Thetownend.com

Swindon Town consider entering administration to cut £13m debts
     

Swindon may be forced in to administration for a third time in order to slash their debts - thought to be around £13m.
     

http://www.bbc.co.uk/sport/0/football/21047858
     

WON'T SOMEBODY THINK OF THE CHILDREN

Jimmy Saville, are you back from the dead?

Hmmm

Is it just me whose a bit cynical that the only direct quotes are from an interview that happened a few weeks back? 

Also we can't even go into admin a third time can we?

Think it may be you being a bit cynical....we're fucked, it's just a case of tin hat and sand bags and see what's left after the fallout.

Diamond Mike & AA to come back and save us

Really £250,000 a month on playing budget? seems a bit high to me  :hmmm:

By my maths, if I take that we have 40 players, that averages over 1,500 per week. That seems pretty high for this level right enough, or am I mistaken?

I thought they were all on 10k ?

Patey on, fears eased even more. Hold back angry mob people

I thought that, but on reflection...I think the court order applied to the previous Ltd company, which of course since the takeover has now been liquidated. As it is now a new Ltd company that no longer applies.

There's no limit - we can go into admin as many times as a court will grant the order. But obviously each time you do so, certainly under the same directors, the less credible your argument that this will enable the company to restructure itself in the best interests of its creditors becomes

I thought the comment related to the second time we went into administration and had condition imposed on us that we couldn't do it for the third time?

That was just an urban myth I believe. There may have been some rumblings from the court along the lines of "You'd better sort it out properly this time because we won't be impressed if you turn up here again" but there's no absolute limit AFAIK. I'm sure Si Pie will be able to comment on this more fully.

Although I'd still like to know whether if we go get a hat-trick of administration orders do we get to keep the judge's wig? :)

As long as the colour of the wig isn't ... Black

Hmmm, all this seems a bit extreme to avoid buying Bournemouth new plexiglass.

:D

 :D

Thanks Batch.  Post of the day.

Brilliant.

if what Watkin's has said is true and we don't have trade debts it could mean that Bournemouth would be the only ones who lose out, lets go for it.

Risky if you ask me. I reckon the tax man will see straight through it.