At what point is Brenda obliged to give up on the PB?

[storming]

As usual a good post Graham, but can you explain the following:


"In the next ten working days for the Sale and Purchase Agreement with Bishop International Ltd and PAFC (125) Ltd has to be completed"


Who has set this deadline and why? I can't believe that it's the Administrators or the FL, both of whom allowed Crystal Palace to kick off last season's fixtures while still in Administration, so where's the deadline coming from?

It's the deadline, set by BG, that was going to be the end of this week until it was changed again; so, no doubt, it will be changed again.

And

Brendan Guilfoyle, partner at The P&A Partnership, said: "John Russell, Christopher White and I were appointed as joint administrators of Plymouth Argyle Football Company Limited on March 4, 2011. Our objective was to achieve a sale of the club before the start of the 2011-2012 season which begins on August 6, 2011. That gave us just five months to conclude a sale which many would consider a difficult task. "In contrast, Bishop International Limited provided us with proof of significant immediate funding, together with a solicitor's letter confirmation that further funding would be available to complete the transaction in due course. Bishop International Limited subsequently entered into a six-week exclusivity period and have provided us with a substantial funding contribution.

 

[oggyale]

I just wish this take-over saga would come to a conclusion soon,i am getting fed up with it all now.

Deep down,i have a fear that the club will fold if it all goes wrong with the PB and also if problems arose with the rescue plan.

:banghead:

 

[grovehill]

As usual a good post Graham, but can you explain the following:


"In the next ten working days for the Sale and Purchase Agreement with Bishop International Ltd and PAFC (125) Ltd has to be completed"


Who has set this deadline and why? I can't believe that it's the Administrators or the FL, both of whom allowed Crystal Palace to kick off last season's fixtures while still in Administration, so where's the deadline coming from?

It's the deadline, set by BG, that was going to be the end of this week until it was changed again; so, no doubt, it will be changed again.

And

Brendan Guilfoyle, partner at The P&A Partnership, said: "John Russell, Christopher White and I were appointed as joint administrators of Plymouth Argyle Football Company Limited on March 4, 2011. Our objective was to achieve a sale of the club before the start of the 2011-2012 season which begins on August 6, 2011. That gave us just five months to conclude a sale which many would consider a difficult task. "In contrast, Bishop International Limited provided us with proof of significant immediate funding, together with a solicitor's letter confirmation that further funding would be available to complete the transaction in due course. Bishop International Limited subsequently entered into a six-week exclusivity period and have provided us with a substantial funding contribution.

So not so much a deadline more an aspiration!

 

[pepilgrim]

It seems to me this rapidly changing circumstance, the swan urgently paddling away but calm on top, shows many facets of Argyle's perilous position and the energy of many trying to preserve our club whilst suspicious of those apparently holding the future existence of PAFC in their pockets.

Who will blink first and what should we make of the hint that supporters will be "pleasantly surprised" by the proposed purchasers?