NEXT HOME GAME - TBC
NEXT AWAY GAME - SUPPORTERS XI ARE PLAYING WORCESTER AT MALVERN ON SUNDAY AUGUST 3rd AT 3.00pm

Monday, June 30, 2014

HUST Concern About CVA


Martin Watson, vice-chairman of HUST, has spoken to BBC Hereford and Worcester about Hereford United going into a CVA.

At the High Court earlier today, a seven day adjournment of a winding up order brought by former manager Martin Foyle was agreed after it emerged that the club was considering a payment plan.

"For any proposal it's 75% of the value of the creditors, not the individual people or companies, but the total value to agree to it," said Watson.

"The agreement would then become a legally binding document.

"But the one thing that is an issue for the football club is that league rules state that 100% of creditors must be paid back.

"The figure brought up by Tommy Agombar is £1.3M. If you get about £325K of that turning it down, then there isn't going to be an agreement.

"HMRC are owed at least £100K, Martin Foyle's figure is around £150K, other football creditors are around £150K so you are looking at a agreement being quite difficult."