Total debts
Total debts
Sorry if I'm going over old ground but what debts has the new Darlo carried over from the old.A bit confused after reading in the Echo that creditors are unlikely to receive their £200k.
For example are we still commited to paying the ex players o/s wages or is all our debt wiped off when the old Club is liquidated.
For example are we still commited to paying the ex players o/s wages or is all our debt wiped off when the old Club is liquidated.
- Christophano
- Posts: 1841
- Joined: Mon Aug 17, 2009 7:50 pm
- Team Supported: Darlington
Re: Total debts
We took on the players contracts under a tupe agreement, so we have to pay their unpaid wages.
The Northern Echo story refers to the none football creditors of DFC 2009 Ltd (including Raj) and is nothing to do with the club.
The Northern Echo story refers to the none football creditors of DFC 2009 Ltd (including Raj) and is nothing to do with the club.
-
- Posts: 107
- Joined: Fri Aug 03, 2012 8:05 pm
- Team Supported: Darlington FC
Re: Total debts
Amounts to about £110k.Christophano wrote:We took on the players contracts under a tupe agreement, so we have to pay their unpaid wages.
Re: Total debts
...and is that it?
-
- Posts: 107
- Joined: Fri Aug 03, 2012 8:05 pm
- Team Supported: Darlington FC
Re: Total debts
Yep, I think so.micra3 wrote:paid over 3 years
-
- Posts: 107
- Joined: Fri Aug 03, 2012 8:05 pm
- Team Supported: Darlington FC
Re: Total debts
Yep. We're not liable for the non-football creditors.leedscol wrote:...and is that it?
Re: Total debts
Yes, the total we needed was 200k - 30k to complete the purchase of the club that the FA now won't recognise, 64k wages for May and June, and approx 100k owed to players from the months they didn't get paid or didn't recieve full pay.
I presume the initial 94k was paid out of the money we've raised and the c100k is the only debt we have, to be paid over 3 years as said.
I presume the initial 94k was paid out of the money we've raised and the c100k is the only debt we have, to be paid over 3 years as said.
Re: Total debts
Thanks that helps to clarify it.
So who got the £30k?
I'm sure we will honour the Players' wages if we can but are we legally liable?
So who got the £30k?
I'm sure we will honour the Players' wages if we can but are we legally liable?
Re: Total debts
Yes, we are legally liable because we TUPE'd them over. The only thing we're not liable for is the non footballing creditors (that stays with the old company).
- theoriginalfatcat
- Posts: 6770
- Joined: Wed Jul 15, 2009 7:40 pm
- Team Supported: Darlington
Re: Total debts
Old news maybe but I take it this means that Cooper/Dryden lose the balance due on their contracts? This will please Mr R.S.
Profile pic
Feethams the Panda. 28 Jan 2012.
Now extinct!
Feethams the Panda. 28 Jan 2012.
Now extinct!