mattyd

We need to add a powerful centre back and right back to the squad and a striker. Too many kids and they will be a light weight side in a physical league. Experience is vital if we want promotion, the kids can learn the game in the Johnston Paints Trophy, League Cup etc. There are more games to play than ever.

Maybe the stay aways and protests did contribute in that they lost confidence in Lowe et al and pulled the plug? After all Crouch claims he had the support of the bank.

Nobody would risk £500,000 if they were not intending to complete. The money is in place and now the lawyers do their bit (that will cost a couple of hundred thousand as well), add to this the costs of financial brokers/accountants etc and you are talking serious cash!

Superb news! It looks better now

I am positive there is serious interest in the club. Pinnacle have not got enough money to buy the club let alone finance the business over the short term. These messers should now be history and Mr Fry can conclude a deal with somebody who has real money!

Prehaps a deal is close and the new owners sanctioned it? It is a day after the deadline after all...

SLH will sell the assetts. I think the club and SMS to one bidder, Jacksons farm to another and the training ground? SLH's debts will not pass to SFC as in law it is not theirs to have to pay. Instead the proceeds of the assett sale will pay a dividen in the pound to preferential creditors and Begbis Traynors wedge. The ground is a secured creditor and they could call in the assett (SMS) and insist on selling it for themselves but this is very unlikely. Aviva have already indicated that a deal will be negotiated. I would not be surprised if this is around the value of the land which is all they would get for it if they sold to other developers.

It means SLH are going to be wound up but SFC sold as an assett. No buyer wants the debts just the club and I hope the ground. We all knew this anyway!

£9 million is taken to pay the preferential creditors and Mr Fry's fees. The overdraft etc will be a creditor and rank behind the preferential creditors for any left overs. Aviva being a secured debt is not included in the insolvency, but they may do a deal

No deal is done but he is negotiating with people he has checked out (credit checks, bank references etc) and can prove they have the money. If you remember this was a pre condition of entering into negotiations. This is GOOD news, any deal of this kind takes time. Chill!

If SFC is projected to become insolvent then the rules do apply. Directors have to be sure the company is a going concern for the whole duration of the contract (i.e. the season) or they are breaking the law. The answer would be to put the money in a holding account and sell the tickets. This would be ringfenced should the company fail. However, they still could not use the cash until the future is clear

The Insolvency Act 1986 makes it illegal for a company to trade insolvently or acccept money from customers when they are aware of possible impending insolvency. This would be fraud as the directors are unsure whether they can honour the contract of supplying league football for the whole of next season. The directors would face possible company director disqualification action and/or criminal proceedings.

£1000 a day is typical for a board appointment of this nature. However, considering our financial state I think he was reckless charging so much.

The administrator is paid by the hour (different rates for different grades) and is paid from the estate of SLH not SFC. The price the club is sold for is added to the SLH estate and a dividen paid after his fees to creditors (according to the pecking order). This could be 0.1p in the pound or nothing for non preferential creditors like shareholders. Mr Fry's sole aim is to realise maximum return for creditors, investigate the causes of the insolvency and report them to BERR and wind up SLH. he has no duty to the fans.

Why will there be a further points deduction?

No deadline because SFC is still solvent and paying its way. Simple as that!

Hope any Surman deal includes sell on clauses etc. Then it would be a fair deal.

The farm and Staplewood could be sold seperately if this realises the most money. SFC is one part of the SLH. They could all go seperately.

SLH's debts are not paid in full. The creditors are given little choice other than to take what the Insolvency Practisioner realises. The IP's duty is to recover what he can and then wind SLH up. We already know the secured creditors want a deal. The total price will be less than half the debts.

the call centre told me the corners are now being sold. I am in the northern/Kingsland corner.

the club will be wound up if it runs out of money and no funds are forthcoming. SLH will be wound up if nobody buys it

Possible, the club is an assett owned by SLH. It could be sold seperately to the ground and then SLH can be liquidated or it could be sold together.

At the AGM Lowe said Sheffield Utd had sent Dyer back having only played him a handful of times. This article is rubbish

I think we will sell because many have let the club down and should be part of a clear out regardless of our finances. The players seem to escape their part in our mess!