Administrators Report : Wed Jan 11, 2017 4:50 pm  

Just reading it now and it makes horrendous reading.

I'll post the full report later but total debt liabilities owed by Marc Green and Steve Ferres £2,200,000.

[Bullseye]

Re: Administrators Report : Wed Jan 11, 2017 4:54 pm  

I can't wait

Re: Administrators Report : Wed Jan 11, 2017 4:54 pm  

Unsecured creditors only £1m though. Hmrc at £400k and isc at £215k the only 6figure creditors, apart from MG himself. And we were debt free 2years ago. And as I said yesterday. PBC estimated fees £220k

Re: Administrators Report : Wed Jan 11, 2017 4:56 pm  

So MG is claiming over half the debt is to himself, which seems absurd, on the face of it

Re: Administrators Report : Wed Jan 11, 2017 4:56 pm  

What the f**k has he spent all that on? Unbelievable.

Re: Administrators Report : Wed Jan 11, 2017 5:15 pm  

Highlander wrote:

Unsecured creditors only £1m though. Hmrc at £400k and isc at £215k the only 6figure creditors, apart from MG himself. And we were debt free 2years ago. And as I said yesterday. PBC estimated fees £220k

Administrator paid at £377 an hour. MG owed £750,000 in directors loans. St Helens and Leeds Rhinos owed money.

Re: Administrators Report : Wed Jan 11, 2017 5:16 pm  

Why for Saints and Rhinos? Any reasons given?

Re: Administrators Report : Wed Jan 11, 2017 5:19 pm  

What is interesting in the administrators report is that the administrators managed to save £132,000 from a third party believed to be Marc Green. This money along with a loan of £25,000 from the RFL paid the November wages.

Re: Administrators Report : Wed Jan 11, 2017 5:20 pm  

Even in November with player departures the wage bill was £182,000. Steve Ferres and later Stuart Duffy have serious questions to answer over this.

Re: Administrators Report : Wed Jan 11, 2017 5:26 pm  

KCNBABT wrote:

Even in November with player departures the wage bill was £182,000. Steve Ferres and later Stuart Duffy have serious questions to answer over this.

Why Duffy?

Isn't Duffy simply a player welfare manager/football manager

Does he have access to finances or even make financial decisions?

I always thought not.