Originally Posted by
islaydarkblue
Hi hmac,
I noticed your original post earlier but as we have already been down this route I decided not to get involved. However as you have mentioned my name I will try to give you my ‘expert knowledge’. However the person who should be answering your questions is Bill Brewster who was the treasurer of DFCSS at the time we entered Admin 2 and you were Chief Executive of Dundee Football Club.
I do not know if Bill Brewster posts on this forum.
Unfortunately I do not have my ‘Memories’ book to hand but from what I can remember there was a piece about how Bill Brewster was delighted when the £150,000 was successfully transferred to the bank account of the Administrator’s firm.
I also remember reading that Stuart Murphy Chairman of DFCSS announced prior to the home game against Partick Thistle at the beginning of November 2010 that the amount raised had broken through the £100,000 barrier.
If this information is correct and I have no reason to doubt why have you posted that the society had raised only £120,000 up to a few days before the CVA meeting. There were various fund raising initiatives between the beginning of November 2010 and the end of January 2011 including the auction which from memory raised over £11,000 and donations from various Dundee Supporters Clubs.
As far as I am aware the money raised from the bucket collections went into the fundraising total which eventually reached its target of £250,000 to allow the club to exit Administration on 12th May 2011.
Are you now telling us that the society were forced to hand over some of the money raised by the fans to the club to pay for everyday expenses including wages and salaries.
I have previously read all the documents from October 2010 until 12th May 2011 regarding Admin 2 on the Companies House website and it makes very interesting reading (to me).
The Income and Expenditure Account shows that the club made a surplus during the period of Admin 2 of from memory just over £35,000 due to everything being ‘cut to the bone’.
However this is only thanks to there being £85,000 in the club’s bank account when we entered Admin 2 in October 2010. Without this £85,000 the club would have made a loss and we might never have exited administration.