When will the takeover go through? The Waiting Game...

[defender05]

Some of the principles of the first DD can form a basis for this but it really depends on if we can get the same companies to do it. We’re bound by procurement frameworks and legislation but broadly speaking, best case scenario is that DD could be quicker than starting from scratch.

So they could accept the deal and then after another few months of DD the deal could still fail to be accepted.

It's almost like COSU are the only part of this transaction who actually care if the club carries on. More free flats for the council if it falls through and more for the Martins in general.

 

[Richard Hearn]

If only there was a latter day Dickens around to write about this sorry saga.

He would probably reject it as too far fetched.

 

[Holy Joe]

So they could accept the deal and then after another few months of DD the deal could still fail to be accepted.

It's almost like COSU are the only part of this transaction who actually care if the club carries on. More free flats for the council if it falls through and more for the Martins in general.

There's always the possibility of deals falling through. It's about minimising that possibility.

Look at FF, Ron has had planning permission granted, twice, and a leasing agreement with the council, once, yet here we are!

 

[Linda Loan Shark]

Is that back to 6-8 weeks if you can’t secure the same DD partner + time to secure the partner - a few weeks? Can you stipulate in the tender agreement to base off of that last due diligence so they don’t start from scratch?

So another 6 to 8 weeks if we survive this week. We go again! Lets kick that can for the final time. Its the hope that keeps you going. Hopefully one final push

 

[Linda Loan Shark]

Some of the principles of the first DD can form a basis for this but it really depends on if we can get the same companies to do it. We’re bound by procurement frameworks and legislation but broadly speaking, best case scenario is that DD could be quicker than starting from scratch.

So who pays for the new DD? Ron?

 

[Target man]

So who pays for the new DD? Ron?

Ron ..... pay ...... are you OK?

 

[in the know]

I believe the judge at the next WUP has to approach it without the prejudice of the previous one having been marked 'final'. So my worry is that if he or she looks at the progress on the takeover deal, he or she will see that if anything it's gone backwards to the pre DD stage with no certainty of a takeover and debts getting paid.
Thats if we make it to the WUP (which even if COSU walk away, we will - without life support and in a very bad way.)
I think if everything limps along as fortunately as possible this week, we will need council , COSU and RM representation at the WUP hearing

 

[Shrimper]

So another 6 to 8 weeks if we survive this week. We go again! Lets kick that can for the final time. Its the hope that keeps you going. Hopefully one final push

And then another delay after that too knowing our luck

 

[Target man]

And then another delay after that too knowing our luck

Well one thing is certain.
Once again pre-season is interrupted. We are far behind any competitors with regards to squad building and it's going to be a similar season to last, with the chances of promotion now very slim. At least two more seasons in this damn league..... if we do survive that is.
Thanks Ron.

 

[stortford]

Unfortunately for the timescale no professional firm appointed to carry out DD is going to blindly adopt the work another firm has done previously, even if it’s the exact same contract. The new firm will be the one whose name is on the DD and the one who has the risk of being pursed if something blows up at a later date. If the client was a private business then they could just re-appoint the previous DD firm but as Cllr Cowan says above SCC don’t have that option.

 

[Linda Loan Shark]

Well one thing is certain.
Once again pre-season is interrupted. We are far behind any competitors with regards to squad building and it's going to be a similar season to last, with the chances of promotion now very slim. At least two more seasons in this damn league..... if we do survive that is.
Thanks Ron.

The biggest achievement is if we have a club by the end of the 24/25 season. I think at this stage thats what most of us will take. Club survival this season and if we have new owners, push for promotion in the 25/26 season

 

[Somerset Ex-TTB]

Well one thing is certain.
Once again pre-season is interrupted. We are far behind any competitors with regards to squad building and it's going to be a similar season to last, with the chances of promotion now very slim. At least two more seasons in this damn league..... if we do survive that is.
Thanks Ron.

Don't agree, without the points deduction we would of made the play-offs last year. We have only currently lost Powell from the squad, so we should at least be making the play-offs.

 

[fbm]

I believe the judge at the next WUP has to approach it without the prejudice of the previous one having been marked 'final'. So my worry is that if he or she looks at the progress on the takeover deal, he or she will see that if anything it's gone backwards to the pre DD stage with no certainty of a takeover and debts getting paid.
Thats if we make it to the WUP (which even if COSU walk away, we will - without life support and in a very bad way.)
I think if everything lumps along as fortunately as possible this week, we will need council , COSU and RM representation at the WUP hearing

In my opinion the hearing will be a formality. It will have either have been paid off by COSU or they'll have walked away and we will be wound up.

Ron won't be interested. He isn't fighting our corner any more.

 

[Tinks]

What a bloody mess and webb this man has weaved when he supposedly “loves the club”

I really despair with it all

 

[defender05]

In my opinion the hearing will be a formality. It will have either have been paid off by COSU or they'll have walked away and we will be wound up.

Ron won't be interested. He isn't fighting our corner any more.

If it is paid off by COSU then we will have the rest of Creditors filing for a WUP the next day if they are not paid too.

 

[defender05]

There's always the possibility of deals falling through. It's about minimising that possibility.

Look at FF, Ron has had planning permission granted, twice, and a leasing agreement with the council, once, yet here we are!

Let's be honest if they weren't getting any free flats/housing the council wouldn't be interested at all.

 

[SUBBlue]

What a bloody mess and webb this man has weaved when he supposedly “loves the club”

I really despair with it all

Same here.
It all looked so positive when Justin & COSU first came on board, really felt there was a way forward.

Of late the glass isn’t just half empty, it’s down to the dregs.

 

[Target man]

Don't agree, without the points deduction we would of made the play-offs last year. We have only currently lost Powell from the squad, so we should at least be making the play-offs.

Can appreciate that, but we had many tired legs end of season and you can't keep asking the same miracles from the players. I guess we'll likely be looking at loans to bolster the squad once embargo is removed .... again.

 

[JB Shrimper]

Can appreciate that, but we had many tired legs end of season and you can't keep asking the same miracles from the players. I guess we'll likely be looking at loans to bolster the squad if embargo is removed .... again.

 

[meerkat54]

Same here.
It all looked so positive when Justin & COSU first came on board, really felt there was a way forward.

Of late the glass isn’t just half empty, it’s down to the dregs.

I think my glass is now down to beer fumes.