The Bastards Owed Us £465K (1 Viewer)
- Thread starter torchomatic
- Start date
jordan210
Well-Known Member
I put this int he other thread. But might be more relevant here. The monies they owed CCC was apparently for unpaid business rates
But was the council giving wasps favours that goes against the standard business rate process?
As if behind on business rates and fail to keep up with payments. The right to instalments is withdrawn and you should be sent to magistrates court.
“ Since 1 April 2017, if a reminder notice is issued and you do not bring your instalments up to date within 14 days, then the right to pay by instalments will be withdrawn. If full payment is not received you will be sent a Magistrates' Court summons and you will have to pay additional court costs as well as your Business Rates charge. The Council will apply to the Court for a liability order against the account, which grants us further powers to collect the money outstanding. The account may then be issued to an Enforcement Agent, who will collect the money on our behalf, referred for insolvency proceedings or back to Magistrates' Court for committal to prison proceedings.”
No idea how long they had not been paying their rates for. As I guess without this info we will never know
But was the council giving wasps favours that goes against the standard business rate process?
As if behind on business rates and fail to keep up with payments. The right to instalments is withdrawn and you should be sent to magistrates court.
“ Since 1 April 2017, if a reminder notice is issued and you do not bring your instalments up to date within 14 days, then the right to pay by instalments will be withdrawn. If full payment is not received you will be sent a Magistrates' Court summons and you will have to pay additional court costs as well as your Business Rates charge. The Council will apply to the Court for a liability order against the account, which grants us further powers to collect the money outstanding. The account may then be issued to an Enforcement Agent, who will collect the money on our behalf, referred for insolvency proceedings or back to Magistrates' Court for committal to prison proceedings.”
No idea how long they had not been paying their rates for. As I guess without this info we will never know
shmmeee
Well-Known Member
RV of the Arena is £650k according to VOA, standard rates are 51.2p in the pound so a years rates would be about £330k though reading that it seems if you miss a payment you’re expected to pay in full. So total guess but I’d say not paid since Spring/Summer maybe? It’s ten payments so each would be about £33k, and £240k is after 2-3 payments maybe? I assume it starts in April but not sure.
jordan210
Well-Known Member
So really they should had lost the right of a payment plan and been summoned and the council should have taken them to court.
I assume this dint happen as the council would not have wanted them to go insolvent over this.
tisza
Well-Known Member
Should take a leaf out of Hungarian book ( can't believe I'm saying that!!). Can't restart a similar business after admin until tax debt settled from previous entity.
As for restarting in Coventry won't be at CBS. Ashley not going to be handing out cheap rents. Rugby income not on a par with Championship football so rent would be way too expensive for them.
As for restarting in Coventry won't be at CBS. Ashley not going to be handing out cheap rents. Rugby income not on a par with Championship football so rent would be way too expensive for them.
shmmeee
Well-Known Member
Probably hoping for a new owner and not to put ACL into admin for obvious reasons.
shmmeee
Well-Known Member
Id imagine at the first sniff they’d have done what they did in October just earlier.
RegTheDonk
Well-Known Member
Other than the crooks left on the Council.
fatso
Well-Known Member
I'm waiting for a statement from the cunts at CCC, it should make for interesting reading.
What a fucking brilliant idea it was to sell the Arena to the London cunts in the first place, as if they couldn't forsee this shit happening.
Maybe Sisu will sue CCC to recoup the money they are owed by wasps, as they could blame CCC for instigating this cluster fuck of a situation in the first place.
What a fucking brilliant idea it was to sell the Arena to the London cunts in the first place, as if they couldn't forsee this shit happening.
Maybe Sisu will sue CCC to recoup the money they are owed by wasps, as they could blame CCC for instigating this cluster fuck of a situation in the first place.
Skyblueweeman
Well-Known Member
You laugh but that's something I could see happening!
fernandopartridge
Well-Known Member
But those people are irrelevant now and in any event proven dreamers. The companies are all being wound up. Wasps are to be taken over by a group of ex players with apparent designs on a return to London.
Earlsdon_Skyblue1
Well-Known Member
What makes it worse is that some of our very own supporters went along and propped up that regime. Some of these people are in hiding, others post stuff on this very forum and try to pretend as if they are now repulsed by Wasps so they don't get questioned.
'I just want to watch Premiership quality Rugby'.
'I got a free ticket'.
'It was SISU's fault'.
'Wasps is a good day out'.
Pathetic.
Cata
Well-Known Member
According to Simon Gilbert on twitter it was for Food & Bev sales at matches
nicksar
Well-Known Member
They have literally thieved money from Coventry City fans then.
Evo1883
Well-Known Member
Evo1883
Well-Known Member
Coventry council made it feel like the football club were a problem .
Now who at the council is going to pay for the lost 21 million ? Arseholes , worst council in England surely
shmmeee
Well-Known Member
The £21m is £7m to HMRC and £14m in Sport England Covid loans. It’s not council funds. Council were owed £230k business rates and another £40k or so.
Nick
Administrator
Will certainly be interesting to see what happens with their takeover and who is involved etc.
Their kitman who is seemingly employed at the training ground by the ex Wasps director seems to drone on about stuff happening.
Saddlebrains
Well-Known Member
shmmeee
Well-Known Member
shepardo01
Well-Known Member
It is a disgrace that anything bearing the name Wasps is allowed back at even the level of the championship....
Nick
Administrator
I proper love facts
Fact is, the mayor was gloating to city fans about how Wasps are always successful etc and was giving it the big one.
Fact is, all the involved companies owed millions and a hell of a lot of that was to local businesses
Fact is, we keep heating Duggins and Maton go on about jobs and the economy but how many jobs are impacted by Wasps getting things on finance they had no intention to pay.
Fact is, Reeves was looking to try and throw more money at them.
Paxman II
Well-Known Member
What a shambles. How were they allowed to keep trading? They forced us to stay in Birmingham 2 seasons when they could have had the rent money, food and beverage money etc. What kind of people were they running that club?
It was always clear to me a rugby club was never going to sustain itself with a stdium of that size. The council members must all be thick as two short planks in allowing it to happen just to spite SISU tbh.
It was always clear to me a rugby club was never going to sustain itself with a stdium of that size. The council members must all be thick as two short planks in allowing it to happen just to spite SISU tbh.
fernandopartridge
Well-Known Member
I'm no fan of the council but he's right
Grendel
Well-Known Member
They are not common at all.
CCFC "debt" is internal debt so as a going concern there is zero issue. Same for most clubs. The internal debt for Wasps is £16m - sports clubs are no different to anyone else - they can't not pay external creditors just as they are sports clubs. They have the same legal recourse as anyone else.
Its inconceivable to me that the Directors were not aware for months that they were trading insolvently. HMRC pulled the plug as it was clear that they were going to not get paid. I hope the directors are challenged as this seems to be a clear breach of director responsibility. The fact Reeves was even trying to get funding to support this is laughable. I can't fathom how they had cash to carry on - well I guess they just stopped paying everybody. Then they strung a series of lies to keep the bond payment at bay and also not to refloat.
Absolute disaster
Ashley also will I suspect blow stupid Anne Lucas and the unencumbered freehold drivel out the water very soon
Nick
Administrator
It effectively is unencumbered and debt free now, for £17m
Sky Blue Pete
Well-Known Member
That’s a big story that it’s a lot of money
Nick
Administrator
Exactly and how many jobs have been lost because of it?
They are all at it in the Rugby Union Premiership. Take a look at the debt table related to them all…..Wasps were top but many others are basically insolvent.
shmmeee
Well-Known Member
Football clubs too to some extent. I reckon it’s the way they can pull at heart strings other businesses couldn’t so they get special treatment.