On A Happy Note

[STFC_Gazzza]

It seems as if the Council are willing to re-negotiate they just have to actually do something… Over to you Mr Andronikunt

“If Swindon want to re-negotiate then that's fine, but they have to discuss the matter with the parties and the creditors involved.

"We've heard lots of statements in public about extending the deadline, but nothing has been discussed in private.

"To alter the terms of the CVA there would have to be a creditors meeting and I'm not aware of any of these meetings taking place.

[RobertT]

I think Bluh was just very politely pointing out how things work in the real world for them.

[TalkTalk]

And there is also the small matter of HMRC as well.

[OOH! SHAUN TAYLOR]

And they are definitely not known for fucking around :?

[pauld]

It seems as if the Council are willing to re-negotiate they just have to actually do something… Over to you Mr Andronikunt

“If Swindon want to re-negotiate then that's fine, but they have to discuss the matter with the parties and the creditors involved.

"We've heard lots of statements in public about extending the deadline, but nothing has been discussed in private.

"To alter the terms of the CVA there would have to be a creditors meeting and I'm not aware of any of these meetings taking place.

Although of course, if the board did want to renegotiate the CVA it might have been helpful not to have publicly gone off on one attacking the man they'd have to negotiate with.  :shock:

[STFC_Gazzza]

It seems as if the Council are willing to re-negotiate they just have to actually do something… Over to you Mr Andronikunt

“If Swindon want to re-negotiate then that's fine, but they have to discuss the matter with the parties and the creditors involved.

"We've heard lots of statements in public about extending the deadline, but nothing has been discussed in private.

"To alter the terms of the CVA there would have to be a creditors meeting and I'm not aware of any of these meetings taking place.

Although of course, if the board did want to renegotiate the CVA it might have been helpful not to have publicly gone off on one attacking the man they'd have to negotiate with.  :shock:

Can't argue that point

[fatbury]

7 days to go!

[Frigby Daser]

Without being bothered to look it up, there's a notice period required for creditors meetings...and it's certainly more than 7 days

[Samdy Gray]

Without being bothered to look it up, there's a notice period required for creditors meetings...and it's certainly more than 7 days

It's 14 days, says so in the CVA proposal.

[Frigby Daser]

It'd be interesting to know whether or not thats invalidated if the 14th day falls beyond the payment date.

I'd hate Andy A, after all he's done for the club, to be negligent.

[pauld]

Andronikou's most likely waiting to see if they can come up with the "investor" (and hence the cash) before Jun 30th before writing to creditors. But once that date passes he will be going out on a limb slightly (to say the least) if he doesn't then at least inform creditors as to what the situation is, how he intends to resolve it etc. It's not the case that come June 30th it all goes bang automatically, but once June 30th has passed if payment hasn't been made then we are wide open to any of the creditors collapsing the CVA as and when they choose. And then we go bang

[The_Plagiarist]

wait a minute, the CVA collapses, I thought we then owe the entire amount?

as opposed to the £900,000 which is xxp in the £, we automatically owe 100p in the £ again?? is this right?

if so, and they then finally decide to fuck off, does that mean Power would have to pay the entire amount of original debt? which might change his willingness to buy the club I'd wager.

can anyone confirm how far off the mark I am? (to the nearest 100miles would be fine)

[RobertT]

if the cva fails then we would owe the whole lot, ghence why failed CVA either end-up in a new one or liquidation.

[Samdy Gray]

wait a minute, the CVA collapses, I thought we then owe the entire amount?

as opposed to the £900,000 which is xxp in the £, we automatically owe 100p in the £ again?? is this right?

if so, and they then finally decide to fuck off, does that mean Power would have to pay the entire amount of original debt? which might change his willingness to buy the club I'd wager.

can anyone confirm how far off the mark I am? (to the nearest 100miles would be fine)

I think that's right, something like £5 million.

[STFC_Gazzza]

Fantastic It just gets better and better!