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Post by Deleted on Nov 3, 2020 19:30:03 GMT
I can't pretend to understand a lot with debt and the legalities around it, but it seems like just the thing the club needed to have a clean slate. Hopefully someone with more knowledge of the subject might enlighten us. Timing isn't great with the whole TWP thing. The frothing TWP outraged have turned their ire on us now. Never a sustainable outfit in Toronto, why should they have got back loaded home games at the business end of the season, been able to basically call themselves a Canadian team in name only. Wonder what this all does to the Ottawa and NY? If I was the RFL I'd asking for a Gaurantee of cash in their own bank in case things go nipples north again. |
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Post by Carnster on Nov 3, 2020 19:34:36 GMT
Check out this promo vid by Toulouse for that 12th spot. Very slick. I think they tick all the boxes to be honest...
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Post by Deleted on Nov 3, 2020 19:41:00 GMT
The sad thing is we're not going to get to say goodbye to some brilliant players.
Lussick for me was as instrumental in reaching the Grand Final as Jacko was.
Flash has been the consument professional.
If Tyke calls it a day he too has been so brilliant.
And Gil (he's not worth it) Dudson has been as good a prop as we've seen in a generation.
Sad we don't get to give some future club legends the send of they des.
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Post by JJR on Nov 3, 2020 20:36:24 GMT
This is a possibility
Think the CVA came over from the John Wilkie era and when Marwan took over I think he promised to pay it off at a certain rate. He did pay one instalment I think, but no more because the Club didn't have the income. He apparently lost £5M in some way through his companies but left the £2,3M? CVA.
So if the Club is to move forward it needs to get rid of the CVA as it's a debt hanging overv the Club, but if it does there is a penalty from the League. I think Wakefield paid their CVA.
So presumably the Club, Rosler the CVA expert, could have done the deal with the League and the creditors i.e. paying the CVA at a small rate say 10p in the £. owed or even to wipe out the CVA. So the creditors get little or nothing and the Club is penalised 6 points for breaking the rules. But the Club doesn't have a debt of £2,3M
The Club will never be in a position to pay the creditors the £2,3M so it's a good end to the story for the Club and a realistic outcome for the creditors. It has effectively nullified its big debt, the cloud hanging over the Club. If that is the case it's good news and well done Rosler.
And this is the best season to lose the 6 points: there's no relegation, we've got to Wembley and we have a beat up squad with a small chance of reaching the top 6
Not sure if this is totally the case but about how it could work
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Post by Deleted on Nov 3, 2020 20:44:24 GMT
I still worry about a points deduction for the Warrington game.
Saints refusing to travel has helped ease that worry though.
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Post by prestwichred on Nov 3, 2020 23:04:17 GMT
I still worry about a points deduction for the Warrington game. Saints refusing to travel has helped ease that worry though. Why? we finish bottom so what. No relegation and a huge debt of the clubs necks, well played the board at Salford. |
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Post by Deleted on Nov 3, 2020 23:20:31 GMT
I still worry about a points deduction for the Warrington game. Saints refusing to travel has helped ease that worry though. Why? we finish bottom so what. No relegation and a huge debt of the clubs necks, well played the board at Salford. I more mean that we will have points deducted next season, the cynic in me thinks it might come back to bite us on the Arrise. |
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