One of the 'facts' coming out of the CVA documentation is that 'Associated Creditors' are owed £468,869.72.
All the entries under the Associated Creditors appear to be either majority shareholder Tommy Agombar and his companies.
The full list is:
Atherlson Limited £79,815.00
Scrooby Ltd £262,570.00
Thomas James Agombar Snr £126,484.72
It appears that having spent this money Agombar stands get it back if the CVA is agreed.
Meanwhile the directors note in the CVA documentaion that an 'allegation has been made that the large share issue made in 2013 was invalid since the correct procedure may not have been followed.'
'If it was not valid, the potential additional debt would be such that a CVA within the rules of the League would be impossible.'
'If it was not valid, the potential additional debt would be such that a CVA within the rules of the League would be impossible.'
BN also understands that some shareholders are considering whether the articles of association of the club should have been updated before the share issue was passed.