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Jamie Doran

Havenwarrior

By Havenwarrior
in Workington Town

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Seaton Sandy

Seaton Sandy

Posted
Posted

Technically administration is a form of insolvency

Technical moot points apart- those who go down the administration route commit themselves to a stringent regime of financial reparation --believe it or not --scrutinised by independent administrators who do their utmost to address the rights of all creditors ,regardless of the financial impact on those in administration. A completely different scenario to those who roll belly-up and scuttle away to emerge wearing a different mask leaving a trail of debts in their wake. I suspect you're out of your comfort zone on this debate assamarra. 

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LeeF

LeeF

Posted
Posted

Technical moot points apart- those who go down the administration route commit themselves to a stringent regime of financial reparation --believe it or not --scrutinised by independent administrators who do their utmost to address the rights of all creditors ,regardless of the financial impact on those in administration. A completely different scenario to those who roll belly-up and scuttle away to emerge wearing a different mask leaving a trail of debts in their wake. I suspect you're out of your comfort zone on this debate assamarra.

Your suspicions are incorrect. I am not out of my comfort zone

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LeeF

LeeF

Posted
Posted

Not really but many companies are insolvent at a given point in time without liquidation.

Administration is different to liquidation which is different to insolvency.

Administration is different to liquidation but both are forms of insolvency as defined under the relative laws. Is this what you actually meant to say?

Administration does involve the inability to meet debts as they are due I.e, insolvency

You didn't mention liquidation in your original post hence my comment

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GeordieTownie

GeordieTownie

Posted
Posted

No.

Insolvency is different to administration which is different to bankruptcy is what I meant.

Just because a company is insolvent it doesn't necessarily go into administration or become bankrupt. A company can be insolvent one day, but not the next, then insolvent again the day after.

Hence there is a difference between insolvency and administration.

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shaun mc

shaun mc

Posted
Posted

There is a difference between insolvency and administration, though both are governed by insolvency law

 

A company can have short term cash flows and not pay its creditors for a while, but it may not be insolvent.

 

Administration is a procedure whereby the company is managed as to seeing whether it has a future or not. Can it be re-capitalised, can part of it be sold off to raise funds to pay creditors, are there any buyers for it?. The administrator acts as a Chief Exec with the view to managing the assets of the company and managing its obligations to creditors

 

This is a whole lot different to a company declaring itself insolvent/bankrupt and then walking away from its obligations and re-surfacing with (at times) the same directors/managers that took the company down the insolvent route in the first place

 

One poster here is trying to justify Whitehavens actions of a few years ago in walking away from its debts, and then making out that Town were the same, when in reality, the 2 courses of action were worlds apart financially and morally

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LeeF

LeeF

Posted
Posted

No.

Insolvency is different to administration which is different to bankruptcy is what I meant.

Just because a company is insolvent it doesn't necessarily go into administration or become bankrupt. A company can be insolvent one day, but not the next, then insolvent again the day after.

Hence there is a difference between insolvency and administration.

Sorry but you are incorrect

Administration, liquidation and bankruptcy are all forms of insolvency as defined in UK law

BTW in the UK a company cannot become bankrupt only individuals can

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Hate the rec

Hate the rec

Posted
Posted

Cant see the point in all this !!! we are both ######, both at the foot of the table and both looking at relegation and people are more interested in what has gone on years ago ! does it matter  who went bust or not, if we both go down I cant see either club surviving, maybe people will be happy then !!!!!!

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town4me

town4me

Posted
Posted

Cant see the point in all this !!! we are both ######, both at the foot of the table and both looking at relegation and people are more interested in what has gone on years ago ! does it matter who went bust or not, if we both go down I cant see either club surviving, maybe people will be happy then !!!!!!

yes the future is now very uncertain as the drop will mean a significant cut in money and players will move on and some will probably retire too. This will inevitably hit already poor crowds and so income will be down. Playing hemel hemstead and the all golds is not going to be good. It better to thing of rescue plans rather than Insolvency and administration etc
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GeordieTownie

GeordieTownie

Posted
Posted

Well if haven cone down too it'll make things easier as they won't have the money to take our better players.

It'll be interesting to see how we do with a squad that's almost fully fit. Every team will get injuries but I think we've played Haven and Swinton at the worst possible time. Had we had a full squad and beaten those 2 teams things wouldn't look anywhere near as bad and we'll have 7 of the bottom 8 to play (who should be beatable looking at the Halifax performance) in the 8's.

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Anonymouse

Anonymouse

Posted
Posted

its a tough one , halifax was 2 weeks ago so some momentum could be lost and with all the players that are now available then what do you change from a squad that almost turned fax over apart from the one or two players that were poor in defence .

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unicorn106

unicorn106

Posted
Posted

Just been told that Jamie Doran was told by the club that there was no way he could play for Bennies last weekend, obviously he has just stuck two fingers up at the club and took no notice, We should get rid end of story.

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Bearintown

Bearintown

Posted
Posted

Just been told that Jamie Doran was told by the club that there was no way he could play for Bennies last weekend, obviously he has just stuck two fingers up at the club and took no notice, We should get rid end of story.

Was told by a St Bens player this week that Doran was in the squad but did not play

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Townie123

Townie123

Posted
Posted

Well if haven cone down too it'll make things easier as they won't have the money to take our better players.

It'll be interesting to see how we do with a squad that's almost fully fit. Every team will get injuries but I think we've played Haven and Swinton at the worst possible time. Had we had a full squad and beaten those 2 teams things wouldn't look anywhere near as bad and we'll have 7 of the bottom 8 to play (who should be beatable looking at the Halifax performance) in the 8's.

Who are these better players you speak of ?

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