The Serious Torquay Thread

[DB9]

I believe it's allowed on a thread with 'Torquay' in the title.

Pete should see the words allowed when we're talking about the GAWS!

 

[Mid Devon Grecian]

Saw this on a linked in post from an Insolvency Practitioner I know

“The club automatically suffered a ten point deduction upon filing the notice of intention to appoint administrators back in February so whilst there is no further immediate points deduction it does not mean the club is out of the woods just yet.

This is because the National League rule that a club must, by the time of the next National League AGM, have paid all of its football creditors in full and either agreed a compromise with other creditors or have paid them in full or it faces automatic relegation. These other creditors will include amounts due to Clarke Osbourne, which stood at over £5.2 million in the latest accounts for the club.”

 

[Ian Tarr]

Saw this on a linked in post from an Insolvency Practitioner I know

“The club automatically suffered a ten point deduction upon filing the notice of intention to appoint administrators back in February so whilst there is no further immediate points deduction it does not mean the club is out of the woods just yet.

This is because the National League rule that a club must, by the time of the next National League AGM, have paid all of its football creditors in full and either agreed a compromise with other creditors or have paid them in full or it faces automatic relegation. These other creditors will include amounts due to Clarke Osbourne, which stood at over £5.2 million in the latest accounts for the club.”

I could be wrong, but I'm not sure Mr Osborne counts as a football creditor in this scenario.

 

[Sexton Blake]

I could be wrong, but I'm not sure Mr Osborne counts as a football creditor in this scenario.

Agreed would be surprised if he does bearing in mind he owns the club

 

[Spoonz Red E]

I could be wrong, but I'm not sure Mr Osborne counts as a football creditor in this scenario.

From memory I think it's other Football Clubs, the National League / FA etc. and Torquay's contracted full time employees.

 

[Mid Devon Grecian]

I could be wrong, but I'm not sure Mr Osborne counts as a football creditor in this scenario.

That’s where the ‘and either agreed a compromise with other creditors or have paid them in full’ bit kicks in.

 

[The deluder]

Mr Osborne didn’t put in any money. All the debts were funded by big building firm who wanted to build houses on the ground.

 

[Mid Devon Grecian]

Mr Osborne didn’t put in any money. All the debts were funded by big building firm who wanted to build houses on the ground.

With respect, unless you have rock solid evidence to that effect I’d say it’s bull

Why would a ‘big building company’ stump up £5m unsecured to some guy who has no influence over the ownership of the stadium. It’s owned by the local authority.

I’m not aware of any ‘big’ building companies that are naive fools.

 

[The deluder]

It's in GIs accounts for 2023/2 as to why they stopped funding.

 

[Devon Red]

There are rumours that the new owner is the owner of Brewdog. The link is his girlfriend is Georgia Toffolo.

Not convinced by this personally.