Soca Warriors Online Discussion Forum

Sports => Football => Topic started by: Flex on February 11, 2012, 02:41:16 PM

Title: TTFA Debt Thread
Post by: Flex on February 11, 2012, 02:41:16 PM
No Govt $$ to clear TTFF debt
By CLINT CHAN TACK (newsday)


SPORTS MINISTER Anil Roberts was adamant yesterday that not one red cent of taxpayers’ money will be used to pay a $4.2 million debt owed to 13 members of the 2006 Soca Warriors team by the Trinidad and Tobago Football Federation (TTFF).

Roberts rejected calls for the establishment of an interim football association, saying TT would be banned from world football by FIFA if it did that.

He also gave the assurance that funding for this country’s Under 17 and Under 23 football teams will come directly from the ministry and they will not suffer as result of the dispute between the TTFF and the players.

Speaking with Newsday following the adjournment of the House of Representatives, Roberts declared: “Taxpayers money will not be used to pay any debt of any national sporting organisation whether it is the football association, the archery association or swimming.

“That is not going to happen. The TTFF is an autonomous body. The taxpayers have no legitimate responsibility to repay any monies that were owed. If they are calling upon the minister and the ministry to take taxpayers money to pay a debt owed by some organisation, that will never happen,” he said.

Saying he could not get involved in the matter because it is sub-judice, Roberts said, “The wheels of justice are turning. The law is the law. The players have their judgment in hand and they have to do, what they have to do. “Nobody is above the law and they have to follow their process.”

He rejected former national defender Brent Sancho’s call for him to launch an investigation into this matter.

“The powers of investigation fall within the remit of the Commissioner of Police, the Integrity Commission, these legal bodies,” Roberts explained.

On calls for the creation of an interim football federation to temporarily replace the TTFF,

Roberts declared: “That cannot be done. TT will be banned from football from FIFA for governmental interference.”

Saying many people had the misconception that the TTFF would get “a blank cheque” because former FIFA vice-president Jack Warner is a government minister,

Roberts suggested Sancho advise the federation’s membership to read the TTFF’s constitution and see what redress they can obtain.

He said the Under23 and Under 17 football teams “ will continue to get funding going through the Olympics but the ministry will pay the invoices directly.”
Title: Re: No Govt $$ to clear TTFF debt.
Post by: weary1969 on February 11, 2012, 03:17:32 PM
Thanks 4 clearing that up.
Title: Re: No Govt $$ to clear TTFF debt.
Post by: Brownsugar on February 11, 2012, 03:27:46 PM
Steups!!!  and in other news dog bites man...... ::)
Title: Re: No Govt $$ to clear TTFF debt.
Post by: Football supporter on February 11, 2012, 07:57:34 PM
He rejected former national defender Brent Sancho’s call for him to launch an investigation into this matter.

“The powers of investigation fall within the remit of the Commissioner of Police, the Integrity Commission, these legal bodies,” Roberts explained.


So wait.....any government ministry that discovers that over $100 million of taxpayers has gone missing, maybe even stolen cannot investigate within its own Ministry? A simple check with their bank would tell them into which account the money went. From public documents they could then see if that money appeared in TTFF or LOC2006 accounts (Anil, let me save you the time....it didn't)

Is Roberts seriously saying that once an organisation is fighting a court case, no one else can sue them or investigate them? Is he mad?

This kind of  :bs: from a Minister should see him kicked out. Kamla is supposed to be a lawyer, even she would know this is not correct case law. 
Title: TTFA Debt Thread
Post by: Tallman on September 01, 2013, 11:42:31 AM
T&T Football Association $25m in debt
By Asha Javeed


Football, the sport, is a business.

You might not believe it though, given Trinidad and Tobago’s interface with the sport—from the sporadically publicised regional tournaments which the teams participate in, to the lengthy legal battle by the Soca Warriors to get the money due to them for their 2006 World Cup appearance, to the politicising of the sport by its former national adviser and FIFA vice-president Jack Warner who resigned from the Government in April after the disclosure of the contents of  football body Concacaf’s Integrity Committee which detailed allegations of financial mismanagement by Warner and former Concacaf general secretary Chuck Blazer.

Today, the local football business is in debt—$25 million of it. 

The Trinidad and Tobago Football Association (TTFA) now has a triple challenge ahead...to reconcile the $25 million debt, to rebuild its image away from Warner’s shadow and to function as a proper business.

For now, the TTFA has no corporate sponsors or business partners. It functions on a FIFA stipend of US$60,000 every three months.

That sum, explains TTFA president Raymond Tim Kee, is used to pay staff salaries, rent and settle smaller debts.

In an interview with the Sunday Express at the TTFA’s offices at Ana Street, Woodbrook last Thursday, Tim Kee—who was elected to the post last November—spoke about the challenges in moving the organisation forward.

Read More... (http://www.socawarriors.net/mens-senior-team/senior-team-news/federation-news/12815-t-t-football-association-25m-in-debt.html)
Title: Re: T&T Football Association $25m in debt
Post by: dreamer on September 01, 2013, 12:15:42 PM
Refreshing signs of some crucial change. Will be watchin' Tim Kee with a hawk's eye. So far surpassing expectations c/w with the depressing hopeless past.
Title: Re: T&T Football Association $25m in debt
Post by: vb on September 01, 2013, 12:45:03 PM


The TTFA is supposed to have an annual budget from the MOS. Are we to assume that the usual budget of around 20-30 million TT dllrs is not available for the 2013?
I find it strange that this question and the exact amount of the budget was not asked.
Yes MOS is paying the Coaches but what about the other expenses etc??? They get blank? And why? A glaring hole in this article.

They want to boost football in the primary schools. Didn't we already have a primary school league?

I eh really know what the final sentence supposed to mean. What? He trying to repay all debts by then?

The more Kim Tee speaks the more embarrassing it is that these men stood by and allowed Warner to do this and yet have had the temerity to not resign.

He damn right he has to win the public's confidence. However, we as the public if our confidence is won must be ensure to maintain that certain factors are put into place as to not waste our public funds again.

This organisation was given around half a billion dollars between 2000-2009 and let Warner lambast the govt for a lack of support only to tell us they didn't know where the money went. The idiocy and the incompetence is staggering, compounded by the fact that many of them are still there.

VB
Title: Re: T&T Football Association $25m in debt
Post by: royal on September 01, 2013, 03:58:45 PM
Me ain't even taken on Tim Kee talking about TTFA debt. He was part of dat regime that WILLINGLY allowed Jack to run away with de money.He said nothing when Scotland and others were paying Jack directly and not de TTFF.I not even going into the LOC mess.

What he is doing however to rebound by looking at new streams of revenue sounds good. But he sat by and said nothing as a member of de executive as Jack raped T&T football 
Title: Re: T&T Football Association $25m in debt
Post by: Big Magician on September 01, 2013, 06:41:26 PM
where is our f#cking 200 million dollars ??
Title: Re: T&T Football Association $25m in debt
Post by: Flex on September 02, 2013, 01:01:12 AM
He said there were 350 registered football organisations in the country.

Not good, this is why an overall change is needed and under one umbrella. A country this small cannot have so much organizations, we biting more than we can chew.

Anyhow, this might sound ignorant, but why did they change the name from TTFF to TTFA? I taught it was to escape depts in some instance? How can one sue the TTFA for something the TTFF did/owe? isn't this one of the reason BWEE is now Caribbean Airlines to escape depts and so on? I know big companies here who operate under a different name with the same people and the same employees but they did it to escape debts. Bankruptcy is another option they practice that is very effective to some extent.

Anyways, Just asking.

Title: Re: T&T Football Association $25m in debt
Post by: royal on September 02, 2013, 05:25:13 AM
He said there were 350 registered football organisations in the country.

Not good, this is why an overall change is needed and under one umbrella. A country this small cannot have so much organizations, we biting more than we can chew.

Anyhow, this might sound ignorant, but why did they change the name from TTFF to TTFA? I taught it was to escape depts in some instance? How can one sue the TTFA for something the TTFF did/owe? isn't this one of the reason BWEE is now Caribbean Airlines to escape depts and so on? I know big companies here who operate under a different name with the same people and the same employees but they did it to escape debts. Bankruptcy is another option they practice that is very effective to some extent.

Anyways, Just asking.



Tim Kee doh want to face de hard questions of a simple but knowledgeable fan base. Yuh ain't see he want to form his own fan club? why would you do that instead of working with a base that's already there? 
Title: Re: T&T Football Association $25m in debt
Post by: Brownsugar on September 02, 2013, 05:26:23 AM
where is our f#cking 200 million dollars ??

Perhaps the green lantern might tell us one day from the platform during his campaign.  After all he did apologise for the corruption in this government.....perhpas he'll do the same for the TTFF and tell we where we money gone......and den turn heself into the police......oh to dream.....*sigh*
Title: Re: T&T Football Association $25m in debt
Post by: Brownsugar on September 02, 2013, 05:31:57 AM
Anyhow, this might sound ignorant, but why did they change the name from TTFF to TTFA? I taught it was to escape depts in some instance? How can one sue the TTFA for something the TTFF did/owe? isn't this one of the reason BWEE is now Caribbean Airlines to escape depts and so on? I know big companies here who operate under a different name with the same people and the same employees but they did it to escape debts. Bankruptcy is another option they practice that is very effective to some extent.

Anyways, Just asking.

Flex, I think it has something to do with the TTFF not being the legitimate Association.  The TTFF was a business entity owned by Camps.  TTFA was/is the body that was incorporated to run football and was never officially changed to TTFF.  The reason behind the change of name to TTFF has do with something Camps and Jackula cook up some years ago most likely to run dey racket.

I remember about 4 - 5 years ago Warner went to parliament to try to get the name officially changed to TTFF but was unsuccessful.  In fact, a few forumites wrote letters to their MP's asking that the process be thwarted.  It eventually lapsed and was never effected.

Folks with more details on the drama can explain better than I can but this is my basic knowledge of the TTFF - TTFA saga......
Title: Re: T&T Football Association $25m in debt
Post by: Flex on September 02, 2013, 05:49:55 AM
He said there were 350 registered football organisations in the country.

Not good, this is why an overall change is needed and under one umbrella. A country this small cannot have so much organizations, we biting more than we can chew.

Anyhow, this might sound ignorant, but why did they change the name from TTFF to TTFA? I taught it was to escape depts in some instance? How can one sue the TTFA for something the TTFF did/owe? isn't this one of the reason BWEE is now Caribbean Airlines to escape depts and so on? I know big companies here who operate under a different name with the same people and the same employees but they did it to escape debts. Bankruptcy is another option they practice that is very effective to some extent.

Anyways, Just asking.



Tim Kee doh want to face de hard questions of a simple but knowledgeable fan base. Yuh ain't see he want to form his own fan club? why would you do that instead of working with a base that's already there? 

Ent !!!
Title: Re: T&T Football Association $25m in debt
Post by: Flex on September 02, 2013, 05:50:34 AM
Anyhow, this might sound ignorant, but why did they change the name from TTFF to TTFA? I taught it was to escape depts in some instance? How can one sue the TTFA for something the TTFF did/owe? isn't this one of the reason BWEE is now Caribbean Airlines to escape depts and so on? I know big companies here who operate under a different name with the same people and the same employees but they did it to escape debts. Bankruptcy is another option they practice that is very effective to some extent.

Anyways, Just asking.

Flex, I think it has something to do with the TTFF not being the legitimate Association.  The TTFF was a business entity owned by Camps.  TTFA was/is the body that was incorporated to run football and was never officially changed to TTFF.  The reason behind the change of name to TTFF has do with something Camps and Jackula cook up some years ago most likely to run dey racket.

I remember about 4 - 5 years ago Warner went to parliament to try to get the name officially changed to TTFF but was unsuccessful.  In fact, a few forumites wrote letters to their MP's asking that the process be thwarted.  It eventually lapsed and was never effected.

Folks with more details on the drama can explain better than I can but this is my basic knowledge of the TTFF - TTFA saga......

I hear you.

Title: Re: T&T Football Association $25m in debt
Post by: Football supporter on September 02, 2013, 06:18:20 AM
I would imagine that the 350 football organisations include the Pro League, Super League and Zonal clubs as well as the Zones, Pro League and SuperLeague together with the Schools associations and the schools who are members. Then there's WLF and the clubs associated with that.  :beermug:
Title: Re: T&T Football Association $25m in debt
Post by: sub1 on September 02, 2013, 07:03:46 AM
Tim Kee is doing a good job so far. He, like every other leader will have his detractors. Be that as it may we have seen some genuine improvement since his inauguration. Although such improvement may not be something to write home about since the only way is up from any JW administration.
Flex, on the Issue of JW you may want to change the words "crook" and "stole" since they could produce some serious legal issues for you.
VB, you have asked some probing questions but I would mix that with the thought that the MOS moves to the rhythm of his own drumbeat. it appears that he holds that position because of JW.
Title: Re: T&T Football Association $25m in debt
Post by: Trinitozbone on September 02, 2013, 10:06:25 AM
I am not impressed. Serious ideological flaws. Business without acknowledging fans and putting the interest of players and coaches who have been in the trenches for so long is starting off on the wrong foot! His approach on marketing seems flawed . Who is he marketing to? Who is he trying to fool? Is Beenhakker going to help in the cultural shift? Is it management culture he is speaking about? How was Sheldon Phillios and Anton  Corneal selected? Is not that the same old culture? How can you have new culture with same old nepotism in selection of personnel? Poor governance !what is needed to put a proper constitution in place , have the fans and persons involved in football be part of decision making. Fans too should have a say. Proper election of all officials in a transparent process. Tim kee camethrough the back door . He has no legitimacy to make those kind of statement for the long term . He should be focussing on putting some proper structures in place and he he will get more traction in the long term. He s trying to say the right things but doing it the wrong way! I still see an old school colonial thinking in Corneal and Phillios trying to run football through their sons. Doomed for failure !
Title: Re: T&T Football Association $25m in debt
Post by: OutsideMan on September 02, 2013, 02:28:44 PM
Nothing with that story surprises me at all.  Anyone who's been paying attention for the past few years to the constant drama in this soap opera known at the TTFF (or the TTFA, or whatever they decide to call themselves to escape responsibilities from prior business dealings), should not be surprised by any story presenting financial loses, theft and misappropriations of funds, and other shady mis-deeds by this organization.

You really can't script these TTFF stories.  Wouldn't surprise me if the writers of 'Game of Thrones' probably get most of their inspiration and story ideas by coming on this site to read-up on the latest shennanigans by the TTFF.     
Title: The Government should Pay off the TTFF Debt and Revitalize our National Football
Post by: Controversial on September 16, 2014, 12:21:25 PM
The other day I saw posters and advertising of the Jamaica vs. Canada match and I thought to myself, T&T with all those resources and rich private sector and we can't pull our football out of the doldrums?

It doesn't make sense to me, none of it. The amount of corrupt governments we have had in the past and hundreds of millions in embezzlement and the public sector can't step forward and bail out our football? To restore one of our most beloved sports, a sport that can help restore morale and inspire the masses.

We need a bail out to salvage our national football, I know many would say, why should we? But why shouldn't we, if we are going to turn over a new leaf and be accountable, we need to start fresh.

I like Phillips but I don't trust Tim Kee, no offense, he has roots in the previous admin that was negligent of so many of our woes over the years. I can't help but say that if we are to bail out the program, we would need a new start with new faces and not usual suspects of friends and family of previous admin and controllers.

It's the only way we can recover, if nothing is done, we are venturing down another campaign destined for failure. Do we want this? NO, it stunts our growth, it halts our progress that SH has made. That he could make and qualify us for the next World Cup. But how will that be possible when you have so many benefactors holding our football ransom, sorry to say it but it's true. Do I blame them? No, they deserve their pay and in the current state our football is in right now, Phillips and Tim Kee can't deliver that capital.

Since this is the case, the control of our football needs to be handed off to a group who can manage our national body and bring it back to life. Perpetual money problems in a nation as rich as we are, is mind boggling.

I can only see one way out of this current fiasco and it's through government intervention once again.
Title: Re: The Government should Pay off the TTFF Debt and Revitalize our National Football
Post by: dreamer on September 16, 2014, 12:45:48 PM
Perceptions that I can't find documents to prove ...
1. Sorry to say, Uncle Tim looks suspect in covering for Jackulito these days. I kinda liked him for some of the transient trust he created by aiming to look like he was pushing a changed agenda from you-know-who, when he first came on board, but his actions speak very much louder than words. Anyway we have to be grateful for small mercies and he made a landmark decision to pay Sancho and the boys and some of the unpaid coaches and staff and that is important to heal the bottomless wounds. He might not be able to go further and end up incriminating himself. He could just be seen as a stepping stone to progress in the future that follows a catastrophic past.
2. The TTFA is being systematically starved of funds probably for multiple reasons including bad mind, a who-gives-a-shite-mentality but also perception of toxic assets in the TTFA as the socawarriors in the case have been told that they have to go after the missing money. TTFA accounts are possibly seen as radioactive and nobody wants to touch dem fellas with donations, sponsorships, while undercover lawyers might be snooping around. So not getting near, not even with a 10 foot pole.
3. Sheldon is an asset but he needs to show that he is divorced completely from the ways of Jackulito, Scampito and Rodent as the distrust runs very very deep. Peter payin' for Paul.
Title: Re: The Government should Pay off the TTFF Debt and Revitalize our National Football
Post by: socalion on September 16, 2014, 01:42:20 PM
Very interesting  subject / points  raised  here ( Contro) i  am inclined to agree with many of what  has been said as it relates to the  current  financial dilemma  the  federation is facing at the moment .... The ttfa  without doubt  are in dire need of assistance   sooner rather than later ....... it is hoped  that the government  via  the sports ministry  collectively work alongside eachother to bring some stability once and for all to  the current  dilemma..    .......will the government step up to assist thats left to be seen... politics aside ..  ....... On a side  note  wanna wish  the under20's the best against  cuba today .... give it ur all .....stay discipline ....again  best team tnt
Title: Re: The Government should Pay off the TTFF Debt and Revitalize our National Football
Post by: elan on September 16, 2014, 02:36:45 PM
All that private sector money staying in Goodwood and Moka.
Title: Re: The Government should Pay off the TTFF Debt and Revitalize our National Football
Post by: Controversial on September 16, 2014, 07:59:35 PM
All that private sector money staying in Goodwood and Moka.

the reason for that is a horrible taxation system and a non extractable economy in which the government can't allocate resources to benefit the nation in other vital areas.
Title: Re: The Government should Pay off the TTFF Debt and Revitalize our National Football
Post by: Rastaman on September 19, 2014, 08:22:30 PM
But Aunty Kamala just paid the World Cup debt..... How much more you think they going to get ???????

Title: Tim Kee allegedly deceived TTFA executive about Warriors’ debt
Post by: Football supporter on November 17, 2014, 05:45:54 AM
Tim Kee allegedly deceived TTFA executive about Warriors’ debt.
By Lasana Liburd (wired868).


Trinidad and Tobago Football Association (TTFA) president Raymond Tim Kee, according to a letter leaked to Wired868, apparently tried to deceive his own executive committee about the financial health of the football body and its debts to players and staff.

On 10 November 2014, Tim Kee, in a letter to his executive committee, appeared to dismiss claims that the TTFA had failed to meet its financial obligations to players and staff.

“There is no current debt to the national senior team and coaching staff,” wrote Tim Kee, in a letter that appeared to be signed by the football president and written on a TTFA letterhead. “The team has been paid all arrears and up to the date of this letter has been paid up to the CONCACAF tournament in Jamaica.”

The football president also told his executive committee that the arrears of his head coach, Stephen Hart, had been “addressed.”

“As you are aware, national senior team coach Stephen Hart, like his predecessors, is paid directly by the Ministry of Sport,” stated Tim Kee, on November 10, “and we have been working with them diligently to regularize Mr Hart’s salary arrangements.

“Currently Mr Hart’s arrears have been addressed.”

Both statements were, at best, economical with the truth. At worst, Tim Kee had presented a dishonest report to the football body and willfully misrepresented the condition of the TTFA’s flagship team.

On 14 November, four days after Tim Kee’s letter, Hart admitted that he still had not been paid by the TTFA while Wired868 understands he had gone eight months without a salary. The remaining staff and players have also gone six months since their last match fee with the combined debt believed to be in the region of $5 million.

And, in the period between the executive committee’s letter on October 22 and Tim Kee’s response, the “Soca Warriors” had been temporarily barred from their team camp at the Carlton Savannah hotel for non-payment. While the national players threatened to boycott the 2014 Caribbean Cup finals unless they received assurances regarding outstanding payments.

At present, the Warriors hope that outstanding money will be relayed to the squad via manager William Wallace on Tuesday November 18, which is the day of the Caribbean Cup final. The Trinidad and Tobago team, which faces host side Jamaica in the final, is bidding to lift the regional crown for the first time in 13 years.

The TTFA executive’s list of questions, which were signed by Lennox Watson, Rudy Thomas and Krishna Kuarsingh and apparently approved by Neville Ferguson, Roland Forde, Richard Quan Chan, Brian Layne, Sherwin Dyer, Paula Chester-Cumberbatch and Anthony Creed, also accused Tim Kee of failing to provide financial statements to the football body including figures for any of the Warriors’ international tours including the Argentina charter.

Tim Kee, who is also the Port of Spain Mayor, PNM Treasurer and chairman of the TTFA Finance Committee, conceded that there had been no audited accounting statements presented to the executive committee during his two years at the helm of the football body.

And he did not provide the requested information either. Instead, he blamed his failure to properly account for the football body’s spending on the “long list of financial issues” inherent in an organization that supposedly had not been audited between 2007 and 2012.

“It is particularly ironic that having inherited this previously poorly managed situation,” said Tim Kee, “that the same individuals responsible for the predicament of the organization now ‘demand’ to be presented financial statements that have been challenging to arrange due to the past mismanagement of TTFF accounts.”

Ironically, Tim Kee did not point out that he was a senior vice-president for more than half the period he identified. He did claim, though, that the football body’s management accounts would “be made available as soon as the auditors have had an opportunity to provide final sign off.”

He did not give himself a deadline to provide financial answers.

The executive committee had questions too about the TTFA’s use of FIFA funds, which should have been at least $4.8 million in 2014, and its treatment of the “Women Soca Warriors.”

“Why was the mandatory 15 percent (of the FIFA funds) not given to the national senior women’s team for their World Cup qualifying matches?” asked the executive committee.

Tim Kee did not say how much money his general secretary, Sheldon Phillips, received from FIFA but again suggested that such information would be provided after auditors had signed off on the football body’s account. Once more, he did not provide a date.

His response on the funding of the women’s team was also long-winded and vague.

Read More (http://wired868.com/2014/11/17/tim-kee-allegedly-deceived-ttfa-executive-about-warriors-debt/)

Title: Re: Tim Kee allegedly deceived TTFA executive about Warriors’ debt
Post by: AB.Trini on November 17, 2014, 07:19:47 AM
If these allegations are factual, immediate dismissal- and should be grounds for investigation as to  the credibility for future political office-
In other words- he should not be considered for public office. Time to STAMP out unethical and moral corruption among public officials.
Title: Re: Tim Kee allegedly deceived TTFA executive about Warriors’ debt
Post by: King Deese on November 17, 2014, 01:08:30 PM
The inmates running the asylum.
Title: Re: Tim Kee allegedly deceived TTFA executive about Warriors’ debt
Post by: elan on November 17, 2014, 01:41:14 PM
Bakes boy they making it hard for you to keep up with defenses, I doubt you could type fast enough. Yuh doh only have to defend hard here, but now yuh have to run around the interweb too. Chat with these fellas and tell them slow down nah man.  ;D
Title: Re: Tim Kee allegedly deceived TTFA executive about Warriors’ debt
Post by: Socapro on November 17, 2014, 01:52:30 PM
Bakes boy they making it hard for you to keep up with defenses, I doubt you could type fast enough. Yuh doh only have to defend hard here, but now yuh have to run around the interweb too. Chat with these fellas and tell them slow down nah man.  ;D
;)
Title: Re: Tim Kee allegedly deceived TTFA executive about Warriors’ debt
Post by: Bakes on November 17, 2014, 02:04:50 PM
Tim Kee allegedly deceived TTFA executive about Warriors’ debt.
By Lasana Liburd (wired868).


The TTFA executive’s list of questions, which were signed by Lennox Watson, Rudy Thomas and Krishna Kuarsingh and apparently approved by Neville Ferguson, Roland Forde, Richard Quan Chan, Brian Layne, Sherwin Dyer, Paula Chester-Cumberbatch and Anthony Creed, also accused Tim Kee of failing to provide financial statements to the football body including figures for any of the Warriors’ international tours including the Argentina charter.

I don't have to defend anything... everything Lasana writes about the Tim Kee TTFA needs to be taken with a huge grain of salt.  Note who actually signed the letter, Watson, Thomas and Kuarsingh.  Lasana writes the article as though the entire executive committee was having issues with Tim Kee, when in fact it's the same cabal over and over again.  He says the letter was "apparently approved" by the rest of the executive committee... but where's his support for that?  The truth is that Watson and Thomas (can't say anything about Kuarsingh, as I don't know) are the ones who have been trying to disrupt Tim Kee's agenda in trying to bring change to the TTFA. 

Watson and Thomas are two of the insiders (along with another one with "media contacts" who shall remain nameless for now) who have been leaking stuff to Lasana with a clear bent towards discrediting the leadership.  They benefited the most from Jack Warner's patronage, and now that they see the last few opportunities available for them to exploit being cut off, they fighting back.  Just like Lasana fond of pointing out Tim Kee's alleged ties to Jack, why don't he similarly point out in every article he writes about them, Watson and Thomas' ties to Jack... and the naked agenda they pushing?

http://wired868.com/2013/05/21/watson-tim-kee-must-retract-2006-wcup-funds-claim/

http://wired868.com/2013/06/18/totalitarian-tim-ttfa-president-accused-of-snubbing-executive-committee/

http://wired868.com/2014/10/21/ttfa-versus-tim-kee-fifa-must-referee-civil-war-in-tt-football/


Title: Re: Tim Kee allegedly deceived TTFA executive about Warriors’ debt
Post by: Sam on November 17, 2014, 02:05:57 PM
Raymond Tim Kee is a real snake.

Sometimes I does ask myself where de TTFA does get money?

Cause they have been sending teams under 17, under 20, senior, women etc to tournaments and even hosting tournaments.

Then Sheldon say they paid 11 million he deaths and Bakes saying they operating at a loss, so where they getting all this money all de time?

Who is they secret sponsors or banks?

Raymond Tim Kee hiding a lot of stuff like people in T&T dotish.

And he have Sheldon like he puppet and mouth piece.

Look, I want them fellas to do good, but they need to come clean.

They go only tie up they self in de end, let them continue.

Title: Re: Tim Kee allegedly deceived TTFA executive about Warriors’ debt
Post by: elan on November 17, 2014, 02:18:33 PM
Tim Kee allegedly deceived TTFA executive about Warriors’ debt.
By Lasana Liburd (wired868).


The TTFA executive’s list of questions, which were signed by Lennox Watson, Rudy Thomas and Krishna Kuarsingh and apparently approved by Neville Ferguson, Roland Forde, Richard Quan Chan, Brian Layne, Sherwin Dyer, Paula Chester-Cumberbatch and Anthony Creed, also accused Tim Kee of failing to provide financial statements to the football body including figures for any of the Warriors’ international tours including the Argentina charter.

I don't have to defend anything... everything Lasana writes about the Tim Kee TTFA needs to be taken with a huge grain of salt.  Note who actually signed the letter, Watson, Thomas and Kuarsingh.  Lasana writes the article as though the entire executive committee was having issues with Tim Kee, when in fact it's the same cabal over and over again.  He says the letter was "apparently approved" by the rest of the executive committee... but where's his support for that?  The truth is that Watson and Thomas (can't say anything about Kuarsingh, as I don't know) are the ones who have been trying to disrupt Tim Kee's agenda in trying to bring change to the TTFA. 

Watson and Thomas are two of the insiders (along with another one with "media contacts" who shall remain nameless for now) who have been leaking stuff to Lasana with a clear bent towards discrediting the leadership.  They benefited the most from Jack Warner's patronage, and now that they see the last few opportunities available for them to exploit being cut off, they fighting back.  Just like Lasana fond of pointing out Tim Kee's alleged ties to Jack, why don't he similarly point out in every article he writes about them, Watson and Thomas' ties to Jack... and the naked agenda they pushing?

http://wired868.com/2013/05/21/watson-tim-kee-must-retract-2006-wcup-funds-claim/

http://wired868.com/2013/06/18/totalitarian-tim-ttfa-president-accused-of-snubbing-executive-committee/

http://wired868.com/2014/10/21/ttfa-versus-tim-kee-fifa-must-referee-civil-war-in-tt-football/




Bakes I know for  fact the kind of person Watson is, however Tim Kee making them look like they right about how he doing stuff. Lasana putting everything he do in public, so if he lying or making things up we will find out.
Title: Re: Tim Kee allegedly deceived TTFA executive about Warriors’ debt
Post by: Bakes on November 17, 2014, 02:27:26 PM
Bakes I know for  fact the kind of person Watson is, however Tim Kee making them look like they right about how he doing stuff. Lasana putting everything he do in public, so if he lying or making things up we will find out.

Lasana is very good at maligning Tim Kee and Phillips, if he bothers to post facts that are neutral, or which mitigates in their favor, he buries it within the article or discredits it by his words:

Quote
“As you are aware, national senior team coach Stephen Hart, like his predecessors, is paid directly by the Ministry of Sport,” stated Tim Kee, on November 10, “and we have been working with them diligently to regularize Mr Hart’s salary arrangements.

“Currently Mr Hart’s arrears have been addressed.”

Both statements were, at best, economical with the truth. At worst, Tim Kee had presented a dishonest report to the football body and willfully misrepresented the condition of the TTFA’s flagship team.

How does Lasana know what the 'truth' is?  The two statements in question are that:

1. Hart's salary is paid directly by the MoS.
2. The issue of Hart's salary being in arrears has been addressed.

What "truth" does Lasana offer to prove that Tim Kee lying or misleading people when he says that?  These are the things that an objective observer would pick up on, but when you accept that Lasana is a 'journalis' and take for granted that he's being unbiased... you don't question that, you say to yourself "well, I have to believe him when he says that Tim Kee lying," except he never offers any proof.  From what I understand the government already appropriated money thru the MoS to pay the arrears, but nothing with the gov't is ever immediate.  Hart should be getting his money by weeks end... from the gov't, not the TTFA... as per the gov't agreement with the TTFA to pay the salaries of the coaching staff almost two years ago.  Where are the lies?
Title: Re: Tim Kee allegedly deceived TTFA executive about Warriors’ debt
Post by: Mad Scorpion a/k/a Big Bo$$ on November 17, 2014, 02:36:26 PM
this is comical.
Title: Re: Tim Kee allegedly deceived TTFA executive about Warriors’ debt
Post by: Orient Trini on November 17, 2014, 04:52:58 PM
Another Week, Another Leak.
It seems to be the repetitive story for the TTFA.

I'm very interested to see if the general sec. and the President get rid of and expose the leaks. It is a fireable offense in any line of work to leak internal information to the public, especially a mediahouse or member of media.

Reading this article and recent Lasana Liburd pieces it reeks of leaked Info from staff members. In England, anytime there is a leak it generally comes within the Communication/Media Department.
Title: Re: Tim Kee allegedly deceived TTFA executive about Warriors’ debt
Post by: Jack Horner on November 17, 2014, 07:28:51 PM
Taking
Trinbagoians
For
Assholes

TTFA

Title: TTFA Debt Thread
Post by: Sam on June 22, 2020, 09:47:08 AM
$50 million and climbing.

So when Wallace won election T&T football was in a $50 million TT debt.

We have to pay Avec Sports before we get uniforms, I never hear shit like this in meh lifetime, Wallace is a f00cking dunce and he is a teacher, nah, cah be.

Imagine this crook Peter Miller getting more than de national coach.....  :rotfl:

Now with all this crooked contracts how much more debts we in now?

So when you add it up anybody have de correct figures on how much the TTFA have to pay per year now, can anyone fill out de blanks.

Avec Sports - ?
Terry Fenwick and staff - ?
Ramesh Ramdhan - ?
Peter Miller - ?

Then we regular TTFA staff, like.

William Wallace - ?
Keith Look Loy - ?
Anthony Harford - ?
Clynt Taylor - ?
Susan Joseph-Warrick - ?
Joseph Sam Phillip - ?
Dion La Foucade - ?
Norris Ferguson - ?
Richard Piper - ?
U20 men and women staff - ?
U17 men and women staff - ?
U15 men and women staff - ?

And de list goes on.

Now I understand why FIFA did this normalization committee thing, we have a dunce running we football now and all this time I thought Wallace was good, he making John Williams look good.

Yearly.

Terry Fenwick - US$ 240,000+
An automatic two-year extension and salary increase to US$25,000 (TT$169,000) once the team qualified for the Gold Cup; Perks inclusive of private medical insurance for his daughter and a ‘suitable’ phone, laptop and motor car—with all associated costs such as insurance, maintenance and fuel borne by the TTFA.

Ramesh Ramdhan - US $60,000.

Peter Miller - US $300,000.

Avec Sports - US $163,000x4 (Totaling US $4,478,000) & if the deal is not honoured, they will owe Avec US $1.4 million.

CAS - Fr. $40,000 - FIFA didn't pay their half which amounts to 20,000 CHF.

The technical staff comprises - Terry Fenwick (Men’s Senior Team), Derek King (Men’s Under-20 Team), Angus Eve (Men’s Under-17 Team), Keith Jeffrey (Men’s Under-15 Team), Richard Hood (Women’s Under-20 and Under-17 Teams) and Jason Spence (Women’s Under-15 Team) headed the various technical staffs.

Title: Re: T&T Football debt Thread.
Post by: Flex on June 22, 2020, 01:02:52 PM
A financial breakdown of the TTFA’s expected expenditure for 2020.

1. Salaries for roughly a dozen office employees: TT$2 million;
2. Salaries for roughly 40 technical staff members: TT$2.8 million;
3. Salaries for Terry Fenwick and Peter Miller: TT$3.6 million.

Salaries totalling to TT$8.4 million annually.

Title: Re: T&T Football debt Thread.
Post by: ABTrini on June 22, 2020, 10:53:30 PM
Did I not read somewhere that Tallman :rotfl: was on the scouting payroll? :D
Or was he doing this probono?
Title: TTFA Debt Thread
Post by: Flex on September 28, 2021, 11:44:24 PM
Awai: TTFA looking to avoid debt payments by shutting down football.
By Walter Alibey (T&T Guardian).


A business ploy to avoid paying debt is one of two theories arrived at for the decision by the FIFA-appointed Normalisation Committee that manages the T&T Football Association affairs, to omit the value of the land presently housing the controversial Home of Football in Balmain, Couva from the Audited Financial Accounts that was presented at Sunday's virtual Annual General Meeting (AGM) of the organisation.

The decision led to a deferral of discussions on issues of the debt and debt-eradication, as well as approval of the audited financials, which have plagued local football for many years, based on the fact that the TTFA had no deed for the land and could therefore not include it on the audited financials.

At present, approval of the audited financials is needed for the TTFA to receive funding from the sport's world governing body- FIFA.

In July, the NC declared an overall debt of $98.5 million which excluded the amount for the land.

But on Sunday two of the 47 TTFA members - W Connection and the Veteran Football Foundation raised concerns about the current debt and why a title or lease for the land has not been attained by the TTFA to date.

Chairman Robert Hadad deferred discussions on to an EGM to be held 14 days after the AGM, expected to be Sunday, October 10.

However, Michael Awai, a former representative of AC Port-of-Spain and an outspoken stakeholder, theorised two logical reasons why the NC/TTFA could choose to exclude the value of the land which is estimated to be around $42 million.

Awai told Guardian Media Sports on Tuesday said that while he too was confused by the decision, it has led to a stand-off in T&T football that is tantamount to a shutting down of the sport, as there could now be no payment of players, no training to be had, no money to send teams on tournaments and questions of what will happen when the government gives the okay to resume football.

He is advising the NC/TTFA to consult the relevant authorities and get a Certificate of Comfort or a document that will satisfy its auditors and lead to the approval of the financial statement.

According to Awai: "The land was given by the government and it was a tri-partite arrangement, the government gives the land, the FIFA gives the money and the TTFA builds the Home of Football. I am saying that because the HoF got a TTEC and a WASA connection, they accepted some documentation that must be equal to a certificate of title which can be had literally in your hand.

From 2018 to now, what the TTFA should have done was to get a document from either the Commissioner of Valuations or the legal departments because there is documentation from the Cabinet and from the various bodies that connected the HoF, such as TTEC and WASA, so it is just administrative paperwork that has to be done to complete the exercise."

Awai, a former business development manager at AC Port-of Spain before opting to focus on his academy, noted: " Yes, I agree that they don't have a certificate of title but they are things called events after the balance sheet that could be done, so the TTFA could have corrected this problem, because in my view, why have you left out the valuation of the land? Is it because they were sure that the TTFA is insolvent and to whose benefit?

Is it that they don't want to pay people who they owe - $100 million including whoever and whoever, that just does not make any sense. And for you to call an EGM 14 days from now, will that position change?

Somebody has to be held accountable for that because it is a grave error in judgement. To hide behind the fact that you don't have a certificate of a title just does not make any sense.

So the football is being held up because somebody in the NC/TTFA believes that they are about title, but TTEC and WASA didn't believe that because the lease was granted for 100 years at a dollar a year."

Contacted, David John-Williams, the former president of the embattled football association said he would only speak on the issue of the land deed after the 14-day time frame.

John-Williams, when he assumed office in 2015, led his administration in 2018 and 2019 in presenting approved audited accounts to FIFA for the first time since 2008.

Apart from disclosing the $98.5 million debt in July the NC/TTFA also revealed that it acquired the services of Ernst & Young (EY) to assist in its debt-repayment mandate. Its mandate includes - to run the TTFA's daily affairs; to review and amend the TTFA Statutes (and other regulations where necessary) and to ensure their compliance with the FIFA Statutes and requirements before duly submitting them for approval to the TTFA Congress, and to organise and to conduct elections of a new TTFA Executive Committee for a four-year mandate.

Title: Re: TTFA Debt Thread
Post by: Tallman on November 09, 2021, 10:25:01 AM
TTFA Normalisation Committee appoints Trustee to negotiate debt repayment proposal
TTFA Media


The FIFA appointed Normalisation Committee (NC) of the Trinidad and Tobago Football Association (TTFA) has moved one step closer to developing an implementable plan to address the TTFA’s long-term debt.

An Ernst & Young report, dated April 09, 2021, put the TTFA’s total outstanding liabilities and unasserted claims (contingent liabilities) at approximately TT$98.5 million.

The NC today (Monday November 8, 2021) notified the Supervisor of Insolvency of its intent to make a Proposal under the Bankruptcy and Insolvency Act of Trinidad and Tobago which will enable a structured approach to the restructuring of the TTFA and the preparation of a fair, transparent and acceptable payment proposal to address the TTFA’s debt.

This process as it was designed, will allow the TTFA to manage its operations and provide a stay from all legal proceedings and creditor actions for a period of up to 6 months, thereby securing the TTFA’s assets while the management and NC work under the oversight of the independent Trustee to develop and present a proposal to address the TTFA’s debt to all creditors.

The NC has appointed Maria Daniel, a Licensed Trustee, to manage the debt proposal process, which will be guided by the rules of the Bankruptcy and Insolvency Act, Chapter 9:70. The process will include meetings with and the submission of claims (and supporting documents) by all creditors; a review and verification of the claims; and the development of a proposal to deal with the valid outstanding liabilities. Once the proposal has been developed and approved by the creditors, it will be sanctioned by the Courts and the NC will proceed to implement the proposal in accordance with its terms. During the development of the proposal and its implementation, the NC’s day-to-day management of the TTFA will be unaffected.

Commenting on the decision to seek protection under the Bankruptcy and Insolvency Act, NC chairman Robert Hadad said: “The TTFA is currently hamstrung with debt, and we can’t allow past mismanagement and poor governance to cripple the future of football or indeed its daily operations.

“This option, under the supervision of the Supervisor of Insolvency, the Trustee and the courts, ensures transparency, equity and independence in the process while, at the same time, ensuring that our current subventions are used for the day-to-day running of the TTFA and its present and future needs. The intent is to rehabilitate as opposed to dissolve the TTFA with a view to preserving continuity and the development of football in Trinidad and Tobago for future generations.”

BACKGROUND

On March 17th, 2020, the international governing body for football, the Fédération International de Football Association (FIFA), announced the Bureau of FIFA Council’s decision to appoint a normalization committee (NC), in accordance with Art. 8 Par. 2 of the FIFA Statutes.
The mandate given to the NC included:

•   Run the TTFA’s daily affairs
•   Establish a debt repayment plan that is implementable by the TTFA
•   Review and amend the TTFA Statutes (and other regulations where necessary) and to ensure their compliance with the FIFA Statutes and requirements before duly submitting them for approval to the TTFA Congress; and
•   Organize and to conduct elections of a new TTFA Executive Committee for a four-year mandate. 
FIFA appointed Mr. Robert Hadad (Chairperson), Ms. Judy Daniel (Deputy Chairperson), Mr. Nigel L. Romano (Member) and Mr. Trevor (Nicholas) Gomez (Member) to serve as members of the Normalization Committee (NC). One (1) additional committee member can be appointed. The NC’s tenure, which includes acting as an electoral committee “as none of these members will be eligible for any of the open positions in the TTFA elections under any circumstances,” expires upon the execution of their mandate “but no later than 24 months after its members have been official appointed by FIFA.”

QUESTIONS AND ANSWERS

Has the Normalisation Committee filed for Bankruptcy? Is the TTFA now bankrupt?

No. The Normalisation Committee has neither filed for bankruptcy nor has the TTFA been put into bankruptcy. The Bankruptcy and Insolvency Act of Trinidad and Tobago provides an avenue for individuals or organisations in financial difficulty to seek the protection of the Courts from litigation while they develop a payment proposal and negotiate with creditors to settle outstanding debt through a court supervised process that is fair, transparent, and equitable.

What happens to the individuals or organisations that have made successful claims against the TTFA in Court?

A stay of all such proceedings was automatically triggered by the filing of the Notice of Intent on November 8th 2021. This, in effect, will ensure that all creditors are treated equitably in the settlement of the TTFA’s debt.

Given the $98 million debt, how does the NC / TTFA plan to continue funding the running of football?

Filing the Notice of Intent to develop a payment proposal for creditors under the Bankruptcy and Insolvency Act, gives the TTFA the protection of the Courts from claims on its current and future income – the TTFA’s existing assets will be used to deal with the existing debt. The day-to-day operations of the TTFA and future football activity will be funded with subventions from FIFA in the first instance.

What is the total value of the TTFA’s assets?

An independent third-party valuation is to be conducted to determine that figure.

Will the Home of Football be sold?

At this stage, all options are on the table; the sale of the Home of Football is definitely an option.

When will creditors be paid?

Acting under the supervision of the court, and guided by the Bankruptcy and Insolvency Act, 2007, the TTFA has to develop a repayment proposal under the oversight of the Independent Trustee and get the approval of the creditors in a period of up to six months. The process will include meetings with and the submission of claims (and supporting documents) by all creditors; a review and verification of the claims; and the development of an approved repayment proposal to deal with all valid outstanding liabilities. Following this, a timeline will be agreed for payment to creditors.

Will creditors be paid in full?

The repayment proposal will be determined by the funding available to pay creditors, and will be made after all claims have been reviewed and verified by the Independent Trustee and those verified claims weighed against the TTFA’s ability to pay.

Is the NC taking this action so that it can extend its term beyond March 2022?

The tenure of the NC is wholly in the hands of FIFA. The decision to file a Notice of Intent to develop a repayment proposal for the TTFA’s creditors was taken because it is a court supervised process that ensures transparency, equity and independence while, at the same time, ensuring that the TTFA’s current subventions are used for the day-to-day running of the TTFA and its present and future needs.

How has the Association accumulated $98.5 million in debt and unasserted claims? Over how many years has this debt been accumulating? Who was responsible for this mismanagement over these years?

Decades of poor governance and a lack of proper internal controls characterized the operations of successive TTFA administrations and is the root cause for poor financial health and overall operational performance of the TTFA.

Has the Association accumulated additional debt since the NC was appointed?

No. During the past 12 months the NC has focused on improving the systems of governance and controls and has implemented several operational improvements, including the preparation of monthly management accounts; the introduction of improved compliance processes and procedures; enhanced systems and accounting software; and reviews by EY, FIFA and CONCACAF. The NC is in the process of implementing EY’s recommendations for new policies and procedures, use of technology and improved governance.

I know you indicated that the value of the accumulated debt and unasserted claims of the Association as at April 2021 is $98.5 million but what is the value of the Association’s assets?

An independent third-party valuation is to be conducted to determine that figure.

Why did the Association not seek funding relief from FIFA and GORTT to repay the debts of the Association?

Neither FIFA nor the GORTT has any legal obligation to repay debt accumulated by the TTFA as a result of mismanagement and poor governance.

The matter of contingent liabilities as at April 2021, what is the value of these liabilities, to whom are they due, and for what? Are these liabilities likely to crystallise and will they form part of the liabilities that the Association will have to settle?

The Licensed Trustee will meet with all creditors to ascertain the validity of each claim and make a final determination.

Why did the Association not simply take a loan from a bank or other lending institution equivalent to the liability and pay off its creditors?

With its accumulated debt and track record of poor management and governance, the TTFA would not qualify for a loan of the size necessary to settle its debt.

The NC has the responsibility, under their mandate, to develop a debt repayment plan. Why are they passing off their responsibilities assigned by FIFA to a Trustee?

By appointing an independent Trustee under the Bankruptcy and Insolvency Act, the NC is ensuring that the process for developing a repayment proposal, under the supervision of the court, would be fair, transparent and have the approval of the TTFA’s creditors. The appointment of a Trustee is a requirement of the Bankruptcy and Insolvency Act.

It is said that the Association has assets which include the Home of Football and acres of land valued at approximately $75 million, surely the Association can use these assets to settle its creditors!

An independent third-party valuation is still to be conducted to determine the value of the TTFA’s assets.

Is TTFA being dissolved?

No, the TTFA is not being dissolved; the organization will continue to operate normally under the supervision of the NC while the Trustee meets with creditors to validate their claims and develops a payment proposal to settle the TTFA’s outstanding debt. This process will allow the NC to build the foundation for the rehabilitation of the TTFA.

Have other options to this approach considered by the TTFA?

Several options were considered and reviewed with our consultants EY and this was determined to be the best and most viable; the TTFA’s assets are protected while a fair and transparent repayment plan for the TTFA’s creditors is developed with the oversight of an independent Trustee and the administration of football continues without interruption.

Can the TTFA enter into new contracts during this process?

Yes, the TTFA will continue to operate normally, under the supervision of the NC.
Title: Re: TTFA Debt Thread
Post by: Flex on March 23, 2022, 01:21:09 AM
TTFA creditors urged to submit proof of claims by April 8.
By Joel Bailey (T&T Newsday).


CREDITORS with claims against the Trinidad and Tobago Football Association (TTFA) are asked to, individually, submit a proof of claim on or before April 8, 2022.

The TTFA’s debt proposal process is being managed by Maria Daniel, a chartered financial analyst and a partner in Transaction Advisory Services, of the Ernst and Young Services Limited.

Daniel is also the holder of a trustee license under the Bankruptcy and Insolvency Act of T&T.

In a notice to the creditors, dated March 22, 2022, Daniel wrote, “each creditor with a claim against the TTFA is required to submit a proof a claim with supporting documentation in the prescribed form (Form 12) for examination and determination by me as the licenced trustee.”

She continued, “A creditor that does not submit a proof of claim shall not receive any payment pursuant to the proposal of the TTFA.

“In my capacity as licenced trustee, I require creditors that have not yet submitted their proof of claim, to obtain a copy of the prescribed form and submit their proof of claim on or before April 8, 2022.”

The prescribed form of proof of claim can be obtained by contacting 628-1105, or via email at gerren.lovell@tt.ey.com, charissa.rahaman@tt.ey.com or wanda.alexander@tt.ey.com.

On November 8, 2021, Daniel was appointed by the FIFA-appointed normalisation committee (which oversees the daily affairs of the TTFA), to manage the process, which will be guided by the rules of the Bankruptcy and Insolvency Act, Chapter 9:70.

In an Ernst and Young report, dated April 9, 2021, the TTFA’s total outstanding liabilities and unasserted claims (contingent liabilities) are approximately TT$98.5 million.

Title: Re: TTFA Debt Thread
Post by: Tallman on March 26, 2022, 09:46:26 AM
TTFA expects to present a debt-payment proposal to court by May
By Jada Loutoo (T&T Newsday)


BY the first week of May, the FIFA-appointed normalisation committee of the T&T Football Association (TTFA) is expected to present to the High Court for approval of its proposal to liquidate the football body’s massive debt.

The committee’s attorney Richard Beckles revealed this on Friday at a brief virtual hearing before Justice Devindra Rampersad.

On November 8, 2021, the TTFA filed proceedings in the High Court.

In a statement, the body said it had “notified the Supervisor of Insolvency of its intent to make a proposal under the Bankruptcy and Insolvency Act of T&T which will enable a structured approach to the restructuring of the TTFA and the preparation of a fair, transparent and acceptable payment proposal to address the TTFA’s debt.”

Chartered financial analyst Maria Daniel was appointed as an independent trustee to negotiate the debt repayment proposal.

Beckles told the judge the parties were in discussions on the arrangements to fund the proposal and funding should be in place with the plan moving forward by April 11, at which time the TTFA expects to send it to the Supervisor of Insolvency.

He also said a creditors’ meeting is hoped for on April 29, and five days from then they intend to approach the court with the proposal for its approval.

On March 22, a press release went out inviting creditors to make claims, the attorney also said.

The TTFA has found itself crippled by debt, with a number of claims filed against it in court for payment of outstanding monies.

The November application stayed any legal action for up to six months and secures the association’s assets while the trustee works with the normalisation committee to find a debt-repayment proposal to present to the creditors.

According to reports, the TTFA had a debt of $98.5 million up to April 2021, although this was reportedly disputed by former presidents of the association, who put the figure at $58 million.

Already, the TTFA has signalled that the selling of its most prized asset – the Home of Football (HoF) in Couva – could almost halve its $98.5 million debt. The HoF has an estimated value of $42.5 million and is now considered an option for sale to assist the association in significantly reducing its hefty bill.

In its statement in November, the committee outlined Daniel’s itinerary to meet with, review and verify the claims of the TTFA’s creditors to then implement a payment proposal with the HoF remaining a valuable asset on the bargaining table towards the TTFA’s financial recovery.

The statement said an independent third-party valuation will be done to determine the total value of the TTFA’s assets as it seeks to reduce its massive debt.

“At this stage, all options are on the table; the sale of the Home of Football is definitely an option,” it read.

Newsday reported in November, as it quoted an article from Inside World Football on October 8, that the deed for the land on which the HoF is built (and which FIFA provided grant aid to build) had not been secured from the government in the name of the TTFA.

Subsequently, Minister of Sport and Community Development Shamfa Cudjoe cleared the air on the land’s ownership, saying,

“The land is state land which is being leased to the TTFA. The lease has not been perfected as yet. The government, as committed, will perfect the lease for the land on which the Home of Football has been built in favour of the TTFA.

“Once perfected, the TTFA will be able to treat with the asset as they consider appropriate,” Cudjoe told Newsday back then.

In 2018, then-TTFA president David John-Williams said the association was given a US$2.5 million ($16.85 million) grant to build football’s new home.

The government, however, supplied the TTFA with the 17.5-acre parcel of land on which it stands, Newsday reported.

Several senior football administrators have expressed grave concern about potentially selling the TTFA’s most prized asset to help offset its debt.

In its previous statement, TTFA said the day-to-day management would not be affected by the process, emphasising that was “not being dissolved” and the organisation will continue to operate normally under the supervision of the normalisation committee while the trustee meets with creditors to validate their claims and develop a payment proposal.

Part of the mandate of the committee and its chairman Robert Hadad – who was at Friday’s virtual hearing – when appointed in March 2020 was to “establish a debt repayment plan that is implementable by the TTFA.”

It was responsible for running the TTFA’s daily affairs and was also tasked with reviewing and amending TTFA’s statutes (and other regulations where necessary) and ensuring their compliance with the FIFA statutes and requirements before submitting them for approval to the TTFA congress.

In the statement, Hadad said: “The TTFA is currently hamstrung with debt, and we can’t allow past mismanagement and poor governance to cripple the future of football or indeed its daily operations. This option, under the supervision of the Supervisor of Insolvency, the trustee and the courts, ensures transparency, equity and independence in the process while, at the same time, ensuring that our current subventions are used for the day-to-day running of the TTFA and its present and future needs. The intent is to rehabilitate as opposed to dissolve the TTFA with a view to preserving continuity and the development of football in T&T for future generations.”

Initially, the committee’s 24-month reign at the helm of local football was expected to end in March 2022. But in December 2021, the general secretary of the government body confirmed FIFA had given the Hadad administration a one-year extension to complete its mandate. The committee now remains at the helm of the local football body until March 31, 2023.
Title: Re: TTFA Debt Thread
Post by: Tallman on March 30, 2022, 11:45:12 AM
TTFA playing smart with foolishness?
T&T Newsday


THE EDITOR: A recent newspaper ad addressed to all creditors of the T&T Football Association (TTFA) is somewhat befuddling to me as a qualified accountant with over six decades of work experience.

What is strange is that this ad requests the creditors of the TTFA to submit proof of their claim and is placed to the back of a newspaper which the creditors may not see. Also, it is a very small advertisement which might hardly be seen by a claimant.

And the TTFA must already know the names and addresses of the creditors, so why isn't this notice sent by mail to them since not everybody reads newspapers these days?

Then the ad requires all creditors to submit proof of their claims against the TTFA on or before April 8 and threatens that a creditor who has not submitted the information before this date will not be paid.

Is there a law in the country which gives someone the legal right, in this case a liquidator, to determine and say that if the documents are not delivered inside ten days then that is the end of the claim and the TTFA’s liability? It doesn’t work like that.

I must also ask: Since the TTFA would have prepared audited accounts over several decades with the supporting documents being already verified by professional auditors and certified to prepare the balance sheet, then why must these documents be resubmitted so suddenly?

This could be a costly and time-consuming exercise for many of the creditors who may not be able to locate their documents after 30 years or more.

Where are the documents and the bills in the TTFA’s office? Someone must find them. Having been audited and already verified, isn’t this proof enough for the liquidator to accept the work of previous professional auditors (which is acceptable practice)?

Is the TTFA playing smart with foolishness and looking for a way to deny creditors their just settlements which have been withheld for years?

PS MORALLES
Financial Accountant
Cascade
Title: Re: TTFA Debt Thread
Post by: Tallman on April 28, 2022, 05:27:51 PM
Minister of Sport and Community Development, Shamfa Cudjoe, says Government's is not responsible for clearing the TTFA's debt.

https://www.youtube.com/v/S-Ct3nwJnSQ
Title: Re: TTFA Debt Thread
Post by: Flex on April 30, 2022, 12:15:14 AM
Cudjoe: No help from government to clear TTFA debt
By Walter Alibey (T&T Guardian).


Minister of Sports and Community Development Shamfa Cudjoe has assured that there will be no help to come from her government to help clear the debt of the T&T Football Association, which includes submissions of claims by the embattled football association creditors.

The TTFA debt of TT$98.5 million was approved by its general membership back in October 2021, however, to date 289 creditors have made claims for TT$84.5 million, while three government agencies have submitted claims is for an additional TT$6,1 million which brings the total claims so far is for TT$90.65 (US$13.5 million).

Former FIFA vice president, CONCACAF president and Special Advisor Jack Warner, 79, who has been banned from football for life but quit FIFA in 2011, leads the list of claimants for a sum of TT$22.6 million (US$3.38m). Also making claims are Sheldon Phillip, the former TTFA general secretary, who is seeking to be paid TT$12 million as well as other substantial amounts coming from former national coaches Stephen Hart, Kendal Walkes, Anton Corneal, Russell Latapy, Terry Fenwick and Derek King.

Dennis Lawrence, a former national coach who also submitted claims for salaries, breach of contract and other amounts owed to him after he was fired in 2019, won a multi-million-dollar T&T High Court judgment against the TTFA in March.

The list also has former presidents and administrative staff among other claimants.

Speaking at the Launch of Grow It Yourself (GIY) Challenge in Diego Martin on Wednesday when asked if her government would consider assisting in paying off the TTFA debt Minister Cudjoe responded, “It is not a part of the government’s policy, the Ministry of Sports and Community Development’s policy to clear off debt for National Governing Bodies (NGBs). The taxpayers’ dollar is geared towards assisting in development programmes so that we can improve the development of each sporting discipline and create opportunities for the athletes and the sporting fraternity.”

He added, “As it relates to the bills that the TTFA would have incurred due to mismanagement and or malmanagement over the many years, over decades, I am sure the TTFA will come up with a plan alongside FIFA and the Normalisation Committee towards treating with that, but right now the government’s policy does not permit us to take taxpayers’ dollars and clear any debt for any national governing body.”

The minister has been approached by Robert Hadad for help to clear the existing debt which has crippled local football over the years. Cudjoe is also expected to meet with Hadad to discuss the start-up of the Unified Football League which will cater for both the top tier and the second tier football tournament in T&T.

Title: Re: TTFA Debt Thread
Post by: kounty on April 30, 2022, 06:15:05 AM
nice that this thread get resurrected.

what ever happen to Derek King? Still the under 20 coach?

Sheldon Philip debt make me realize i went in the wrong field--all now i coulda have US$2M in the bank for an easy-peasy few year of wok.
Title: Re: TTFA Debt Thread
Post by: asylumseeker on April 30, 2022, 03:53:32 PM
nice that this thread get resurrected.

what ever happen to Derek King? Still the under 20 coach?

Sheldon Philip debt make me realize i went in the wrong field--all now i coulda have US$2M in the bank for an easy-peasy few year of wok.

+ that ludicrous incentivization should government monies be sourced.
Title: Re: TTFA Debt Thread
Post by: Flex on April 30, 2022, 11:59:56 PM
The TTFA’s debt proposal: HoF gets thumbs down, Warner, Fenwick and Miller make claims, and tension between creditors.
By Lasana Liburd (Wired868).


Trustee for the Trinidad and Tobago Football Association (TTFA), Maria Daniel, revealed to creditors that the local football body has received 291 financial claims amounting to roughly TT$90.7m. But to settle its debts, the TTFA has ‘an approved financial arrangement’ of US$3m (TT$20.1m) —minus a ‘supervisory levy’ of TT$1.005m

It means that creditors, collectively, are being asked to write off TT$70.6m owed by the TTFA.

The local football body, which is currently under the control of a Fifa-appointed normalisation committee, did not reveal the source of the US$3m fund. However, the Trustee stressed that the TTFA ‘intends to fund the proposal by virtue of an approved financial arrangement which does not require the collateralization of the assets of TTFA—specifically, ‘Home of Football’.

The proposal by the Trustee was submitted to creditors via email as a precursor to a creditors meeting at the TTFA’s Home of Football in Couva on 5 May 2022, which aims to address the local football body’s debts while avoiding bankruptcy.

The Trustee noted that creditors were divided into three categories: employees with claims for wages or services rendered since 8 May 2021, government and state creditors, and unsecured creditors, which refers to everyone else.

The first two categories will be satisfied first and amount to TT$6.1m, along with the supervisory levy of TT$1.005m. The remaining TT$16.095m will go towards the remaining creditors whose claims, mind you, amount to TT$84.5m.

In correspondence to the creditors, the Trustee suggested what they will be offered:

‘[…] Each unsecured creditor whose claim has been validated and approved by the Trustee shall receive payment in full of the first TT$200,000 of their claim within six months of the effective date.

‘Unsecured creditors whose outstanding balance exceeds the payment referred to […] will receive a pro rata amount (based on their unpaid claims that have been validated and approved by the Trustee) of the balance of the financing arrangement after payment of the claims of the employees and the government and state creditors […] within six months of the effective date.’

Two hundred and fifty eight unsecured creditors submitted claims for TT$200,000 or less. The TTFA’s proposal is that they all be paid in full, minus the 5% service levy. However, the remaining 31 unsecured creditors are being offered 32.4% of the outstanding sum owed to them once they have collected the initial TT$200,000.

By that formula, Soccer United Marketing LLC, which claimed to be owed TT$195,455, will be paid TT$185,683 as full settlement, thereby incurring a loss of just TT$9,772.

Creditors owed under TT$200,000 include former coaches Clyde Leon, Teba McKnight and Nigel Neverson, who have all died before receiving their due, as well as a host of current Women’s National Senior Team players including Lauryn Hutchinson, Kimika Forbes, Chelcy Ralph and Liana Hinds.

However, former Trinidad and Tobago Men’s National Senior Team head coach Stephen Hart whom the High Court ruled the TTFA owes TT$4.9m in unpaid salaries and bonuses and for breach of contract, will receive just TT$1.6m, a whopping TT$3.3m short of the sum in his judgement.

Other former national coaches who also stand to lose millions are Russell Latapy and Dennis Lawrence, as well as past and present technical directors Kendall Walkes and Anton Corneal.

There are two caveats. First, the proposal goes into effect once there is ‘a majority in number and two-thirds majority in value of each voting creditors present in person or by proxy who have a proven claim’.

The ‘majority in number’ of creditors are owed under TT$200,000 and will be delighted with the offer. However, the ‘two-thirds majority in value’ will swing the other way as the top 10 unsecured creditors alone submitted claims for TT$63.8m from the total TT$90m claim.

Does it mean both the majority of creditors and those owed the largest sums have to agree to accept the proposal? Or would one or the other suffice?

Wired868 spoke to six creditors who all commented on the proposed offer on condition of anonymity:

Creditor One (a former coach owed over TT$200,000): “Absolutely ridiculous and borderline disrespectful… but I am going to be guided by my lawyer!”

Creditor Two (a former coach owed under TT$200,000): “Sounds good to me!”

Creditor Three (representative of a former coach owed over TT$200,000): “That’s a paltry offer while the Normalisation Committee and Trustee are being paid handsomely for minimal effort.

“Also, who has provided the loan and why is it so low?And why is the lease for the land [on which the Home of Football stands] still not perfected in favour of the TTFA, as promised by the Sports Minister recently—which would surely enhance the valuation and payment to creditors?”

Creditor Four (a former technical staff member owed under TT$200,000): “Based on what I have read without making an in-depth study as yet, it appears to be reasonable. The TTFA cannot mortgage the future of football in order to pay 100% of its debt.

“We had been asking all along for the executives to make an offer to pay off the debt with a down payment for each creditor (in some cases 100%) and the balance over a period of time, as the fortunes of the Association improve. It fell on deaf ears.

“Of course, I have sympathy for [the creditors owed over TT$200,000]. They worked just as hard as I did and made financial sacrifices. That’s why I think my suggestion of a down payment and instalments over a period of time is the best solution for those in that category.

“I don’t expect them to accept 32.4%. I expect them to try and negotiate a better deal for themselves. I know I would.”

Creditor Five (a former service provider owed over TT$200,000): “It is unfair and biased if creditors who are owed 200k or less are paid in full. They are using what’s owed to those who have debts of over 200k to pay off those creditors, so they can get a majority vote—and scare tactics are being used.

“The fair thing would be to offer 80 to 85 percent to all, so everyone takes a reasonable loss.”

Creditor Six (a former official owed over TT$200,000): “After years of being ignored, it’s not a surprise they’ve introduced such a proposal. But knowing they have an asset and available revenue streams, there is little incentive to take their offer seriously.”

The Trustee warned, however, that is the best deal that the creditors would ever get. Should the proposal be rejected, Daniel warned, the TTFA would be wound up.

‘If the proposal is approved by the creditors and the Court, the TTFA, under the administration of the Trustee, is bound to the terms of the proposal,’ stated the Trustee. ‘In the event that the proposal is not approved, the TTFA will enter into formal bankruptcy proceedings via an assignment in accordance with section 25 of the Bankruptcy and Insolvency Act (in which case the TTFA will subsequently be liquidated).

‘[…] It is estimated that the return for unsecured creditors under a formal bankruptcy of the TTFA would range between zero cents up to a maximum of 12 cents for every dollar due to such unsecured creditor.’

The TTFA’s prize asset is the controversial Home of Football, which was constructed under the watch of former president David John-Williams at a cost that almost certainly exceeded the Fifa budget of US$2.5m (TT$17m).

A valuation by Brent Augustus, conducted in February 2022, put the value of the three-storey 72-room hotel at TT$17.9m. Notably, this valuation follows ‘extensive work’ done on the facility by the Government, over two years, to make it fit to house Covid-19 patients.

“Corporate sponsorship came from Ansa McAl, Beacon provided the public liability insurance, I had a number of companies providing us with the fire extinguishers, Safe Tech, and some other companies and also the fire signs,” said then Minister of National Security Stuart Young, at a press briefing on 22 April 2020. “[…] We had Flow provide the cable and the internet for each room, we had WASA on site within a matter of hours, doing all that was needed to be done to get the water supply working.

“The Defence Force worked overnight to fix the sewerage system, CEPEP—Minister Kazim Hosein and his CEPEP gang—got there a matter of hours after the request, cleared the place, built fire trails…”

Yet two years later, and although the Home of Football is regularly used to house national footballers, the Trustee admitted that the venue is not ‘up to standard’ and the local football body might struggle to recoup even the money spent on it.

‘It may be difficult to find a buyer for the Home of Football due to the specialised use and nature of the building and the necessary cost for completion and upgrades required on the facility to bring it up to standard,’ stated the Trustee. ‘There is currently no lease in favour of the TTFA with respect to the land upon which the Home of Football currently stands.

‘This will be an impediment to any purchaser and may reduce the amount that may be recovered for the distressed sale of this asset.’

Should the TTFA’s creditors choose to snub the proposal and instead liquidate or leverage the assets of the local football body, according to Daniel, they could easily end up with far less than the TT$20.1m on offer at present.

There is one more noteworthy addendum. It is the list of creditors itself.

‘Of the 291 creditors, the Trustee has received proof of claim forms from 59 of the unsecured creditors representing claims of TT$49,636,526.88,’ stated the Trustee. ‘Save and except for the NIB and the BIR, a creditor that does not submit a proof of claim which is validated by the Trustee is not entitled to receive any payment pursuant to this proposal.

‘Please note that this list does not suggest or confirm validity of any claim but (is merely) a listing of known creditors at this time.’

And the TTFA’s current list of would-be creditors is eye-raising. At the top of the pile with the largest bill is disgraced former Fifa vice-president and TTFA special advisor Jack Warner, who is fighting extradition to the United States for allegedly defrauding Concacaf, the Caribbean Football Union (CFU) and the TTFA of revenue properly belonging to the umbrella bodies.

Regardless, Warner is claiming that the TTFA owes him TT$22.7m.

Former TTFA general secretary Sheldon Phillips is the football body’s self-professed second highest creditor. Phillips’ contract, under late ex-president Raymond Tim Kee, promised him handsome commissions on revenue brought into the TTFA’s coffers on top of his salary—a clause he allegedly invoked for grants from the government as well.

Phillips, at one point, was suing the TTFA for TT$2m. However, his current claim is for TT$12.1m.

Former Soca Warriors coach Terry Fenwick and his dodgy compatriot and marketing man Peter Miller are also holding their hands out again.

With then football president William Wallace, Fenwick and Miller both struck deals that were not approved by the TTFA board. In fact, Wallace alleged that the two Englishmen specifically asked that their contracts be kept secret from the board.

Notably, the TTFA Constitution allows the football president to enter into contracts on behalf of the local football body.

Although Fenwick and Miller have already been paid by normalisation committee chairman Robert Hadad—and, in an unrelated enterprise, the Trinidad and Tobago Police Service (TTPS) during the tenure of commissioner Gary Griffith—both still submitted additional claims to the Trustee for TT$4.5m and TT$3.9m respectively.

Incidentally, Griffith’s firm, Security Analyst Services, also submitted a claim for TT$254,603, which is believed to be for work under the John-Williams-led administration.

Another curious case is the unsuccessful Women’s National Senior Team staff headed by Stephan De Four, which was dismissed in 2019 under the Wallace-led administration.

De Four’s contract terms were never seen or agreed to by the then TTFA Board and he was thought to be working pro bono. However, the US-based coach submitted claims for TT$361,000.

Even more bizarre, though, is that his support staff are demanding up to five times as much as the head coach. De Four’s goalkeeper coach, Earl ‘Spiderman’ Carter, has a claim of TT$1.5m while his assistants Darrel Marcelle and Andy Salandy claimed TT$1.38m and TT$981,000 respectively.

These claims are still to be accepted by the Trustee.

‘Where the whole or any part of a claim is disallowed, the Trustee shall notify the creditor and set out the reasons for the determination of the Trustee,’ said the missive. ‘The Trustee’s determination is final and conclusive unless the creditor successfully appeals the Trustee’s determination to the court within the time period prescribed by the Act.’

Should claims be struck off, it would mean more money to be shared among the ‘valid’ creditors and a concomitant percentage increase in the current 32.4% offer. (For instance, if Warner, Fenwick and Miller are all blanked, the remaining creditors will each receive a share of the TT$31.1m thus left on the proverbial table.)

‘Every creditor who has lodged a proof of claim is entitled to see and examine the proofs of other creditors,’ stated the Trustee.

It would be in the interest of bonafide creditors, then, to peek into the claim forms of their less obvious ‘colleagues’. Notably, the Trustee, as one creditor pointed out, has not differentiated between creditors owed for services already provided and those who were denied the chance to work owing to breach of contract.

Hadad took 18 months to hand over the most critical aspect of his mandate, the TTFA’s debt, to professionals. The next two weeks, as Daniel’s team faces off with creditors, will be crucial to the future of the local football body.

Title: Re: TTFA Debt Thread
Post by: Deeks on May 01, 2022, 05:44:09 AM
The ‘majority in number’ of creditors are owed under TT$200,000 and will be delighted with the offer.

The height of sarcasm!!! Delighted ???  Jack having f-------g gall to make claim against the organization he destroyed. No wonder the first thing I lamented to my friend Mike Grayson when I heard Abu had blown up the Police HQ. God may punish me for holding this thought "you mean to say Abu did not blow up TFA ?".
Title: Re: TTFA Debt Thread
Post by: Bourbon on May 06, 2022, 06:55:24 AM
Quote
Creditor Three (representative of a former coach owed over TT$200,000): “That’s a paltry offer while the Normalisation Committee and Trustee are being paid handsomely for minimal effort.

Creditor Five (a former service provider owed over TT$200,000): “It is unfair and biased if creditors who are owed 200k or less are paid in full. They are using what’s owed to those who have debts of over 200k to pay off those creditors, so they can get a majority vote—and scare tactics are being used.


Thats basically my thoughts on it. But the hardball position of "take it or leave it" kinda implies that not much else could happen.


HOWEVER....I looking at those who demanding their pound of flesh. Some have just grounds to demand...others being punitive and wicked.

If this gets settled....the one good thing is the TTFA SHOULD be on a clean slate.

The eternal optimist in me hopes that this would be the start of something different.
The realist......he eh so sure.


Title: Re: TTFA Debt Thread
Post by: ABTrini on May 06, 2022, 11:16:19 AM
Government should cease the assets of Centre of Excellence and  sell the property- monies from sale  help to pay of TTFA debts.

" render  unto Caesar what is Cesar"

" Rob Peter to pay Paul"

" Take the jacket from Jack"  who give ' Jack this  racket?"   oops jacket? ;D ;D ;D ;D
Title: Re: TTFA Debt Thread
Post by: Flex on May 07, 2022, 12:15:49 AM
Creditors accept TTFA's repayment proposal unanimously.
TTFA Media.


The Trinidad and Tobago Football Association’s (TTFA) creditors met today and voted unanimously in favour of a debt repayment proposal through the Bankruptcy `Act that will see them receive based on the current validated claims anywhere from 63 cents in the dollar to 100 per cent of the monies owed to them.

The meeting was held at the Home of Football, Couva and chaired remotely by the Supervisor of Insolvency, who was in quarantine.

Creditors were invited to vote after a comprehensive 45-minute presentation by the TTFA appointed Trustee, Maria Daniel, that gave a full illustration of how the TTFA found itself in its current state of debt and the options that were considered before arriving at utilising the restructuring option available through the `Bankruptcy Act option.

Referee’s Association representative Osmond Downer, complemented Daniel on the quality of her work and proposal, evoking applause from the entire room.

The proposal, which was developed by Daniel and her EY Team in collaboration with the TTFA’s FIFA-appointed Normalisation Committee, will be funded by an interest-free USD3.5 million instrument that the TTFA will have 10 years to repay. Creditors owed up to TT$200,000 will be paid in full and the balances above that will be pro-rated. They will also have the option to be paid in US or TT dollars.

There were 299 creditors listed in the Trustee’s repayment proposal with a total unsecured debt of TT$84.5 million. Ninety-three of these submitted, had claims amounting to $59.3m of which eighty-eight were validated with a value of $34.4m before today’s meeting. Fifty-one of them (or their proxies) registered and voted at today’s meeting. Notably absent was the TTFA’s largest listed creditor, Austin Jack Warner, who topped the list with a debt of $22.7 million. Daniel advised the meeting that Warner did not submit a claim for validation.

The Trustee’s original proposal, which creditors received on April 22, was enhanced prior to the meeting – total funding was increased by US$500,000 to US$3.5 million, and instead of allocating a TT$3 million provision for the BIR and the NIB, funds would now be set aside for outstanding payments monthly.

The meeting included representatives from the Office of the Supervisor of Insolvency; law firm Fitzwilliam, Stone, Furness-Smith & Morgan; EY; and Normalisation Committee chairman Robert Hadad and member Nicholas Gomez.

RELATED NEWS

Trinidad and Tobago FA creditors accept debt repayment proposal.
By Jelani Beckles (T&T Newsday).


ATTORNEY Keith Scotland, representing former Soca Warriors head coach Stephen Hart, said his client is elated following the outcome of Thursday’s meeting with TT Football Association creditors who voted unanimously in favour of a debt repayment proposal through the Bankruptcy Act.

Hart was among several coaches and football administrators owed money.

Scotland told Newsday, “I am very happy about it, it is better than nothing. It is a very happy day for us because we are getting 61 cents on the dollar as opposed to nothing for the past years.”

Hart was fired in 2016 after more than three years in charge of the national men’s senior football team. He still had time left on his contract and therefore money was owed to him.

Scotland said Hart is also satisfied, saying, “I spoke to him about an hour ago…he is elated that this matter is being brought to an end.”

The normalisation committee was praised by Scotland. “Mr (Robert) Hadad and they, sometimes we knock them but this one was well done between them and the trustees.”

The TTFA media release said the creditors will “receive based on the current validated claims anywhere from 63 cents on the dollar to 100 per cent of the monies owed to them.”

The meeting, held at the Home of Football in Couva, was chaired remotely by the Supervisor of Insolvency, who was in quarantine.

Creditors were invited to vote after a comprehensive 45-minute presentation by the TTFA appointed trustee, Maria Daniel, that gave a full illustration of how the TTFA found itself in its current state of debt and the options that were considered before arriving at utilising the restructuring option available through the Bankruptcy Act option.

Referee’s Association representative Osmond Downer, commended Daniel on the quality of her work and proposal, evoking applause from the entire room.

The proposal, which was developed by Daniel and her Ernst and Young team in collaboration with the TTFA’s FIFA-appointed normalisation committee, will be funded by an interest-free US $3.5 million instrument that the TTFA will have ten years to repay. Creditors owed up to TT$200,000 will be paid in full and the balances above that will be pro-rated. They will also have the option to be paid in US or TT dollars.

There were 299 creditors listed in the trustee’s repayment proposal with a total unsecured debt of TT $84.5 million. Ninety-three of these submitted, had claims amounting to $59.3 million of which 88 were validated with a value of $34.4 million before Thursday’s meeting. Fifty-one of them (or their proxies) registered and voted at the meeting. Notably absent was the TTFA’s largest listed creditor, Jack Warner, who topped the list with a debt of $22.7 million. Daniel advised the meeting that Warner did not submit a claim for validation.

The trustee’s original proposal, which creditors received on April 22, was enhanced prior to the meeting – total funding was increased by US$500,000 to US$3.5 million, and instead of allocating a TT$3 million provision for the BIR and the NIB, funds would now be set aside for outstanding payments monthly.

The meeting included representatives from the Office of the Supervisor of Insolvency; law firm Fitzwilliam, Stone, Furness-Smith & Morgan; Ernst and Young; and normalisation committee chairman Robert Hadad and member Nicholas Gomez.

Unified Coaches: Don't repeat TTFA's mistakes

INTERIM president of the Unified Coaches of TT Jefferson George is hoping national football administrators learn a lesson from the bankrupt Trinidad and Tobago Football Association (TTFA).

George said football coaches and other stakeholders should not have to wait years to receive what is owed to them, as salaries must be paid on time.

On Thursday, TT Football Association (TTFA) creditors voted unanimously in favour of a debt repayment proposal through the Bankruptcy Act.

A TTFA media release on Thursday said the creditors will “receive based on the current validated claims anywhere from 63 cents on the dollar to 100 per cent of the monies owed to them.”

The meeting included representatives from the Office of the Supervisor of Insolvency; law firm Fitzwilliam, Stone, Furness-Smith & Morgan; Ernst and Young; and normalisation committee chairman Robert Hadad and member Nicholas Gomez. The normalisation committee was appointed in March, 2020 by Fifa to help find solutions for the TTFA which was facing insolvency.The debt was approximately $50 million when the normalisation committee was appointed.

George hopes the situation does not repeat itself as in some instances coaches have been waiting more than five years to receive payment.

“I am concerned that things like this do not reoccur…salaries are something standard, salaries should be paid based on your terms, if it is fortnightly (or) monthly. That’s when salaries are due,” George said.

“The sheer number of coaches that’s on the list shows the type of (situations) that coaches endure as it relates to salaries. I would hope that this is a turning point.”

Some of those who are set to benefit from the proposal are TTFA technical director Anton Corneal, former national men’s senior football coaches Stephen Hart, Dennis Lawrence and Russell Latapy and former TTFA technical director Kendall Walkes.

“It is to be expected that some people are going to be more pleased than others with their settlement,” George said.

Thursday’s meeting, held at the Home of Football in Couva, was chaired remotely by the Supervisor of Insolvency, who was in quarantine.

The TTFA media release, giving more details, said, “The proposal will be funded by an interest-free US $3.5 million instrument that the TTFA will have ten years to repay. Creditors owed up to TT$200,000 will be paid in full and the balances above that will be pro-rated. They will also have the option to be paid in US or TT dollars.”

Creditors were invited to vote after a comprehensive presentation by the TTFA appointed trustee, Maria Daniel, that gave a full illustration of how the TTFA found itself in its current state of debt and the options that were considered before arriving at utilising the restructuring option available through the Bankruptcy Act option.

The release said, “There were 299 creditors listed in the trustee’s repayment proposal with a total unsecured debt of TT $84.5 million.”

George said because of inflation those coaches who will be paid will suffer a loss.

“The money that you are now receiving, although it is not the full amount, it is also less in value.

“I am pleased to get to a point where we can start with current bills being paid on time. I think coaches are going to be satisfied and it is going to be a better situation going forward.”

Corneal, who was rehired as technical director in February under the normalisation committee, was owed money by the TTFA in a previous stint as technical director.

Corneal wants the focus shifted on the field. On Friday, he told Newsday, “I was just happy that this chapter in my life is closed and hopefully we can just move on and take care of the development of the game which should be our priority at this time.”

Title: Re: TTFA Debt Thread
Post by: Tallman on May 07, 2022, 04:52:02 PM
TTFA stakeholders call for Hadad to finish work and leave
By Ian Prescott(T&T Express)


Trinidad and Tobago Football Association (TTFA) stakeholders are eager to see local football removed from the hands of the FIFA-appointed normalisation committee chairman Robert Hadad and put back under the control of Association members in the soonest time possible.

Now that a plan has been accepted to clear the TTFA’s major burden, a multi-million dollar debt to creditors, the stakeholders are adamant that other items on the normalisation committee’s mandate be completed within a short time.

“No more dilly-dallying and delaying,” stated Referees Association president Osmond Downer yesterday. “It is time that the business of the TTFA be put back in the hands of the representatives of the membership, so long as proper amendments are put in the constitution to avoid past mistakes.”

Likewise, Veterans Foundation president Selby Browne has similar views and has written to acting TTFA general secretary Amiel Mohammed requesting that a meeting of stakeholders be held. Browne also thinks it time for the normalisation committee to fulfil its mandate and leave.

Having removed the former TTFA executive led by president William Wallace, on March 17, 2020, FIFA announced its appointment of a normalisation committee headed by local businessman Hadad, and gave it the mandate to resolve the estimated TT$100m TTFA debt; run the Association’s daily affairs; amend the TTFA constitution and call a fresh elections of officers.

“It is expected that these three items of the FIFA mandate can certainly be expeditiously completed by the normalisation committee with the continued guidance and support of the CONCACAF and FIFA, most certainly well before March 17, 2023, the date of the appointment of the normalisation committee,” stated Browne.

Following Thursday’s meeting, Downer was appointed one of three creditor-representatives and assigned the task of working along with the trustee’s committee, with a view to overseeing the fair distribution of money owed to the TTFA’s creditors.

Also appointed was former national footballer Leonson Lewis. The meeting comprised creditors, their legal representatives, representatives from the Office of the Supervisor of Insolvency and members of the normalisation committee, including Hadad. An Ernst & Young chartered accountant team comprising TTFA trustee Judy Daniel, Gerren Lovell, Chariffa Rahaman and Wanda Andre presented a debt resolution proposal which was accepted by the majority of creditors.

The proposal will see creditors paid all or part of the money owed to them via a US$3.5 million loan. The interest-free loan gives the TTFA ten years to repay. Creditors owed up to TT$200,000 will be paid in full, with the rest getting as much as 63 per cent of the outstanding amount.

Stephan De Four, the United States-based former senior women’s national coach, is much happier with the latest offer than what was previously announced by trustee Daniel. De Four indicated that he had kept in touch with those at the meeting held at the Home of Football, Couva, two days ago.

“I think with the new proposal they came with at the meeting, I agree with it,” De Four stated, “not with what they were offering before.”

Creditors were given the choice to accept their payment in American or Trinidad and Tobago dollars and Downer believes that it should take no more than two to three months to get money into the bank accounts of those owed.

Downer also believes that the normalisation committee can fulfil its mandate to amend the TTFA constitution and call fresh elections long before March 17, 2023, when its term in office officially ends.

“The remaining things can be dispatched within a matter of weeks: the amendment of the constitution is no big thing,” stated constitutional expert Downer, “and then there is the election of officers.”

“Amendment to the current constitution will not take that long because it was based on the FIFA’s standard statutes for members Associations,” Downer added.

Meanwhile, Browne is adamant that TTFA members must also meet soon.

“I wish to bring to your attention the urgent need to have a meeting of the TTFA membership convened soonest, to receive a formal report on the meeting of the TTFA creditors with the trustee, chaired by the Supervisor of Insolvency held at the Home of Football on May 5 2022,” Browne wrote to Mohammed.

“Based on media reports, I wish to extend congratulations to the trustee Ms Maria Daniel and her team, for bringing the massive debt of the TTFA to successful conclusion,” he stated.

“Now that the main item of the FIFA mandate to the normalisation committee has been successfully resolved by the trustee, it is important that a membership meeting be called to formally be advised about this new development that involves the payment of monies by the TTFA, which is the eventual responsibility of the membership of the TTFA.”
Title: Re: TTFA Debt Thread
Post by: Tallman on May 08, 2022, 04:17:38 PM
No, TTFA—you cannot do that to Warner
T&T Express


The decision-making by the restorative committee to settle the debts of the Tri­nidad and Tobago Football Association (TTFA) is quite disturbing and an indecent affront to the people of the country. The decision to pay some of the creditors their full balances and others a lesser percentage is an unfortunate and inexcusable act of discrimination.

The liquidator should contact a constitutional lawyer to obtain an opinion that in the matter of liquidation, all creditors must be treated equally and should refer to the Trinidad and Tobago Constitution, Chapter 4.01, The Supreme Court of Judicature, Section 21, which states that in all matters where there is any conflict or variance between law and equity in any matter, the rules of equity shall prevail.

According to Allen & Overy LLP (GB), direct discrimination occurs when a person treats A differently to B in a matter when both should be treated equally.

But leaving this aside, the more grievous matter is the decision that if after nearly three decades a creditor cannot produce evidence of the claim, the creditor will not be paid. So what happens if a fire des­troyed a coach’s house, or if he has died and his family knows not where the bills are?

Isn’t this not using smartness to be foolish and dishonest and taking advantage of a person?

So I must ask the liquidator how was the TTFA able to produce the audited finan­cial reports, and how were the auditors able to verify the accounts if invoices were not received and examined by both them and the TTFA?

Surely, the TTFA must have had the documents and would have had the opportunity to challenge the bills and only put in the accounts that it knew it owed, so how come?

Is it that the TTFA was negligent and has lost the bills and in order to circumvent liability, it has come up with a smart man’s solution that if you don’t have a bill in 2022 for work done in 1985, 37 long years ago, that you will not be paid?

The fact is that if the TTFA cannot find the bills given to them, then the TTFA must pay, simply because the bills would have already been supplied and received and acknowledged in the presentation of its financial reports.

I now come to Mr Jack Warner, whose claims of $22 million happen to be the largest, and where it appears that the committee has acted in a most draconian manner towards Mr Warner, who made the biggest contribution to football in the country—a contribution that put this speck of a country on the global stage, a contribution that gave every citizen an identity that we could win against all odds if we tried our best, that our citizens must never accept defeat because of feelings of inferiority and, most importantly, the removal of our shackles of slavery.

Is what is happening the right manner to treat Mr Warner?

The TTFA, thanks to Mr Warner, is the worst act of ingratitude I have seen in my life. If obtaining copies of bills is an impossibility for both sides after three decades, the least that can be done is a discussion to arrive at an amicable, fair settlement. Certainly not what I am seeing, which appears to be a most dishonest and unreasonable solution. Take note, TTFA. Start looking for your court clothes.

It is no wonder that T&T is falling in the crack more and more every day because of the limitations of persons who cannot see the bigger picture and where integrity seems to be absent almost everywhere.

Peter S Moralles
Cascade
Title: Re: TTFA Debt Thread
Post by: Tallman on May 08, 2022, 04:28:57 PM
Warner finally submits $22.7 million claim to TTFA
By Walter Alibey (T&T Guardian)


A day after a former special adviser to the T&T Football Association (TTFA) Jack Warner was said to have failed to submit claims for monies owed to him by the TTFA, a claim was submitted.

Maria Daniel, the authorised trustee for the TTFA/Normalisation Committee dealing with claims from creditors in a bid to liquidate a $98.5 million TTFA debt, confirmed that Warner, a former Concacaf president and FIFA vice president who was eventually banned from all football over allegations of corruption, submitted a claim for $22.7 million on Friday.

However, he has fallen short of providing satisfactory supporting documents to validate the claims.  

"Mr Warner actually sent in a claim today (Friday) with the same figures stated $22.7 million. Again, I will have to go through section 139(2) where persons notified under section one, and they were notified, do not prove their claim within the time limit or within such further time as the court may allow.

"Mr Warner's claims will have to be validated. Right now, there is no support for the claim that would make it validated at this point, so he has to send in more information," Daniel explained.

Warner was among some 299 creditors who voted unanimously in favour of a debt repayment proposal through the Bankruptcy Act that will see them receive based on the current validated claims anywhere from 63 cents in the dollar to 100 percent of the monies owed to them.

The meeting was held at the Home of Football, Couva and chaired remotely by the Supervisor of Insolvency, who was in quarantine.

Daniel, who sought to explain how some of the entire processes were done, said: "The way the process went when we did the notice of intention which would be the first notice would be everything that the TTFA had in their knowledge of possible debts, so it would be their trade payables, legal matters that would be considered contingencies, it would be everything.

"So what that really had was all the contingencies and when I say contingencies, I mean if somebody says you owe me $5 million or you owe me $10 million but no court or no action has agreed to that debt.  

"The second step was for people to put in a claim form and that would have moved the numbers from $98.5 million to $59 million.

"After you send in your claims, we look at these claims and as the trustee, I have the power to authorise whether to accept the claim based on the information sent. Now that info must support what you're saying from two perspectives, that it was something that the TTFA agrees to and the value you have put in is reasonable and fair.

"So on that basis, we would have gone through all the claims, looked at the supporting documents, looked at what people were claiming, etc and that moved the figure from the $59 million to $34 million."

The proposal, which was developed by Daniel and her EY Team in collaboration with the TTFA’s FIFA-appointed Normalisation Committee, will be funded by an interest-free USD3.5 million instrument that the TTFA will have 10 years to repay. Creditors owed up to TT$200,000 will be paid in full and the balances above that will be pro-rated. They will also have the option to be paid in US or TT dollars.

The proposal was skilfully crafted to protect the embattled football association from any legal action in the future.

Daniel said: "That is the reason that this Act works, it actually stops the legal action. Anything that comes up before the date of the notice of intention, falls under this same process.

"However, if there was a claim and there was a disagreement, whatever was agreed upon afterwards, this is a step back. For the claims that I have invalidated or disagreed with, there is a 30-day notice for you to come back and argue your point or look at it, and therefore it could still change.

"The amount can go under 63 cents. We said very clearly that based on the validated claims at this point in time, so the first time we spoke about it, it was 30-something cents because we had $59 million worth of claims.

"We brought that down to $34.4 million based on validations so the cents went up plus we got a little extra in the pool. So what would happen now is that if there are significant claims that would be allowed, it's the one pool so pro-rata each person could get less but it can not fall below the 100 cents for the people who are $200,000 and below."

Meanwhile, Robert Hadad refused to explain where monies to finance this debt eradication were sourced. According to Hadad: "We chose not to reveal that just yet until we have the conditions of the loan finalised and we get all the details of the repayment etc." 
Title: Re: TTFA Debt Thread
Post by: Deeks on May 09, 2022, 01:35:06 AM
Peter S Moralles are you  friggin crazy ?
Title: Re: TTFA Debt Thread
Post by: Flex on May 09, 2022, 11:46:13 PM
Normalisation Committee says debt settlement ‘fair and equitable’
T&T Guardian Reports.


The Trinidad and Tobago Football Association (TTFA) Normalisation Committee says its repayment proposal was fair and equitable, despite all claims not being settled.

In a statement on Saturday, it thanked creditors and all who participated in the exercise that led to the approval of the repayment proposal that will finally resolve the association’s years’ old debt problem.

TTFA’s creditors met on Thursday under the chairmanship of the Supervisor of Insolvency and voted unanimously in favour of a TTFA NC’s debt repayment proposal, made through the Bankruptcy and Insolvency Act, that will see them receive anywhere from 63 cents in the dollar to 100 per cent of the monies owed to them, based on current validated claims.

The Normalisation Committee extended thanks to the EY team and the Trustee Maria Daniel for their tireless and unrelenting efforts, and everyone else who participated in the process of resolving the debt problem.

“We, the members of the committee, are grateful for where we are today, and while we would like to have been in a position to fully satisfy the claims of all legitimate creditors, we think the Trustee did an excellent job in arriving at a solution that was fair and equitable, with the resources available to us,” said Normalisation Committee chairman Robert Hadad.

The Normalisation Committee said the repayment process took longer than it had planned because of several contributing factors, including the legal battles and the pandemic.

There were 299 creditors listed in the Trustee’s repayment proposal with a total unsecured debt of TT$84.5 million (US$12.5 million). Ninety-three of these submitted had claims amounting to TT$59.3 million (US$8.7 million), of which 88 were validated with a value of TT$34.4 million (US$5.1 million) before Thursday’s meeting. Fifty-one of them (or their proxies) registered and voted at the meeting.

Notably absent was the TTFA’s largest listed creditor, Austin Jack Warner, who topped the list with a debt of TT$22.7 million (US$3.3 million). Daniel advised the meeting that Warner did not submit a claim for validation.

Hadad also thanked FIFA for the role it played in helping us get to this point and we now look forward to working with the Government, SporTT Company and other stakeholders to getting football on course for brighter days. The journey has now begun.”

The debt repayment proposal will be funded by an interest-free US$3.5 million instrument that the TTFA will have 10 years to repay.

Creditors owed up to TT$200,000 (US$29,497) will be paid in full and the balances above that will be pro-rated. They will also have the option to be paid in US or TT dollars. - (CMC)

Title: Re: TTFA Debt Thread
Post by: Flex on May 17, 2022, 01:21:16 PM
TTFA thanks Caribbean Airlines for support during pandemic.
By Jonathan Ramnanansingh (T&T Newsday).


THE TRINIDAD and Tobago Football Association (TTFA) normalisation committee chairman Robert Hadad has thanked Caribbean Airlines for their continuous support and professionalism shown to the national teams throughout the pandemic.

During the men’s team qualification campaign for the 2022 FIFA World Cup, between March and June 2021, the airline has been facilitating travel arrangements for the team, and offering its best group rates and other facilities, to ensure that the squad make it to their scheduled games.

Hadad said, “The response and support from Caribbean Airlines has been excellent. All through the covid19 pandemic, they have been accommodating and professional to all our national teams.

“We wish to thank you for the support and we look forward to a continued relationship as the association enters another busy calendar of activity in 2022 and beyond.”

Caribbean Airlines provided travel support to players and TTFA members for their recent football games, ensuring affordable, comfortable, and convenient travel to various destinations.

Dionne Ligoure, Caribbean Airlines head of corporate communications said, “Caribbean Airlines is always keen to provide convenient and affordable travel solutions to our valued customers.

“Further, as a responsible corporate citizen, the support provided to organisations like the TTFA and others are in the interest of the development of sport, youth and our communities.”

Title: Re: TTFA Debt Thread
Post by: Tallman on September 08, 2022, 12:02:22 PM
Warner, Fenwick, Miller appeal decision to blank claims against TTFA
T&T Newsday


FORMER FIFA vice-president Jack Warner, ex-men’s national football coach Terry Fenwick and sports marketer Peter Miller have filed appeals in the High Court after their claims against the T&T Football Association (TTFA) were rejected by TTFA-appointed trustee Maria Dillon.

Dillon was appointed by the TTFA normalisation committee on November 8, 2021, to manage the local football body's bankruptcy process.

A TTFA press release on Wednesday said as a result, the court’s consideration of the TTFA repayment proposal filed under the Bankruptcy and Insolvency Act will be slightly delayed.

The TTFA said that "the court was asked for a short adjournment to consider filings” made by Warner, Fenwick and Miller.

“The Honourable Justice Devindra Rampersad sat virtually on Wednesday, September 7, 2022 to consider the application to approve the repayment proposal, filed by Maria Daniel, the trustee acting on behalf of the TTFA’s FIFA-appointed normalisation committee.”

The repayment proposal was unanimously approved by TTFA’s creditors on May 5 at a meeting chaired by the Supervisor of Insolvency.

“Attorneys Rekha Ramjit and Nera Narine, acting on behalf of Warner, have filed various applications challenging the trustee’s decision to disallow the claims of Warner and his various companies.”

Concerning Fenwick and Miller, the TTFA release said, “At 3 pm, on the day before the hearing, the trustee was notified of applications made by Kiev Chesney and Chelsea Chesney, representing Fenwick and Miller, who are now also appealing against determinations made by the trustee with respect to their claims.”

Kerwyn Garcia, instructed by Chrishaunda Baboolal, acting on behalf of the trustee, requested to have all matters related to the TTFA’s debt repayment brought before one judge to facilitate better case management and economy of time and effort. Garcia emphasised the need to have all matters determined expeditiously so that the TTFA could complete its restructuring exercise and proceed with the task of developing football in T&T, which is of national importance.

All parties agreed and the matter was adjourned to September 26.

Fenwick was hired on a two-year deal on January 1, 2020 and was paid US$17,500 per month with other bonuses. He was fired in June, 2021 after T&T failed to get past its first round of World Cup qualifying matches.

Miller was hired on January 1, 2020 as TTFA marketing director on a two-year contract. He was expected to earn US$25,000 per month. His contract also mentioned a US$30,410.95 payment for services “since on or about November 25, 2019.”
Title: Re: TTFA Debt Thread
Post by: royal on September 09, 2022, 02:25:13 AM
An audit should be done to see how much money Jack Warner owes the TTFA. Monies were paid to him instead  the TTFA throughout his reign with the expectation the TTFA would receive it. To say the the TTFA owes him is beyond ridiculous.
Title: Re: TTFA Debt Thread
Post by: Tallman on December 21, 2022, 12:34:57 PM
TTFA members sour Christmas for creditors
By Walter Alibey (T&T Guardian)


T&T Football Association (TTFA) creditors will not receive payment before Christmas Day as was initially planned, due to the recent Extraordinary General Meeting (EGM) called by the memberships on December 10.

At that meeting, a vote was approved for an election of a new executive and that meeting is to take place by March 18, 2023.

The meeting also agreed that the FIFA-appointed Normalisation Committee needs to wrap-up its mandate before the March deadline. However, those decisions have put a spoke in the wheel of the creditors who were to receive their payments by Christmas Day.

A release from Maria Daniel, Trustee in the Proposal of TTFA, appointed on November 8, 2021, said: “Pursuant to Section 44 of the Bankruptcy Insolvency Act, I do confirm that the Proposal was approved and passed in the High Court of Justice on September 28, 2022. While it would have been my greatest joy to commence payments to all approved Creditors before Christmas day, the recent developments raised at an emergency AGM held in early December (called by some of the members), has raised some concerns by the financier as it relates to the non-financial requirements and terms and conditions of the financing.”

She noted: “We would like to reiterate to the creditors, some of whom are members of the TTFA general assembly, that the proposal laid out to the creditors and the courts is a process and not simply a payment to settle the legacy debt of TTFA.”

“In addition to the settlement of the TTFA’s outstanding debt, the proposal requires that the TTFA’s governance be restructured and oversight strengthened so that the mismanagement that has happened in the past, would not recur. For reference, I draw your attention to section 1.7 of the Proposal: (a) The TTFA will implement the following to assist with managing general and administrative costs: ie. Establishing and implementing new procurement procedures for engaging suppliers. ii. Proper governance in the management and contracting of new coaches in line with the grants provided by FIFA, CONCACAF, government organisations, and other private institutions. iii. Ensure financial integrity is restored with funds received for the development of the game; or for specific events being used as it should, to give suppliers, staff and coaches the confidence that services that are properly procured will be paid on a timely basis. iv. Establishment of sound transparency practices to give sponsors and other donors the confidence that money donated is spent for its intended purpose supported by cost-effective processes that enable funds to be invested in the development of the sport and its sportsmen and women.”

The proposal to be funded via an interest-free US$3.5 million financial instrument, was approved unanimously by the creditors whereby validated creditors owed up to TT$200,000 will be paid in full and balances above that will be pro-rated. The TTFA/NC is set to face legal battles from former national coach Terry Fenwick and Peter Miller, the former marketing officer, both of whom have decided to challenge the proposal offered, while another creditor Jack Warner agreed to not challenge the offer.

Daniel urged that the proposal should not be taken lightly, saying: “Please note, the above section of the Proposal is not to be taken lightly, as it was agreed with the Financier prior to confirmation of the financing arrangement. This is also aligned with the mandate given to FIFA appointed Normalisation Committee as a condition for FIFA’s continued involvement in T&T football. To reiterate, the mistakes of the past administrations cannot be repeated. If the time is not given to the Normalisation Committee and the current management team to implement the steps outlined above, the success of this restructuring effort will be at risk.”

“Notwithstanding, as stated in the Proposal, all payments to Unsecured Creditors shall be paid within six (6) months of the “Effective Date”. The “Effective Date” means the date on which the Proposal becomes effective, being the date on which the Court approves the Proposal, which as stated above is September 28, 2022.”

“This means that legally the payments to the Creditors can be made on or before March 28, 2023. If no agreement can be reached with the financier before the end of the six (6) month period, the Proposal shall be deemed to have failed. I will continue my close collaboration with the Normalisation Committee and with the Financier to drive the needed changes that will give the Financier the comfort that they need to release the funds so that the payment can occur as soon as possible before the March deadline.”
Title: Re: TTFA Debt Thread
Post by: Tallman on December 28, 2022, 04:14:19 AM
VFFOTT wants answers from Daniel, FIFA’s Normalisation Committee
By Keith Clement (T&T Guardian)


The Veterans Footballers Foundation of T&T (VFFOTT) is calling on Trustee Maria Daniel to answer several questions in writing following her letter to creditors dated December 16, 2022, which indicated that payments to creditors are in jeopardy following the Extraordinary General Meeting (EGM) of members on December 10, 2022.

At that meeting, a vote was approved for an election of a new executive and that meeting is to take place by March 18, 2023.

The meeting also agreed that the FIFA-appointed Normalisation Committee which was appointed by FIFA in March 2020 needs to wrap up its mandate before the March deadline.

However, Daniel letter has suggested that the decision made in that meeting have affected the creditors who were to receive their payments by Christmas Day (December 25, 2022).

According to the release from Daniel, the proposal of TTFA appointed Trustee on November 8th, 2021, said: “Pursuant to Section 44 of the Bankruptcy Insolvency Act, I do confirm that the Proposal was approved and passed in the High Court of Justice on September 28, 2022. However, has raised some concerns by the financier as it relates to the non-financial requirements and terms and conditions of the financing.”

In its letter dated December 24, 2022, and addressed to Amiel Mohammed the acting General Secretary of the TTFA, VFFOTT’s President Selby Browne is requesting four items from Daniel, namely: copies of the Minutes of the meeting called by the Normalisation Committee to present for the TTFA Membership approval; the petition presented to the High Court of Justice of T&T on behalf of the TTFA Membership and approved on September 28, 2022; the name of the Financier for the proposes interest-free US$3.5 million financial instrument; the status of work done by both the Trustee and Normalisation Committee with the requirement for policies, guidelines, and management structure recommendations and whether both the Trustee and Normalisation Committee have plans to ensure payment to TTFA creditors will commence on or before January 15th 2023.

Meanwhile, when contacted by Guardian Media Sports on Tuesday Browne disagreed that the December 10 EGM should be used as a reason to delay payments to the Creditors.

He said: “Any attempt that seeks to indicate the grounds for the inability of the Trustee and the Normalisation Committee to implement the scheduled pre-Christmas payments to creditors, which was formally announced and confirmed with the TTFA creditors, cannot be as a result of the outcome of the December 10th TTFA EGM called by the Normalisation Committee. The pre-Christmas schedule must have been predicated on the preparation and deliverability of the relevant undertaking of section 1.7 of the proposal and agreement having been made by both the Trustee and the Normalisation Committee in its petition presented to the High Court of Justice of Trinidad and Tobago on behalf of the TTFA Membership. The inability to make the promised pre-Christmas payments has two things to do with the TTFA EGM of December 10, 2022, the First is “Nothing”, and the Second, “Absolutely Nothing”.

Asked if the AGM scheduled for March 18, 2023 should be the Normalisation Committee’s final act, Browne responded: “Most definitely. You retain the services of a contractor to perform certain services and upon competition of the items listed in the mandate you perform the final act for which you are paid and return to your respective areas of competence.”

With regards to amendments to the TTFA constitution, Browne said: “The mandate with respect to any amendments to the Constitution clearly states “if required. The facts are right next door in Guyana, the FIFA Normalisation Committee held an election for the new Executive a few months ago and the new Executive has presided over its constitution amendments.”

Asked if the membership is confident that the Normalisation Committee will finally hand over TTFA come March 2023 he pointed out that: “The Normalisation Committee has been appointed and is paid by FIFA to complete a mandate within a specific period, in this case for a two-year period initially and extended by a further year. It is quite possible the Normalisation Committee may wish to beg FIFA for additional time to complete the work originally assigned for a two-year period.”

Asked to comment as to who is footing the interest-free US$3.5 million financial instrument to pay Creditors, Browne revealed: “The short answer is not officially. That information has been requested by VFFOTT Letter of Demand to the TTFA General Secretary Ag, in addition to the copy of the minutes of the meeting called by the Normalisation Committee to present for the TTFA Membership approval, the petition presented to the High Court of Justice of Trinidad and Tobago on behalf of the TTFA Membership and approved on September 28, 2022. The response to this is already well-known.

The unfortunate reality is certain members of the NC and present and past members of the TTFA for some unknown reason have been of the view that the Normalisation Committee has been placed to administer football in T&T for eternity, and not a contractor appointed to complete a mandate within a specific period, for which due payment is made.”
Title: Re: TTFA Debt Thread
Post by: Tallman on July 21, 2023, 05:54:51 AM
Only Fenwick, Miller left: Debt settlement process near end, Constitution proposals by August
By Ian Prescott (T&T Express)


Except for the English duo of Terry Fenwick and Peter Miller, all other Trinidad and Tobago Football Association (TTFA) creditors, have been paid via a debt settlement exercise approved by the Trinidad and Tobago High Court under the Bankruptcy and Insolvency Act (BIA).

Indicating this position was the trustee appointed by the TTFA Normalisation Committee(NC), to liquidate the Association’s over $50 million debt to creditors. The NC has also indicated that changes to the TTFA constitution will be presented to TTFA delegates next month. This leaves the calling of fresh TTFA elections as the final mandate to be completed by the NC, before it returns football to an elected TTFA executive.

Given the above, TTFA board member Selby Browne, president of the Veterans Football Foundation, sees no reason why the FIFA-imposed Normalisation Committee should not complete its mandate in a further 90 days and had over power.

“One would think that by the start of the third quarter they would be ready to dust their pants and leave,” Browne declared yesterday.

Browne’s comments came following a July 11, meeting between the Normalisation Committee and TTFA delegates at the National Academy of Performing Arts (NAPA) in Port of Spain. TTFA general secretary Amiel Mohammed wrote delegates on July 6, inviting them to a meeting, where trustee Maria Daniel was due to present an update on a settlement process to the TTFA’s historic multi-million dollar debt. However, just seven delegates turned up.

Daniel informed those attending, that the work of the NC concerning the debt-settlement process had been completed and that all TTTFA creditors, except Fenwick and Miller, were paid money owed by the TTFA. The process of clearing the TTFA debt was facilitated via an interest-free US$3.5 million loan that the TTFA will have ten years to repay via its annual FIFA subvention.

The claims of Fenwick and Miller are still before the Court, but, in keeping with a judgement of September 2022, monies have been put aside, in trust, from a FIFA loan, to pay the pair should they win their cases. If they lose, the monies put aside will be shared among the deserving creditors.

At the recent meeting, Normalisation Committee chairman, Robert Hadad, also informed the few delegates present, that FIFA, CONCACAF and the NC had been working on preparing proposals for the necessary changes to the TTFA Constitution, and that those few proposed changes, will be circulated to the TTFA members in August this year.

Given the poor attendance at the July 11 meeting, the Daily Express obtained e-mailed correspondence among TTFA delegates, where Referees Association president Osmond Downer called for an emergency general meeting to be convened.

“One would have thought that, because of the abysmal attendance at the meeting, you would have, by now, informed all the members of the TTFA of the two significant pieces of information that were supplied to the delegates that were present at the meeting,” Downer indicated in correspondence sent to the TTFA general secretary Mohammed.

“I now propose that the Normalisation Committee convene an official Extraordinary General Meeting of the member delegates, at the earliest possible time, so that the members can be officially informed of these and other matters regarding the progress made,” Downer added via the correspondence.
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