Cosmo
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Registered: 29th Mar 01
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Ive read in numerous places (and it is normally the case in 90% of comapnies that go into administration) that the vast majority of money you owe is to HMRC, and no matter who else you owe money to anything coming into the club will go to them before players, staff, anyone.
You said you know this isnt the case as you are 'a luton fan and frequently read up on us', so just asking for you to enlighten the unenlighted and share this information you have on who it is exactly you owe money to to be in this situation if the vast majority isnt HMRC.
Oh, and that link is just a whole load of articles copied on there, its certainly not the facts Im after.
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Marc
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Registered: 11th Aug 02
Location: York
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Liverpool underachievers in the League since 1990. Fact.
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Cosmo
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Registered: 29th Mar 01
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United underachievers in Europe since last century. Fact.
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Marc
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Registered: 11th Aug 02
Location: York
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Thats what makes it worse for you boys. European Cup is like an accountant playing golf at weekends but being better at it than being an accountant 
Thats a bit deep for 9:40 
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Cosmo
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quote:
Originally posted by Marc
Thats what makes it worse for you boys. European Cup is like an accountant playing golf at weekends but being better at it than being an accountant
Thats a bit deep for 9:40
FPMSL...thats a bit deep for anytime in Match (Sports  ) Day.
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Marc
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Location: York
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AndyKent
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I don't know, or profess to know, what Lutons debts are, but I do know that the administrators job - obviously - is to maximise incomings and shed outgoings as quickly as possible to make the club an attractive purchase.
I'd imagine they'd like to see the players paid as much as anyone else, since they are the only thing bringing in money.
Even if a lot of the replay money does go to paying back debts, thats a still good thing - its debt we'd have still had hanging over our heads otherwise and makes the club infinately more viable the better we are doing.
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Cosmo
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That is not how Administration works! The administrators are there to formulate the best way to pay back the most money to those you have debts with, this could include closing down the club completely and selling off all your assets...they dont give a shite about the players and if they are getting paid, its not their problem.
Their are also laws as to who gets paid first, and the fact is that the VAST amount of companies that enter administration tend to owe a large chunk to HMRC as thats one of the easiest things to defer when you are in trouble. So the administrator knows that money coming in will be going straight to them, especially now this deadline is about to pass to find a buyer for the club.
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Marc
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Registered: 11th Aug 02
Location: York
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Thats what I thought, why would the admin care about the club! They want their money!
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Cosmo
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quote:
Originally posted by Marc
Thats what I thought, why would the admin care about the club! They want their money!
The only one possible reason to care about the club is if they see the best option is to keep the club running as will be a profitable and attractive investment for someone. But from everything Ive been reading they have been losing millions upon millions a year, so I really doubt thats their main option - which is probably correct considering they dont have any bidders on deadline day.
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AndyKent
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Registered: 3rd Sep 05
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From what I've seen/heard out of the club, the idea of going into administration (in this case) was not to sell the club off, but to wipe the slate clean of past debts.
The administrators have said they'd don't want the club to disappear and are pressing to make the club work as a business rather than see it fold - they may have not stated this in the press, but has certainly been mentioned.
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Robbo
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Registered: 6th Aug 02
Location: London
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Generally administrators dont care but thats not necy a fair comment...
as said previously, the first to get paid are the administrators, then HMRC, then anyone who has a fixed or floating charge over any assets of the business. Once and only once all of those are satisfied can any other creditors (including employees) even be considered
Shite but true unfortunately
FYI a fixed charge is like a mortgage ie a loan secured by property
A floating charge is a loan etc secured by a class of assets, for example a loan secured against all plant & machinery a company owns
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Marc
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Registered: 11th Aug 02
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Any good at golf Robhino?
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Cosmo
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Registered: 29th Mar 01
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quote:
Originally posted by Marc
Any good at golf Robhino?
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Robbo
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Registered: 6th Aug 02
Location: London
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Not especially, can drive pretty well but the rest of my game is pretty poo atm 
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Teddy
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Registered: 19th Jul 04
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Ill be at Anfield for the reply........
Cant wait - me and Nath has a good time in the pub yesterday 
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AndyKent
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Registered: 3rd Sep 05
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Got my ticket for it too now, and one each for Jonny/Buzz too. Should be a goodun
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Cosmo
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Registered: 29th Mar 01
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You all better be coming to the Clarence Pub before hand 
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Teddy
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Registered: 19th Jul 04
Location: Northampton Drives: VW Bora 1.9TDi pd130
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aPK - how you travelling up? How much was your ticket?
We could hire a minibus
Now that would be funny.
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AndyKent
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Registered: 3rd Sep 05
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No idea where it is, but will see. Will be with my Dad and some of his work collegues, depends what they do.
Do my best to see you there though
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AndyKent
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Registered: 3rd Sep 05
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Dads on about hiring a minibus or getting a coach.
Tickets were £24 each from the office down at the stadium.
[Edited on 07-01-2008 by aPk]
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Cosmo
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quote:
Originally posted by aPk
No idea where it is, but will see.
Right by the ground, about 10min walk away so not packed with tossers (until you lot arrive!).
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AndyKent
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Shouldn't be too hard to find
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Cosmo
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Registered: 29th Mar 01
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A is the pub
B is where to park the minibus (its a School, think it costs £10)
C is the ground
http://maps.google.co.uk/maps?f=d&hl=en&geocode=17394620748193604289,53.437330,-2.945670%3B17465068371139679932,53.433509,-2.953467&time=&date=&ttype=&saddr=Utting+Ave+%4053.437330,+-2.945670&daddr=Utting+Ave+%4053.433509,+-2.953467+to:53.431207,-2.960536&mra=mi&mrcr=1&mrsp=2&sz=16&sll=53.433226,-2.951267&sspn=0.009511,0.028667&ie=UTF8&ll=53.433699,-2.950087&spn=0.009511,0.028667&z=16&om=1
[Edited on 07-01-2008 by Cosmo]
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Nath
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Registered: 3rd Apr 02
Location: MK
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Still no news from my Dad about our tickets I would have a go but he is paying so I'll wait
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