The9 Posted 20 May, 2009 Share Posted 20 May, 2009 Nicked, of all places, from ThePompeyChimes.net, a link to Luton's takeover group from last summer, with a succinct explanation of the Golden Share and CVA procedure they entered. If we're lucky enough to get that far, this might help clarify things for people. http://trustinluton.org/2020mission.aspx I'd like to post the text but there's a sticky about that kind of thing... Link to comment Share on other sites More sharing options...
derry Posted 20 May, 2009 Share Posted 20 May, 2009 As long as SFC stays out of administration it will not need a CVA as the creditors will negotiate an agreed payment or method of payment with the club itself. This scenario does not apply to SFC Ltd. Link to comment Share on other sites More sharing options...
The9 Posted 20 May, 2009 Author Share Posted 20 May, 2009 As long as SFC stays out of administration it will not need a CVA as the creditors will negotiate an agreed payment or method of payment with the club itself. This scenario does not apply to SFC Ltd. That's extremely arguable. I would imagine that as the League has decided to penalise Saints 10 points and claims the FC is in Admin, they may have already invoked the removal of our Golden Share as part of the "other administration regulations" that were mentioned after the -10, so it'll be interesting to see if they think we've got one and how we'll get it back without going through their usual processes. More to the point, even if we survive we don't have the time to take this through the courts to prove it before the June cut-off for being part of the League, and being in Admin come the start of another season is -15. Anyway, I thought it would be useful for people to know how that bit works as it MIGHT affect us. Link to comment Share on other sites More sharing options...
Doctoroncall Posted 20 May, 2009 Share Posted 20 May, 2009 As long as SFC stays out of administration it will not need a CVA as the creditors will negotiate an agreed payment or method of payment with the club itself. This scenario does not apply to SFC Ltd. Unfortunately I cannot see that stopping the FL adding to the penalty we already have through some obscure association (or pressure from other teams on the FL to seek 'justice'). Link to comment Share on other sites More sharing options...
crouchi Posted 20 May, 2009 Share Posted 20 May, 2009 I think the Football League has already called our flimsy bluff on administration, hence the reluctance of anyone to commit funds to save us Link to comment Share on other sites More sharing options...
benjii Posted 20 May, 2009 Share Posted 20 May, 2009 This is where the consequences of the FL making up rules on an ad hoc basis may come to haunt them as there is a danger of getting into a completely intractable mess on this one. Link to comment Share on other sites More sharing options...
Alain Perrin Posted 20 May, 2009 Share Posted 20 May, 2009 I like the references to " Luton Town Supporters Club and Loyal Luton Supporters Club will also provide advice and support to help deliver the great future we have planned." It's like the People's Front of Judea.. Link to comment Share on other sites More sharing options...
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