CVA Wrangle To Come

Last updated : 14 March 2008 By Bournemouth Co-Ordinator
During the press conference at Dean Court relating to deal to take the Club out of Administration, Gerald Krasner is quoted as saying, and relating would might be about to happen to the fiasco at Leeds United: "I've a fair idea. It's better than the Leeds United offer of a penny in the pound. Most football clubs have got away with three, four or five pence dividends in CVAs, but it's better than that. The creditors will come in distinct types, the Revenue and Customs who have their own agenda, the Football League who have their own agenda and then, stuck in the centre, are what I call the creditors who are the true fans of the club. They want to see the club survive and it's not about money for them necessarily. Whatever you think about him (Mostyn), and I know he's not everyone's favourite person in Bournemouth, he did put up a substantial six-figure sum that has enabled the joint administrators to trade from February to today, throughout March and into April, while we sort this out".

For the CVA to be successful, a 75% of the voting creditors, proportional to the amount they are owed, is now required in the creditors meeting on April 7th. This INCLUDES all season ticket holders who are entitled to 2/23 value of their season ticket at the April 7th meeting.