Badger 0 Posted March 1, 2009 [quote user="Buckethead"]Sorry Badger the laws of this country will prevent Delia, MWJ or anyone else for that matter following the action you outline. Delia is just one creditor of a company with a large number of creditors and must take her place in the queue. The securitisation deal takes priority (after footballing debts) in the event of any enforced distribution of assets, Delia is well down the list and being a Director of a failed company in the case of entering administration due a very large disappointment in the event she enters a claim to the receiver. It is after all her fault as majority shareholder and director that the company failed in the first place, she would not get much sympathy from other creditors or the receiver themselves in the event of liquidation.[/quote]I agree that they wouldn''t have complete freedom of manouvre and obviously they couldn''t simply transfer assets to themsleves- this would be fraud! Nevertheless, they could still take steps to regain their money over a period of years including assets sales to increase profitability which they could use to pay dividends. The last thing that they would want is to drive the company into administration as this would limit the action they could take. The logical thing to do would to be to recoup it slowly, particularly as asset values increase again in future years. It is the worst case scenario, but if nobody made an offer for the club that satisifed them it is possible. A fans boycott would not force them out without such an offer - nobody can force them to sell their assets at the bottom of their value, which they might well judge to be the case during a recession, following relegation and a fan''s boycott. Financially they would be well advised to sit tight and wait for a reasonable offer, whilst in the meantime gleaning a lttle each year.I can''t see how this would be illegal "Buckethead." What is your view? Share this post Link to post Share on other sites
