Smaller Creditors To Loose Out?

Last updated : 09 March 2008 By Bournemouth Co-Ordinator
With smaller creditors making up a possible £800,000 of debt the Club has, it is being reported that these smaller stake holders could be biggest loosers should a new deal go through.

Krasner is quoted as saying: "Effectively, we are looking at the bid that will give the highest return to those whose money is already tied up in the football club. That is the purpose of why we are appointed. We will then accept the highest bid on the basis that the money is immediately deposited in full with our solicitors until such time that a voluntary arrangement has been agreed or otherwise with the creditors and the share in the club transferred. It is possible that once the bid has been accepted, further outline details will be given but not full details because I believe it is our duty to inform the creditors first rather than the general media. Those who are losing money are entitled to find out from me what the situation is".