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CVA Clarification Expected Tomorrow

Swindon Town Football Club are expected to announce how they plan to settle the CVA (Company Voluntary Agreement). The club were due to pay 900.000 on Saturday which was the final payment due.

Tomorrow marks a big day in the clubs history. There are many rumours about saying the club has been talking to a new investor. It could very well be that the club have settled the CVA with funds from new investors or perhaps another cash injunction from Sir Seton Wills.

For many months now the club has said they do not have the funds to pay the final instalment of 900,000 and that they were attempting to renegotiate the CVA.

So far the club released a statement to reassure fans the club has a future however many fans are still nervy and want clarification on how the club plans to sort out the CVA.

Should the club not make the final payment or be unsuccessful in renegotiating the CVA the club could be served with a winding up order.

Should the club be wound up, which we believe to be very unlikely, Chesterfield would be promoted back to League One whilst Torquay United would be promoted back to League Two to level up the divisions.

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The Journalist

Writer: Moonraker1969 Mail feedback, articles or suggestions

Date:Monday July 2 2007

Time: 6:35PM

Your Comments (oldest first)

Change to most recent first
For god's sake let's hope it's not the Wills family. They have been the disease of STFC for years. We need a new board and backer. Get rid of the deadwood.
Wellsy
Report Abuse
02/07/2007 20:34:00

 

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