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Guilfoyle: "Rescue Group don't understand the situation"

Jan 29, 2006
3,421
0
Canterbury
Brendan Guilfoyle; (from thisisplymouth)

Mr Guilfoyle added: “If I need to speak to James Brent and the Contingency Group I will do, but it would be a considerable challenge to deliver their offer.
“I undertook to talk with the rescue group on Saturday but some of the correspondence with it suggests they don’t understand the situation.

Rather worrying - would have thought they'd be fully up to speed on the current situation, what the club faces & what is required to rescue the club..

Further affirmation that wheels ought to be put in place to set up a Pheonix club, as it's quite clear Heaney isn't going to stump up before tomorrow, and now it seems the Contingency Plan is unviable & doesn't understand what the hell's going on!
 
A

Anonymous

Guest
Pafcintheplace":xlhmieza said:
Brendan Guilfoyle; (from thisisplymouth)

Mr Guilfoyle added: “If I need to speak to James Brent and the Contingency Group I will do, but it would be a considerable challenge to deliver their offer.
“I undertook to talk with the rescue group on Saturday but some of the correspondence with it suggests they don’t understand the situation.

Rather worrying - would have thought they'd be fully up to speed on the current situation, what the club faces & what is required to rescue the club..

Further affirmation that wheels ought to be put in place to set up a Pheonix club, as it's quite clear Heaney isn't going to stump up before tomorrow, and now it seems the Contingency Plan is unviable & doesn't understand what the hell's going on!
we can only understand what you tell us brendan....................
 
Jul 15, 2006
3,787
9
Kenton, Devon
would have thought they'd be fully up to speed on the current situation, what the club faces & what is required to rescue the club

I'd hazard a guess and say that Brenda's talking about the time required for the rescue bid to put their package together. He needs cash now and not in 6 weeks time.
 
Jan 4, 2005
7,082
6
NEWQUAY
The flip side to any eventual possible liquidation under BG's stewardship would be the loss of goodwill towards the Partnership within the Football League fraternity, should the detail regarding the possible backing of the wrong horse in the Administration process become widespread. It could well affect the Partnership's capacity to attract future business in soccer clubs. Any potential 'finger burning' of BG at Home Park needs to be balanced against the potential loss of future fee income. I am sure BG is as conscious of this as we are.
 

Lesley Somerville

Lowey Sponsor
Jan 1, 2011
1,245
0
Plymouth
Hopefully the contingency group can respond to this - what is their understanding of the possibility of a rescue at this point? I understand Brent's reticence but this train has been coming down the track for some time now. What will he do tomorrow if the PB fails to deliver, as we all expect?
 
Dec 29, 2004
116
0
Millbrook
Pafcintheplace":2uuvvl37 said:
Mr Guilfoyle added: “If I need to speak to James Brent and the Contingency Group I will do, but it would be a considerable challenge to deliver their offer.
“I undertook to talk with the rescue group on Saturday but some of the correspondence with it suggests they don’t understand the situation.

So Heaney carries on the Brinkmanship with Guilfoyle.

And Guilfoyle plays the same way with the contingency group.

Pretty poor playground tactics considering what's at stake.
 
A

Anonymous

Guest
Pafcintheplace":3apfsxis said:
Brendan Guilfoyle; (from thisisplymouth)

Mr Guilfoyle added: “If I need to speak to James Brent and the Contingency Group I will do, but it would be a considerable challenge to deliver their offer.
“I undertook to talk with the rescue group on Saturday but some of the correspondence with it suggests they don’t understand the situation.

Rather worrying - would have thought they'd be fully up to speed on the current situation, what the club faces & what is required to rescue the club..

Further affirmation that wheels ought to be put in place to set up a Pheonix club, as it's quite clear Heaney isn't going to stump up before tomorrow, and now it seems the Contingency Plan is unviable & doesn't understand what the hell's going on!

I am sure I can speak informally for others on the Contingency Plan Committee. It is rather disappointing for Brendan Guilfoyle to suggest we 'don't understand the situation'. I can assure everyone that we all fully understand the situation that he has left the club should the BIL/PAFC 125 deal not complete tomorrow or before the end of the month.

His contractual obligation to extend the deadline to 26th August formally (and not doubt informally beyond that if there is still a realistic chance of a legal completion - perhaps waiting on Football League approval early next week) has left little or no time for any alternative acquisition to take place or the liability position to be resolved.
 
Dec 7, 2006
2,688
0
No matter which way you look at it, the perception has to be that Guilfoyle is an utter disgrace to his profession over the way he has bungled this entire process. It's just an endless game of lurching from one crisis to another. :banghead:
 

Mark Pedlar

Administrator
Staff member
Lowey Sponsor
Jul 28, 2010
5,824
18
martynargyle":3t1osdpx said:
That as it may be graham, but shouldn't brent already have the money needed incase he's asked to do a deal?
From where I'm standing it comes over as he need x amount of time to put funding in place, but he has known for many months of the money required to do the deal and other aspects too!
It comes over to me that is ill prepared, is this the case?

Naiively put but a really good point.
 
Sep 3, 2009
642
0
martynargyle":392zfc2t said:
That as it may be graham, but shouldn't brent already have the money needed incase he's asked to do a deal?
From where I'm standing it comes over as he need x amount of time to put funding in place, but he has known for many months of the money required to do the deal and other aspects too!
It comes over to me that is ill prepared, is this the case?

It sounds to me that the cashflow is not the problem - James Brent has the money (Buttivant might do too). What no-one is prepared to do is blindly fund the administrator before knowing if a deal can actually be done.

Guilfoyle can't have it both ways - if he wants an alternative line of funding, he has to give indications that conditions which he has know about for 4 months can be met.

No businessperson in their right mind would hand over cash in the way in which he seems to be demanding.
 
A

Anonymous

Guest
martynargyle":3en5a1id said:
That as it may be graham, but shouldn't brent already have the money needed incase he's asked to do a deal?
From where I'm standing it comes over as he need x amount of time to put funding in place, but he has known for many months of the money required to do the deal and other aspects too!
It comes over to me that is ill prepared, is this the case?

It is not a question of funding being in place. He has the necessary funding for his offer without borrowing. It is a question of securing all the necessary legal agreements with the administrator, the secured creditors, the Football Creditors etc within a reasonable timescale. He has been legally excluded from the process to achieve these agreements (because of the Exclusivity and Sale and Purchase Agreements) since the beginning of May. Time is of the essence.
 

The Doctor

Lowey Sponsor
Sep 15, 2003
6,320
17
Graham Clark":137kyp10 said:
martynargyle":137kyp10 said:
That as it may be graham, but shouldn't brent already have the money needed incase he's asked to do a deal?
From where I'm standing it comes over as he need x amount of time to put funding in place, but he has known for many months of the money required to do the deal and other aspects too!
It comes over to me that is ill prepared, is this the case?

It is not a question of funding being in place. He has the necessary funding for his offer without borrowing. It is a question of securing all the necessary legal agreements with the administrator, the secured creditors, the Football Creditors etc within a reasonable timescale. He has been legally excluded from the process to achieve these agreements (because of the Exclusivity and Sale and Purchase Agreements) since the beginning of May. Time is of the essence.

"his offer" being two critical words in the above passage of text. "His offer" will, of course, not be the same as the BIL offer - it may not offer the same payback to secured creditors, it may not offer the same level of remuneration to PandA, etc. For that reason, it may ultimately not be acceptable, but if it is in any way better for creditors than liquidation (i.e. it offers them more money) then Guilfoyle must surely at least try to allow it to proceed. The difficulty must surely be that the price of persuading Guilfoyle to allow it to try to proceed will surely be the removal of all future financial liability for PandA. If James Brent could promise that, presumably at the same time picking up thew tab for the August and any ongoing staff pay, then apart from boredom on Guilfoyle's part, why the deal shouldn't be explored.
 
Feb 17, 2004
8,361
5
cheshire
The Doctor":25lqj8aj said:
Graham Clark":25lqj8aj said:
martynargyle":25lqj8aj said:
That as it may be graham, but shouldn't brent already have the money needed incase he's asked to do a deal?
From where I'm standing it comes over as he need x amount of time to put funding in place, but he has known for many months of the money required to do the deal and other aspects too!
It comes over to me that is ill prepared, is this the case?

It is not a question of funding being in place. He has the necessary funding for his offer without borrowing. It is a question of securing all the necessary legal agreements with the administrator, the secured creditors, the Football Creditors etc within a reasonable timescale. He has been legally excluded from the process to achieve these agreements (because of the Exclusivity and Sale and Purchase Agreements) since the beginning of May. Time is of the essence.

"his offer" being two critical words in the above passage of text. "His offer" will, of course, not be the same as the BIL offer - it may not offer the same payback to secured creditors, it may not offer the same level of remuneration to PandA, etc. For that reason, it may ultimately not be acceptable, but if it is in any way better for creditors than liquidation (i.e. it offers them more money) then Guilfoyle must surely at least try to allow it to proceed. The difficulty must surely be that the price of persuading Guilfoyle to allow it to try to proceed will surely be the removal of all future financial liability for PandA. If James Brent could promise that, presumably at the same time picking up thew tab for the August and any ongoing staff pay, then apart from boredom on Guilfoyle's part, why the deal shouldn't be explored.

Also, at the time of Brent's offer (April/May) the football creditors debt was much less than it is now due to the subsequent delays with the BIL "deal". .
 
A

Anonymous

Guest
I think some of us understand the 'situation' far better than you think we do Brendan.

Problem is, we can't prove any of it, so we remain tight lipped.

What I (and I'm speaking on my behalf here) think is, you're either the thickest administrator I've ever met (and I deal with a lot each year) or the craftiest (I think I'm legally safe, using that phrase).

I haven't decided which yet.

All I do know is, the quicker you exit OUR club, the better.
 
Graham Clark":2y4ua9s5 said:
martynargyle":2y4ua9s5 said:
That as it may be graham, but shouldn't brent already have the money needed incase he's asked to do a deal?
From where I'm standing it comes over as he need x amount of time to put funding in place, but he has known for many months of the money required to do the deal and other aspects too!
It comes over to me that is ill prepared, is this the case?

It is not a question of funding being in place. He has the necessary funding for his offer without borrowing. It is a question of securing all the necessary legal agreements with the administrator, the secured creditors, the Football Creditors etc within a reasonable timescale. He has been legally excluded from the process to achieve these agreements (because of the Exclusivity and Sale and Purchase Agreements) since the beginning of May. Time is of the essence.

Showing my ignorance but hasn't BIL failed to pay the full amount of monies to secure that agreement in which case why is it not null & viod???