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Title: luton go into administration Post by: sonic youth on Thursday, November 22, 2007, 17:33:06 breaking news on SSN - 15 point deduction forthcoming it would appear
Title: luton go into administration Post by: Batch on Thursday, November 22, 2007, 17:36:45 10 points for admin isn't it?
Title: luton go into administration Post by: Iffy's Onion Bhaji on Thursday, November 22, 2007, 17:39:02 Christ :shock:
Title: luton go into administration Post by: sonic youth on Thursday, November 22, 2007, 17:39:56 Quote from: "Batch" 10 points for admin isn't it? might be wrong, thought i'd heard fifteen. Title: luton go into administration Post by: Batch on Thursday, November 22, 2007, 17:42:49 Think it is still 10, either way it isn't good.
http://news.bbc.co.uk/sport1/hi/football/6736997.stm Title: luton go into administration Post by: Reg Smeeton on Thursday, November 22, 2007, 17:44:53 Take SSP off them.....when the embargo goes.
Title: luton go into administration Post by: STFC_Gazzza on Thursday, November 22, 2007, 18:24:09 10 point deduction for administration. They will likely get a further deduction due to their dodgy dealings.
Title: luton go into administration Post by: Summerof69 on Thursday, November 22, 2007, 18:30:23 I'm sure this is the second time that they've gone into admin, equalling our record.
Title: luton go into administration Post by: Peter Venkman on Thursday, November 22, 2007, 18:33:02 Thats not good at all for them, they have my sympathy.
Just hope its not us next. Title: luton go into administration Post by: Bedford Red on Thursday, December 6, 2007, 18:57:15 On our local news tonight; the players have agreed to defer their wages for 7 days.
The administrator basically said though that Luton need to beat Forest next week to get the 3rd round home time against Liverpool in order for the players to be paid. If they don't get paid within 14 days they are free agents and can leave at any time. Luton are losing £400K per month. Title: luton go into administration Post by: reeves4england on Thursday, December 6, 2007, 22:51:48 Quote from: "Bedford Red" On our local news tonight; the players have agreed to defer their wages for 7 days. :shock: Woahhhh. Not good! Got to feel for them.The administrator basically said though that Luton need to beat Forest next week to get the 3rd round home time against Liverpool in order for the players to be paid. If they don't get paid within 14 days they are free agents and can leave at any time. Luton are losing £400K per month. I'm pretty sure it's 10 points still, that's what Leeds got deducted last year. Their 15 point deduction was for a different matter Title: luton go into administration Post by: janaage on Thursday, December 13, 2007, 17:15:18 So how come Luton's administrators have set out clear timescales for their plans, yet we've just been making it up as we go along for the last x amount of years?
http://news.bbc.co.uk/1/hi/england/beds/bucks/herts/7142268.stm Title: luton go into administration Post by: Sussex on Thursday, December 13, 2007, 17:23:11 Quote from: "janaage" So how come Luton's administrators have set out clear timescales for their plans, yet we've just been making it up as we go along for the last x amount of years? http://news.bbc.co.uk/1/hi/england/beds/bucks/herts/7142268.stm Exactly what I thought when I saw that story. Useless sprang to mind. Title: luton go into administration Post by: Barry Scott on Thursday, December 13, 2007, 17:43:55 ANDRONICUNT.
Title: luton go into administration Post by: JOHNNY REEVES on Thursday, December 13, 2007, 18:03:10 don,t think we are in administration.
Title: luton go into administration Post by: janaage on Friday, December 14, 2007, 09:20:27 I know we're not in administration, we're probably in a lot worse a situation. The point I'm making JR is at least they seem to have some sort of timescale to work too. For the last year or so we've just been winging it, thanks to Andronikou.
Title: luton go into administration Post by: Peter Venkman on Friday, December 14, 2007, 12:32:19 Coventry in the same boat too....
Coventry have until 4pm on Friday for a club takeover to be concluded before they are forced into administration - at the cost of 10 points http://www.teamtalk.com/football/story/0,16368,1790_2971829,00.html Title: luton go into administration Post by: BrightonRed on Friday, December 14, 2007, 13:24:00 Quote from: "janaage" I know we're not in administration, we're probably in a lot worse a situation. The point I'm making JR is at least they seem to have some sort of timescale to work too. For the last year or so we've just been winging it, thanks to Andronikou. To be fair we should think ourselves lucky that Andronikou has manage to 'wing it' for so long. We're also lucky that Hacker Young are a panel firm for the Inland Revenue and therefore more willing to accept that Andronikou is competent and genuinely attempting to obtain the best resolution from their point of view, otherwise I'm pretty confident they would have petitioned for our winding-up* some time ago. *or pressured Andronikou into failing the CVA The difference between administration and a CVA is that our directors are allowed to continue to run the club. The CVA supervisor takes a back-seat and makes sure payments are being made as defined in the CVA proposal whereas administrators will be running Luton Town - hence the defined timescales. Title: luton go into administration Post by: Spencer_White on Friday, December 14, 2007, 13:43:33 Quote from: "BrightonRed" Quote from: "janaage" I know we're not in administration, we're probably in a lot worse a situation. The point I'm making JR is at least they seem to have some sort of timescale to work too. For the last year or so we've just been winging it, thanks to Andronikou. To be fair we should think ourselves lucky that Andronikou has manage to 'wing it' for so long. We're also lucky that Hacker Young are a panel firm for the Inland Revenue and therefore more willing to accept that Andronikou is competent and genuinely attempting to obtain the best resolution from their point of view, otherwise I'm pretty confident they would have petitioned for our winding-up* some time ago. *or pressured Andronikou into failing the CVA The difference between administration and a CVA is that our directors are allowed to continue to run the club. The CVA supervisor takes a back-seat and makes sure payments are being made as defined in the CVA proposal whereas administrators will be running Luton Town - hence the defined timescales. You rekon? I think its just delayed the innevitable, allowing them to drag it out to the last possible second. Putting the club more at risk. Title: luton go into administration Post by: BrightonRed on Friday, December 14, 2007, 14:16:10 Quote from: "Spencer_White" Quote from: "BrightonRed" Quote from: "janaage" I know we're not in administration, we're probably in a lot worse a situation. The point I'm making JR is at least they seem to have some sort of timescale to work too. For the last year or so we've just been winging it, thanks to Andronikou. To be fair we should think ourselves lucky that Andronikou has manage to 'wing it' for so long. We're also lucky that Hacker Young are a panel firm for the Inland Revenue and therefore more willing to accept that Andronikou is competent and genuinely attempting to obtain the best resolution from their point of view, otherwise I'm pretty confident they would have petitioned for our winding-up* some time ago. *or pressured Andronikou into failing the CVA The difference between administration and a CVA is that our directors are allowed to continue to run the club. The CVA supervisor takes a back-seat and makes sure payments are being made as defined in the CVA proposal whereas administrators will be running Luton Town - hence the defined timescales. You rekon? I think its just delayed the innevitable, allowing them to drag it out to the last possible second. Putting the club more at risk. Well, whether our demise is 'inevitable' remains to be seen, however the CVA proposal almost certainly contains resolutions which state that should any payment be missed the CVA supervisor (providing there are sufficient funds to do so) should immediately place the company into creditors voluntary liquidation and wind the company up. Now I’m of the opinion that if this takeover goes through and the club survives (which I fully appreciate is a big ‘if’!) then we should maybe be thankful that Andronikou did manage to keep the revenue at bay pending a completed takeover. Title: luton go into administration Post by: WorcesterRed on Friday, December 14, 2007, 16:36:21 Quote from: "BrightonRed" Quote from: "Spencer_White" Quote from: "BrightonRed" Quote from: "janaage" I know we're not in administration, we're probably in a lot worse a situation. The point I'm making JR is at least they seem to have some sort of timescale to work too. For the last year or so we've just been winging it, thanks to Andronikou. To be fair we should think ourselves lucky that Andronikou has manage to 'wing it' for so long. We're also lucky that Hacker Young are a panel firm for the Inland Revenue and therefore more willing to accept that Andronikou is competent and genuinely attempting to obtain the best resolution from their point of view, otherwise I'm pretty confident they would have petitioned for our winding-up* some time ago. *or pressured Andronikou into failing the CVA The difference between administration and a CVA is that our directors are allowed to continue to run the club. The CVA supervisor takes a back-seat and makes sure payments are being made as defined in the CVA proposal whereas administrators will be running Luton Town - hence the defined timescales. You rekon? I think its just delayed the innevitable, allowing them to drag it out to the last possible second. Putting the club more at risk. Well, whether our demise is 'inevitable' remains to be seen, however the CVA proposal almost certainly contains resolutions which state that should any payment be missed the CVA supervisor (providing there are sufficient funds to do so) should immediately place the company into creditors voluntary liquidation and wind the company up. Now I’m of the opinion that if this takeover goes through and the club survives (which I fully appreciate is a big ‘if’!) then we should maybe be thankful that Andronikou did manage to keep the revenue at bay pending a completed takeover. Given the insulting comments made by this little prick, I won't be thanking the tosser for anything. :wanker: :wanker: :wanker: |