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18 Million <yikes>

Discussion in 'Leeds United' started by MIGHTY, May 22, 2012.

  1. MIGHTY

    MIGHTY Del-Boy

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  2. Millwallsteve

    Millwallsteve Waterloo's Finest
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    We'll get Ross now but you can keep fat boy greek if you can't find him another club after letting him go <laugh>
     
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  3. MIGHTY

    MIGHTY Del-Boy

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    things are so bad even Ken Bates has put in a transfere request <laugh>
     
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  4. bucks_is_leeds

    bucks_is_leeds Jonny big spuds
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    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 <whistle>


    <yikes>
     
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  5. Whiteyorkist

    Whiteyorkist Active Member

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    #5
  6. TC (Lovely Geezer)

    TC (Lovely Geezer) Well-Known Member

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    If someone gave you a £1 for every shot on target by Paynter you'd only need to find another £18,499,999.00 <cheers>
     
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  7. kiwi

    kiwi Well-Known Member

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    I'll have you know he's scored 3 goals for us! <laugh>
     
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  8. MIGHTY

    MIGHTY Del-Boy

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    Deflections and flukes dont count <ok>
     
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  9. Whitejock

    Whitejock Well-Known Member

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    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.
     
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  10. TC (Lovely Geezer)

    TC (Lovely Geezer) Well-Known Member

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    Yes Jock - You are in the **** <ok>
     
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  11. MarkoLUFC

    MarkoLUFC Well-Known Member

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    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...
     
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  12. JonnyLosAngeles

    JonnyLosAngeles Well-Known Member

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    Don't panic, kids, it's just a wrap up of the admin 5 years ago. All taken care of already.
     
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  13. Whitejock

    Whitejock Well-Known Member

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    Thanks Jonny. I was really concerned there.
     
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  14. MarkoLUFC

    MarkoLUFC Well-Known Member

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    I'm going to need some embellishment on that information Jonny.
     
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  15. MIGHTY

    MIGHTY Del-Boy

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    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........
     
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  16. JonnyLosAngeles

    JonnyLosAngeles Well-Known Member

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    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.
     
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  17. JonnyLosAngeles

    JonnyLosAngeles Well-Known Member

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    Mighty, do they have SpecSavers or LensCrafters nearby? You may want to go see them (pun intended)!

    The article very clearly states "unsecured."
     
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  18. MarkoLUFC

    MarkoLUFC Well-Known Member

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    so £18.5 million has been paid out. So in administration barely any debt actually got written off...?
     
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  19. MIGHTY

    MIGHTY Del-Boy

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    Johnny seek your own advice <ok>

    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........
     
    #19
  20. JonnyLosAngeles

    JonnyLosAngeles Well-Known Member

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    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&#8217;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&#8217;s administration triggered the sale by KPMG to a newly-formed company led by current owner Ken Bates.
     
    #20

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