Mr Bunny Posted February 8, 2011 Report Share Posted February 8, 2011 (edited) 81.6% of creditors agree to CVA. If true that's a shocker. Thought it would be a close run thing. In fact I was about to post this from the BBC web site: "Any objections by creditors could still be lodged within 28 days, after which Dundee FC Supporters' Society Ltd would become the majority voice at the club with 53.7% of the shareholding. The settlement offer would not involve the resolution of money owed to former players or management - who would be dealt with by the new owners That could pose problems with HMRC, to whom Dundee owe taxes of around £365,000, as they do not look favourably on any creditors receiving preferential treatment. However, if the club do not deal with football staff separately, they could find themselves the subject of further sanctions by the Scottish Football League. " So still more to come I think. Edited February 8, 2011 by Mr Bunny Quote Link to comment Share on other sites More sharing options...
GrantB Posted February 8, 2011 Report Share Posted February 8, 2011 Dundee FC make me sick to the very pit of my stomach. They should be flung out of the league. Quote Link to comment Share on other sites More sharing options...
Woodstock Jag Posted February 8, 2011 Report Share Posted February 8, 2011 Clearly for Dundee, 6 pence in the pound is "fair". Clearly, therefore, 3 points awarded for every 50 they earn should be fair too. What a vile Club. Quote Link to comment Share on other sites More sharing options...
GrantB Posted February 8, 2011 Report Share Posted February 8, 2011 Shame on the taxman. That is OUR money they are claiming. What right have they to accept 6p in the £ on our behalf? Quote Link to comment Share on other sites More sharing options...
Allan Heron Posted February 8, 2011 Report Share Posted February 8, 2011 SIX pence in the pound. Absolute disgrace. As a free market man, shouldn't you be respecting this decision as just such an expression Quote Link to comment Share on other sites More sharing options...
Junior Posted February 8, 2011 Report Share Posted February 8, 2011 Shame on the taxman. That is OUR money they are claiming. What right have they to accept 6p in the £ on our behalf? They didnt have a choice Current rules say that if 75% of creditors vote for the CVA then it is passed. Brennan and Melville = more than 75% so it was a certainty Joke of an outcome , couldve lived with 25/30% but 6% is just sticking 2 fingers up at the rest of Scottish football IMO. Quote Link to comment Share on other sites More sharing options...
Woodstock Jag Posted February 8, 2011 Report Share Posted February 8, 2011 (edited) As a free market man, shouldn't you be respecting this decision as just such an expression Dear me, social democrat... vested interests and unpaid debts are not in the slightest bit compatible with a free market. Besides, CVAs are tantamount to theft from creditors as far as I'm concerned. As a stakeholder in the government's interest, any taxpayer should be outraged. Edited February 8, 2011 by Woodstock Jag Quote Link to comment Share on other sites More sharing options...
kni Posted February 8, 2011 Report Share Posted February 8, 2011 Offer accepted subject to usual procedures - http://news.bbc.co.uk/sport1/hi/football/teams/d/dundee/9390813.stm They still have to pay former players, e.g. Fox, to avoid further sanctions. Quote Link to comment Share on other sites More sharing options...
Pie Of The Month Posted February 8, 2011 Report Share Posted February 8, 2011 I suggest we all pay £1.14 to go to Dens next visit. It's only fair after all. Quote Link to comment Share on other sites More sharing options...
GrantB Posted February 8, 2011 Report Share Posted February 8, 2011 They didnt have a choice Current rules say that if 75% of creditors vote for the CVA then it is passed. Brennan and Melville = more than 75% so it was a certainty Joke of an outcome , couldve lived with 25/30% but 6% is just sticking 2 fingers up at the rest of Scottish football IMO. I'd read something attributed to Bryan Jackson a while back that suggested that the taxman was responsible for 25% of the outstanding debt. It's a dark day for Scottish football. Yet again, cheats get to prosper at the expense of clubs like us. Quote Link to comment Share on other sites More sharing options...
yoda-jag Posted February 8, 2011 Report Share Posted February 8, 2011 81.6% of creditors agree to CVA. SIX pence in the pound. Absolute disgrace. £2.3 million of debt, written off with £138k. £23 million of debt in 2003: once again, majority written off, and without any punishment. Dundee FC = absolute disgrace. They should be flung out of the league. What a vile Club. x 2 Current rules say that if 75% of creditors vote for the CVA then it is passed. Brennan and Melville = more than 75% so it was a certainty Joke of an outcome , couldve lived with 25/30% but 6% is just sticking 2 fingers up at the rest of Scottish football IMO. I'd read something attributed to Bryan Jackson a while back that suggested that the taxman was responsible for 25% of the outstanding debt. It's a dark day for Scottish football. Yet again, cheats get to prosper at the expense of clubs like us. You can be sure in past few months, figures will have been manipulated to ensure Brennan & Melville will have been well in excess of the 75% of the debt, so these cheats escape yet again, essentially unscathed. I suggest we all pay £1.14 to go to Dens next visit. It's only fair after all. Or alternatively don't go, and give them the square root of fk all. Quote Link to comment Share on other sites More sharing options...
1 John Lambie Posted February 8, 2011 Report Share Posted February 8, 2011 £2.3 million of debt, written off with £138k. £23 million of debt in 2003: once again, majority written off, and without any punishment. So they are basically in profit from selling Griffiths, who went for £150k, shocking. Quote Link to comment Share on other sites More sharing options...
Blackpool Jags Posted February 8, 2011 Report Share Posted February 8, 2011 Dear me, social democrat... vested interests and unpaid debts are not in the slightest bit compatible with a free market. Besides, CVAs are tantamount to theft from creditors as far as I'm concerned. As a stakeholder in the government's interest, any taxpayer should be outraged. Shouldn't that be "any taxpayer should be outraged at being a taxpayer" according to the doctrines of the autarchist, democracy sceptic, free-market anarchist population? Quote Link to comment Share on other sites More sharing options...
Woodstock Jag Posted February 8, 2011 Report Share Posted February 8, 2011 Shouldn't that be "any taxpayer should be outraged at being a taxpayer" according to the doctrines of the autarchist, democracy sceptic, free-market anarchist population? Absolutely. But in so far as they are a taxpayer revert to what I said. Quote Link to comment Share on other sites More sharing options...
Gimp Posted February 8, 2011 Report Share Posted February 8, 2011 It's bloody disgusting. It's fraud. they never even once thought about paying their creditors. They're rightly laughing at every other team in scotland who has dealt with thing honestly. Disgusting club. If someone offered u £6 pound back after borrowing £100 quid then any normal person would give them a sound thrashing before demanding your money back within 24hrs or the blunt instruments will be swapped for stabbies. Maybe thats what they need, a kickin. Sometimes its the only language some people understand Quote Link to comment Share on other sites More sharing options...
Mr Bunny Posted February 8, 2011 Report Share Posted February 8, 2011 So they are basically in profit from selling Griffiths, who went for £150k, shocking. Surely that's what they're using to pay everyone their 6p apiece? Quote Link to comment Share on other sites More sharing options...
Mr Bunny Posted February 8, 2011 Report Share Posted February 8, 2011 It's bloody disgusting. It's fraud. they never even once thought about paying their creditors. They're rightly laughing at every other team in scotland who has dealt with thing honestly. Disgusting club. If someone offered u £6 pound back after borrowing £100 quid then any normal person would give them a sound thrashing before demanding your money back within 24hrs or the blunt instruments will be swapped for stabbies. Maybe thats what they need, a kickin. Sometimes its the only language some people understand Considering some of the guys who've owned the club in the past, they understand that well enough and are quite capable of giving the debtor the kicking/stabbing. Which is maybe why they think they can always get away with it. Quote Link to comment Share on other sites More sharing options...
stillresigned Posted February 8, 2011 Report Share Posted February 8, 2011 (edited) Considering some of the guys who've owned the club in the past, they understand that well enough and are quite capable of giving the debtor the kicking/stabbing. Which is maybe why they think they can always get away with it. I've got to say after reading this thread the people running Scumdee make our BoD's seem like choirboys, that couldn't be accurate, could it? Edited February 8, 2011 by stillresigned Quote Link to comment Share on other sites More sharing options...
1 John Lambie Posted February 8, 2011 Report Share Posted February 8, 2011 Surely that's what they're using to pay everyone their 6p apiece? Which still leaves them with £12k profit. Even so, they should have been forced to sell their high earners, eg; Harkins, Douglas, Higgins etc. 1. To pay more money to their creditors & 2, to reduce the expenditure. Quote Link to comment Share on other sites More sharing options...
The Incredible Adam Spark Posted February 8, 2011 Report Share Posted February 8, 2011 Surely that's what they're using to pay everyone their 6p apiece? Nope. The DFCSS raised the money for the CVA. Quote Link to comment Share on other sites More sharing options...
Pie Of The Month Posted February 8, 2011 Report Share Posted February 8, 2011 They are claiming they are using the Griffiths money plus the Sky cup money to run the club whilst £150k raised by the DFCSS is going towards the CVA. Ridiculous that they were allowed to maintain a team capable of competing in this division and use money raised since going into administration on maintaining that team until May rather than pay creditors. Quote Link to comment Share on other sites More sharing options...
The Incredible Adam Spark Posted February 8, 2011 Report Share Posted February 8, 2011 Dundee's creditors, in full. Quote Link to comment Share on other sites More sharing options...
Pie Of The Month Posted February 8, 2011 Report Share Posted February 8, 2011 Scott Fox is due a decent payoff since football debts weren't part of the CVA today. If he gets that £21k it might be a big reason why he was willing to stay here for first team football when there was meant to be other offers on the table. Quote Link to comment Share on other sites More sharing options...
The Incredible Adam Spark Posted February 8, 2011 Report Share Posted February 8, 2011 Someone will correct me if I'm wrong, but I don't think player wages are classed as football debt. I believe that's money owed to other football clubs. Quote Link to comment Share on other sites More sharing options...
Pie Of The Month Posted February 8, 2011 Report Share Posted February 8, 2011 Players are classed as football debt, the management aren't as far as I'm aware. Which is why Chisholm and Dodds had a vote today and voted against the CVA. Quote Link to comment Share on other sites More sharing options...
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