Bryn Consortium Take-Over

[Owlgull]

The 6 officers includes the person who has resigned. She was presumably the person who registered the name months ago. So only 5 people officially involved.

Yes, you are correct. On ticking the filter box to show only the “current” officers, it just lists the 5 names we are already aware of. Think CP Gull May well be right about Lovell being the 6th member.

[MancGull]

Hope it’s not bronsons fake son, George Bamby. He was shouting out about putting money in to save the club, he’s dodgier than a box of frogs

[RedGull1902]

Who really cares!! The club is hopefully safe, just chill ffs!

[UnitedinDevon]

Do one of the Bryn group have a link to the Lovells? (did have Lovell sport now VX3 based in Paignton)

I saw on twitter last night a post from the chap who made the video of Wotton/Warnock on Princess Pier

Joe Lovell replied thanking him for doing it "short notice" which indicates some involvement

wouldn't be a surprise if we have VX3 making our kits now, they make a fair few for local teams but also for Newport County (and if you look at their website they have a certain model on the home page.. - https://vx-3.com/

[Gloomy Gull]

I believe that the final piece of the take over puzzle is ratification by Creditors of a CVA - I presume the CVA will be in the name of Bryn Consortium (or whatever trading name they adopt). I have a couple of questions about that:

1. Does anyone know what date the Creditor's meeting is to be held? I guess it hasn't happened yet as there has been no confirmation on the website? Because until that is confirmed we remain in limbo regarding player acquisitions.

2. On the assumption that the CVA will be entered into by the consortium and not the original company that went into Admin, could that of change owner trigger another points deduction under the Leagues Insolvency rules. That would be harsh I know but in effect it is 2 separate legal entities entering into 2 separate, but adjoining, insolvency procedures?

[wbw]

Previous examples of clubs going into administration and moving forward under a CVA suggest that another points deduction will not apply. To the best of my knowledge, no other club has suffered an additional penalty.

[bobbytanz1963]

To answer

1. 31/05/24
2. CVA is the exit route of the company which was placed into Administration and will adhere to National League rules in that if accepted it deals with creditors claims

No points deductions apply.

[Gloomy Gull]

Thanks WBW and Bobby - that's clearer (and a relief!)

[ShropGull]

https://torquayunited.com/update-from-t ... onsortium/