Trust Q&A with B Guilfoyle report, and fans opportunity for Q&A with the Administrator
posted by Chris Waters on Tuesday 11th of May 2010 10:21:37 AM
The Trust has been in contact with Brendan Guildfoyle as there have been a lot of questions raised about what happens now the season had ended. He kindly agreed to answer by email (as far as he is able) various questions about what may happen next. We have set out our questions and his answers in full below.
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Additionally Brendan has agreed to the Trust's request to hold a question and answer session with fans. The time will be 2.30pm next Tuesday 18th May and the session will last 2 hours. We are liaising with the Club and the Administors as to where that will be and the exact format, but as it is during the day we wanted to give people as much notice as possible of the date. We will put this on the various Palace messageboards and publicise it through local radio and the press and ask fans spread the word to anyone who they think might be interested. Admission is free to all but we would ask people to make a donation to the Trust to help with our costs of preparing the Loan Note Agreement scheme and other administrative costs.
The Trust has also been contacted by various fans with questions about the Creditors Meeting on 17th May and it seems that there is a certain amount of confusion about what will happen at the meeting. Some of the common questions have been answered by Brendan above but people should also be aware of the following:-
1. The Consortium 2010 have not called the meeting. It is a standard meeting that all companies in administration have to have
2. The meeting is an administrative matter and it is not going to be a venue for creditors to raise questions about how and why the Club has ended up where it is or to raise specific questions about the clubs future
3. Simon Jordan may or may not turn up (probably not) and he will not be answering questions. The Consortium will not be identified at the meeting
4. There may be a considerable amount of legal discussion as to the ins and outs of the position and there will be a vote on the resolutions that were set out in the proposals.
5. There will not be a vote on anything else
6. Individual creditors will not lose out by not attending the meeting. Although it is open to creditors they will not lose their claim if they do not attend
7. It is important that if a creditors details are wrongly set out in the paperwork that they should contact the Administrators and ensure they have the correct details but they do not need to attend the meeting to do that
8. The venue is fairly small, if too many people turn up then there is a chance it will have to be adjourned to a later date, as if not everyone can fit in the hall then the meeting cannot legally proceed
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