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Tangible Fixed Assets anyone?

Does NCFC. have a bank guarantee re. the Mckenzie transfer?

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[quote user="Canary Nut"]I wonder how much Coventry City FC. still owe NCFC. regarding the transfer of McKenzie? Moreover given the state of Coventry''s finances at the time of that transfer, I wonder if NCFC. received any form of guarantee relating to payment?[/quote]

 

May be Archant''s journalists could ask these questions at the next NCFC. press conference?

 

 

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When seeking to exit administration a Football League member club must comply with The Football League''s insolvency policy. The two fundamental requirements of that policy are: -

· Clubs pay their ''football creditors'' in full; and
· Clubs also obtain the consent of their other creditors to the continuation of the business, ordinarily by way of a Company Voluntary Arrangement (CVA)

 

So we would get the Mckenzie money at some point.

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I believe that if Coventry were to default on a debt to another football club, they would be at risk of losing their league status.

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Canary Nut,

I noticed this story emerged from the left field on WOTB last week. I wonder if someone in the club hierarchy is being mischevious by trying to implicate the person who negotiated the sale contract?

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The person that raised this from left field on the Wrath last week was me. I have nothing to do with the club hierarchy, but I am certainly seeking to throw this out as yet another example of Doncaster''s ineptitude.I can''t think that there can be any other company, finding itself in the chaos that NCFC is in, where the position of the Chief Executive would not be under serious consideration.

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Not necessarily. It really doesn''t matter what the league rules say, if Coventry don''t have the money then they can''t pay. Which I think was what went wrong at Boston United.

[quote user="Citizen Journalist Foghorn"]

When seeking to exit administration a Football League member club must comply with The Football League''s insolvency policy. The two fundamental requirements of that policy are: - · Clubs pay their ''football creditors'' in full; and · Clubs also obtain the consent of their other creditors to the continuation of the business, ordinarily by way of a Company Voluntary Arrangement (CVA)

 

So we would get the Mckenzie money at some point.

[/quote]

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King of Prussia,

Thanks for clearing that one up. I would be still interested to know what precautions the club have taken to ensure that it gets its money. For example, it is possible to make the seller purchase a bank gurantee or bond if due dilgenece reveals that they are skint.

Why is it when we buy a player we seem to pay straight away, yet when it comes to selling we are still waiting over a year after the palyer left the club.

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