Winding up proceedings

SamF · 29-05-2009, 12:54

Bradshaw Boy · 29-05-2009, 13:01

Well they've been winding us for months so I guess you do reap what you sow!!

Winding-up

"The process by which a company dies. Under Part IV of the Insolvency Act 1986, there are three separate procedures - a members voluntary winding up where a company is solvent, a creditors voluntary winding up for insolvent companies and a compulsory winding up by the court. Once the process starts the company is administered by a liquidator who disposes of all assets, and distributes the remainder to members or creditors. When the process is complete, the company is struck off the Companies Register and ceases to exist."

Wynonie Harris · 29-05-2009, 13:02

Stunned. Right, EW and D'ON get bloody talking to Ilyas now (if he still wants to be involved).

Doug · 29-05-2009, 13:08

Can the club not now make an alliance with its supporters and make an issue of shares available to raise capitol. It might only raise a few thousand, but its cash that can be utilised. The other issue is that of Mr Khan’s offer to the club, would this not make life and survivability an all lot easier Eric.

In respect of the fan base, it maybe small and time is defiantly hard but if you put trust in us and communicate openly then a lot could be achieved without having the fear of historical enactments of our darker past. We hear what you say, we want to help.

VALAIRIAN · 29-05-2009, 13:10

What does this mean???? Are we as a club going to cease? Are we going to be fined/lose points??? What has happend to all that stuff quoted stating we have "No Debt"..........

derekgas · 29-05-2009, 13:12

They certainly had a hard time of it lately, it is a hard life in Accrington lately for running a business.

Doug · 29-05-2009, 13:20

I think we need to trust in what’s written in the clubs statement and believe that the current restructuring pays dividends, that along with the backing of the fan base, the local community, local business and the council could see us through. If the club fails to talk and trust in its fans and the community, then 62 could be overshadowed by current events, this in real terms is a **** pot amount of money, the answer has already been written by a local businessman that shares the clubs passion, now it in the hands of the club. But mark these words, if the club (meaning Eric and David) continues to sit on their pride rather than work with us, there is unlikely to be a place in the local community where they would hold any respect of the public.

Doug · 29-05-2009, 13:22

Quote:

Originally Posted by derekgas

They certainly had a hard time of it lately, it is a hard life in Accrington lately for running a business.

It is for any small business, anywhere of late. But when their are people willing to help you there can be no excuse for this situation.

VALAIRIAN · 29-05-2009, 13:25

How can we be in this position when we have somebody offering us money ???????

Tin Monkey · 29-05-2009, 13:26

There have been rumours of this for a good while now, so it doesn't really surprise me, but it does worry and sadden me.

How serious is this then? Is the next step administration? That's a hell of a lot of debt and it's no wonder that any takeover has been delayed.

VALAIRIAN · 29-05-2009, 13:29

This type of news would - in my opinion - put off players thinking of coming and some of those thinking of signing...........

AccyMad · 29-05-2009, 13:29

At least the club is now being honest with us, although reading it made me sick to the stomach and like others I'm not sure what this means for our beloved club. Let's hope they continue with this openness and let us know what is actually happening behind the scenes so that we as fans can try & help in whatever way we can. Eric, please get on the blower to Ilyas and take the help he is willing to offer.

Wynonie Harris · 29-05-2009, 13:31

Don't really understand these things, but surely winding-up proceedings are worse than admin?

VALAIRIAN · 29-05-2009, 13:31

Quote:

Originally Posted by AccyMad

At least the club is now being honest with us, although reading it made me sick to the stomach and like others I'm not sure what this means for our beloved club. Let's hope they continue with this openness and let us know what is actually happening behind the scenes so that we as fans can try & help in whatever way we can. Eric, please get on the blower to Ilyas and take the help he is willing to offer.

Its on Sky Sports Breaking News...... Looks like the club just got in first

VALAIRIAN · 29-05-2009, 13:32

Quote:

Originally Posted by Wynonie Harris

Don't really understand these things, but surely winding-up proceedings are worse than admin?

I do not either, but would agree with you