Admin - what does this mean for you?

[Guest]

How will this effect the ground building? Surely it must have an effect somwehere along the line? Also, where does that leave CK and the players? Unless of course you have got in quick and, like Cambridge United, gone into Admin now that the ten point deduction is neither here nor there. Will you be accepted by the Ryman league if in Admin? Has a CVA been agreed? If nothing else, I hope it wipes a whole load of debt off your plate!!!

[Guest]

Players wages should be a Priority

[Cookie]

KP said at the presentation,in front of many,that the players wages will be paid up in full before the end of this season. Thats about a week in my reckoning unless you count the play-offs. Even then it still wont be too long before this is done. Pray this actualy happens and despite some doubting KPs words on almost everything I for one am happy to accept what he says. Only time will tell on that score I suppose.

[Guest]

This is a Football Forum hes been cracking jokes like that for yunks your having a Laugh <img src="/forum/images/graemlins/chat.gif" alt="" />

[TonyM]

What a stupid post,anons hello earth to anons,are you all that dim.

[MargateFan]

My understanding of the situation was all liabilities from this season would be honoured by the funders, and those outstanding from before that would be scheduled for payment under the terms of the administrattion.

That has to be good news for the club, and all creditors.

[TonyM]

Your right June.

[David Holden]

Quote:

MargateFan said:
My understanding of the situation was all liabilities from this season would be honoured by the funders, and those outstanding from before that would be scheduled for payment under the terms of the administrattion.
That has to be good news for the club, and all creditors.

It's unlikely to be good news for Creditors. The job of the administrator is to keep the club going by any means possible, including, where legal, the delaying or the avoidance of paying off the Creditors.

[MargateFan]

Well, if the Club went down the pan, it would be even worse for the creditors, at least a rescheduling of repayment offers some chance of restitution, especially if the club survives, and begins to grow again.

[Guest]

Quote:

MargateFan said:
My understanding of the situation was all liabilities from this season would be honoured by the funders, and those outstanding from before that would be scheduled for payment under the terms of the administrattion.
That has to be good news for the club, and all creditors.

Isn't that illegal, all creditors no matter how old have to be treated as equal

[MargateFan]

I only said it was my understanding, I am not an accountant or lawyer, and could well be wrong. But I think there is a difference between liabilities and creditors. In any case, the administrators appointed are independent and probably know exactly what needs to be done within the law. So you can easily pick holes in what I say if it amuses you, at least it gives the club a rest.

[David Holden]

As a matter of interest, who are the administrators?