CVA Weeks Away - Ipswich Town News
Town chief executive Derek Bowden says that the club and Deloitte and Touche are still weeks away from completing a Company Voluntary Agreement (CVA) to put to creditors.
Bowden says that the CVA will be based on a number of plans based on several scenarios. He says that the CVA is going well but taking time: "We have been working as speedily as possible and talks have been positive and constructive.
"But there are a large number of parties involved and talks have ebbed and flowed. We are still some way off agreement and it will be a matter of weeks rather than days before everything is concluded."
Once complete the CVA will be put to creditors. To be accepted it requires the votes of 75% of the creditors by value.
What to read next:
McKenna: We'll Review Our Process Around ShootoutsBoss Kieran McKenna says Town’s process around penalty shootouts will be reviewed, the Blues having exited three cup competitions on spot-kicks over the last year, this evening’s Carabao Cup first-round loss at League Two Bromley the latest.
Bromley 1-1 Ipswich Town (5-4 on Pens) - Match ReportGeorge Hirst and Ali Al-Hamadi both missed penalties as the Blues were beaten 5-4 in a shootout by Bromley following a 1-1 draw at Hayes Lane in round one of the Carabao Cup. Deji Elerewe gave the home side the lead just before half-time, however, sub Ben Johnson levelled for the Blues eight minutes after the restart but unconvincing Town were unable to find a winner and the League Two side claimed their first ever win in the competition on penalties.
Eight Changes For Blues at BromleyTown have made eight changes for this evening’s Carabao Cup first-round tie at Bromley with Ashley Young making his full Blues debut and Cedric Kipre and Fin Barbrook their debuts, while Omari Hutchinson, Chuba Akpom, Jens Cajuste and Nathan Broadhead are among those absent from the squad.