Official: Leeds to go out of business

[bhafc4eva]

http://www.thefootballnetwork.net/boards/read/s277.htm?447,8042312

More to follow.

 

[John Dorian]

before I get all excited...what ? why ? where ? when ?

 

[bhafc4eva]

The creditors have rejected the final offer of 8p in the pound.

 

[John Dorian]

what does this mean exactly ?

 

[bhafc4eva]

http://www.leedsunited.com/page/NewsroomDetail/0,,10273~1065797,00.html

That is what was said before the challenge was made, not good news.

 

[TSB]

The creditors have rejected the final offer of 8p in the pound.

That's not what i read...it said that the CVA is being challenged by the Inland Revenue. I'd say there's a 25% chance they'll go under & a 50% chance they'll be chucked out of the league (they should be imho)

 

[Marshy]

its bollox i reckon

 

[bhafc4eva]

That's not what i read...it said that the CVA is being challenged by the Inland Revenue. I'd say there's a 25% chance they'll go under & a 50% chance they'll be chucked out of the league (they should be imho)

I understand, either way not looking good.

There goes our guanranteed sell out and 4 points this season.

 

[clippedgull]

What does CVA stand for?

 

[Cian]

Company Voluntary Arrangement. I believe its when a company puts itself in to liquidation rather than a creditor putting it in to it?

 

[TSB]

What does CVA stand for?

Creditors Voluntary Agreement?

Ok MYOB got it right...i was close

 

[clippedgull]

Company Voluntary Arrangement. I believe its when a company puts itself in to liquidation rather than a creditor putting it in to it?

Thanks

 

[Barrel of Fun]

Message further down

"Inland revenue shud be ashamed of themselves."

Should they!?

 

[Storer68]

HM Revenue to challenge Leeds Utd
Ken Bates' proposed buyback of Leeds United is to be challenged by HM Revenue & Customs, the BBC has learned.
The announcement comes a day after the news that the administrators at the football club had persuaded Mr Bates to raise his offer to creditors.

Mr Bates is now offering creditors 8p in the pound instead of his initial proposal of just a penny.

Leeds went into administration on 4 May, before Mr Bates won backing to buy it back on 4 June.

The club has debts of £35m.

Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/1/hi/business/6266508.stm

Published: 2007/07/03 15:27:49 GMT

© BBC MMVII

 

[Simster]

Great news. I hope they demand 25%.

It looks like Ken Bates is right in the shit.

 

[Kinky Gerbil]

Please be true, Swindon and Leeds in one day.

I hate tuesdays, but this one is a bit special

 

[supaseagull]

What does CVA stand for?

Ironically it can also stand for Cardio-Vascular Accident!!!

 

[byf]

I dont like leeds in any shape or form and am glad they went down...but I wouldnt want to see any club go out of business to be honest..not even palace!

They have a good fan base..a great old school ground and had many great players at the club...throughout the years....

I think personally they should just give us david healy...and be done with it.

 

[bhafc4eva]

I dont like leeds in any shape or form and am glad they went down...but I wouldnt want to see any club go out of business to be honest..not even palace!

They have a good fan base..a great old school ground and had many great players at the club...throughout the years....

I think personally they should just give us david healy...and be done with it.

Agree, i might not like them too much but hate to see any one go to the cleaners.

 

[pasty]

I dont like leeds in any shape or form and am glad they went down...but I wouldnt want to see any club go out of business to be honest..not even palace!

I concur Sir!

Although I will enjoy a belly full of laughs at Mrs P's Leeds supporting ex-husband's expense should it come to pass.