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In simple terms, the most likely outcome for the heavily insolvent company is that Michael Dell’s company as a lender with security will get their money from Derby. They have first call. The administrator’s charges will be astonishing, £100’s per hour even for unqualified staff for example...

Yep. And it is a different scenario from Derby. Morris got Derby to borrow from Michael Dell’s MSD UK Holdings (who also lent money to Sunderland), secured on the club, at a time when Morris thought he had an Arab billionaire buyer. Guess who covered it...

TB’s loan is interest free and he’s already converted £88m of it into share capital. Meaning he couldn’t seek repayment of it, even if he wanted to.

Any apologists for Mel Morris please note the above. The human angle is more compelling than his portrayal as a TB-esque good guy.

:thumbsup: Unless outside lenders creditors such as Dell or a bank have a cross charge/security over it too.

It was ‘sold’ to another company within the group, to try to circumvent FFP by creating the false impression of a profitable football business. It’s safe.

Unlike Derby, fair play to the EFL who after past shysters used Administration for a lovely clean start, they’ve toughened the rules. A two year transfers embargo and all the punishments transfer to the phoenix club/club under new owner’s.

To rub salt into the wound, El Presidente rejoiced over their plight on the local radio station. Ramstalk:

Excellent post, covering all bases.

Bloom stuck to the rules every club physically signed up to. Mel Morris was a sly **** who didn’t, by a huge margin, giving them an unfair advantage in the Championship over honest owners and clubs. Karma, it failed. By many accounts the long ongoing EFL cases against the club have deterred...