clients ?

Heard this Khan fella has been bankrupt before? Is this true and if so riles
me how the innocent creditors are the losers!! Not sure if any truth though cos never heard of the fella

There's no such thing as an "innocent creditor" in business.

the fact is despite completing a creditors claim form to recover funds there is little chance of getting anything - the bulls have nothing and what they did have has gone to the Liquidator now

IIRC St Johns Ambulance got stiffed when Leeds United went into admin. I'd say they meet that description.

Bunkum, the Bulls have plenty of assets who wear the shirts week in week out, Wakey had to sell players to get out of trouble, time the bulls stopped bleating and followed suit!!!

The time for selling players was at the beginning of the admin though, not now. Why would a club pay a fee when a player can just leave for free ala Kopzczak.

But they are saying Kopczak can't leave for free that's my point, although think they may be wrong unless they pay off all monies owed, can't have it everyway!!!

Seriously ?

You're suggesting that there is no business structure to the St Johns Ambulance, that behind that charity/volunteer public face there isn't a business structure where finances are organised by accountants and auditors keep an eye on debtors and creditors and all the other mind-numbingly sterile stuff that you accountants do ?

Well I never knew that.



I'll qualify my statement slightly - there are no "innocent creditors" in a business-to-business transaction.