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Don Direction
 Post subject: Re: Bury
PostPosted: Tue Jun 25, 2019 1:04 pm 
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dons50 wrote:
epdon wrote:
"Bury owner Steve Dale offers to settle some - but not all – of club’s debts
• Proposal to pay football creditors in full and 25% of other money
• Deal would avoid winding-up petition but not (12) points penalty"

https://www.theguardian.com/football/20 ... ts-penalty


How does the football world get away with the rule that football creditors get paid in preference to others? It’s outrageous.


What you're referring to is insolvency whereas this is a CVA.
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dons50
 Post subject: Re: Bury
PostPosted: Tue Jun 25, 2019 2:17 pm 
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Posts: 4784
Don Direction wrote:
dons50 wrote:
epdon wrote:
"Bury owner Steve Dale offers to settle some - but not all – of club’s debts
• Proposal to pay football creditors in full and 25% of other money
• Deal would avoid winding-up petition but not (12) points penalty"

https://www.theguardian.com/football/20 ... ts-penalty


How does the football world get away with the rule that football creditors get paid in preference to others? It’s outrageous.


What you're referring to is insolvency whereas this is a CVA.


Even in an insolvency, administration for example, there is a special arrangement for football clubs where other football clubs (for example for transfer fees) are preferential creditors. So another football club ranks above the local company providing, say, laundry services.
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Don Direction
 Post subject: Re: Bury
PostPosted: Tue Jun 25, 2019 2:26 pm 
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Posts: 2911
dons50 wrote:
Don Direction wrote:
dons50 wrote:
epdon wrote:
"Bury owner Steve Dale offers to settle some - but not all – of club’s debts
• Proposal to pay football creditors in full and 25% of other money
• Deal would avoid winding-up petition but not (12) points penalty"

https://www.theguardian.com/football/20 ... ts-penalty


How does the football world get away with the rule that football creditors get paid in preference to others? It’s outrageous.


What you're referring to is insolvency whereas this is a CVA.


Even in an insolvency, administration for example, there is a special arrangement for football clubs where other football clubs (for example for transfer fees) are preferential creditors. So another football club ranks above the local company providing, say, laundry services.


That's EFL rules not insolvency rules. They would still have to pay any charges and of course HMRC first.
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dons50
 Post subject: Re: Bury
PostPosted: Tue Jun 25, 2019 2:29 pm 
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Posts: 4784
Don Direction wrote:
dons50 wrote:
Don Direction wrote:
dons50 wrote:
epdon wrote:
"Bury owner Steve Dale offers to settle some - but not all – of club’s debts
• Proposal to pay football creditors in full and 25% of other money
• Deal would avoid winding-up petition but not (12) points penalty"

https://www.theguardian.com/football/20 ... ts-penalty


How does the football world get away with the rule that football creditors get paid in preference to others? It’s outrageous.


What you're referring to is insolvency whereas this is a CVA.


Even in an insolvency, administration for example, there is a special arrangement for football clubs where other football clubs (for example for transfer fees) are preferential creditors. So another football club ranks above the local company providing, say, laundry services.


That's EFL rules not insolvency rules. They would still have to pay any charges and of course HMRC first.


Yes, of course, HMRC and secured creditors come first. I'm sure you're right that it's EFL rules. I think it's outrageous that EFL can create rules that disadvantage ordinary small companies compared to other football clubs.
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DippyDon
 Post subject: Re: Bury
PostPosted: Fri Jul 05, 2019 1:22 pm 
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They have until the 31st July to sort out a buyer according to one of their fans on 1FF otherwise the entire club is wound up. So I guess that we may not know until 3 days before our fixture whether said fixture will take place.

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MKAylesburyDon
 Post subject: Re: Bury
PostPosted: Fri Jul 05, 2019 2:57 pm 
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Joined: Sat Sep 23, 2017 8:27 pm
Posts: 1605
DippyDon wrote:
They have until the 31st July to sort out a buyer according to one of their fans on 1FF otherwise the entire club is wound up. So I guess that we may not know until 3 days before our fixture whether said fixture will take place.


I believe Aldershot in 1992 were the last club to actually go bust and not be able to complete fixtures in the football league since the there must have bee over a hundred examples (most of them Bolton :mrgreen: ) of clubs going into administration and surviving so I would bet that will be the case again.
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Kempstondons6
 Post subject: Re: Bury
PostPosted: Tue Sep 24, 2019 5:38 pm 
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Joined: Mon Sep 25, 2017 2:41 pm
Posts: 2847
https://www.buryfc.co.uk/news/2019/sept ... low-clubs/
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donmentor
 Post subject: Re: Bury
PostPosted: Tue Sep 24, 2019 6:44 pm 
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Posts: 1526
Luton Town FC and fans did nothing wrong. But it was them that carried the can to the tune of -30 points for another's wrongs.
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Don Direction
 Post subject: Re: Bury
PostPosted: Tue Sep 24, 2019 7:43 pm 
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Posts: 2911
Does Steve Dale still own them?
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Scribble
 Post subject: Re: Bury
PostPosted: Tue Sep 24, 2019 7:46 pm 
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Location: Scribble Towers
BertieWoostersDonsClub wrote:
Kempstondons6 wrote:
https://www.buryfc.co.uk/news/2019/september/request-to-our-former-fellow-clubs/

I disagree with most of that, and personally think Bury should start outside the EFL, at level 5 at the least.
However, football's an emotive sport, people love a little club / underdog sob story, and we live in an age where online protests and campaigns gather momentum and get results, so I fully expect that Bury will get their way and will be in league two next season.
I wouldn't agree with it, but that's what I expect to happen.


I disagree with all of it, basically they cheated their way to promotion, by spending way beyond their means, paying players in league 2 up to 7k per week, blatantly obvious there was no way of servicing the enormous debts accrued. No, they made the choice, now suffer the consequences.

Level 7 is the new starting point
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