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CVA Clarification Expected Tomorrow

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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Writer:Moonraker1969
Date:Monday July 2 2007
Time: 6:35PM

Comments

0
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
02/07/2007 20:34:00
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League Table

# Team P W D L Pts. GD
C Sheff Utd 46 30 10 6 100 45
P Bolton 46 25 11 10 86 32
3 Scunthorpe 46 24 10 12 82 26
4 Fleetwood 46 23 13 10 82 21
5 Bradford 46 20 19 7 79 19
6 Millwall 46 20 13 13 73 9
7 Southend 46 20 12 14 72 17
8 Oxford 46 20 9 17 69 13
9 Rochdale 46 19 12 15 69 9
10 Bristol Rovers 46 18 12 16 66 -2
11 Peterborough 46 17 11 18 62 0
12 MK Dons 46 16 13 17 61 2
13 Charlton 46 14 18 14 60 7
14 Walsall 46 14 16 16 58 -7
15 Wimbledon 46 13 18 15 57 -3
16 Northampton 46 14 11 21 53 -13
17 Oldham 46 12 17 17 53 -13
18 Shrewsbury 46 13 12 21 51 -17
19 Bury 46 13 11 22 50 -12
20 Gillingham 46 12 14 20 50 -20
R Port Vale 46 12 13 21 49 -25
R Swindon 46 11 11 24 44 -22
R Coventry 46 9 12 25 39 -31
R Chesterfield 46 9 10 27 37 -35
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