What we've learned today.
Depends on what you believe on the internet but let us start with what we think we know -
Basran Consortium calls off deal
BBC Radio Manchester Sports reports that Forest Green owner Vince commences court action against us.
HMRC winder due on Wednesday - amount outstanding £1.2 million.
No change of ownership whilst Winder on going.
Only payment of Winder can be made by owners of the club which still in the hands of KA (Inner Circle Investments) even though he has defaulted on Eddie Davies personal loan to him for which he put up as collateral the ownership shares.
Whatever happens KA owes Eddie Davies/Moonshine circa £8 million.
There appears to be something like £16m of secured creditors that are owed money from the club (James, Warburton, KA(?), the bank, others?) and something like £13 million of unsecured (HMRC, police, Business Rates, Heathcote, etc).
The EFL through its 'golden share' in all clubs in the league will not permit Administration taking place without the means ALL secured creditors being paid in full and all unsecured creditors paid a minimum of 25% - so whoever wants Administration needs to have something like £20 million, plus £1.5 million per month to finance the club during Admin. KA hasn't got anything like that.
Basran was trying to but the club by funding the money KA needs to clear off the lien on the shares (about £8 million) and come to deals with all the other creditors - seems they couldn't find enough to afford that (at least at this stage of the saga), even with James (and probably Warburton) not pushing for their secured debts.
If nothing changes at the £1.2m HMRC Winder isn't paid on Wednesday - it's liquidation.
However it needn't end that way - and almost certainly won't.
It is more likely that someone will buy the debt owed by KA to Eddie from Moonshift (probably for much less than the £8 million outstanding. This will mean KA will still need to find £8 million to pay the new owner of his debt (as that amount won't change). This will probably be done on the day before or even the morning of, the Winder.
A formal bid for the company will then be announced and thus delay the Winder.
Finally a formal notification to KA that in 14 days his shares will be redeemed due to default on the loan.
I do have one or two loose ends I can't quite tie up about this but no doubt things will be made clearer in due course.
I think that is how I've understood correctly most of what I've read.
Onwards and upwards still.