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STFC_Gazzza
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« on: Saturday, June 30, 2007, 08:32:51 » |
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From Todays Adver
SWINDON TOWN: Time up for Town on CVA
The clock was ticking today as the deadline for the CVA payment arrived - but there were still no answers from the club about how the debt will be settled.
No official statement had been made as the Swindon Advertiser went to print, although a club spokesman reiterated that Town fans "should not be worried" about the future of the club, everything is in order and a full explanation on how the outstanding debt will be settled would be made public on Monday or Tuesday of next week.
The Advertiser has tried to contact CVA supervisor Andrew Andonikou every day for the past week but he has been unable to take our calls.
Under the rules of the Company Voluntary Arrangement, Town must pay the remaining debts to their creditors, including Swindon Borough Council, by June 30, 2007.
A final payment of £900,000 would fulfil the club's obligations under the terms of the CVA which was agreed five years ago.
The possible consequences of failure to meet this deadline is an application to have the club wound up.
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TalkTalk
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« Reply #1 on: Saturday, June 30, 2007, 09:08:51 » |
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Good sports editorial by Steve Butt (in Andy Cryer's absence) in today's Adver asking the questions.
I will type it in later if it doesn't appear online.
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TalkTalk
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« Reply #2 on: Saturday, June 30, 2007, 10:36:20 » |
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Not online, so here you go: Swindon Advertiser
Sports Comment Saturday 30th June 2007
By Steve Butt, Sports Editor
DAY OF RECKONING HAS ARRIVED BUT ANSWERS HAVEN'T
Today is D-Day for Swindon Town's CVA payment.
Of course it's nothing to worry about, it's only the small matter of a £900,000 payment after all!
Over a month ago, Company Voluntary Arrangement supervisor Andrew Andronikou spoke confidently about "securing the club's future for the next three to four years" with talk of a new major investor.
At the time Andronikou claimed a deal with the new mystery investor could be announced within three to four weeks.
Six weeks have now passed since Andronikou made those claims and, unless we have missed something, I can't see any sign of the new investor can you?
Mutterings of another new investor emerged this week. Fine, but who? when? how?
And with the CVA payment now due, just how is the payment going to be made?
Maybe a new investor will bail the club out at the 11th hour, then again maybe they won't!
We've waited six weeks for news on the new investor amd details of how the CVA payment will be made but still nothing.
I'm sure, by hook or by crook, the payment will be met or maybe it will be renegotiated as Andronikou has suggested possible previously.
Of course, the threat of the club being wound up is very real.
However, whether the CVA is met or missed today, I'm pretty confident that the club won't be wound up just yet.
But as we have previously stated, the silence from Mr Andronikou and the club is deafening.
For the record, the Swindon Advertiser has tried to contact Mr Andronikou practically every day since he was last quoted.
Unfortunately though, despite all our efforts, Mr Andronikou has not made himself available for comment.
Shame, especially as Mr Andronikou is supervising the CVA and is realistically the only person who is qualified to comment on the matter.
As busy as I am sure he has been, Mr Andronikou SHOULD (Adver caps) have commented on this matter by now.
Surely it is his duty to do so?
The fans deserve reassurance about how the CVA payment will be made, renegotiated or how the long-term future of the club will be secured.
Sadly such comments have not been forthcoming and today is day of reckoning.
But now, after all the silence a statement from the club and Mr Androniku is well overdue.
Such a statement is now a necessity and Town fans are now, more than ever before, well within their rights to demand answers!
I'm sure the relevant answers will arrive by next week and, one way or another, this matter will be resolved. |
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ghanimah
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Posts: 3639
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« Reply #3 on: Saturday, June 30, 2007, 10:37:21 » |
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Cheers Alan
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"We perform the duties of freemen; we must have the privileges of freemen ..."
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pauld
Aaron Aardvark
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Posts: 25436
Absolute Calamity!
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« Reply #4 on: Saturday, June 30, 2007, 10:37:38 » |
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Busybody
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Spud
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« Reply #5 on: Saturday, June 30, 2007, 10:37:56 » |
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The Advertiser has tried to contact CVA supervisor Andrew Andonikou every day for the past week but he has been unable to take our calls.  |
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horlock07
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Posts: 18730
Lives in Northern Bastard Outpost
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« Reply #6 on: Saturday, June 30, 2007, 16:17:45 » |
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Well there you go its the Advertisers fault - Poor Andrew A has been trying to save the club but has been forced to spend the entire week trying to avoid speaking to them. He would have obviously managed to get investors if he didn't have to deal with all those distractions.
I await the statement next friday...
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Samdy Gray
Dirty sneaky traitor weasel
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« Reply #7 on: Saturday, June 30, 2007, 16:24:30 » |
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It's ok, I'm the mystery investor.
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sonic youth
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« Reply #8 on: Saturday, June 30, 2007, 16:32:09 » |
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i'm the mystery investor!
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Simon Pieman
Original Wanker
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« Reply #9 on: Saturday, June 30, 2007, 16:33:01 » |
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I know who the mystery investor is.
His initials are NE
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Roddy_Radiation
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« Reply #10 on: Saturday, June 30, 2007, 16:39:22 » |
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No, I'm the mystery investor!
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Samdy Gray
Dirty sneaky traitor weasel
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« Reply #11 on: Saturday, June 30, 2007, 16:40:21 » |
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Fuck off, I'm the mystery investor.
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Simon Pieman
Original Wanker
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« Reply #12 on: Saturday, June 30, 2007, 16:41:13 » |
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Yes Noel
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Fred Elliot
I REST MY FUCKING CASE
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« Reply #13 on: Saturday, June 30, 2007, 16:42:30 » |
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Im the mystery investor and so's my wife
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Samdy Gray
Dirty sneaky traitor weasel
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Posts: 27137
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« Reply #14 on: Saturday, June 30, 2007, 16:42:50 » |
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