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Wanderers Ways. Neil Thompson 1961-2021

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Mounts Kipper

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They got paid their fat wage cheques last month , chances are the £1000s players get last far longer than minimum wage staff get ..

 

 

it really should be irrelevant. A wage is a wage.

 

You are, of course, both correct.

But I'd wager than a 10% deferral of player salaries might cover all the staff wages.

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It's all news to me, I know nothing about this area (clearly!). But no one mentioned this before this story broke. I find that staggering that no journo actually researched the effects of the order, despite the court hearing being postponed.

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a court hearing to determine whether a company is solvent.

in other words, does it have enough funds to continue trading for the foreseeable future.

if not, a winding up petition will be served and the company forced to close.

it's to protect, employees, suppliers, hmrc etc.

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Imagine you owe money you do not have the cash to pay your debts, so someone takes you court.

 

You admit you have no cash but you do have a nice car and a house that you are trying to sell

 

Court says ok you have some time to get rid, so next day you sell car for a fiver and house for a tenner to a mate, no one gets repaid.

 

To stop this you tell the court your assets and you need their permission to sell them and they verify you are getting a decent price, other option is that courts agree a minimum you can sell for or that you can sell for whatever price you want as long as debts are repaid.

 

The court may also block you taking cash out of the bank which might explain not paying the staff.

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