Leeds - Which 4?

[Zed Seagull]

You'd be surprised.

Surprised?!!!!!!! Just a fookin tad!

 

[Starry]

Surprised?!!!!!!! Just a fookin tad!

Well, the creditors with the most 'pull' are set to accept the 1p/£1 offer and some are even set to write off their debts if Bates new group are successful in getting the CVA stuff approved.

Got a while to go until June 1st so time for someone to come in with a better offer, but when the major creditors are all Bates' other companies I don't expect anything to change. Which is unfortunate for the little people in the chain.

 

[itszamora]

In that case, hopefully other clubs and indeed players will realise doing business with Leeds means you are likely to get screwed over and hence won't bother any more.

 

[NMH]

Does it mean these creditors can stay in, keep their shares and capitolise if they 're-mature'?

 

[rusty redeyes]

So which 4 refused to the wage deferal?

Leeds players agree wage deferral

All but four of Leeds United's players have agreed to a request to defer their wages, reports BBC Radio Leeds.
The club's administrators KPMG liaised with the Professional Footballers Association and the Football League before entering a deed of deferral.

Thirty two of the 36-strong squad have agreed in order to help secure the long-term future for the club.

Leeds, who have been relegated to League One, went into administration before the end of the season.

The wages of the players who have agreed to the deferral will be paid after the approval of the CVA at a meeting of the creditors next month.

The administrators will pay those who did not sign the deed of deferral.

Chairman Ken Bates is hoping to buy back the club, who are £35m in debt, on 1 June when their creditors who are owed money are expected to be offered one penny in the pound.

The sensible ones, those that don't fancy a relegation scrap.

 

[Starry]

Does it mean these creditors can stay in, keep their shares and capitolise if they 're-mature'?

Nope, the FSF, Krato are going to say yes to the 1p/£1 and Leeds United (new company) need 75% of the value vote to get their deal approved. Between the various subsidiaries they were at 69%ish anyway. And others have been given golden handshakes and sweeteners to say yes or agree to give up their debt.

Had the updated CVA documents today, the debt is now up to £42m with saleable assets of £690k.

There are unsecured debts of £26million and about £125k to pay them.

 

[El Presidente]

Nope, the FSF, Krato are going to say yes to the 1p/£1 and Leeds United (new company) need 75% of the value vote to get their deal approved. Between the various subsidiaries they were at 69%ish anyway. And others have been given golden handshakes and sweeteners to say yes or agree to give up their debt.

Had the updated CVA documents today, the debt is now up to £42m with saleable assets of £690k.

There are unsecured debts of £26million and about £125k to pay them.

Any idea for what period the players are going to accept deferred wages? No doubt Bates has emotionally blackmailed them into accepting the deal.

Presumably if they had declined the deferral offer they would be entitled to leave on a free transfer under league rules, which makes you wonder why Healey's agent has not persuaded his client to refuse what Bates had put before him.

At least there are not too many win bonuses to accrue for.

 

[Happy Seagull]

It's about time clubs were expelled from the league if they can't spend within their means.

Throwing money around and then paying back 1p in the £1? Thats a f***ing disgrace

 

[fatboy]

Ever find out which player spilled the team selection to Palace?

 

[Starry]

Any idea for what period the players are going to accept deferred wages? No doubt Bates has emotionally blackmailed them into accepting the deal.

Presumably if they had declined the deferral offer they would be entitled to leave on a free transfer under league rules, which makes you wonder why Healey's agent has not persuaded his client to refuse what Bates had put before him.

At least there are not too many win bonuses to accrue for.

It's being done on a week by week basis, but the agreement is they will wait on the creditors meeting on June 1st and go from there. If an agreement is not reached we go to court on June 27th for the winding up petition to be heard.

Bates has certainly been blackmailing various individuals over what they are owed and entitled to.

I just want to get to June 1st for the vote to heard either way, the creditors with the most pull are definitely going to say yes to Bates' offer. But we have taken advice, along with others, from the insolvency firm who put right many of Ridsdale's wrongs and I think there is a growing band of people - the other clubs, various smaller individuals (plumbers, electricians, food sales, mobile electricians, the starry family etc), the football league and the FA who are going to say no to the deal. I don't know if that's enough to tip the 75% (or 50% if can be proven that the three with the most pull Astor, FSF and Krato have direct connections to the new company taking Leeds over).

I don't know why about Healy or any of the other players. I guess they will wait it out until June 1st and see what happens.

 

[Nemesis]

Does it mean these creditors can stay in, keep their shares and capitolise if they 're-mature'?

Bates is involved-that means he'll only be interested in how his own bank balance can be increased-with toal disregard to anybody else.