Possible CVA rescheduling

[pauld]

...and fuck sake....they are leaving it a bit late for a decision surely, doesnt leave much time for a plan B

Bob Holt said in September (and IIRC repeated at the AGM) they don't have a Plan B - just pinned their hopes on a fantasy of renegotiating which isn't going to happen. If only there were a well-financed consortium waiting in the wings who did have the money to pay the CVA and ensure the club's survival beyond the summer ..... oh.

[Dazzza]

Cheers Tails.

Would that have any bearing on the situation if HMRC accepted the renegotiated CVA?

Does it work on a majority vote system or do all creditors have to agree to the new terms?

Even still the phrase pissing on your own doorstep springs to mind.

75% Dazza

Fred, is that 75% of the creditors or 75% of the debt total?

Its proportional to the amount owed Dazza, so its based monetary and not number of creditors

See on the Trust board that portion would be 10% so if the boys at HMRC accept a deal presumably that would then force the council to accept the deal?

So much for poor Bowden's charm offensive then.  

It’s all a bit mad.  Proposing to our largest creditor to restructure the CVA on the foundation of a future development yet by the same process pissing off the very people who hold the key to the development actually taking place.  :shock:

I’m not one for conspiracy theories……

[Simon Pieman]

Maybe it stands for Chippenham Voluntary Agreement

[Fred Elliot]

Cheers Tails.

Would that have any bearing on the situation if HMRC accepted the renegotiated CVA?

Does it work on a majority vote system or do all creditors have to agree to the new terms?

Even still the phrase pissing on your own doorstep springs to mind.

75% Dazza

Fred, is that 75% of the creditors or 75% of the debt total?

Its proportional to the amount owed Dazza, so its based monetary and not number of creditors

See on the Trust board that portion would be 10% so if the boys at HMRC accept a deal presumably that would then force the council to accept the deal?

So much for poor Bowden's charm offensive then.  

It’s all a bit mad.  Proposing to our largest creditor to restructure the CVA on the foundation of a future development yet by the same process pissing off the very people who hold the key to the development actually taking place.  :shock:

I’m not one for conspiracy theories……

HEAD NAIL HIT !