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4pm: Time Up For Leeds Objections

The much publicised CVA proposal made by former Leeds United Chairman Ken Bates will be accepted today provided that no objections are made to the administrators by 4pm.

Following the (just about) successful vote, there has been a statutory period of 28 days for creditors to lodge any appeal, something which prompted action regarding the 1p in the 1 deal offered by a consortium lead by Bates.

The threat of a challenge then forced the former Chelsea man to up his offer to 8p in the 1 following the threat of Government level intervention for the money owed to the Inland Revenue.

Uncle Ken went on Yorkshire Radio to explain what has happened recently, and the implications of any appeal and subsequent rejection of the proposal that would ultimately see the end of Leeds United F.C.

'The Revenue spoke to the administrator on Friday and asked about the situation,' he said. 'And the administrator agreed to look at the situation.

'We then had a meeting on Saturday with Shaun Harvey, the administrator and their lawyers. After a lot of discussions we agreed we would increase the offer by another 1m.'

The end of Leeds United? I would certainly hope not, Vital Leeds United will bring you the news post-4pm just as soon as we can get it.



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The Journalist

Writer: LUFC1 Mail feedback, articles or suggestions

Date:Tuesday July 3 2007

Time: 10:51AM

Your Comments

Mwahahahaha a rejection would be way too funny!
murph
Would love to find some non-leeds supporters that don't actually hate us. Nervous time for the club and supporters, lets bloody hope that those complaining (including the balloon company that will now receieve 8 times more money..) keep their traps shut and let us get on with the football.
LUFC1
agree lufc1
Super-Leeds
8 times more money, but still 92 times less than they're owed (in the initial scheme of things, just over 10 times less on the second offer. Of course, academic now the IR have said OI but you can hardly blame them can you?
Wellers
Non Leeds fans who dont hate us!!! thats very funny you either love em or hate em.
dazza71
 

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