New beginnings - 25% Truth, 80% Bollocks

[tans]

Hope we are paying for things on time

[Power to people]

Our current CFO is with us because she was no longer needed at Axis once they liquidated it to avoid paying a big creditor, right?

Don't forget the other staff that were brought over from Axis to the club - I'm assuming as they was given employment elsewhere then no redundancy payment was due thus saving Clem more money ?!

At what point does it become impossible for Clem to continue funding the club, not sure what sort of personal funds he has, but they would take a huge dent if he is forced to pay by the liquidator.

Would he then be forced to borrow against stfc ?

I remember back to his statement when it was found out originally  - nothing to see here its all normal practise

https://www.swindonadvertiser.co.uk/news/23677047.liquidator-appointment-within-axis-nothing-concerned-about/
 

[Hyabb17]

Just seen that our credit facility has been removed. Basically meaning that if you as a supplier give a credit account you can’t get credit insurance against it so the risk is all yours. I deal with this with my job.

[Peter Venkman]

Obviously, it's not like Clem was claiming to be 100% owner in the months prior to it popping up on companies house. Glad the EFL bought it, last thing we'd need is a more severe punishment

I had heard that the club were only expecting a slap on the wrists or at most a £2k fine.

We all know the fine is directed at Clem but the club will ultimately pay it.

[RobertT]

Million dollar question however from what I’ve been told they have. I’ve been told that the pitch will not be in a good state for the preseason game sat. If I’m proved wrong then I’ll happily take all the back….the exact words I was told was “it’s a complete shambles”

Claim your prize - I thought I remembered someone bringing up an issue with the pitch pre season.  Found this while looking at some of the posts around the time the Liquidator being appointed was published.

[Leggett]

Hope we are paying for things on time

Why change the habit of a lifetime, or at least the last 3 years... cough ALLEGEDLY cough

[JoeMezz]

I had heard that the club were only expecting a slap on the wrists or at most a £2k fine.

We all know the fine is directed at Clem but the club will ultimately pay it.

Or the old company will be liquidated?

[Kent_Red]

Accounts need to be produced on a going concern basis (usually the directors have confidence or visibility of funding for at least the next 12 months from the date the accounts are signed) apart from in the following scenario:

- management either intends to liquidate the entity or to cease trading, or has no realistic alternative but to do so.

If a director signs a set of accounts stating they are a going concern and it later becomes clear that the business wasn't then they can be personally liable for any debts the company has, as well as potentially being a criminal offence. 

Quite often late filed accounts arise from the fact that directors are still assessing going concern.  Not saying that this is the case here but could be one reason for the delay.

[ChalkyWhiteIsGod]

He said a few days ago ‘fans should get excited. We have McGurk next season . . .’

Might stay up then.

[ChalkyWhiteIsGod]

Hope we are paying for things on time

Well lots of insinuations on twitter that we're not paying the JV we've seen, or at least not paying on time.

[ChalkyWhiteIsGod]

Just seen that our credit facility has been removed. Basically meaning that if you as a supplier give a credit account you can’t get credit insurance against it so the risk is all yours. I deal with this with my job.

They can't keep calling them legacy issues. These issues are Clems.

[ChalkyWhiteIsGod]

Accounts need to be produced on a going concern basis (usually the directors have confidence or visibility of funding for at least the next 12 months from the date the accounts are signed) apart from in the following scenario:

- management either intends to liquidate the entity or to cease trading, or has no realistic alternative but to do so.

If a director signs a set of accounts stating they are a going concern and it later becomes clear that the business wasn't then they can be personally liable for any debts the company has, as well as potentially being a criminal offence. 

Quite often late filed accounts arise from the fact that directors are still assessing going concern.  Not saying that this is the case here but could be one reason for the delay.

People laughed when that slide show had posting accounts as a club aim like it was something to be proud of.

Little did we know how low the bar really was.

[Bob's Orange]

Well lots of insinuations on twitter that we're not paying the JV we've seen, or at least not paying on time.

I've heard that - not sure how true that is.

Another rumour I heard, which I am sure is bullshit is that recently we couldn't train on Beversbrook (not entirely sure why - unpaid bills I think) and had to train on the pitch. I reckon that's total conspiracy though.

[ron dodgers]

well I heard that the drainage they installed has collapsed

[Posh Red]

well I heard that the drainage they installed has collapsed

A bit like our expectations then