Creditor's Voluntary Agreement

Basically, when the scum hit the wall (interesting analogy, I know!), they had to work out how much they could afford to offer the people who owed them money in repayment of their debts, and the period over which they will pay it. This has to be accepted by 75% of secured creditors to become legal.

Hence they got away agreeing to repay 5p in every pound they owed, whereas if they had been wound up, the only monies paid out to the debtors would have been from the sale of assets. Unsecured creditors would have got nothing unless there was money left over from paying the secured creditors in full after the asset sale.

Posted By: Iwan Husarmi on September 19th 2005 at 19:24:56

Message Thread

Scum's finanacial statements (Long) (NCFC) - Iwan Husarmi, Sep 19, 19:09:11
- Their debt is ?32.5m PLUS the loan notes..... (n/m) (NCFC) - oh arr, Sep 20, 03:35:14
- ?28m is peanuts to a company of NU's size (n/m) (NCFC) - oh arr, Sep 20, 03:33:41
- I dont think that ?1.5m is the whole of the interest due to NU each year (NCFC) - oh arr, Sep 20, 03:20:35
- I take it there will be a whip round at half time next home game. (n/m) (NCFC) - franklin, Sep 19, 19:50:57
- I actually do have some sympathy for your ordinary Town fan (NCFC) - Tomblander, Sep 19, 19:27:39
  - Well it's no fault of the supporters, (NCFC) - The Tudster, Sep 19, 19:29:31
- Makes lovely reading, doesn't it. (n/m) (NCFC) - The Tudster, Sep 19, 19:23:17
- For people who aernt financially minded.... (NCFC) - Klobo04, Sep 19, 19:11:48
  - Creditor's Voluntary Agreement (NCFC) - Iwan Husarmi, Sep 19, 19:24:56
  - I think its when you've already been through administration (NCFC) - pants, Sep 19, 19:21:54
  - Corporate (or company) Voluntary Arrangement. (NCFC) - The Tudster, Sep 19, 19:21:07
    - So basically... (NCFC) - Klobo04, Sep 19, 19:23:41
      - Yep. The lesson. If you are going to get yourself in debt, do it big style. (n/m) (NCFC) - The Tudster, Sep 19, 19:27:17
        
        like the Channel Tunnel ! (n/m) (NCFC) - oh arr, Sep 20, 03:36:46
    - i'd have disagreed (n/m) (NCFC) - Denizen, Sep 19, 19:22:02
      - bloody enter button, either i get full money or scum out of business, win-win (n/m) (NCFC) - Denizen, Sep 19, 19:22:59
        
        Emotionally yes, commercially no. (n/m) (NCFC) - The Tudster, Sep 19, 19:25:38

Reply to Message

In order to add a post to the WotB Message Board you must be a registered WotB user.

If you are not yet registered then please visit the registration page. You should ensure that their browser is setup to accept cookies.