Chester City again....

Myles Francis · Post by **Myles Francis** » Tue Jan 05, 2010 9:27 am

The latest rumblings suggest that Chester have now released all of their players and will be represented by kids from Morrell Maison's academy.

Boogie · Post by **Boogie** » Tue Jan 05, 2010 12:38 pm

Hope he understands the registration system.

Boogie · Post by **Boogie** » Thu Jan 07, 2010 12:18 am

Can anyone see Chester completing the season now?

We are still due to play them away but beat them at home at the start of the season 4-0.

Stevenage, however have already beaten them twice and York, like us, beat them at home but are still due to play them away.

OUFC_Gav · Post by **OUFC_Gav** » Thu Jan 07, 2010 12:22 am

&quotBoogie&quot wrote:Hope he understands the registration system.

When he was interviewed on the Non-League Show on Monday it was clear he was unaware that the club was under a transfer embargo when he tried to sign two Mansfield players on loan earlier that day (without Jim Harvey knowing about it).

Dartford Ox · Post by **Dartford Ox** » Sat Jan 16, 2010 11:11 am

A winding up order was issued by HMRC on Thursday - see page 315 of the link.

http://www.london-gazette.co.uk/issues/ ... 2010-01-14

If HMRC win then surely Chester will go the way of Kings Lynn.

A possible 6 pts less for Stevenage.

??

Boogie · Post by **Boogie** » Sat Jan 16, 2010 1:01 pm

http&#58//www&#46devachat&#46com/index& ... opic=60830

If you want to follow the soap opera from the poor Deva fans viewpoint.

It would be a 3 point swing to us v Stevenage BTW if they go before we play them again.

boris · Post by **boris** » Tue Jan 26, 2010 11:25 am

The saga continues.

Apparently yesterday Vaughan dropped his asking price for Chester from £4.2 million to £1. Obviously anyone buying the club would have to pay HMRC and all other creditors, with the winding-up hearing tomorrow it may just be too late, although a local businessman has posted on DevaChat that he's putting in an offer.

Dartford Ox · Post by **Dartford Ox** » Tue Jan 26, 2010 11:51 am

&quotboris&quot wrote:The saga continues.

Apparently yesterday Vaughan dropped his asking price for Chester from £4.2 million to £1. Obviously anyone buying the club would have to pay HMRC and all other creditors, with the winding-up hearing tomorrow it may just be too late, although a local businessman has posted on DevaChat that he's putting in an offer.

And therein lies the nub of the matter. From what I have read elsewhere one of the creditors is a company owned by Vaughan himself - to the tune of several million.

Its his way of getting his money back - plus quite a bit more.

Myles Francis · Post by **Myles Francis** » Tue Jan 26, 2010 12:56 pm

&quotDartford Ox&quot wrote:
&quotboris&quot wrote:The saga continues.

Apparently yesterday Vaughan dropped his asking price for Chester from £4.2 million to £1. Obviously anyone buying the club would have to pay HMRC and all other creditors, with the winding-up hearing tomorrow it may just be too late, although a local businessman has posted on DevaChat that he's putting in an offer.
And therein lies the nub of the matter. From what I have read elsewhere one of the creditors is a company owned by Vaughan himself - to the tune of several million.

Its his way of getting his money back - plus quite a bit more.

The courts threw out Chester's CVA because Vaughan couldn't substantiate the amounts said to be owed to his company. I honestly think it would be foolish for anyone to take the club over from Vaughan - the potential for skeletons in the closet is immense.

Radley Rambler · Post by **Radley Rambler** » Tue Jan 26, 2010 1:15 pm

Blimey - whatever you think of Uncle Firoz, it pales into insignificance when compared to this debarcle.

I had a nice weekend planned in the Chester area, shan't be booking too much just yet.......

boris · Post by **boris** » Tue Jan 26, 2010 2:48 pm

&quotboris&quot wrote:a local businessman has posted on DevaChat that he's putting in an offer.

Apparently that offer has now been withdrawn.

Myles Francis · Post by **Myles Francis** » Wed Jan 27, 2010 10:27 am

Big day for Chester today, with the majority of their fans hoping HMRC are successful and get the club wound up.

Also on the hearing list today are:

Crystal Palace FC
Hinkley United FC
Burscough FC
Wakefield Trinity RLFC
Keighley Cougars RLFC

I have heard that Palace have been placed into administration by their main creditor and it is a far from a friendly move.

boris · Post by **boris** » Wed Jan 27, 2010 1:26 pm

Case adjourned for 42 days until 10 March. Their official site claims that they're seeking a CVA and all that they owe is ┬ú26,125 to HMRC and ┬ú20,000 to other creditors. Sounds like a load of bollocks to me, but without access to their accounts who am I to question Mr Vaughan?

Myles Francis · Post by **Myles Francis** » Wed Jan 27, 2010 5:05 pm

Consideing they were budgeting for a ┬ú600k loss for this season it's odd that they now only owe ┬ú46k. And would they honestly need a CVA for such a (relatively) paltry amount?

boris · Post by **boris** » Wed Jan 27, 2010 5:14 pm

&quotMyles Francis&quot wrote:Consideing they were budgeting for a £600k loss for this season it's odd that they now only owe £46k. And would they honestly need a CVA for such a (relatively) paltry amount?

It also doesn't accord with figures quoted in this article:

Earlier this month Stephen Vaughan Senior told The Chronicle: &quotThe club owes £138,000. That includes November and December’s wages, that includes HM Revenue, Customs and Excise, that includes all footballing and non-footballing creditors.&quot

Rage Online

Chester City again....

Chester City again....

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