Senna 735 Posted April 5, 2012 Share Posted April 5, 2012 Creditor Claim (£)Trade & Expense Creditors 5,544,508Ticketus (amount of claim to be confirmed) 26,700,000HM Revenue & Customs – Excluding Big and Small Tax Cases 14,372,042HM Revenue & Customs – Small Tax Case TBCHM Revenue & Customs – Big Tax Case TBCSupporter Debenture Holders 7,736,000Football Related Creditors 1,063,082Employees TBCTotal 55,415,632Trade and expense creditors - if we've £5.5m of debt due them, then that would in most cases mean there's some credit facility to pay back these creditors, so no immediate panic there.Ticketus are willing to deal, and if PM is to be believed, then they'll even take a hit to get their cash back, which can only be good.HMRC - pence in the pound now that they've shown that they're willing to deal via a CVA, so nothing's changed here, even, or especially if the BTC goes against us.Debentures - these won't get paid back now, and if things go really tits-up, these will be at the back of the creditor queue. Sorry guys if you've got one.Football creditors - see other creditors above, and just over £1m is small potatoes.The laying out of the figures makes it look far, far worse than it is, but remember, this isn't a £55m debt we've suddenly accrued today, this has been there for months now, so don't panic about it. Administrators will continue to deal with this, and with our turnover, we can deal with this if all parties are willing to enter a CVA.A few tough seasons ahead, but wasn't that the case anyway? Quote Link to post Share on other sites More sharing options...
Senna 735 Posted April 5, 2012 Author Share Posted April 5, 2012 (this is just my take on it, and is no way guaranteed to be anything other than an estimate of the situation) Quote Link to post Share on other sites More sharing options...
Fury 256 Posted April 5, 2012 Share Posted April 5, 2012 Also worth noting that TBK bid removes £35m of that figure immediately because they remove the full Ticketus figure and the 8m for debentures and these would still be valid through CVA exit. Quote Link to post Share on other sites More sharing options...
Mick9005 7 Posted April 5, 2012 Share Posted April 5, 2012 If TBK bid is successful and going by what has been said above 35m is shed from the creditors pot. If we were for talking sake to lose the tax cases and owed £49m for btc and £5m for stc the debt would stand at £75m if TBK bid was (for talking sake again) £15m that would leave creditors with 20p in the pound. This is saying we lose the tax cases and that TBK were preffered bidders of course. IMO hmrc will do a deal as I doubt it would have gotten as far as it has without knowing they would deal in a Cva Quote Link to post Share on other sites More sharing options...
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