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Wed, May

Creditors accept TTFA's repayment proposal unanimously.

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.

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The TTFA’s debt proposal: HoF gets thumbs down, Warner, Fenwick and Miller make claims, and tension between creditors.

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.

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Former FIFA Vice President, Jack Warner

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.

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