BBC RS Update aka The Thursday and it still aint done thread

[Batch]

BBC RS report that the club lawyers have responded to the consortium asking for clarification on some points on the "agreed" deal.

BBC RS also understands HMRC are close to issuing a WUP.

BBC RS do point out the clarification may be a quick process, but who knows.
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Stall stall - my total and utter wild stab in the dark guess - the club owners need to make good on the costs incurred whilst they are in charge (wages, bills, etc). Perhaps they need the Tozer deal in order to do this? Yes they won't get the money immediately, but it will come  and they can leave the clubin the knowledge that once it's in their end of the bargain is fulfilled.  -----> This speculation was brought to you by the letters B and S.

[lebowski]

if they had signed the deal when it was agreed back in october then they wouldn't have incurred further costs, and i'm sure that's what fitton and co are telling them.

[ghanimah]

Winding Up Petition expected next week according to Adver

THE Inland Revenue are closing in on Swindon Town as the ongoing takeover farce at the County Ground remains unresolved.

Sources close to the talks have revealed the tax man is losing patience as their £1.9million debt still shows no sign of being cleared.

A winding-up petition is expected to be issued by HMRC by early next week if the current impasse continues, with both parties claiming their innocence as the hold up continues.
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Andrew Fitton and Jeremy Wray's consortium looked set to seal their takeover deal on Monday but, three days and countless false dawns later, fans remain frustrated and concerned for the club's future existence.

A winding-up petition from the revenue would spark a snowball effect from the majority of Town's other creditors, and leave the club on the financial precipice.

The revenue have already vowed to be as patient as possible to all people involved in the deal, but as the current negotiations continue to stall, they could see a petition to the courts as their only option.

Fitton's consortium have statements prepared and ready to go, confirming the completion of the conditional deal' but they insist they are still being made to wait by Town's lawyers.

It is also thought they will instantly announce the resignations of board members Sandie Gray and Bob Holt, while revealing the name of the new chief executive.

Sources close to Town's side in the deal though insist the suitors have received all paperwork needed and are equally confused about the continuing delay.

Signing the conditional deal' would allow Fitton & Co to take the reins at the County Ground with immediate effect as they looked to iron out the remaining issues.

These remaining conditions are thought to surround future development rights, with St Modwen needing to approve the agreement at a board meeting.

With the staff at the County Ground expecting to be paid this week, fears are growing they will again have to wait for their money with Christmas just days away.

Meanwhile the Swindon Advertiser's website www.thisisstfc.co.uk was in overdrive with some fans voicing their intention for more protests at Saturday's clash with Hartlepool, if the situation is not resolved.

http://www.thisisswindontownfc.co.uk/news/headlines/display.var.1917611.0.inland_revenue_closing_in_on_town.php

[Matchworn Shirts]

This saga was a complete and utter joke a few days ago, now its just taking the piss

I expect the next public thing we hear from either side is that the deal is done, but when this will be I give up

[Panda Paws]

This is very depressing.

[magic8ball]

I hope they do issue a winding up order. Might get some arses into gear.

[ghanimah]

BBC RS have reported (9am) that the club's lawyers have requested clarification on a couple of issues from Fitton et al

[fatbury]

does that mean contact has been established??

[Frigby Daser]

rather than rpinging emails back and forth, it's about time this lot got on the blower to each other

[Matchworn Shirts]

does that mean contact has been established??

depends if the email went to the right address

[Ardiles]

rather than rpinging emails back and forth, it's about time this lot got on the blower to each other

I'm all for taking them to a remote part of the jungle in Queensland and sitting them all down face to face - and telling them it's cockroaches and spider shit on the menu until such time as a deal is signed.

[Spencer_White]

The thing is, if they dont issue a WUP before january then Diamandis runs off with the Tozer money. This forces their hand, they will have to issue it before january.

[Panda Paws]

Wouldn't putting them in the middle of Penhill have the same effect ...??

[magic8ball]

I wish they'd issue it today.

Diamandis has been stringing creditors along since all of this started with the promise of a swift takeover deal. They must have noticed he's bluffing by now?

I'm so pleased that I'm out today. Might get a few drunken ramblings from me later tonight.

[Batch]

WDP's take, slightly more positive

http://www.westerndailypress.co.uk/displayNode.jsp?nodeId=145787&command=displayContent&sourceNode=145780&contentPK=19315319&folderPk=100269&pNodeId=145803

The protracted takeover of Swindon Town suffered further delays yesterday.Consortium leader Andrew Fitton is still away on a family holiday, but business partner Jeremy Wray was hoping to complete the deal yesterday morning.

The group's lawyers, however, requested further paperwork from the club's solicitors and were working late last night to make sure that the wording of the 'conditional' agreement will be acceptable to both parties.

The club's existing directors are now all believed to have signed agreements to confirm that they are not owed any outstanding monies.

The remaining issues that need resolving are believed to be which company the much-haggled over development rights will be transferred to and over what period of time that current majority shareholder Sir Seton Wills will receive some of the money he is owed due to outstanding loans.

Both parties are still confident that the deal will be done, but are reluctant to set a firm completion date after a number of deadlines came and went without it all being resolved earlier in the week.