Source: Bournemouth_Echo
Cherries: Bailiffs set to go in and recover Piper's cash
JOHN Piper once a majority shareholder in AFC Bournemouth says he is set to carry out his threat to send in the bailiffs to Dean Court.[LNB] Piper, also formerly an associate director and company secretary of Cherries, has been pursuing the club for arrears to a loan he made to the previous owners nine months ago.[LNB] Dorset-based businessman Piper agreed to a short-term loan of £30,000 to help pay players' wages in April and has so far only been paid back £10,000.[LNB] The debt was passed on to the club's new owners as part of the sale agreement when the Murry Group took control from Paul Baker in June, a fact not in dispute.[LNB] However, Piper says the reluctance of the club's current owners to repay him in full has left him with no alternative than to instruct bailiffs to recover his security.[LNB] He has decided to take the action after the County Court in Bournemouth this week dismissed an application by the club to pay him back in instalments.[LNB] The court ordered the club to repay the funds forthwith and Cherries chairman and majority shareholder Eddie Mitchell last night said they would endeavour to do so within 14 days.[LNB] Piper's claim was for around £24,000, which comprised the remainder of the £30,000 loan plus legal fees and interest.[LNB] The case is not connected to a recent civil action brought by Piper against Cherries vice-chairman Jeff Mostyn that centred on a dispute over a separate loan. At a hearing in November, the court ruled in favour of Mostyn and also ordered Piper to pay his costs.[LNB] Commenting on his ongoing action, Piper told the Daily Echo: As far as I am concerned, they are just being bloody-minded. This is my current working capital and I need it. I've got no alternative but to instruct High Court bailiffs to levy.[LNB] I am particularly disappointed that the company has reneged on every arrangement and every facility which I have given them to pay off the debt.[LNB] Through the Daily Echo, they have recently reported a profit across two months. Also, attendances for home matches are considerably increased on what would have been budgeted for.[LNB] News of Piper's intended course of redress will come as a big blow to Mitchell, who appears to have made good progress regards eating into the club's debt mountain since taking control seven months ago.[LNB] Mitchell told the Daily Echo: It's disappointing for us that we can't pay in instalments but we've got to find it. If we can't find it then the door is open for Mr Piper to enforce whatever action he can enforce. We're going to do our utmost to find it.[LNB] The club is only going to find the money from resources it can sell or offer. It's not going to find the money from the board. The board is going to work tirelessly to get the money but it's not going to come out of the board's pockets.[LNB] Mitchell, who stressed the debt was the club's responsibility and not that of any one director, added: Mr Piper has made his claim and got his judgement. If he ends up putting the bailiffs in to take all the shirts for his security because we can't pay him then that will have to be the case. We're hoping it's not going to be the case. We're working hard and tirelessly not to make it the case.[LNB] A court official confirmed the club's application to pay in instalments had been rejected and also that they had been told to pay Piper's costs.[LNB]
