luton go into administration

[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.

[Peter Venkman]

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

[BrightonRed]

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.

[Spencer_White]

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.

[BrightonRed]

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.

[WorcesterRed]

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: