Total debts

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leedscol
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Total debts

Post by leedscol » Sat Aug 04, 2012 7:01 pm

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.

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Christophano
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Re: Total debts

Post by Christophano » Sat Aug 04, 2012 8:32 pm

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.

TheOnlyWayIsUp
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Re: Total debts

Post by TheOnlyWayIsUp » Sun Aug 05, 2012 1:26 pm

Christophano wrote:We took on the players contracts under a tupe agreement, so we have to pay their unpaid wages.
Amounts to about £110k.

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micra3
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Re: Total debts

Post by micra3 » Sun Aug 05, 2012 1:58 pm

paid over 3 years :?:
M I C R A 3

leedscol
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Re: Total debts

Post by leedscol » Sun Aug 05, 2012 2:38 pm

...and is that it?

TheOnlyWayIsUp
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Re: Total debts

Post by TheOnlyWayIsUp » Sun Aug 05, 2012 3:56 pm

micra3 wrote:paid over 3 years :?:
Yep, I think so.

TheOnlyWayIsUp
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Re: Total debts

Post by TheOnlyWayIsUp » Sun Aug 05, 2012 3:57 pm

leedscol wrote:...and is that it?
Yep. We're not liable for the non-football creditors.

Quakerz
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Re: Total debts

Post by Quakerz » Sun Aug 05, 2012 5:01 pm

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.
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leedscol
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Re: Total debts

Post by leedscol » Sun Aug 05, 2012 7:31 pm

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?

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Hilly
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Re: Total debts

Post by Hilly » Mon Aug 06, 2012 8:51 am

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).

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theoriginalfatcat
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Re: Total debts

Post by theoriginalfatcat » Wed Aug 08, 2012 10:10 pm

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.
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