Statement Tomorrow

[countygump]

Latest news is we haven’t paid Crawley town any money for compo when harry Kewell left and we haven’t paid any money to Wycombe for loaning us Craig mackail Smith.

What on earth has Alan Hardy done to this football club ?

https://www.nottinghampost.com/sport...-money-2972544

[HAPPYMAGPIEHAPPY]

https://www.nottinghampost.com/sport...-money-2972544

At last it’s nice to see scoop coming up with some info for local supporters, keep up the good work even though it’s all bad news so far.

[countygump]

Evidently, the fact people are saying admin is a likely option very much suggests that. Admin is no longer a magical process that removes your debt for a few points deduction as said in my post

Not any more. if admin is not exited, 'correctly' then expulsion from the league or a massive points penalty may well follow.

Football creditors rule
In a situation of insolvency, the "football creditors rule" means that debts to other clubs or players are prioritised and must be paid in full before the club is eligible to compete again in the league.[18] The Enterprise Act 2002 made reforms to the insolvency act and, from 15 September 2003, the altered procedures for administration were implemented.[19] Most notably it abolished the Crown's preferential right to recover unpaid taxes ahead of other creditors.[20] As such, HM Revenue and Customs (HMRC) is now often not paid in full (between 2003 and 2010, outstanding unpaid taxes to the HMRC amounted to £30 million).[21] This legality of the football creditors rule was challenged in 2004 in Inland Revenue Commissioners v The Wimbledon Football Club Ltd. However, it was found that "full payment to football creditors (out of third party funds) ahead of preferential creditors did not infringe the provisions of section s4(4)(a) of the Act" and "differential treatment may be necessary to secure the continuation of the company's business and may be regarded as supportable".[22]

In 2011 HMRC brought another challenge to the football creditors rule in the High Court, this time on the basis that it breached fundamental principles of insolvency law, including the pari passu rule that all unsecured creditors should be paid on a proportionate basis. However, in May 2012 the court rejected the challenge as it found that the rule was not a deliberate evasion of insolvency law.[23]

[legs77]

Remember when a few were getting excited about Bolton going bust then Bury ?

As I said back then be careful saying stuff like that as we are in a worse position by far.

[jonnyt1]

I suggest people read the National League rules. Defaulting a football creditor can result in suspension from the League.

These are really bad times and I think it's 50:50 whether we compete in any League next season.

[GranthamPie]

I think 50:50 is very generous

[Old_pie]

Is this statement still due tomorrow? If so I'll stop looking today.

[legs77]

Is this statement still due tomorrow? If so I'll stop looking today.

Tomorrow never comes !!

10th July is looking more & more like tomorrow

[MagpieMike]

Is this statement still due tomorrow? If so I'll stop looking today.

Suspect the OP was bull, like most of the people on here who have a friend of a friend who is mates with Hardy's dog, and has the inside view of the takeover.....

The only statements I will believe are official ones from reliable sources. If there is to be a statement today, can the OP confirm at what time, and what's the content?

[Bridg4d_Pie_]

Is this statement still due tomorrow? If so I'll stop looking today.

The Statement Tomorrow Post was posted at 7-02 pm last night by one who knows it all.

However in reality it would appear he knows S.F.A. rather like Corbyn whom he obviously shares information with, may I suggest.