Statement regarding FA Appeal for bond requirement and CVA update
The Club can confirm that it lost its appeal yesterday for the placing of a bond. The FA appeal board decided not to hear the case regarding the CVA amendment potential penalty.
As much as its extremely disappointing the Club is determined to abide by the result and work with the Ryman in partnership.
Therefore the bond has already been transferred to the Ryman League and email confirmation sent.
We would like to put on record our thanks to the various parties that have helped raise the bond funds without which the club would not be able to start the season.
The Club has asked for confirmation it will therefore start its games on Tuesday (25th) away at Staines Town or at East Thurrock United this Saturday (22nd).
The Club can also confirm that a CVA amendment has been passed. Out of 102 listed creditors only 7 voted against the proposal of which just 2 of those creditors are accepted by the club has having genuine debt claims.
The Supervisor will be issuing a full report in due course but only YES vote claims were investigated and NO votes were accepted at face value for the purpose of the votes which still passed.
The Club has worked hard with numerous of the other creditors to get their support by not voting against the proposal and we are extremely grateful to them for giving the club at last a clean slate to move forward after so many years.
The regime by volunteers over the last two years has run an almost self sufficient club and this policy will continue with lessons learnt from the past and a fantastic opportunity to continue to move forward.
I’m sure everyone at the Club is looking forward to starting the season on the pitch at last.
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