ayrmad Posted September 17, 2009 Share Posted September 17, 2009 On the Accrington situation, they owe £308,000.Initially, HMRC allowed them twelve months to pay it off, then changed their mind abruptly a couple of weeks back, and demanded payment in full within eight weeks. So, even if HMRC appear initially to be onside, there's no predicting their sudden changes of heart, as has happened with Accrington. I also believe that they own the Crown Ground. I can see them beating the rap and making the deadline, but it will be very tight. They've already had a friendly with Burnley, who are their neighbours, and fans of other local clubs are turning out to follow them in their hour of need. there were 3,500 at their last game, with Darlington, compared to a normal gate of about 1200, with reportedly fans of other small Lancashire teams- Morecambe, Bury and Rochdale- turning out in support. So, the situation is somewhat different to Livingston's even if they have the HMRC debts in common. Don't know if they can change terms once agreed in Scotland,they may get a dispensation that allows them to differ from other creditors in Scotland though. And good to see fans and clubs chipping in to help Accrington. 0 Quote Link to comment Share on other sites More sharing options...
djn Posted September 17, 2009 Share Posted September 17, 2009 Someone posted last week stating 75% was required. I thought it was something like that, based on Berwick's experience many many years ago. On the Accrington situation, ... They've already had a friendly with Burnley, who are their neighbours, and fans of other local clubs are turning out to follow them in their hour of need. there were 3,500 at their last game, with Darlington, compared to a normal gate of about 1200, with reportedly fans of other small Lancashire teams- Morecambe, Bury and Rochdale- turning out in support.So, the situation is somewhat different to Livingston's even if they have the HMRC debts in common. I saw that on the BBC's Football League show - quite heartening to see rival fans come along to support them - I certainly can't imagine fans of other Scottish clubs make the same effort for Livi. We had a few fans of other teams come to watch is in what was meant to be our "final" season, I've been to a couple of (non Berwick) Shire matches for similar reasons in the past. 0 Quote Link to comment Share on other sites More sharing options...
Skyline Drifter Posted September 17, 2009 Share Posted September 17, 2009 Partly agree, but SFL have to take some blame for that, surely you agree on that point at least? Quality. And by the same token of course, the judge who sent down the Yorkshire Ripper and that Ian Huntly has to take some of the blame for their crimes too. surely you'd agree? 0 Quote Link to comment Share on other sites More sharing options...
Benjamin_Nevis Posted September 17, 2009 Share Posted September 17, 2009 Someone posted last week stating 75% was required.Must be someone on here who can tell us how this works. I'm unsure as to how the rules work in business. However on an individual level, one of my friends entered into a Trust Deed, which is similar to a CVA. For the Trust Deed to become protected, required the agreement of creditors to the tune of 75% of the debt. Protection basically means you can't be chased for payment. Unprotected meant that the Trust Deed would go ahead, however companies would still be able to chase you for money. Mind you that was something like 6/7 years ago, so the rules may have changed. 0 Quote Link to comment Share on other sites More sharing options...
vikingTON Posted September 17, 2009 Share Posted September 17, 2009 Oh FFS was it really that difficult for someone to google 'CVA'? (safe search on naturally) This is what companyrescue.co.uk says in its detailed piece on them Here At the meeting the creditors vote on the proposal and the proposal will be approved if a majority vote of 75% by value of the total value of creditors at the meeting (whether in person or by proxy) vote in favour. A second vote excluding connected creditors is taken and provided that not more than 50% of creditors vote against the proposal it is approved. 0 Quote Link to comment Share on other sites More sharing options...
FFCinthearea Posted September 17, 2009 Share Posted September 17, 2009 Apparently the CVA has been agreed. What's the odds on another one withing 2 years? 0 Quote Link to comment Share on other sites More sharing options...
Homer Thompson Posted September 17, 2009 Share Posted September 17, 2009 Oh FFS was it really that difficult for someone to google 'CVA'? (safe search on naturally) This is what companyrescue.co.uk says in its detailed piece on them Here Oh yeah Apparently the CVA has been agreed. What's the odds on another one withing 2 years? That is a surprise, I have to say. I really thought that Massone and/or HMRC would vote against it. 0 Quote Link to comment Share on other sites More sharing options...
vikingTON Posted September 17, 2009 Share Posted September 17, 2009 If Massone only has 15% then he can't veto it on his own. Looks like the rest have drank the 'saving senior football: some repayment or nothing' Kool-Aid. I await the platitudes of 'saving the club' from the hooray henrys on LL. 0 Quote Link to comment Share on other sites More sharing options...
Homer Thompson Posted September 17, 2009 Share Posted September 17, 2009 If Massone only has 15% then he can't veto it on his own. Looks like the rest have drank the 'saving senior football: some repayment or nothing' Kool-Aid. I await the platitudes of 'saving the club' from the hooray henrys on LL. Thats true - I misinterpreted 75% to be the top 75%, if you know what I mean. Having said that, without Massone, the other top 6 creditors only make up 60%. That means there must have been another £300ks worth of creditors who voted for it. Outside the top 6 there arent that many owed big money. Im actually more surprised that the HMRC have gone for it, which they must have. 0 Quote Link to comment Share on other sites More sharing options...
MCL Posted September 17, 2009 Share Posted September 17, 2009 Thats true - I misinterpreted 75% to be the top 75%, if you know what I mean.Having said that, without Massone, the other top 6 creditors only make up 60%. That means there must have been another £300ks worth of creditors who voted for it. Outside the top 6 there arent that many owed big money. Im actually more surprised that the HMRC have gone for it, which they must have. Massone claimed he was due more and Angelini claimed £300k (said he had a contract for £75k a year for 4 years for football consultancy). McGruther dismissed these claims as fraudulent as the contracts hadn't existed until recently. Massone was warned that making fraudulent claims was a criminal offence. Angelini was told he was a de facto director and as such couldn't act as a consultant. He would be reported to the DTI. It was then established by McGruther that Massone's dues were £287k. He was told that if he voted against the CVA with enough other people that the club would cease to exist despite Massone's claims earlier that he wanted the club to survive. Massone voted against along with another creditor due £9k but this wasn't enough to close the club down. HMRC and WLC insisted that no deal had been done prior to the meeting so it looks like they will only get 5p in the £ too... 0 Quote Link to comment Share on other sites More sharing options...
Homer Thompson Posted September 17, 2009 Share Posted September 17, 2009 Massone claimed he was due more and Angelini claimed £300k (said he had a contract for £75k a year for 4 years for football consultancy). McGruther dismissed these claims as fraudulent as the contracts hadn't existed until recently. Massone was warned that making fraudulent claims was a criminal offence. Angelini was told he was a de facto director and as such couldn't act as a consultant. He would be reported to the DTI. It was then established by McGruther that Massone's dues were £287k. He was told that if he voted against the CVA with enough other people that the club would cease to exist despite Massone's claims earlier that he wanted the club to survive. Massone voted against along with another creditor due £9k but this wasn't enough to close the club down. HMRC and WLC insisted that no deal had been done prior to the meeting so it looks like they will only get 5p in the £ too... I think Livy have been very, very lucky today 0 Quote Link to comment Share on other sites More sharing options...
Larsson. Posted September 17, 2009 Share Posted September 17, 2009 Daniel Welsh aged 18 get 2 year deal at Livi, nothing like keeping it in the family. More money down the pan. 0 Quote Link to comment Share on other sites More sharing options...
The ghost of Jim Morton Posted September 17, 2009 Share Posted September 17, 2009 12,000 post plus and nearing 400,000 ( four hundred thousand) views.. This truely is a monster thread.. 0 Quote Link to comment Share on other sites More sharing options...
teekasule Posted September 17, 2009 Share Posted September 17, 2009 ...new assistant manager. http://news.bbc.co.uk/sport1/hi/football/t...ton/8259535.stm 0 Quote Link to comment Share on other sites More sharing options...
AND180Y Posted September 17, 2009 Share Posted September 17, 2009 Yeah where is AND180Y this morning I had 70% in my head but, as I said, I couldnt really remember. If it is 75% add Kingdom Property Group and Scottish Power onto the list above - as far as I can see they are the two next biggest creditors. I was in Livi, not 2 feet away from that smug faced twat Johnston,I should have smacked him one. If I had bought the local paper before seeing him him and I would have been having words. How the fcuk he can run a council with his obvious lack of brains is beyond me. Nice to see that he or someone reporting to him reads P&B though, shadey b'stard. 0 Quote Link to comment Share on other sites More sharing options...
FFCinthearea Posted September 17, 2009 Share Posted September 17, 2009 ...new assistant manager. http://news.bbc.co.uk/sport1/hi/football/t...ton/8259535.stm 0 Quote Link to comment Share on other sites More sharing options...
phantoms-livi-lass Posted September 17, 2009 Share Posted September 17, 2009 Ooooh! This season doesn't seem so bad after all! 0 Quote Link to comment Share on other sites More sharing options...
phantoms-livi-lass Posted September 17, 2009 Share Posted September 17, 2009 (edited) Ignore this post it's nowt to do with the thread! Every time I post using IE it crashes so I'm checking on Google chrome. Nightmare!!! Yes it works!!!! Edited September 17, 2009 by phantoms-livi-lass 0 Quote Link to comment Share on other sites More sharing options...
The ghost of Jim Morton Posted September 17, 2009 Share Posted September 17, 2009 Ignore this post it's nowt to do with the thread!Every time I post using IE it crashes so I'm checking on Google chrome. Nightmare!!! Yes it works!!!! I have been having problems all night. I get in to threads okay but then the page freezes and I get the old " this program is not responding " message. It's not my machine though as it is working fine everywhere else except P&B..It's a pain in the arse 0 Quote Link to comment Share on other sites More sharing options...
Glasgow Loon Posted September 17, 2009 Share Posted September 17, 2009 (edited) I have been having problems all night. I get in to threads okay but then the page freezes and I get the old " this program is not responding " message. It's not my machine though as it is working fine everywhere else except P&B..It's a pain in the arse Dont use IE, use any like firefox,google chrome,opera. There is also a thread in the complaints forum and in the technology forum as well. Edited September 17, 2009 by napier deltic 0 Quote Link to comment Share on other sites More sharing options...
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