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Crystal Palace Creditors

MrOneLung
MrOneLung Posts: 26,902
in Not Sports Related
I am trying to find a list of creditors that Palace owed when they went into adminstration - famously included St Johns Ambulance - a general google search has not found a list.

Any ideas ?

Comments

  • Henry Irving
    Henry Irving Posts: 85,286
    is this is response to the sign one of their fans was holding up at Anfield? Beyond Parody.
  • cafcdave123
    cafcdave123 Posts: 11,491
    Henry Irving said:

    is this is response to the sign one of their fans was holding up at Anfield? Beyond Parody.

    ?

    I must have missed that.
  • MrLargo
    MrLargo Posts: 7,993
    This was the administrator for Palace in 2010, might be worth speaking to them - http://www.thepandagroup.co.uk/
  • Big_Bad_World
    Big_Bad_World Posts: 5,859
    Hope this helps, although I've yet to find the actual list of creditors:

    "The effects of the provisions enabling priority to be given to football creditors in insolvencies have been striking. Two examples illustrate this. Crystal Palace FC went into administration on 26 January 2010, HMRC having presented a winding up petition on 2 December 2009. Total unsecured liabilities were approximately £27 million of which debts to football creditors amounted to about £1,925,000. A total of £2,415,552 was paid to unsecured creditors. The football creditors were paid in full and the other creditors received a dividend of less than 2p in the pound."
  • Big_Bad_World
    Big_Bad_World Posts: 5,859
    There is a 236 page creditors report online:

    http://195.171.95.190/portal/ice/finalReports/30420101546131.pdf
  • TelMc32
    TelMc32 Posts: 9,066
    They went with £32m owing, the vast majority of that (£20m) being to the Orange Fella.

    Agilo (hedge fund who triggered the admin) - £4.5m
    HMRC - £2m
    Trade Creditors - £4m
    Football Creditors (who get first call) - £1.5m


    Warning: there is a picture of the Orange one in this link!!!

    http://www.theguardian.com/football/2010/jan/28/simon-jordan-crystal-palace-rescue-plan


    This is the p and a report and the company creditors are listed from p.78 (including £200k owed to us).

    http://195.171.95.190/portal/ice/finalReports/10620101156531.pdf

  • Big_Bad_World
    Big_Bad_World Posts: 5,859
    Page 30 for companies, page 78 for season ticket holders.
  • RedPanda
    RedPanda Posts: 4,995
    So does that mean we never got our 200k, or at least only a small percentage of it?
  • Friend Or Defoe
    Friend Or Defoe Posts: 18,122
    Henry Irving said:

    is this is response to the sign one of their fans was holding up at Anfield? Beyond Parody.

    Is there a photo of this sign? If not, what did it say?

  • TelMc32
    TelMc32 Posts: 9,066
    RedPanda said:

    So does that mean we never got our 200k, or at least only a small percentage of it?

    Not sure how it all panned out, but one of those reports suggests that the final return to Creditors was 1.92p in the £!

    That would have seen us pick up £3,840!!

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  • Henry Irving
    Henry Irving Posts: 85,286
    Friend Or Defoe said:

    Henry Irving said:

    is this is response to the sign one of their fans was holding up at Anfield? Beyond Parody.

    Is there a photo of this sign? If not, what did it say?

    Can't find it but it wasa hard written sign which said something like

    "No US Tycoon or rich Arab. All done on our own resources"

    Which is true if you don't count the two admins
  • Pedro45
    Pedro45 Posts: 5,838
    TelMc32 said:

    RedPanda said:

    So does that mean we never got our 200k, or at least only a small percentage of it?

    Not sure how it all panned out, but one of those reports suggests that the final return to Creditors was 1.92p in the £!

    That would have seen us pick up £3,840!!
    But surely we were a football creditor, therefore paid in full?
  • MrOneLung
    MrOneLung Posts: 26,902
    cheers, most informative.
  • TelMc32
    TelMc32 Posts: 9,066
    Pedro45 said:

    TelMc32 said:

    RedPanda said:

    So does that mean we never got our 200k, or at least only a small percentage of it?

    Not sure how it all panned out, but one of those reports suggests that the final return to Creditors was 1.92p in the £!

    That would have seen us pick up £3,840!!
    But surely we were a football creditor, therefore paid in full?
    Not sure @Pedro45 as this was a CVA in the end and not a full liquidation.
  • stonemuse
    stonemuse Posts: 34,064
    Henry Irving said:

    Friend Or Defoe said:

    Henry Irving said:

    is this is response to the sign one of their fans was holding up at Anfield? Beyond Parody.

    Is there a photo of this sign? If not, what did it say?

    Can't find it but it wasa hard written sign which said something like

    "No US Tycoon or rich Arab. All done on our own resources"

    Which is true if you don't count the two admins
    Beyond parody indeed
  • sm
    sm Posts: 2,960
    We pay our bills, we pay our bills, we're Charlton Athletic we pay our bills!
  • NorthStandUltra
    NorthStandUltra Posts: 2,540
    sm said:

    We pay our bills, we pay our bills, we're Charlton Athletic we pay our bills!

    Now that we aren't owned by Slater & Jiminez

  • Pedro45
    Pedro45 Posts: 5,838
    TelMc32 said:

    Pedro45 said:

    TelMc32 said:

    RedPanda said:

    So does that mean we never got our 200k, or at least only a small percentage of it?

    Not sure how it all panned out, but one of those reports suggests that the final return to Creditors was 1.92p in the £!

    That would have seen us pick up £3,840!!
    But surely we were a football creditor, therefore paid in full?
    Not sure @Pedro45 as this was a CVA in the end and not a full liquidation.
    The quote here is from Big Bad World -

    "The effects of the provisions enabling priority to be given to football creditors in insolvencies have been striking. Two examples illustrate this. Crystal Palace FC went into administration on 26 January 2010, HMRC having presented a winding up petition on 2 December 2009. Total unsecured liabilities were approximately £27 million of which debts to football creditors amounted to about £1,925,000. A total of £2,415,552 was paid to unsecured creditors. The football creditors were paid in full and the other creditors received a dividend of less than 2p in the pound."

    This suggests strongly that, as a football creditor, we got paid in full.
  • TelMc32
    TelMc32 Posts: 9,066
    Pedro45 said:

    TelMc32 said:

    Pedro45 said:

    TelMc32 said:

    RedPanda said:

    So does that mean we never got our 200k, or at least only a small percentage of it?

    Not sure how it all panned out, but one of those reports suggests that the final return to Creditors was 1.92p in the £!

    That would have seen us pick up £3,840!!
    But surely we were a football creditor, therefore paid in full?
    Not sure @Pedro45 as this was a CVA in the end and not a full liquidation.
    The quote here is from Big Bad World -

    "The effects of the provisions enabling priority to be given to football creditors in insolvencies have been striking. Two examples illustrate this. Crystal Palace FC went into administration on 26 January 2010, HMRC having presented a winding up petition on 2 December 2009. Total unsecured liabilities were approximately £27 million of which debts to football creditors amounted to about £1,925,000. A total of £2,415,552 was paid to unsecured creditors. The football creditors were paid in full and the other creditors received a dividend of less than 2p in the pound."

    This suggests strongly that, as a football creditor, we got paid in full.
    Right. I know HMRC have fought several times to have that preferred status for football creditors removed. So far, without success.

    Have to say that if I were involved in providing services to a football club, I would be doing do on a cash in advance or on delivery basis, unless you're dealing with perhaps the top half of the Prem.
  • Addickted
    Addickted Posts: 19,456
    Hmmmmm, Still hurts.

    To be fair Palace fans paid off all debts to SJA. Just a shame so many small companies and their sub contractors got stuffed.

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  • Athletico Charlton
    Athletico Charlton Posts: 14,297
    Henry Irving said:

    Friend Or Defoe said:

    Henry Irving said:

    is this is response to the sign one of their fans was holding up at Anfield? Beyond Parody.

    Is there a photo of this sign? If not, what did it say?

    Can't find it but it wasa hard written sign which said something like

    "No US Tycoon or rich Arab. All done on our own resources"

    Which is true if you don't count the two admins
    Hadn't seen that. Hope that josh Harris buys them and takes them down. Think I would get a special hand written sign made up for when we played them then!
  • LargeAddick
    LargeAddick Posts: 32,639
    RedPanda said:

    So does that mean we never got our 200k, or at least only a small percentage of it?

    Football creditors are paid in full.
  • Addickted
    Addickted Posts: 19,456
    LargeAddick said:

    RedPanda said:

    So does that mean we never got our 200k, or at least only a small percentage of it?

    Football creditors are paid in full.
    Pretty sure there was an Austrian Club claiming they were owed some transfer/loan signing fee which Gillfoyle hadn't released to them.

  • guinnessaddick
    guinnessaddick Posts: 28,742
    Addickted said:

    LargeAddick said:

    RedPanda said:

    So does that mean we never got our 200k, or at least only a small percentage of it?

    Football creditors are paid in full.
    Pretty sure there was an Austrian Club claiming they were owed some transfer/loan signing fee which Gillfoyle hadn't released to them.

    Think it only applies to the old boys network in this country.
  • TelMc32
    TelMc32 Posts: 9,066
    Addickted said:

    LargeAddick said:

    RedPanda said:

    So does that mean we never got our 200k, or at least only a small percentage of it?

    Football creditors are paid in full.
    Pretty sure there was an Austrian Club claiming they were owed some transfer/loan signing fee which Gillfoyle hadn't released to them.

    Austria Vienna - £62,400 owed for Jonathan Ertl. They also owed £238,353 to Benfica.

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