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Let's face it, if Philip Green can pull over a CVA deal, then MA certainly could have done if he had bought DEB.
And again, PG has done this without going into administration first. Why did DEB not go straight into CVA discussions first?
Things are very quiet on the MA front - perhaps we will hear on developments tomorrow?
Hi Guys,
Just wondering if anyone had got any updates on poster 'sugarplumfairy' following his post about committing suicide when DEB went bust. It seems there were no further post from him since then.
I ha reported that to police but didnt recieve any updates from them either :(
Hi Guys,
Just wondering if anyone had got any updates on poster 'sugarplumfairy' following his post about committing suicide when DEB went bust. It seems there were no further post from him since then.
I ha reported that to police but didnt recieve any updates from them either :(
Very much looking forward to seeing if MA does make a move before 6th June in that case
Apple, because Mike Ashley has been set a deadline of 6th June to oppose the administration / CVA process.
There is also big potential changes in law coming through soon that should aid shareholders caught in this position
Applegarth why wasting time here this is finished
P!G is about to get his come-uppance over the US sex accusations and his blatant refusal to pay back the pension funds. British legal system has been seeking ways to get back at him...and they'll win.
IF Debs shareholdings is really finished, why is this bb still attracting posters. Is there a slim chance that we may get something back, just curious?
Well now PG is on the CVA horse, warning his group may also fall into administration.
why did DEB only seek CVA's after administration? It seems to me this was deliberately done to ensure debt holders kept control? But surely it was in everyone's interests to try and get the landlords to do deals first? Then administration could have been avoided?
Why was it done the wrong way round with DEB?
Thanks, i will look it up
Yes Ham - if you refer to the administrators report posted by Daniel F I am nearly sure it refers to this
Will people who sold a day before the suspension het their money back ? I am still unable to withdraw my funds. Thanks
Jwood - all those questions are answered in what I have said
Why a July call option on BMW? What do you expect to happen with BMW share price, when and why?
I really hope a case is taken by MA just for Pearls and SS. What kinda money yous guys lose? If you want a tip a July call option on BMW will get you your cash back.
in 12 months time when Debs is finally liquidated for small change I'm sure the bond holders will think why didn't we accept MAs offer. A combined HoF Deb Spd has a chance, but on it's own it will imo just continue to loose money and will lead to eventual capitulation. If MA does successfully prove in court that rules were broken in the events that lead to the company being taken into administration, then at least ex shareholders will manage to walk away with some form of compensation courtesy of those responsible.
And lastly re MA ................I guarantee if I entered and completed a business deal with the great business himself I would understand what it means to be bought and sold....I wonder if anyone else thought the same.........there was only one planned haircut here and I don't think MA had planned to go to the barbers!
Pearls - If you were aware of this sudden increase in debt and were stunned why did you not get out. I am not aware of the finer details of the accounts but 286 to 740mln are you sure? Did you not just say you were following MA and the BOD. If you bought shares based on your knowledge of the finances you still had time to exit based on this unforeseen information about the sudden increase in debt.
Re City AM article - yes it would give anyone some glimmer of hope but all he is saying is that based on his observation it was an appalling use of the PP process. The speed of matters was rapid. I understood though that the BOD/lenders had been seeking professional advice for months on matters so it wasn't as quickly put together as it is portrayed.........but hey seriously what would I know........that gent speaking on the matter is a pro in this line of work.
"Knigelk - Do you now decide who should post here? "
Yes that is exactly what he thinks. Has tried to shut me down many times, as with Daniel F. and a few others.
The fella is troll and a bully, goes around boards telling people when they can and can't post and what the should and should not post. Also a hypocrite as on record several times saying that only long term holders should post, despite having sold all his shares (apparantly).
Ignore him.
Knigelk - forget about debs....trading is gambling! Yes some 1-2% do it successfully. But if you do not know that forget about it.
Well I accept - especially during the last few weeks before delisting - that Debenhams had become "a gamble".. personally that's why I only traded small amounts on and off... the issue really is "some" shareholders rightly or wrongly took MA at his word and expected a bid so hung on for a possible 100% profit to 5p. It never happen so he has some explanation to do like other parties imho
Knigelk - Yes you are correct I would be down about the whole thing, but I would hope I would do a number of things, accept what had happened and try to learn from my mistake. I would hope I would be able to have a good look at myself and say lesson learned I am not the hot stock investor I thought I was. Maybe I just need to buy index funds. If I cant stop buying stocks why not? Gambling is fun but it may be a problem. Do I know the difference between gambling on stocks and investing in stocks? Do I understand what graham is saying when he talks about the margin of safety concept. Maybe I just don't have the temperament to be buying stocks!
Knigelk, I have to admit that if MA does not contest things by 6th June then we will all have to concede defeat in the near term.
We will then be left with waiting for the administration to play out. If, by some miracle, administrators are able to trade the company through things for a while and then sell off / float at a profit, perhaps we will then see some light. However, given the rapid rise in debt from £286m to £740m deliberately to stop shareholders retaining ownership, it looks like all the benefit of any recovery will be going to bondholders pockets.
IfIonlyknew, whilst I note your comments about so called simple maths and finance, how do you explain how the banks allowed DEB to increase their debt from £286m in December to £740m in March? You can have a go at us shareholders if you want, but we are only following the larger players here like MA and the BOD. Frankly, it makes no sense for the banks to ramp the debt up by this amount and then immediately put DEB into administration???? Who signs off these things? How did anyone in charge of lending at one of the banks condone this? And it arose so quickly without adequate clarity for ordinary shareholders either who were stunned when they found out in early April.
That CityAM article is not by me, but by a very respected chairman of a leading turnaround and restructuring specialist who I would imagine has markedly more experience in these matters than either of us. If he thinks the whole thing stinks, then who am I to disagree?
Last point - this case was unique... the major shareholder made countless offers including cash injections and various ways that the company could remain listed - no wonder he is considering the legal route - personally I doubt he would be successful in any venture...