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Ottawa Green":24iaiz15 said:If you were in chat yesterday you may not be thinking this is a rumour anymore.
Ottawa Green":1s7hd17r said:If you were in chat yesterday you may not be thinking this is a rumour anymore.
SCH1959":172qi17i said:Ottawa Green":172qi17i said:If you were in chat yesterday you may not be thinking this is a rumour anymore.
What is chat please?
Andrew Owen":2fl7y7md said:SCH1959":2fl7y7md said:Ottawa Green":2fl7y7md said:If you were in chat yesterday you may not be thinking this is a rumour anymore.
What is chat please?
If you scroll to the top you'll see something called FlashChat. It's empty now but it fills up on match days (particularly away matches). There were about 20 of us in there yesterday.
oddball":1qvrs0cl said:If the club is losing 250K a month as has been mentioned on other threads why would directors continue to shell out that amount each month to keep the club afloat...its putting good money after bad....far better to go into administration...you cant finance our inflated squad on 7000 gates....
Milehouse Man":3cu01aa5 said:Administration normally consists of a process where an insolvency practitioner (administrative receiver) is appointed by a lender to realise a company's assets and pay preferential creditors and the lender's debt. In Argyle's case the major lenders would be Mastpoint (through the mortgage arranged in December 2009), Lombard for the loan for the freehold. In addition there would be a bank overdraft facility and loans in some form or other from the Director's themselves.
In addition others and in particular the HMRC have the legal ability to submit a winding up order to recover unpaid debts if an agreement to pay those debts is not able to be reached or the agreement to pay has been defaulted upon. HMRC have used this mechanism to try and recover unpaid taxes, normally PAYE and VAT.
Administrative receivers have been appointed at many football clubs as lenders and debtors have sought to secure a preferential creditor position ahead of the HMRC. This is what has happened recently at Palace and Portsmouth.
Unless there has been a massive falling out behind the scenes (and there is nothing to indicate that there has been) it is highly unlikely that any of the Directors are pushing for a loan repayment. Equally the same could be said of Mastpoint. The unknown is Lombard and the Bank.
However, the main concern is with HMRC who will be inyielding. They are looking to set an example in football after getting shafted by Pompey. It will not be a transfer embargo that we should worry about it is the pre-emptive actions of HMRC. I have no knowledge of whether Argyle are up to date with their taxes but HMRC are showing no sympathy particularly in the struggle to pay down the country's debt mountain. So if the HMRC are about to turn their attention again to Argyle after the winding up order issues at the turn of the year then administration may be the safest recourse with all the consequences that go with it. Worrying times indeed.
mrrapson":hfl49oce said:IF this happens the best we can hope for is a sugar daddy sees the potential. At the end of the day, the world cup bid and the stadium plans will see a good return on investment. Hopefully someone can see that. Chris Dawson or that Heaney geezer? Anyone got contacts in Dubai? Must be a massive potential Market for lge1 footy over there surely?