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Margate


Serious Sid

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Actually Sid we haven't been deducted the 10 points yet, another is a bit too quick of the mark. We have to find a certain amount to psay the Revenue and Customs by the 26th Nov but looks like we can't raise it in time.

 

The club to survive are looking to go into CVA with the intention of paying off this debt in a year's time when building will commence on our ground when the developer can then realease extra monies. Of course by entering a CVa it incurs a 10 point penalty.

 

So unless a white knight comes up with the monies by 26th November it looks like a CVA.

 

Hope this helps.

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Originally Posted By: BlueGate Alan

The club to survive are looking to go into CVA with the intention of paying off this debt in a year's time when building will commence on our ground when the developer can then realease extra monies. Of course by entering a CVa it incurs a 10 point penalty.

So unless a white knight comes up with the monies by 26th November it looks like a CVA.

Hope this helps.


I believe that in recent cases the C&E are insisting they receive full payment which makes a CVA agreement difficult to broker.
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Am not sure Dagger at least 50k. Developers helped fund our 5 a side pitches and are going to fund te building of new ground along with a Medical Centre. This debt was due to be paid of in January but due to planning problems work wont start until March now and C&E wont wait any longer.

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Just popped on here to thank all you Urchins who supported us especially those, and you know who you are, who also very generously sent a financial contribution to our pledge fund.

 

As Dave says above we have brokered an agreement with taxman and so we will no longer be going into CVA so no 10 point deduction.

 

Thanks again Urchins, you have been great friends in our hour of need.

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Originally Posted By: BlueGate Alan
Just popped on here to thank all you Urchins who supported us especially those, and you know who you are, who also very generously sent a financial contribution to our pledge fund.
Thanks again Urchins, you have been great friends in our hour of need.


Well done Alan.You got there before me but you took the words right out of my mouth. Many thanks all.
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Rest assured that a 10 point deduction wouldn't ever be considered in the Premier League. West Ham weren't even deducted three points for playing Tevez.

 

There's only team in Margate - and that's Ramsgate.

 

Anyway, here's a little ditty from those well-known Margate fans, Chas and Dave. :-)

 

"Down to Margate": http://uk.youtube.com/watch?v=cXWJ_6aV15g

 

 

 

 

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