Ouch...

Just put my sowester and galoshes on to wade through the steaming pile that is t**tted.co.uk...

"Town's debt to Norwich Union grew from ?25.17 million to ?25.9 million in 2004/05. The rest of the overall ?35.75 million debt (up from ?34.4 million) comprises ?4.7 million to Barclays (pre-administration overdraft), ?2.07 million in loan notes taken out by 'high value' investors since administration, ?2.43 million in accruals and deferred income, ?90,000 to other creditors, ?79,000 of obligations under financial leases and hire purchase contracts and ?384,000 owed on the CVA (Company Voluntary Arrangement).

Bowden says the club continue to meet with former administrators Deloitte and Touche and their major creditors on a regular basis: "Deloitte and Touche don't have to approve the accounts, but they are the supervisors of the CVA and we meet with them every quarter."

Full story... User Posted Link

Posted By: Jim Nasium, Nov 9, 21:14:26