21 Pence!!!

21p in the pound!

[You must be registered and logged in to see this link.]

Suprised?

Nobody should be - it was included in the P & A report --

8 3
"The joint superivisors have paid a first and final dividend in the sum of 21 pence in the Pound to unsecured creditors."


And what also isn't surprising... is that nobody really picked up on it ( or the season ticket money) and yet...

The GasB is being formed to keep an eye on things and yet these sort of things in an official report are going completely unnoticed by fans!

Incorrect...not 21p ....but 0.21 of a pence in the pound.

rick i think you mean 0.21p in the pound sorry to be picky

How can the amount agreed with the creditors 0.77 in the pound then be changed to 0.21 without consultation. I`m no cva expert but is that legal.

Sorry if I made a mistake...

But I read it as 21p ? I think the zero before hand is referring to the pounds column? As evident in para 8 2.

What do others think?

[You must be registered and logged in to see this link.]

Edited to add:

Wow... The way Tony Campbell is describing it, you appear to be correct Lawnie...

That is shocking. I cannot believe that people settled for less than a penny, that really shows some negotiating skills!

The report is very poorly written. It certainly looked like 21p in the £ which never made sense as there was only £100K in the pot.

If P & A are claiming there's new unsecured creditors then I guess the new list should be published?

At the time it was 0,77 of a penny in the pound .....and the laugh was that the paperwork showed we owed Swindon 4p.......which I believe meant they would get 0.0308 of a penny.....which is.......0.77 multiplied by 4 divided by 100 equals 0.0308 of a pound.......now a lot less.

And the unsecured creditors include the st john ambulance? Proud to be an argyle fan still? Glad the club was saved?

Greenjock wrote:

And the unsecured creditors include the st john ambulance? Proud to be an argyle fan still? Glad the club was saved?

Is that correct Jock?

Greenjock wrote:

And the unsecured creditors include the st john ambulance? Proud to be an argyle fan still? Glad the club was saved?

With respect that should be addressed to the M7 . They screwed EVERYONE .

GOB wrote:

Greenjock wrote:

And the unsecured creditors include the st john ambulance? Proud to be an argyle fan still? Glad the club was saved?

Is that correct Jock?

St Johns Ambulance were I believe one of the victims of the M7 .

greengenes wrote:

Greenjock wrote:

And the unsecured creditors include the st john ambulance? Proud to be an argyle fan still? Glad the club was saved?

With respect that should be addressed to the M7 . They screwed EVERYONE .

How do you view the difference between the Staff and St Johns Ambulance, GG?

They were owed money at one stage so I guess they are creditors. I know who's fault it was ultimately greengenes, doesn't make me feel any less comfortable right now.

GOB wrote:

greengenes wrote:

Greenjock wrote:

And the unsecured creditors include the st john ambulance? Proud to be an argyle fan still? Glad the club was saved?

With respect that should be addressed to the M7 . They screwed EVERYONE .

How do you view the difference between the Staff and St Johns Ambulance, GG?

No different at all . I do believe a fund was set up and money collected for the St Johns Ambulance . I'll try and find out but thats how I remember it .
As for the Club being saved I'm glad because for one thing local creditors are re engaged with the Club and getting business . I hope they put a premium on their charges to get more back . It will go down in history as shameful what happened but it wasn't the fans it was the greedy bastards who pillaged our Club .

Greenjock wrote:

They were owed money at one stage so I guess they are creditors. I know who's fault it was ultimately greengenes, doesn't make me feel any less comfortable right now.

No one does mate but a list of creditors was published on Pasoti and people were encouraged to give them business if possible .
The shameful thing is those responsible had enough personal wealth to settle all this but they had no conscience . Individually or collectively .

Pasoti regulars seem to think Chris Webb will go to war again over this news. I think they will find Mr president far too busy for that these days

If a fund was set up that's good news but what about all of the other creditors who are now finding out the pittance they were expecting has now been slashed?

Some people, including that nice Mr ridsdale did very well out of this, and some people like that nice Mr Brent have benefited from others misfortune, and yet still drag their heels and pay out in dribs and drabs, while ordinary people pay over the odds for shirts and tidy up litter for him.

Greenjock wrote:

Pasoti regulars seem to think Chris Webb will go to war again over this news. I think they will find Mr president far too busy for that these days

If a fund was set up that's good news but what about all of the other creditors who are now finding out the pittance they were expecting has now been slashed?

Some people, including that nice Mr ridsdale did very well out of this, and some people like that nice Mr Brent have benefited from others misfortune, and yet still drag their heels and pay out in dribs and drabs, while ordinary people pay over the odds for shirts and tidy up litter for him.

I suggest contacting Paul Stapleton at his firm and also P and A . They will have all the answers and contact details of the others responsible .

greengenes wrote:

GOB wrote:

greengenes wrote:

Greenjock wrote:

And the unsecured creditors include the st john ambulance? Proud to be an argyle fan still? Glad the club was saved?

With respect that should be addressed to the M7 . They screwed EVERYONE .

How do you view the difference between the Staff and St Johns Ambulance, GG?

No different at all . I do believe a fund was set up and money collected for the St Johns Ambulance . I'll try and find out but thats how I remember it .
As for the Club being saved I'm glad because for one thing local creditors are re engaged with the Club and getting business . I hope they put a premium on their charges to get more back . It will go down in history as shameful what happened but it wasn't the fans it was the greedy bastards who pillaged our Club .

Yes GG I agree. It'll be interesting to see if Brent accepts suppliers etc. that put a premium on their charges or if he replaces those that do.

Maybe one for the president?

greengenes wrote:

for one thing local creditors are re engaged with the Club and getting business .

Do you know that for certain, GG? Every single local creditor's getting business from the club?

That's not what I've heard.

Peggy wrote:

greengenes wrote:

for one thing local creditors are re engaged with the Club and getting business .

Do you know that for certain, GG? Every single local creditor's getting business from the club?

That's not what I've heard.

Didn't use the word "every" . Like walking on eggshells on here .

greengenes wrote:

Peggy wrote:

greengenes wrote:

for one thing local creditors are re engaged with the Club and getting business .

Do you know that for certain, GG? Every single local creditor's getting business from the club?

That's not what I've heard.

Didn't use the word "every" . Like walking on eggshells on here .

I know you didn't, but that's the inference some people might draw. Whereas I know for certain that not every local creditor is still getting business from the club.

(And note that, whilst it might sometimes feel like walking on eggshells, at least you could offer some memorabilia to other supporters on here without getting any flack.)

Edited for crap maths. Forget later quotes.

Coxside_Green wrote:

It seems to me when the original CVA was drawn up, there weren't any 'preferential creditors' amongst the unsecured creditors so all were equal. Now we're told further creditors came out of the woodwork. I think there might have been an issue with the value of the ground and the securities against it whereby 3rd and 4th mortgages became unsecured?. It's possible these were added to the CVA as preferential creditors. Unfortunately the report is so badly written, a cynic might say it was written badly to deliberately mislead (at whose request?). It's just possible these new preferential creditors were paid in full. In short, it stinks if correct.

P and A deceive people ? They wouldn't do that would they ? er .........

greengenes wrote:

Coxside_Green wrote:

It seems to me when the original CVA was drawn up, there weren't any 'preferential creditors' amongst the unsecured creditors so all were equal. Now we're told further creditors came out of the woodwork. I think there might have been an issue with the value of the ground and the securities against it whereby 3rd and 4th mortgages became unsecured?. It's possible these were added to the CVA as preferential creditors. Unfortunately the report is so badly written, a cynic might say it was written badly to deliberately mislead (at whose request?). It's just possible these new preferential creditors were paid in full. In short, it stinks if correct.

P and A deceive people ? They wouldn't do that would they ? er .........

That isn't what I said. They've no need to deceive in the report if all is above board.

Coxside_Green wrote:

greengenes wrote:

Coxside_Green wrote:

It seems to me when the original CVA was drawn up, there weren't any 'preferential creditors' amongst the unsecured creditors so all were equal. Now we're told further creditors came out of the woodwork. I think there might have been an issue with the value of the ground and the securities against it whereby 3rd and 4th mortgages became unsecured?. It's possible these were added to the CVA as preferential creditors. Unfortunately the report is so badly written, a cynic might say it was written badly to deliberately mislead (at whose request?). It's just possible these new preferential creditors were paid in full. In short, it stinks if correct.

P and A deceive people ? They wouldn't do that would they ? er .........

That isn't what I said. They've no need to deceive in the report if all is above board.