http://www.yorkshirepost.co.uk/spor...-18m-of-claims-against-leeds-united-1-4571923 better start selling quick
We'll get Ross now but you can keep fat boy greek if you can't find him another club after letting him go
This would have all been taken into consideration already and wont affect the player budget. Nor will our other little court case with the greedy WYP
If someone gave you a £1 for every shot on target by Paynter you'd only need to find another £18,499,999.00
Just to get back on thread, chaps - I'm not sure I completely understand what's going on here. Does this mean we've just picked up another $18m of liabilities which we're expected to make an immediate payout on? @Cos if it is, won't it force us into administration again? Apologies if I seem alarmist, but I am alarmed! comes with not being a finances type.
oh that's convenient, shortly after we find out about the preference shares, claims for an amount similar to the one written off by the creditors who wanted ken bates in charge come out...
its simples really it means you owe 18.5 Million on secured loans. what the **** they are secured on **** knows as you own nowt anyways. the unsecured loans will be written off. Bates is also up **** street with the WYP for monies outstanding too, SO PAY UP OR CLOSE UP JUST KIDDING THEY ARE UNSECURED SO YOU PROBABLY WONT PAY A PENNY........
Hi Marko, The way it works is that during the administration claims are made against the club. Initial procedures are performed to validate those claims so that the admin process can be completed. At this point, the liquidators are simply announcing that the verification of claims has been completed and £18.5 million is what was owed and £4.7 million has been rejected.
Mighty, do they have SpecSavers or LensCrafters nearby? You may want to go see them (pun intended)! The article very clearly states "unsecured."
so £18.5 million has been paid out. So in administration barely any debt actually got written off...?
Johnny seek your own advice its simples really it means you owe 18.5 Million on secured loans. what the **** they are secured on **** knows as you own nowt anyways. the unsecured loans will be written off. Bates is also up **** street with the WYP for monies outstanding too, SO PAY UP OR CLOSE UP JUST KIDDING THEY ARE UNSECURED SO YOU PROBABLY WONT PAY A PENNY........
Thanks Mighty. Which part of this article is confusing you? Accountants agree £18m of claims against Leeds United Published on Tuesday 22 May 2012 11:32 MORE than 200 claims against Leeds United following the club’s fall into administration five years ago have now been agreed, a report by the liquidators has disclosed. The claims by unsecured creditors amount to £18.5 million, a report by accountants KPMG reveals. Another 61 claims worth £4.7m have been rejected. The club’s administration triggered the sale by KPMG to a newly-formed company led by current owner Ken Bates.
