There seems to be a lot of confusion on the SWFC zero point ruling when comparing to the zero points Derby also received.
Both Clubs paid/are paying 25p in the £ to unsecured creditors.
Derby’s owner completely wrote his debt off. The Wednesday owner was made a sizeable offer.
Derby paid 25p in the £ and left the tax man owed £10’s of millions (EFL Insolvency Policy directs 100p - discretion shown). Wednesday are paying off all owed (100p in the £) to HMRC.
I’m struggling to square why some feel Wednesday should get more than Derby got for exiting Administration when the shortfall to creditors is so much less in the case of SWFC?
Furthermore, the shortfall against EFL Insolvency Policy is also much less in the case of SWFC.
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A statement has been released by David Storch, preferred bidder at Sheffield Wednesday #SWFC
Key points:
They have been informed that a 15-point penalty is set to be imposed at the start of next season, despite submissions to the EFL making a case against it.
Dejphon Chansiri has not agreed to write down or
restructure the debt he is owed and repeated attempts to engage him, "have gone unanswered."
"The full scale of the serious infrastructure
challenges (at Sheff Wed) has become apparent."
Club described as "in distress" in current form -- but Storch insists, "it remains our absolute intention to complete this transaction by 1 May."
Storch says they have committed to immediately address the serious infrastructure issues, "on the basis that the EFL agree to a reasonable approach to the intended 15 point penalty to be applied next season."
Calls on fans to make their voices heard.
🗣️ "I'm very sincere when I say the fans own this club. We will be the custodians and partners to the fans as we look to bring hope back"
David Storch speaking exclusively to @BBCSheffield about his plans for Sheffield Wednesday #SWFC
Full interview 👉 https://t.co/khYvSSmzyu