DB9
Very well known Exeweb poster
Pete should see the words allowed when we're talking about the GAWS!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!I believe it's allowed on a thread with 'Torquay' in the title.
I could be wrong, but I'm not sure Mr Osborne counts as a football creditor in this scenario.Saw this on a linked in post from an Insolvency Practitioner I know
āThe 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 Ā£5.2 million in the latest accounts for the club.ā
Agreed would be surprised if he does bearing in mind he owns the clubI 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.I could be wrong, but I'm not sure Mr Osborne counts as a football creditor in this scenario.
Thatās where the āand either agreed a compromise with other creditors or have paid them in fullā bit kicks in.I could be wrong, but I'm not sure Mr Osborne counts as a football creditor in this scenario.
With respect, unless you have rock solid evidence to that effect Iād say itās bullMr Osborne didnāt put in any money. All the debts were funded by big building firm who wanted to build houses on the ground.