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Updated: Valletta FC ordered to pay BOV €203,527

The Civil Court has ordered Valletta FC to pay €203,527 it owes Bank of Valletta in its loan and overdraft account, plus interest.

The club was taken to court by the bank after it fell back on its payments.

The court was told that the club owed the bank €576,385 but Benny Pace, Joseph Curuana Curran and Vincent Micallef had jointly guaranteed €232,938.

The bank said it had written to the club four times since August 17, 2009 calling for the payments to be made, but nothing had happened.

The court was presided by Mr Justice Joseph Zammit McKeon.

VALLETTA PRESIDENT'S REACTION

Valletta club president Victor Schirha told timesofmalta.com that this case involved a loan taken 10 years ago when the club committee was presided by Mr Caruana Curran with Mr Pace as secretary and Mr Micallef as treasurer.

The current committee had had nothing to do with this loan, however it had assumed responsibility for it and made arrangements with the bank so that it would be settled. Payments have already started to be made.

He said that the three former officials were no longer guarantors.

Furthermore Mr Schriha denied that the bank had written to the club four times.

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F.Williams

Mar 24th 2010, 07:05

You are very wrong when you diminish the local sport honours. Your comments are unfair to the many athletes and followers of the local scene. Every country has its own competitions which generates interest and will to compete and excel in its discipline.

Your comments regarding the national team results are parallel with what Valletta F.C. believes. The current national team training scheme has to change. Only Valletta F.C. had the courage and financial back bone to confront this issue. Valletta F.C. believes that to improve the national squad we need a stronger league with most teams improving their tempo by professional training and not just the players who form part of the national squad. With this in mind Valletta F.C. is also trying to assemble a squad that can improve its performance in Europe. Mind you no one is expecting that such improvement is imminent but it can be done. Just look at Cyprus. So please if you really wish to see improvement do support such initiatives whether they come from Valletta F.C. or any other club.

r.camilleri

Mar 24th 2010, 19:33

kuragg sur victor, hallas id dejn ta haddiehor biex wara li jzarmawk jaghmlulek kif ghamlu lis sur joe.......ifittxu lil haddiehor!

r.camilleri

Mar 24th 2010, 19:40

CHAMPIONS = HIBERNIANS (min fuq darkhom)
FA TROPHY WINNERS = SLIEMA (min fuq darkhom)
PREMIER LEAGUE LEADERS = B'KARA (fuqkhom)
VALLETTA = XEJN + DEJN
mela illuminani ftit ghalxiex clubs ohra ghandhom ghalfejn jghiru ghalikhom? nahseb izjed ghandkhom ghalfejn tghiru intkhom ghal clubs ohra!

Keith Muscat

Mar 22nd 2010, 18:51

Meta nara club arroganti jbati l-kosegwenzi tal-arroganza tijaw stess ...IVA GOST NIEHDU!
Come on yellows . . . minghajr l-ebda pretensjonijiet qeghdin l-ewwel fil-klassifika!

redianne doda

Mar 23rd 2010, 05:11

did you read the article at all? it was taken 10 years ago and the person you mentioned indirectly has been known to be with Valletta ONLY 3 years.

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