Creditors List Revealed

Tuesday, 12 March 2002, 0:00
2 mins read

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The biggest single creditor is, as we know Mel Nurse, who is owed on the list £701,097 with the Inland Revenue in second place with £349,271 owing to them. John Hollins is claiming compensation from the club of £250,000 although the possible offer from the club is £80,000 with a 5p in the £1 arrangement possibly coming on that.
Mike Lewis, the man we all love to hate, is offered a massive £1 in return for his £1 investment on the club (or is that 5p we are offering him?) with former staff members including Martin Burgess and Colin Addison also listed amongst the creditors of the club.
Questions will be asked about some of the companies that are owed money and we can, at the moment, see no logic in why the football club should owe the likes of Swansea Sound and Real Radio money or indeed Neath Port Talbot Borough Council or Rhondda Cynon Taff Borough Council. Could someone explain that.
The Football League Pension scheme is owed a total of £27,379 but of course, if you believe Mike Lewis and Tony Petty these were debts all run up by the new owners. The majority of debts here are debts inherited by the new owners and revealed after two months of trying to make sense of the books which I can now imagine were in a complete state of disarray with all this money owing left right and centre.
The question has to be asked on how anyone could have let the club get into this state in the first place and how those same people have the balls to come out in the public and even via the internet and state that it wasn’t their fault and point fingers of accusation at the people now in charge.
We now have to hope that the majority of the creditors take the offer on the table which for some will mean substantially reduced sources of income. We have assumed that all creditors (bar the revenue and customs and excise) will be offered 5p in the £ although we do take a stab that the pension payments etc will need to be made in full.
Someone somewhere has questions to answer and to start with I would look towards Brisbane, Gorseinon and London for the first questions to be fired.

You Can View The Full List Of Creditors Here

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