Club Statement.
Posted by: Yorki (IP Logged)
Date: 14 June, 2019 15:40

Please could somebody explain the latest statement from YC regarding CVA, dividends etc because I do not understand the business jargon used to be honest?

Sorry not my field of understanding.

Re: Club Statement.
Posted by: almostatyke (IP Logged)
Date: 14 June, 2019 16:33

Hi Yorki, we have discussed this under the thread "Board Update". In essence the club owe money to creditors and have put forward a lump sum that is not as much as the total all the creditors are owed. Thus the club is offering to pay the creditors a proportion of what they are legally entitled to, called "a dividend". If all (or I think more than 75% agree) then the payment is made and the club moves forward. If the offer is declined by more than 25% (by value) of the creditors then the club will go into Administration and the creditors risk getting nothing.

Re: Club Statement.
Posted by: Yorki (IP Logged)
Date: 14 June, 2019 17:07

Thanks

Sorry, only registered users may post in this forum.
We record all IP addresses on the Sportnetwork message boards which may be required by the authorities in case of defamatory or abusive comment. We seek to monitor the Message Boards at regular intervals. We do not associate Sportnetwork with any of the comments and do not take responsibility for any statements or opinions expressed on the Message Boards. If you have any cause for concern over any material posted here please let us know as soon as possible by e-mailing abuse@sportnetwork.net