ANDREW FITTON UPDATE: EMBARGO OFFICIALLY LIFTED

[STFC_Gazzza]

On STFC World. We are now allowed to sign players etc but still need football league approval until all creditors paid at the end of the season. CVA Will be gone and Inland Revenue will be paid by the end of the season, all fine paid, will be debt free by 31st may

http://www.swindontownfc.premiumtv.co.uk/page/sub/Radio/0,,10341~1215903,00.html?

I'll give a run down of the STFC World in a min.

[STFC_Gazzza]

-Telephone conversation Went very well with Football League
-Dave and Maurice can move forward now
-Takeover officially completed today
-Agreement made with creditors and inland revenue
-League have lifted TOTAL embargo
-League have introduced a FLEXIBLE embargo, meaning we have to tell the FL that we have paid creditors etc and get approval from football league to sign players/loans etc
-Players could arrive Thursday once signed off by FL on Thursday
-Will be officially lifted on Thursday at Football League meeting
-CVA will be gone by 31st May
-Inland revenue will be gone by 31st May
-Football League fines gone by 31st May
-By 31st may balance sheet of business will be back in order and 100% clear
-League want to see clubs getting themselves sorted out and will be thrilled to lift the Flexible embargo by 31st may.

ON ANOTHER NOTE: Inland Revenue I believe was paid today and the CVA to follow shortly.

[lebowski]

CVA by 31st may?

this is exactly what people were up in arms about with the previous regime and the bloke who was in charge of it (forgotten his name).

[STFC_Gazzza]

CVA by 31st may?

this is exactly what people were up in arms about with the previous regime and the bloke who was in charge of it (forgotten his name).

I think he was saying that all current debts etc will be paid by that time, meaning the CVA could be paid now but all debts will be paid by 31st May.

[Power to people]

CVA by 31st may?

this is exactly what people were up in arms about with the previous regime and the bloke who was in charge of it (forgotten his name).

Androniku you mean

I thought the whole idea was to pay the debts reasonably straight away other than HMRC

[lebowski]

isnt that what the old board said as well?

not exactly subscribing to the "clear and transparent" mantra that they've been chanting the last month!

oh, and i hope we dont get deducted points!

[sonic youth]

fitton out.

[lebowski]

yeah!

[Northern Red]

The embargo being lifted does nothing for the Cup game in case anyone was wondering.
The player must have been at the club for the original game in order to be eligible for the replay...

But it's a lovely feeling anyway...

[STFC_Gazzza]

For fuck sake.... ALL DEBTS INCLUDING THE CVA, HMRC etc will be cleared BY the 31t May, The Tax man was paid today, the CVA may be paid next week. It means all the stuff that emerged and god knows how much it is will be paid by then.

Instead of reading it as that people read it as OH THE FUCKING CVA WONT BE PAID UNTIL JUNE NEXT YEAR... typical Swindon fans pick out negative points.

If everyone was not in agreement the Embargo would not be lifted.

[Fred Elliot]

isnt that what the old board said as well?

not exactly subscribing to the "clear and transparent" mantra that they've been chanting the last month!

oh, and i hope we dont get deducted points!

Dude

we wont be docked points as the administration period and CVA has now not officially failed

I think there is one major difference here when it comes to flexibility in varyining the CVA.

The main point is that there was no way on this earth that creditors (HMRC) would do any further deals with the old regime, and quite rightly so.


The new regime are a completely different kettle of fish with solid investment and superior business accumen.

Who would you do a deal with ?

[STFC_Gazzza]

isnt that what the old board said as well?

not exactly subscribing to the "clear and transparent" mantra that they've been chanting the last month!

oh, and i hope we dont get deducted points!

Dude

we wont be docked points as the administration period and CVA has now not officially failed

I think there is one major difference here when it comes to flexibility in varyining the CVA.

The main point is that there was no way on this earth that creditors (HMRC) would do any further deals with the old regime, and quite rightly so.


The new regime are a completely different kettle of fish with solid investment and superior business accumen.

Who would you do a deal with ?

Thank you Fred.

[Northern Red]

The embargo being lifted does nothing for the Cup game in case anyone was wondering.
The player must have been at the club for the original game in order to be eligible for the replay...

But it's a lovely feeling anyway...

[STFC_Gazzza]

The embargo being lifted does nothing for the Cup game in case anyone was wondering.
The player must have been at the club for the original game in order to be eligible for the replay...

But it's a lovely feeling anyway...

No but Corr will be available.

[lebowski]

i am merely pointing out that people on here were in uproar when it was said before that the cva would be paid by 31st may, but now it's looked upon totally differently!

if i could find that happy clapper thing then i would use it here.