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RUFC - Creditors Decision Imminent

RUFC -  Creditors Decision Imminent

Rotherham United Chief Executive, Paul Douglas has told Radio Sheffield that a decision from the creditors on whether or not to accept their CVA is imminent. If the creditors decide to reject the deal then the Millers will start on minus points next season

'I think an announcement regarding the CVA won't be any later than early next week,' Mr Douglas said.

Responding to the statement from the Football League yesterday, Mr Douglas said, 'The content of the statement didn't surprise us. We were aware that certain items of documentation were still needed. But the timing of the statement didn't help us.'

The Football League have stated that the Millers will have to forfeit a bond of £750,000 which Mr Douglas says still has to be discussed.

'Whether the money would have to be lodged before we move or whether it's something that would be a legally binding commitment by the club that we would have to pay if we don't move back to Rotherham in four years we shall have to talk about.'



Click here to join in the debate on the club forum.

Writer:Herringthorpe
Date:Friday July 11 2008
Time: 5:02PM

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Comments

0
Not only us confused over the bond then
herringthorpe
11/07/2008 17:43:00
0
Is any of the money owed to HMRC? Don't rate your chances if it is unfortunately.
monkeyg
11/07/2008 21:08:00
0
We owe the taxman yes.
herringthorpe
11/07/2008 22:02:00
0
It gets more confusing by the moment folks, you have my simpathy, If not for those who got you in the mess.
C T E
12/07/2008 09:33:00
0
But it's going to be alright - the club keep telling us so! Mind, this is the same club who said we were stopping at Millmoor and who said all the paperwork had been sorted for Don Valley.....
herringthorpe
12/07/2008 13:49:00
0
Nowt's ever straight forward with RUFC though!!!
TheVillager
12/07/2008 18:56:00
0
the taxman must get his way..........funny that they can mess up and nothing happens....
ernshaw
14/07/2008 12:39:00
0
exactly, ernshaw - you owe them money and they want it straight away, they owe you money and you get it at the start of the next tax year
herringthorpe
14/07/2008 14:38:00
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