Winding up proceedings
- Thread starter SamF
- Start date
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."
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."
Stunned. Right, EW and D'ON get bloody talking to Ilyas now (if he still wants to be involved). 
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.
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.
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.
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.
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.
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.
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.
Don't really understand these things, but surely winding-up proceedings are worse than admin?
They had no choice.
I am not sure of all the in's, out's and legalities of the statement,
But whatever it takes, if I can help in any way shape or form I will!
Please ask!!!
But whatever it takes, if I can help in any way shape or form I will!
Please ask!!!
How are you fixed for a £300,000 gift?
Seriously, though, I have no idea what this means. Stanley have few assets to offset against the debt, so at the moment things look very bad. I wonder what action the Football League would take? Especially if it means that we can't guarantee starting next season! I'd like to know more about the implications of this (in simple terms of course...lol)
They had no choice.
Correct, today's two articles in the Telegraph are as if they're about two different clubs.
I'd rather they'd crossed the Mafia than not paid the Revenue, and it's the nature of the non-payment that could be important.
It may not be as simple as covering the debt!