CVA Payment

[arthurhorsfield]

as of last Friday the 2006 payment had not been paid..does that constitute a fruadulant AGM then?

[Reg Smeeton]

as of last Friday the 2006 payment had not been paid..does that constitute a fruadulant AGM then?

 Cheque might be in the post.....could be a long wait then.

[pauld]

It certainly sounds as if there are some serious questions to be answered. Not least because they said we were up to date at the AGM. As recently as last night, Sandy Gray told reps of the Trust and Supporters Club that the club were up to date with all payments, League, Council, CVA, Revenue etc. So, if this is true, it would mean they've misled supporters and shareholders about this which is pretty serious. Would also raise questions about whether the answers given re winding up orders etc also need to be called into question. Is this a matter of public record anywhere?

[lebowski]

arthur, how do you know the payment hasn't been made?

[Frigby Daser]

Well we know club staff read this site so if there's nothing in we can expect some form of response on here or the official site by tomorrow afternoon, or if there is something in it, we can expect.....silence.

No point in speculating really until the club comments on it.

[arthurhorsfield]

try ringing Hacker Young..they might know

[sonic youth]

arthur, how do you know the payment hasn't been made?

[Panda Paws]

I'd ignore Arthur unless he has some solid proof. The winding up petition had been filed by the Inland Revenue by October of last year. We're well into November now and I see no sign of it so we can only assume it's been paid or they're paying it in stages across the year. I mean, we don't even know if the cash goes off in one lump sum.

[pauld]

Chris, you're confusing failure to meet CVA payment with a winding up order - the latter would be published in the London Gazette, defaulting on the CVA wouldn't. Although obviously it could trigger a winding-up order. I'd like to see something more solid as well, but if it is true, this is an extremely worrying development we'd do well not to dismiss out of hand as if the club have defaulted on the CVA, it could well threaten the club's future.

[OOH! SHAUN TAYLOR]

With this club, the next massive crisis threatening the future of the club is only ever just around the corner.

We should all be used to that by now and not fooled by this so called period of 'stability'.

I predict it won't be long before they're wheeling out Bob Holt aka The Grim Reaper.

[Panda Paws]

Chris, you're confusing failure to meet CVA payment with a winding up order - the latter would be published in the London Gazette, defaulting on the CVA wouldn't. Although obviously it could trigger a winding-up order. I'd like to see something more solid as well, but if it is true, this is an extremely worrying development we'd do well not to dismiss out of hand as if the club have defaulted on the CVA, it could well threaten the club's future.

Not confused at all. Believe me, I've written enough about this down the years.

Defaulting on the CVA wouldn't automatically trigger the winding up order, no, but it is very likely to which is why I pointed people to the gazette.

Simply, we don't know if its been paid and more crucially for me, we don't know *how* it's been paid. Are they paying over a year? Are they paying in one lump sum?

[Frigby Daser]

try ringing Hacker Young..they might know

I think we're supposed to take the hint on this one - anybody going to make the call?

[RobertT]

Chris, you're confusing failure to meet CVA payment with a winding up order - the latter would be published in the London Gazette, defaulting on the CVA wouldn't. Although obviously it could trigger a winding-up order. I'd like to see something more solid as well, but if it is true, this is an extremely worrying development we'd do well not to dismiss out of hand as if the club have defaulted on the CVA, it could well threaten the club's future.

Not confused at all. Believe me, I've written enough about this down the years.

Defaulting on the CVA wouldn't automatically trigger the winding up order, no, but it is very likely to which is why I pointed people to the gazette.

Simply, we don't know if its been paid and more crucially for me, we don't know *how* it's been paid. Are they paying over a year? Are they paying in one lump sum?

It would be very rare to pay it in instalments because by it;s nature the 100k is an instalment itself.  They suggested that they may try and negotiate with the administrator Hacker Young with regard to renegotiating the final payment - i.e ask the creditors to accept it in instalments.  This would suggest they'd have to had gone out to creditors if they wanted to make any deviation to the deadlines for payment.

How do we know they haven't paid?

[Panda Paws]

It would be very rare to pay it in instalments because by it;s nature the 100k is an instalment itself.  They suggested that they may try and negotiate with the administrator Hacker Young with regard to renegotiating the final payment - i.e ask the creditors to accept it in instalments.  This would suggest they'd have to had gone out to creditors if they wanted to make any deviation to the deadlines for payment.

Yeah, fair point. But not impossible. We're all presuming it's a lump sum, but the trouble is, this is one of those internet fuelled rumours that is gaining momentum *just* because we're talking about it.

How do we know they haven't paid?

We don't, Robert. Some nobody has come on here and said they haven't but I see no reason to believe him.

As things stand they said at the AGM it was under control.

[Panda Paws]

try ringing Hacker Young..they might know

I think we're supposed to take the hint on this one - anybody going to make the call?

I doubt they'll discuss what is a private case with members of the public ...