Re: Players meeting with new owner today : Fri Jan 06, 2017 12:42 pm  

The budget doesn't stretch to scissors anyway.

Re: Players meeting with new owner today : Fri Jan 06, 2017 12:45 pm  

vbfg wrote:

The budget doesn't stretch to scissors anyway.

Tear your cloth accordingly, with your teeth. Allowing you to use scissors would be unfair on everyone else.

Re: Players meeting with new owner today : Fri Jan 06, 2017 12:47 pm  

You can have up to 50% of a pair of scissors, depending on income.

Re: Players meeting with new owner today : Fri Jan 06, 2017 12:48 pm  

Bullseye wrote:

I can understand your frustration and anger but will creditors be better off if the company is liquidated?

Are you saying Richardson (a very wealthy man, unlike Green) is one of Green's cronies? How is he? What are you alleging?

A lot of this fiasco is down to the fact that the administrator is trying to rush this through and the RFL are trying to rush something else through. This is all so needless really and more likely to cause admin 4. I always said we'd be better waiting until 2018 and starting in League 1. That's not on the agenda though so we are where we are. It's a situation of the RFL and the administrator's making.

I think the current squad of 20ish is possibly capable of staying up with a few loan additions. If any more go then it's a certainty they won't. So you're saying it's lame duck or nothing then?

That's going to be admin 4 too.

If what elred is saying is true I would expect the rfl to suspend the club from the sport til further notice so 2018 is probably back on the agenda

Re: Players meeting with new owner today : Fri Jan 06, 2017 12:48 pm  

The only possible response from the RFL that I can see if they want this sorting by the start of the season is something like:

"We are delighted to announce that we have found a last minute buyer for the Bradford Bulls prior to the formal liquidation of the company. We have previously conducted formal checks to ensure that the new owners successfully meet our stringent criteria and are able to move the club forward. As the club are no longer being formally liquidated and the new owners have put forward a suitable business plan to satisfy creditors, the Bulls will remain in the championship although will have to have a 6 point deduction for entering administration. We will support the new owners to ensure they continue to develop the club and offer the new company the same financial support in terms of funding and salary cap that all other championship clubs have been offered."

Re: Players meeting with new owner today : Fri Jan 06, 2017 12:50 pm  

debaser wrote:

The only possible response from the RFL that I can see if they want this sorting by the start of the season is something like:

"We are delighted to announce that we have found a last minute buyer for the Bradford Bulls prior to the formal liquidation of the company. We have previously conducted formal checks to ensure that the new owners successfully meet our stringent criteria and are able to move the club forward. As the club are no longer being formally liquidated and the new owners have put forward a suitable business plan to satisfy creditors, the Bulls will remain in the championship although will have to have a 6 point deduction for entering administration. We will support the new owners to ensure they continue to develop the club and offer the new company the same financial support in terms of funding and salary cap that all other championship clubs have been offered."

Wow youve given fat Nige something to copy and paste!!! Unless you are in the know too................................

Re: Players meeting with new owner today : Fri Jan 06, 2017 12:55 pm  

Bullmans Parade wrote:

Thanks FA that's the kind of response I've been waiting for. I had a feeling i was misunderstanding things and was looking for someone knowledgeable enough to clear it up for me!

So just to clarify, is the "club" effectively just an alias for the holding company? Therefore when the RFL grants membership it is to that holding company who are simply "also known as" the club?

"The club" is used in different ways at different times. Nothing new so far as RFL concerned.

However for the formalities, there is the club which is the limited company that owns the business; and there is "the owner" which is the person who controls the limited company and needs to pass the fit and proper test. And of course as we know in Omar's case, was also required to sign up to personal guarantees as well.

There's not much simple about membership. You have to be either a subscriber to the Memorandum of Association of what is now RFL (Governing Body) Ltd (which was set up at around the turn of the century when the unincorporated RFL was in serious danger of going bust, to protect the members from potential liability to creditors - ironic that).

If there is an insolvency event or indeed a change of ownership the Board of RLFGBL has the right (but not obligation) to terminate the membership. In insolvency it also has the right to readmit that Member or admit a new member on any terms it thinks fit, including sanctions; and as the more anal of you may recall, in the case of re-admissions, may also deem that membership continued as if membership had not ceased at all.

The Board also has the right (but not obligation) to state in advance of acquisitions, insolvency etc. whether a member would be readmitted or a new member admitted and if so on what terms.

I'd without more therefore assume that the new buyers have already been given the nod by the RFL, rather than blind-siding them, especially as the powers are discretionary and you never want to be on the wrong side of a body who has complete discretion over your case!

Re: Players meeting with new owner today : Fri Jan 06, 2017 1:00 pm  

vbfg wrote:

You can have up to 50% of a pair of scissors, depending on income.

You're not allowed to start with scissors, you can start with two rocks and work your way up like everybody else

Re: Players meeting with new owner today : Fri Jan 06, 2017 1:01 pm  

vbfg wrote:

You can have up to 50% of a pair of scissors

So, a blade with a handle?

Re: Phoenix from the flames? : Fri Jan 06, 2017 1:04 pm  

Will the club be retaining the 'Bulls' brand, although I would like to see you revert back to 'Northern', if of course a new co comes to fruition.