Swansea City CVA details....

He basically acquired the club for £1 and tried to close it and its assets to pay off the debt and pocket the profit.

Not sure if you saw my edit but he sold Stuart Roberts to Wycombe for next to nothing when he was one of the most sought after wingers in the lower league at the time. He was utterly clueless to his true worth and Robert's sale should have put us in good stead to service the debt and still continue as a club.

He then called in all our senior players and tried to sack them all just to see out the remainder of the season before winding the club up.

He was a parasite praying on our desperate club for a few bucks.

What a guy.

Nah, as I read that, I had some recollections come back to me. Jacks did well to oust him.

Don't often swear so make the most of it - but he is a true c**t.

If we didn't oust him then there is no doubt we wouldn't have existed come the seasons end, none what so ever.

For that I will always be grateful to Mel Nurse who bought the debt off 9th floor. If there is any real regrets about the situation is how Mel was treated afterwards by those within the club.

They wouldnt even let him sell his book in the club shop. Absolutely no idea why or what went on behind the scenes at the time. The guy is an absolute hero in my eyes.

Vice chairman Leigh Dineen talks about the CVA in jackmag magazine..

Funnily enough, most of the Cardiff fans aren't interested in the truth, look how quiet this thread is! It's not as convenient as saying "the jacks cheated their way to the top" as one clueless idiot put it on the Radio Wales phone-in the other day. All these local businesses that "went to the wall" is something that they have always wished was real. Something to tarnish the club with and to make them feel better.

Surely the point is the club deprived companies and individuals of what they were entitled to namely full debt not 5% or whatever it was? Maybe they didnt go bust but they was obviously effected in some way.

Surely the point is the club deprived companies and individuals of what they were entitled to namely full debt not 5% or whatever it was? Maybe they didnt go bust but they was obviously effected in some way.

Yes they were effected, effected positively.

I was owned money by the club after doing some work for them over a number of years, I lost that money at the the time. But now, I have been payed back more than I was owned and carry on to do work for them.

Weird how no Cardiff fans want to talk about this now that the truth is out eh?

Question : what happens to the companies that voted against the CVA? Were they forced to accept the terms of it regardless?

Question : what happens to the companies that voted against the CVA? Were they forced to accept the terms of it regardless?

Think so.

Question : what happens to the companies that voted against the CVA? Were they forced to accept the terms of it regardless?

Think so.

But you don't know 100%.

Question : what happens to the companies that voted against the CVA? Were they forced to accept the terms of it regardless?

THE future of debt-ridden Swansea City was virtually assured last night after creditors voted overwhelmingly in favour of accepting the club's five pence5P in the pound offer.

The Swans who are 1.7m in the red and in danger of going out of business, saw Company Voluntary Arrangement (CVA) as the only way of securing their future.

And yesterday, at a sombre meeting at Swansea's Marriott Hotel, the vast majority of unsecured creditors backed the club's proposal which means the Swans now have to pay around pounds 450,000 to wipe its financial slate clean.

Most of that sum (pounds 358,000) is owed to the Inland Revenue.

Former manager Colin Addison and his assistant Peter Nicholas voted against the CVA offer, as did former youth team manager Paul Compton and ex-defender Mathew Bound.

Ex-Swansea manager John Hollins, who is claiming pounds 250,000 from the club, was not present at the meeting but he sent a representative to vote against the offer.

But Hollins scored a bureaucratic own goal - his vote did not count because he failed to return the appropriate forms to Stones & Co, the accountants overseeing the CVA, which would have allowed someone to vote on his behalf.

Hollins's vote would not have mattered anyway. The club needed creditors responsible for 75 per cent of the unsecured debt to vote in favour of CVA and in the end they got 92.4 per cent.

Question : what happens to the companies that voted against the CVA? Were they forced to accept the terms of it regardless?

THE future of debt-ridden Swansea City was virtually assured last night after creditors voted overwhelmingly in favour of accepting the club's five pence5P in the pound offer.

The Swans who are 1.7m in the red and in danger of going out of business, saw Company Voluntary Arrangement (CVA) as the only way of securing their future.

And yesterday, at a sombre meeting at Swansea's Marriott Hotel, the vast majority of unsecured creditors backed the club's proposal which means the Swans now have to pay around pounds 450,000 to wipe its financial slate clean.

Most of that sum (pounds 358,000) is owed to the Inland Revenue.


Former manager Colin Addison and his assistant Peter Nicholas voted against the CVA offer, as did former youth team manager Paul Compton and ex-defender Mathew Bound.

Ex-Swansea manager John Hollins, who is claiming pounds 250,000 from the club, was not present at the meeting but he sent a representative to vote against the offer.

But Hollins scored a bureaucratic own goal - his vote did not count because he failed to return the appropriate forms to Stones & Co, the accountants overseeing the CVA, which would have allowed someone to vote on his behalf.

Hollins's vote would not have mattered anyway. The club needed creditors responsible for 75 per cent of the unsecured debt to vote in favour of CVA and in the end they got 92.4 per cent.

So that's a yes then. Can understand why some investments got annoyed by this though from a personal point of view.

Question : what happens to the companies that voted against the CVA? Were they forced to accept the terms of it regardless?

THE future of debt-ridden Swansea City was virtually assured last night after creditors voted overwhelmingly in favour of accepting the club's five pence5P in the pound offer.

The Swans who are 1.7m in the red and in danger of going out of business, saw Company Voluntary Arrangement (CVA) as the only way of securing their future.

And yesterday, at a sombre meeting at Swansea's Marriott Hotel, the vast majority of unsecured creditors backed the club's proposal which means the Swans now have to pay around pounds 450,000 to wipe its financial slate clean.

Most of that sum (pounds 358,000) is owed to the Inland Revenue.


Former manager Colin Addison and his assistant Peter Nicholas voted against the CVA offer, as did former youth team manager Paul Compton and ex-defender Mathew Bound.

Ex-Swansea manager John Hollins, who is claiming pounds 250,000 from the club, was not present at the meeting but he sent a representative to vote against the offer.

But Hollins scored a bureaucratic own goal - his vote did not count because he failed to return the appropriate forms to Stones & Co, the accountants overseeing the CVA, which would have allowed someone to vote on his behalf.

Hollins's vote would not have mattered anyway. The club needed creditors responsible for 75 per cent of the unsecured debt to vote in favour of CVA and in the end they got 92.4 per cent.

So that's a yes then. Can understand why some investments got annoyed by this though from a personal point of view.

Taking into account of course that not one local business voted against the CVA.

Where are the 7 that voted against it then?

Where are the 7 that voted against it then?

Don't be silly... The welsh NHS Ambulance Trust aren't local of course!

Where are the 7 that voted against it then?

Don't be silly... The welsh NHS Ambulance Trust aren't local of course!

Good read, very interesting, don't listen to most of the remedials on this board.

Gets posted all the time here and lots of on topic discussions get side tracked by it, so here it is in one thread where we can refer back or link to when it gets brought up.

Here is the total list of companies owed - can anyone find one that ceased trading as a result?

Here is one for you to consider:

Neath Port Talbot council were never paid and was written off, so in effect "I have been robbed". And on another note, Swansea council still owe £3.2m to neath port Talbot council as a loan for building the council house, hence, there will be no extension until this is re-paid. Just saying like!!!

Gets posted all the time here and lots of on topic discussions get side tracked by it, so here it is in one thread where we can refer back or link to when it gets brought up.

Here is the total list of companies owed - can anyone find one that ceased trading as a result?

Here is one for you to consider:

Neath Port Talbot council were never paid and was written off, so in effect "I have been robbed". And on another note, Swansea council still owe £3.2m to neath port Talbot council as a loan for building the council house, hence, there will be no extension until this is re-paid. Just saying like!!!

So you are blaming Swansea City for Swansea Council debts now?

Where are the 7 that voted against it then?

Don't be silly... The welsh NHS Ambulance Trust aren't local of course!

It's not a business though Bazz is it, and it didn't go bust? Oh hang on, your going to go down the road that SCFC essentially caused the deaths of hundreds of people as they couldn't afford to carry out emergency operations due to money owed by the Swans! .......................You are aren't you!

It's not a business though Bazz is it, and it didn't go bust? Oh hang on, your going to go down the road that SCFC essentially caused the deaths of hundreds of people as they couldn't afford to carry out emergency operations due to money owed by the Swans! .......................You are aren't you!

This is one of the prime examples of someone who would have benefitted massively by our continued existence. No idea why they voted against the CVA, I can only assume they recieved bad advice. They hold regular (or did when I was in the country) meetings at the Liberty with free use of conference rooms

It's not a business though Bazz is it, and it didn't go bust? Oh hang on, your going to go down the road that SCFC essentially caused the deaths of hundreds of people as they couldn't afford to carry out emergency operations due to money owed by the Swans! .......................You are aren't you!

This is one of the prime examples of someone who would have benefitted massively by our continued existence. No idea why they voted against the CVA, I can only assume they recieved bad advice. They hold regular (or did when I was in the country) meetings at the Liberty with free use of conference rooms

I work for the NHS and I can cornfirm that is still the case.

Where are the 7 that voted against it then?

Don't be silly... The welsh NHS Ambulance Trust aren't local of course!

It's not a business though Bazz is it, and it didn't go bust? Oh hang on, your going to go down the road that SCFC essentially caused the deaths of hundreds of people as they couldn't afford to carry out emergency operations due to money owed by the Swans! .......................You are aren't you!

Murdering bar stewards!

i blame mel nurse
does he still have his hotels?

bottom line is, who cares. we are in the mire on and off the pitch lets focus on that

Gets posted all the time here and lots of on topic discussions get side tracked by it, so here it is in one thread where we can refer back or link to when it gets brought up.

Here is the total list of companies owed - can anyone find one that ceased trading as a result?

Here is one for you to consider:

Neath Port Talbot council were never paid and was written off, so in effect "I have been robbed". And on another note, Swansea council still owe £3.2m to neath port Talbot council as a loan for building the council house, hence, there will be no extension until this is re-paid. Just saying like!!!

You've posted this before and as I have said previously, it is utter nonsense.

As shown by the fact it does not appear in any set of Swans accounts, ever.

And thirdly, even if possible, why on earth would Neath Port Talbot council be involved in something like this outside of its borders
That and the fact this type of loan from a local authority to a private company is illegal.

Gets posted all the time here and lots of on topic discussions get side tracked by it, so here it is in one thread where we can refer back or link to when it gets brought up.

Here is the total list of companies owed - can anyone find one that ceased trading as a result?

D Coaches = Diamond Coaches ???

No carl i think it is Daves Coaches