CVA Update

[mal316]

An update to the CVA can be fount at http://www.wefc.co.uk/news/110113a.asp

[Rother]

http://www.windsorobserver.co.uk/sport/windsorandetonfc/articles/2011/01/14/50212-stott-hopeful/

 

KEVIN Stott is hopeful that Windsor & Eton can move forward after two meetings in the last week.

 

On Friday, the club were seeking to finalise their CVA proposal (Company Voluntary Agreement) and then Mr Stott went to the House of Commons with local MP Adam Afriyie on Wednesday.

 

Speaking about Friday’s meeting, Mr Stott said: “Peter Simpson gave some more information. Not all of it but we sent it off to Robert Keyes (the insolvency practitioner to advise the club, appointed by Peter Simpson).

 

“He thinks he can work with what we have got but I’m checking it because there seems to be significant holes.

 

“To move forward he (Mr Keyes) needs paying and it is Peter’s responsibility.

 

“We have put the paper work together.

 

“In the perfect world we would have all the information so that we are able to ascertain the complete status but we rarely are in the ideal world.

 

“We have to rely on Robert Keyes. If thinks he can do it then I believe him.

 

“The challenge is that we cannot make considered decisions until we have the full information.

 

“I have asked for an indemnity, which isn’t unusual in business, just in case more creditors come through that weren’t initially informed to us.”

 

And Mr Stott was positive about Wednesday’s visit to parliament but did not rule out the club having to start again at a lower level, stating: “We had the meeting with Adam Afriyie, he was cordial and helpful but Peter wasn’t in attendance.

 

“Having had the local MP there is very positive, there is no one greater to try to influence this.

 

“We will do everything we can to put a CVA through but I will start again if we have to. We will either go to a CVA or start again. There are positives about each option.”

 

Mr Stott added: “If we can continue at this level then that would be perfect but if we have to start again then so be it.

 

“We have been restricted so far without Peter’s information.

 

“Robert Keyes, the practitioner, thinks he can get by with the information provided by Peter but he is waiting for Peter to pay him so we can move forward.

 

“The challenge is to move forward and that is the situation we find ourselves in, I don’t think there is much more myself or the committee can do. I believe that Dave (Mudge) and Byron (Walton) have done all they can do along with the committee.

 

“There is an absolute will and determination to make this club sustainable.

 

“The idea is to make this club sustainable at the level it is at, if we can do that then that will be fantastic but we may have to start again. Worst case scenario is starting but hopefully this will be the jolt the club needs.”

 

 

 

[sparksy]

I'm not holding my breath what with the chairmans business gone down the pan!