A rescue plan was released to creditors on Tuesday to be voted on at a meeting on August 2. The administrators are required to reveal any offer that could pay back creditors on better terms. Up to now Courtenay and Mileson have not made an offer in the belief that administrators will not seek powers to sell. David Elliott and David Walker, representing BKR Haines Watts, the insolvency specialists who have been running the club since June 6 say they have met Courtenay and his advisors, but no offer has been forthcoming. Previously, administrators said they would simply "pass on" any bids to majority owner Michael Knighton. Knighton claims he is "95 per cent" of the way towards concluding a deal with a mystery buyer. Administrators' predictions of 3,000 home gates appear to assume a sale of the club will be concluded before the start of the season. However it seems their rescue plan will still be in place even after new owners step in. Courtenay has expressed serious misgivings about the nature of the CVA proposals on offer. A company called the Sterling Consortium, owned by partners in BKR Haines Watts, have a £2 million secured mortgage on the table that would go towards repayment of creditors over the next eight months. Financial and legal experts are being sounded out to see whether the deal on offer represents a conflict of interest. "I am well aware of the situation and am in discussions with Brooks Mileson as to how we can go forward. We have not ruled out any option but the CVA notice only reached me this morning (Thursday) and conists of 101 pages of accountancy and legal information. The figures don't on the face of it stack up and we have got to see how best to deal with that. My advisors are checking it and we have spent most of the day on it," said Courtenay. Knighton claimed to have spent four hours waiting for Courtenay to turn up for a meeting last week. He attacked Courtenay and Mileson yesterday, saying they were "misleading supporters with their shenanigans." CCUIST chairman steps down The Carlisle & Cumbria United Independent Supporters' Trust (CCUIST) have announced the resignation of their chairman Mike Corry. Mr Corry took up the post 12 months ago during the early days of the trust. During his time as chair, they have grown to over 1,000 members and built a share fund that is on target to reach £150,000. Mr Corry indicated he was standing down due to work pressures. The new CCUIST board will now choose a successor. Mr Corry is to remain involved with CCUIST in an advisory role. United win friendly Battered United had a timely boost last night when they won an ill-tempered friendly 3-1 at Raydale Park, Gretna. Full back Lee Maddison grabbed two of the goals but striker Richie Foran missed a penalty for the second game running. Skipper Stuart Whitehead was asked to leave the field after a heated argument with the match officials. First year pro Marc Nixon was Carlisle's other scorer. Picture from News & Star |
