HMRC issue winding up order

[portvalemarket]

Pompey fan here - The same thing happened to us a couple of weeks ago and is pretty normal procedure for HMRC when they've not been paid.

This essentially stops PVFC from trading - bank accounts are frozen and the club is unable to enter into any contracts.

The only two options now are to pay off HMRC and get them to withdraw the winding up petition or go into administration.

 

The latter actually stops the winding up petition and gives a court appointed administrator an opportunity to try and find someone to take over the club and come to an agreement with the creditors(which is where we are now, again...)

 

Admin is imminent IMHO. Good luck.

 

 

 

 

so if bank accounts are frozen will any of the players ever get paid?

[cheeky]

Pompey fan here - The same thing happened to us a couple of weeks ago and is pretty normal procedure for HMRC when they've not been paid.

This essentially stops PVFC from trading - bank accounts are frozen and the club is unable to enter into any contracts.

The only two options now are to pay off HMRC and get them to withdraw the winding up petition or go into administration.

 

The latter actually stops the winding up petition and gives a court appointed administrator an opportunity to try and find someone to take over the club and come to an agreement with the creditors(which is where we are now, again...)

 

Admin is imminent IMHO. Good luck.

 

Would you be allowed to go into voluntary administration once the application is made by HMRC though? Or do the Court have to decide and appoint an administrator at the application/winding up hearing?

[JOHNNYAITCH]

Have to admit that as an exile I am sitting here at my desk in Bournemouth physically shaking at all of this; combination of anger and nervousness.

 

Am in Burslem this weekend but can't get to Accrington so I will pay a visit to Vale Park at some point; won't do any good I suppose but will feel better to at least see the place

 

:(:(:unsure::(:(

[VantaaVale]

The directors all need to resign immediately and let's see if money can be found to pay off HMRC.

 

No excuse for this. They were warned.

[Stevo]

I hope they get everything they deserve come at them in one big **** storm for what they've done. Doesn't the Companies Act nail them for their lack of responsibility to employees, customers, suppliers and shareholders?

 

****** vandals that couldn't be trusted in charge of a ****** whelk stall.

[the old bycars tea bar]

i thank our pompey friend for his post above and his good wishes

 

when this **** settles i would like the SC along with other clubs up and down the country to campaign to stop this happening to other poor football fans up and down the country

 

the fit and proper test being the starting point and accountability of those who fleece the local community and their football clubs being the other

[tokyovaliant]

Pompey fan here - The same thing happened to us a couple of weeks ago and is pretty normal procedure for HMRC when they've not been paid.

This essentially stops PVFC from trading - bank accounts are frozen and the club is unable to enter into any contracts.

The only two options now are to pay off HMRC and get them to withdraw the winding up petition or go into administration.

 

The latter actually stops the winding up petition and gives a court appointed administrator an opportunity to try and find someone to take over the club and come to an agreement with the creditors(which is where we are now, again...)

 

Admin is imminent IMHO. Good luck.

 

Cheers for the info Jonno - midnight here - hopefully can sleep easier after reading that. Hope the morning brings better news.

[Andyregs]

All because they didnt want an Asian as director. *******s!

[Trampilot]

Ok - admin isn't a possiblity - not enough directors.

 

Vale have no money and all accounts are frozen. Nobody wants to give them money - quite rightly.

 

So, and if any more proof were needed how rubbish MOLD have been, a real possibility is an actual winding up.

 

UNLESS the board pay the bill: MOLD - time to remortgage those houses.

[Bycars Ender]

All because they didnt want an Asian as director. *******s!

 

Because Bratt's a racist and had a personal vendetta afgainst Mo - Bratt you are scum of the highest order.

[BycarsLane]

All because they didnt want an Asian as director. *******s!

 

The only positive I can take from this news is that Mike Lloyd and Glenn Oliver stand to lose around £200,000 between them. They deserve to!

[Spunk Trumpet]

All because they didnt want an Asian as director. *******s!

 

Exactly Andy.

 

Others need to hang their heads in shame as well.

 

You were all warned this would happen.

[BIRCHES HEAD WHITES]

Would you be allowed to go into voluntary administration once the application is made by HMRC though? Or do the Court have to decide and appoint an administrator at the application/winding up hearing?

 

we're not quorate currently though so cannot apply for a cva .

[JOHNNYAITCH]

I sincerely hope that the recent resignation from the board was not done out of spite to ensure that we could not go into administration!!!!!

[Richard...]

Let's not turn this into a Civil war now, we can't turn back time and we now need everyone pulling in the same direction and hopefully getting Mo in.