Bury face winding up order tomorrow

[Townerslovechild]

Someone should start another thread about Stewart "getting his hand in his pocket " .

[Hazza Has A Gazza]

This stems back to the other season when they were signing higher profile players on good money, got one season wonder Lee Clark in and thought they were going to p iss the league. I remember them being promotion favourites at the start of that season. Obviously they got relegated and the money they were throwing around has come back to bite them.

Meh.. Been there done it

[flourbasher]

It appears as though thecprevious owners have remortgaged the club but a sizeable proportion of the funds that were raised were given away to a third party......but Bury are left to pay all of the monthly repayment sums

That doesn't sound like ethical financial practice to me. I,ve stopped short of using other terms to describe the situation

[wrinkly]

Can maybe get it through on his own vote together with football creditors.

Anyone know what majority is required to get the cva approved?

At least 75% of creditors (by size of debt) and over 50% of shareholders (by shareholding)

[WanChaiMiller]

At least 75% of creditors (by size of debt) and over 50% of shareholders (by shareholding)

Thanks wrinkly.

[PokerMillersSwinton]

So basically its like me going to the bank and saying i need 10 grand for a car..i will pay £209 pound a month for 5 years the interest will be 2500 making it £12500 in total.. Buy only actually getting 6 grand ffs who runs this club coco the clown .

[WanChaiMiller]

So basically its like me going to the bank and saying i need 10 grand for a car..i will pay £209 pound a month for 5 years the interest will be 2500 making it £12500 in total.. Buy only actually getting 6 grand ffs who runs this club coco the clown .

But then someone else buys that loan off you and only offers the guy you got it from 25% of what is owed.

[Grist_To_The_Mill]

Strange that we still have this irrational desire for football clubs to survive under any means possible

The club owes the tax man about £1 million of which most if not all will never be paid, and we think that’s ok.

Should however a company like Amazon, or some well known celebrity avoids paying £1million tax we think that’s scandalous.

Odd.

[flourbasher]

Indeed.
And RUFC did it twice.
Don't think we're best placed to criticise them

[Grist_To_The_Mill]

Indeed.
And RUFC did it twice.
Don't think we're best placed to criticise them

You would have thought that the authorities would act sooner on unpaid tax than they currently do.