Rangers Then, Sevco Now, Scotland's Shame Forever....

[DollyLongstaffe]

Pretty sure I saw a statement from someone on the Hun board or similar a few weeks back saying ultimately loans would be converted to shares?

Administration surely v unlikely if creditors are effectively the owners of the club? Purpose of administration really to run the business for the benefit of the creditors rather than the owners, doesn't seem a likely step if they are broadly the same people.

There could of course be some in-fighting if some creditors feel proposed terms of the share conversion are giving them less than their due and they might even think they'd do better in administration. Might be some brinkmanship. But unless one or more creditors goes seriously rogue, they will surely stop short of doing anything that seriously damages the club. They'd have to look people they mix in the eye afterwards and we can imagine the type of people they'd be.

[donsdaft]

Administration surely v unlikely if creditors are effectively the owners of the club? Purpose of administration really to run the business for the benefit of the creditors rather than the owners, doesn't seem a likely step if they are broadly the same people.

I'd have thought it makes it more likely.

[afc1903mad]

I'd have thought it makes it more likely.

Why?
Surely the most likely scenario is not for them to give up control to get back soft loans, but to convert said soft loans into shares giving them more ownership

[DollyLongstaffe]

I'd have thought it makes it more likely.

Please explain. The point of Administration is broadly to protect creditors from owners who might put their own interests ahead of creditors interests. If the owners ARE the creditors then why would they need protection from themselves?

[The_Moog]

I hope Sevco do go into Administration. It would finally tie up the SFA/SPFL feelings on whether they were a "new" club or the "existing" club.

The rules State :

Any club that enters administration will receive an immediate 15-point deduction, with a five-point deduction the following season.

And, if there's a second case, the penalties would be 25 points straight away, with 15 deducted the following season.

So, the same club = 25 point deduction and new club = 15 point deduction.

Its a win-win for everyone if they ever go under

Sadly - and I'm happy to be corrected if wrong - I think there is a time limit on the "second insolvency event" scenario - something like 25 point deduction applies if there are 2 insolvency events within a 5 year period.

So given the huns died over 5 years ago I think the tribute act may be able to dodge that particular scenario by playing the over 5 years between insolvencies card - thus only taking a 15 point deduction allowing the continuation myth to roll along.

As I say happy to be corrected as nothing would give me greater pleasure than to watch them squirm around that particular gem - but I think they have it covered unfortunately

[Aldo1983]

Sevco aren't going bust.

[Mason89]

Every day for five years they’ve been a couple of weeks away from going bust. This thread is exactly the same as the thirty before it.

[Pacman1903]

Fars Jessi at. He was well on the ball when the originals shat themselves and died. He was like a soothsayer

[Aldo1983]

Fars Jessi at. He was well on the ball when the originals shat themselves and died. He was like a soothsayer

Didn't he also predict they wouldn't make it to the premier league? Just like everyone else that used to comment on the threads. They won't go bust. As much as it would make me piss myself inside and out.

[Pacman1903]

Murty must stay