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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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# Team P W D L Pts. GD
1 Sheff Utd 38 23 9 6 78 30
2 Bolton 38 21 9 8 72 26
3 Fleetwood 38 19 11 8 68 19
4 Bradford 39 16 18 5 66 16
5 Scunthorpe 39 18 10 11 64 20
6 Southend 38 16 12 10 60 11
7 Millwall 37 16 12 9 60 9
8 Bristol Rovers 39 15 12 12 57 0
9 Oxford 38 16 7 15 55 5
10 Rochdale 37 15 9 13 54 4
11 Walsall 39 13 14 12 53 -2
12 Peterborough 39 14 10 15 52 0
13 Wimbledon 38 12 15 11 51 3
14 Northampton 39 14 7 18 49 -6
15 Charlton 39 10 17 12 47 3
16 MK Dons 38 12 11 15 47 -1
17 Bury 39 12 9 18 45 -7
18 Gillingham 39 11 12 16 45 -16
19 Oldham 39 10 14 15 44 -12
20 Shrewsbury 38 11 10 17 43 -12
21 Port Vale 37 10 11 16 41 -17
22 Swindon 39 9 9 21 36 -19
23 Chesterfield 39 8 9 22 33 -26
24 Coventry 39 6 11 22 29 -28
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