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STFC_Gazzza
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« on: Tuesday, June 19, 2007, 08:46:48 » |
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Councillor Nick Martin is still expecting Swindon Town to pay the debt they owe the Borough Council on time and in full.Under the terms of the Company Voluntary Agreement (CVA) brokered in August 2002, a payment of £900,000 is due on June 30 for the club to fulfil their obligations.
CVA supervisor Andrew Andronikou, who has the task of looking after the creditors' interests, last week stated that he has the discretion to "extend and vary" the deadline.
But Cllr Martin, who is Swindon Borough Council's lead member for finance and resources, confirmed the club still owes a "significant sum" and he has yet to be approached by Andronikou over the possibility of revising the date of payment.
While Andronikou has the option of seeking approval to extend the arrangement, the council, as a substantial creditor, are within their rights to apply to the court to contest any decision to change the date of payment.
And Cllr Martin insisted yesterday that any attempt to revise the deadline would be rebuffed by the council.
He said: "At this moment in time we are expecting the club to comply with the CVA and are expecting payment in the near future.
"Nobody has approached us with regards to extending the deadline and I can think of no good reason why we should consider that.
"We are going back four years and that money is owed to the people of Swindon by the football club's board of directors.
"My current instructions are not to accept any reduction in the terms or procrastination on the date of payment."
Andronikou maintains that the club is closing in on a potential new investor and the funds may be in place by the end of June to meet the final payment.
But fans remain sceptical and Supporters Trust chairman Paul Davis believes the club could only be a matter of weeks away from a "serious bombshell".
n Defender Andy Nicholas has been linked with a move to Stockport County. Out-of-contract Nicholas has yet to sign a new deal at the County Ground.
n Swindon have signed former Plymouth youth academy defenders Sean Morrison and Ben Tozer on apprentice forms and are also hoping to prize young striker Ben Joyce away from Home Park.
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Ardiles
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Posts: 11529
Stirlingshire Reds
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« Reply #1 on: Tuesday, June 19, 2007, 08:51:06 » |
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Game, set & match.
Andronikou - time to start explaining yourself.
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Bogus Dave
Ate my own dick
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« Reply #2 on: Tuesday, June 19, 2007, 08:53:44 » |
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gulp
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Things get better but they never get good
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Panda Paws
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Arse
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« Reply #3 on: Tuesday, June 19, 2007, 08:57:14 » |
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I hate to say it, but told you so ...
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Samdy Gray
Dirty sneaky traitor weasel
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« Reply #4 on: Tuesday, June 19, 2007, 09:02:53 » |
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Shit > Fan
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magicroundabout
Fanta Pants
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« Reply #5 on: Tuesday, June 19, 2007, 09:03:04 » |
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Will the board of directors of STFC please close the door behind them on there way out.
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Panda Paws
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Arse
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« Reply #6 on: Tuesday, June 19, 2007, 09:04:28 » |
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magicroundabout
Fanta Pants
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« Reply #7 on: Tuesday, June 19, 2007, 09:07:13 » |
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janaage
People's Front of Alba
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« Reply #8 on: Tuesday, June 19, 2007, 10:04:52 » |
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WDP = Busy bodies?
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Panda Paws
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Arse
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« Reply #9 on: Tuesday, June 19, 2007, 10:10:56 » |
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WDP = Busy bodies? Nick Martin = Also a 'busy body' |
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Ardiles
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Stirlingshire Reds
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« Reply #10 on: Tuesday, June 19, 2007, 10:19:46 » |
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I'm just amazed - especially with Bowden being such great mates with Roderick Bluh - that no one at the club appears to have discussed the matter with Swindon Council.
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STFC_Gazzza
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« Reply #11 on: Tuesday, June 19, 2007, 10:20:19 » |
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I'm just amazed that no one at the club appears to have discussed the matter with Swindon Council.  |
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reeves4england
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We'll never die!
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« Reply #12 on: Tuesday, June 19, 2007, 10:21:50 » |
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This is getting worrying now. All well and good if this leads to the boared going, somebody coming in a paying it off and everythiong being fine. But I'm worried the board will try and hold on even if it means the club collapsing beneath them
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TalkTalk
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« Reply #13 on: Tuesday, June 19, 2007, 10:26:53 » |
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I'm just amazed - especially with Bowden being such great mates with Roderick Bluh - that no one at the club appears to have discussed the matter with Swindon Council. Correct. It doesn't appear that anybody at the club has discussed it with SBC. However, Nick Martin at Scrutiny last week said that SBC had met with the club "at least a couple of times" and reiterated the situation. So it looks as though the club go deaf when the council turn up. :roll: |
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Give us an S
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« Reply #14 on: Tuesday, June 19, 2007, 10:29:24 » |
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