Major Halifax Town creditor threatens to reject CVA proposal
A major creditor of Halifax Town threatened to reject a 2.5p in the £ offer being put by administrators today.
Roy Barnett is owed nearly 200,000 from a previous company voluntary arrangement in 2003.
His company R M Barnett Ltd of Huddersfield was contracted to build the half finished east stand at the Shay.
Mr Barnett said he agreed to the previous CVA on the condition his company received shares.
But they never materialised.
"Had we got the shares we could have sold them to the consortium wanting to take the club," he said.
"We would have got more money back. My inclination is to vote 'no'.
"We have had one fiasco with the CVA and a lot of empty promises.
"5,000 is not enough to make me accept."
Mr Barnet said unless administrators were able to persuade him and others to accept a deal at today's creditors meeting the proposal would fail.
About 20 creditors attended at the Weavers, Shay Syke, Halifax, this morning.
The meeting is now under way.
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Saturday 11 February 2012
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