Friday 8 April 2011

ON TARGET FOR ADMINISTRATION EXIT


Bryan Jackson.
 Dundee FC are on target to move out of administration by the end of the season according to joint admnistrator Bryan Jackson. Speaking to http://www.thedees.co.uk/, he said:

"“Although it may have appeared that the administration was at an end when the period for appealing the CVA was over there have, in fact, been a number of key issues which have had to be dealt with over the last few weeks.”
“Dundee FC Supporters Society (DFCSS) and I have been liaising with John Bennett, over the waiver of his share options to enable the supporters trust to acquire these shares and we are grateful to John for agreeing to do this.  Until the share options issue was resolved I was unable to access the funds raised by the supporter’s trust to start paying dividends to creditors but I can confirm that all of these stages are now nearing completion.”
 “In addition there have been a number of compliance and legal technicalities as well as the settlement of tribunal claims. I appreciate that there is a degree of urgency among the fans that the administration should end quickly but the process is complex and time consuming and I have been working with the DFCSS to ensure that we complete this work as quickly as possible . However, I believe that a realistic time scale for ending the administration is the end of the season. Whilst I, and the DFCSS, would prefer it be resolved sooner, I don’t realistically believe that all of the issues will be resolved before then. I would ask for patience and understanding that this cannot happen immediately but we are working hard to conclude all outstanding business as soon as possible.”

Source: http://www.thedees.co.uk/

photo (c) http://www.thedees.co.uk/

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