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Club Statement.
Discussion started by Yorki (IP Logged), 14 June, 2019 14:40
14 June, 2019 14:40
Please could somebody explain the latest statement from YC regarding CVA, dividends etc because I do not understand the business jargon used to be honest?

Sorry not my field of understanding.

14 June, 2019 15:33
Hi Yorki, we have discussed this under the thread "Board Update". In essence the club owe money to creditors and have put forward a lump sum that is not as much as the total all the creditors are owed. Thus the club is offering to pay the creditors a proportion of what they are legally entitled to, called "a dividend". If all (or I think more than 75% agree) then the payment is made and the club moves forward. If the offer is declined by more than 25% (by value) of the creditors then the club will go into Administration and the creditors risk getting nothing.

14 June, 2019 16:07

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