{"id":483679,"date":"2019-07-19T17:06:00","date_gmt":"2019-07-19T21:06:00","guid":{"rendered":"https:\/\/lwosonfootball.ms.lastwordonsports.com\/?p=483679"},"modified":"2019-07-19T17:06:00","modified_gmt":"2019-07-19T21:06:00","slug":"bury-12-point-deduction","status":"publish","type":"post","link":"https:\/\/lastwordonsports.com\/football\/2019\/07\/19\/bury-12-point-deduction\/","title":{"rendered":"Bury Handed 12 Point Deduction After CVA Agreed"},"content":{"rendered":"

League One Bury<\/a> were yesterday handed a 12 point penalty for breaching English Football League insolvency rules. The points deduction will be in effect for the coming season, meaning the Shakers will begin their League One campaign on minus 12 points.<\/p>\n

A Company Voluntary Agreement (CVA) was agreed on Thursday morning. However, a CVA qualifies as an “insolvency event” under EFL<\/a> rules which meant a points deduction. Bury have seven days to appeal.<\/p>\n

Bury Handed 12 Point Deduction<\/h2>\n

The result of the agreement means that the club can clear some of their debts. 25% of the money owed will be paid to unsecured creditors, including HMRC.<\/p>\n

CVA nominee Steven Wiseglass<\/a>, a director at Inquesta Corporate Recovery & Insolvency, said: \u201cThe agreement means the club avoids going into administration or liquidation, and it provides a degree of financial certainty in that its historic debts will be dealt with.\u201d<\/p>\n

Bury Owner: \u201cClub is Safe\u201d<\/h3>\n

Bury owner Steve Dale<\/a> released a statement on the club\u2019s website.<\/p>\n

\u201cToday was a major day for our beloved Club, the old girl is safe. The CVA was passed so our future is secured as I said I would.\u201d<\/p>\n

\u201cWe have worked tirelessly to achieve the result today whilst taking a lot of flak, some might say our methods were questionable but we can all pass comment with hindsight, my job was to save Bury FC and that\u2019s done, we have other hurdles but the main one is complete.\u201d<\/p>\n

The Near Future<\/h3>\n

Mr Dale also added that 27 players were in training and that there is a \u201creasonable prospect of change in ownership\u201d.<\/p>\n

Although the Shakers lost last seasons manager, assistant and vice-captain, ex Everton<\/a> striker Paul Wilkinson<\/a> has been brought in as the new manager. \u201cBury is a club with a great history and I can\u2019t wait to get started. I\u2019m determined to drive the club forward in the right direction.\u201d<\/p>\n

Wilkinson has a tough job on his hands. The Shakers will join Bolton Wanderers<\/a>, who have also been given a points reduction, at the foot of League One for the foreseeable future. The club are also due in court at the end of this month. A winding-up petition brought by HM Revenue & Customs over an unpaid tax bill was adjourned for a third time.<\/p>\n

Main Photo
\nEmbed from Getty Images<\/a>