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Wanderers Ways. Neil Thompson 1961-2021

Bury


gonzo

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1 hour ago, Leyther_Matt said:

Company Voluntary Arrangement so essentially making an offer to creditors to pay them back x amount in the pound. Nowt to do with administration.  

Is that not an insolvency situation within FL rules?

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41 minutes ago, Casino said:

Is that not an insolvency situation within FL rules?

It is indeed. 

‘Insolvency Event’ refers to any one of the following:

a)

entering into a Company Voluntary Arrangement pursuant to Part 1 of the Insolvency Act, a Scheme of Arrangement with creditors under Part 26 of the 2006 Act, or any compromise agreement with its creditors as a whole;

However, as the current chairman has applied for the CVA, I doubt he gives a fuck about the footballing sanctions given he’s been happy enough to see the manager and players walk out. 

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