riggins74 Posted November 5, 2012 Report Share Posted November 5, 2012 Not sure iif anyone else heard the news on Radio Cornwall this morning with the adminstrator's claiming the debts being in excess of £3.91m, certainly not the figure i was hearing. What impact this has im not so sure, but hoping the club can keep moving forward and securing a brighter future. Link to comment Share on other sites More sharing options...
cornishteddyboy Posted November 5, 2012 Report Share Posted November 5, 2012 Does this mean with a debt as high as £3.91M the money from the sale of the ground didn't go to Mr Heaney and the club still owe him that £1.7M loan or did he get paid and the club owe that figure after that transaction? Link to comment Share on other sites More sharing options...
riggins74 Posted November 5, 2012 Author Report Share Posted November 5, 2012 Here is the link BBC © http://www.bbc.co.uk/sport/0/football/20203414 Truro City could owe creditors as much as £4m, according to a report compiled by the club's administrator. The report also states an agreement to sell the club's Treyew Road ground is currently "under investigation". Truro City are currently searching for new owners after entereing administration earlier this year. Local businessmen Peter Masters and Philip Perryman are preferred bidders, after putting up a £50,000 bond to allow the club to continue to play. The report has been written by the club's administrator Kate Breeze and has been submitted to the High Court of Justice Chancery Division. Truro went into administration after owner Kevin Heaney went bankrupt in August and left the club to fight a debt claim of £700,000. Under the ownership of Heaney, Truro gained five promotions in six years to go from local league football to two divisions below the Football League and also won the 2007 FA Vase. According to the report the club owes creditors a total of £3,901,352, with two creditors owed £1m each. Irish firm BCK is owed £1.5 million while director Yulia Sincock is owed £1,006,180. Tiger Commercial, which was a company set up to run the club's commercial affairs, has a claim for £645,000 while former chairman Kevin Heaney's firm Cornwall Properties Limited is owed £355,000. Link to comment Share on other sites More sharing options...
falfootie Posted November 5, 2012 Report Share Posted November 5, 2012 It defies logic that the club can owe Heaney's girlfriend £1m - how the hell could that happen? I assume the BCK referred to (first time I've heard of them), relates to BCK 'wealth ,management' of Ireland and what is the £1.5m owed to them for? At least the sale of the ground is 'under investigation'. Link to comment Share on other sites More sharing options...
Goldeneye Posted November 5, 2012 Report Share Posted November 5, 2012 "The report also states an agreement to sell the club's Treyew Road ground is currently "under investigation". The above is the most interesting bit of the statement. An 'agreement to sell' indicates to me that the sale has not been finalised. Perhaps the terms of the covenant have not been met yet. Link to comment Share on other sites More sharing options...
Dave Deacon Posted November 5, 2012 Report Share Posted November 5, 2012 "The report also states an agreement to sell the club's Treyew Road ground is currently "under investigation". The above is the most interesting bit of the statement. An 'agreement to sell' indicates to me that the sale has not been finalised. Perhaps the terms of the covenant have not been met yet. I think it means that they're looking at the various "sales" that have gone through. That is, they are looking at whether any solicitors involved can be accused of "negligence". :ninja: Link to comment Share on other sites More sharing options...
kempy Posted November 5, 2012 Report Share Posted November 5, 2012 If Truro City were having a bonfire tonight i bet i know who the supporters would want on top of it !!! :ninja: Link to comment Share on other sites More sharing options...
TheolderIgetthebetterIwas Posted November 5, 2012 Report Share Posted November 5, 2012 Not sure iif anyone else heard the news on Radio Cornwall this morning with the adminstrator's claiming the debts being in excess of £3.91m, certainly not the figure i was hearing. What impact this has im not so sure, but hoping the club can keep moving forward and securing a brighter future. BLOODY HELL!!!!!!!!!! THATS TROUBLE for sure. Link to comment Share on other sites More sharing options...
somersetspur Posted November 5, 2012 Report Share Posted November 5, 2012 This just goes to show what a shambles,this countries legal system is. How on earth can one person cause so much financial strife. It beggars belief what these crooks can get away with. Link to comment Share on other sites More sharing options...
kempy Posted November 5, 2012 Report Share Posted November 5, 2012 I am not a Truro city supporter but am a Cornish footy fan , did not anyone who was involved with the regime question what was going on ? All clubs have to submit accounts at the end of every season to the football gods !!!! Link to comment Share on other sites More sharing options...
Nemesis Posted November 5, 2012 Report Share Posted November 5, 2012 The amount of almost £4m does not include the amounts robbed from local businesses, when Heaney had work done on the ground and then 'bust' his business thus absolving himself and the club from paying up. If that did not set the alarm bells ringing, then those who chose to ignore it, have no right to demand support from the footballing community of Cornwall. For too long, City fans have played the part of the Three Monkeys, see no evil, hear no evil, speak no evil. They were more concerned that the glory days must continue and sod everyone else. They can't say they were not warned, they just didn't want to hear it. The club are now playing the role of the injured party, if they are honest, they are in a false position in BSQ Sth, the rise was paid for with money that did not belong to them or Heaney. If the £4m is true, the ground is a huge chunk of it, probably the £1.5m to Heaneys pals in Dublin (the same ones that had a Gibraltar office when involved with PAFC ?) £1m to the Russian Bride ?, I'm surprised she only wants that small amount to be involved with the Ginger one. As the majority is unsecured debt, it should be easy to walk away, go bust and start City of Truro FC perhaps at Combo or SWPL West level, if they can find a ground to share. I'm sure the Supporters Trust will now know a lot more than they did last week, it will be an interesting meeting this week ! Link to comment Share on other sites More sharing options...
Mr.T Posted November 5, 2012 Report Share Posted November 5, 2012 I am not a Truro city supporter but an a Cornish footy fan , did not anyone who was involved with the regime question what was going on ? All clubs have to submit accounts at the end of every season to the football gods !!!! Don't always agree with Kempy but i believe he must be right,Heaneys best mate must have known something was going on.As i said before ban them from any form of football for life. :ph34r: Link to comment Share on other sites More sharing options...
cornishman64 Posted November 5, 2012 Report Share Posted November 5, 2012 if the little ginger s##t borrowed the this much money against truro he never spent any money on the club the only thing wots change is the stands so i would say he used it 4 something else 2 keep his other halfs in the good life if the ground was sold b4 he went bankrupt the money should being used 2 pay off wot he owes so wer did that money go 2 may be the 4 million was 2 buy pafc who nows Link to comment Share on other sites More sharing options...
hammers Posted November 8, 2012 Report Share Posted November 8, 2012 I am very puzzled reading todays West Briton Page 4 Quote " despite the alleged dept, negotiations are continuing regarding the sale of the club to the three Truro businessmen who rescued it from being thrown out of the football conference-L2nightclub owners Pete &Jason masters, and Philip Perryman, boss of Taxi firm A2B," end of quote. Are they intending to buy back the ground the club&buildings, & pay of the reported Debt of nearly 4 Million ? because if not there is no club to buy, the ground & I assume the buildings were sold for a reported sum of £2. 28 million, Should they not tell the City supporters if this is what they are negotiating for the above mentioned. Hammers :c: Link to comment Share on other sites More sharing options...
MOUNTAINEER Posted November 8, 2012 Report Share Posted November 8, 2012 Should they not tell the City supporters if this is what they are negotiating for the above mentioned. Hammers NO Negotiations are not the easiest of things to deal with, some matters could be of a delicate nature, others requiring investigation, you don't weaken your position by revealing all. The time to open up is when you have something to open up about. Most of the clubs critics appear to pop up from outside the club. Link to comment Share on other sites More sharing options...
hammers Posted November 9, 2012 Report Share Posted November 9, 2012 Mountaineer, Fair Comment, Hammers. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now