HMRC issue winding up order

[zaza123]

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!

 

There is a distinct possibility that they could lose more than money. Who will Glenda get to pay his security bill now?

[Isle of Man Vale Fan]

The most sickening thing about all of this....... IT COULD HAVE SO EASILY BEEN PREVENTED!

[brookersleftboot]

Just a feeling i have, but i think with the board backed massively into a corner a certain local businessman may just be making a last chance solution.

 

Not heard anything from anybody, just a feeling i have.

[JOHNNYAITCH]

There is a distinct possibility that they could lose more than money. Who will Glenda get to pay his security bill now?

 

Not sure they will really lose any money..depends how much they have taken out of the club for themselves over recent months whilst the ship was sinking

[Richard...]

Just a feeling i have, but i think with the board backed massively into a corner a certain local businessman may just be making a last chance solution.

 

Not heard anything from anybody, just a feeling i have.

 

Mo Chaudry would b ideal.

[pete vale]

Rest assured they've looked after themselves

[Isle of Man Vale Fan]

Just a feeling i have, but i think with the board backed massively into a corner a certain local businessman may just be making a last chance solution.

 

Not heard anything from anybody, just a feeling i have.

 

Doubt it. The amount of debt we are in is unbelievable. Why would he come in now to pay off all the bills that MOLD have accumulated?

[Aussie Rules]

There is a distinct possibility that they could lose more than money. Who will Glenda get to pay his security bill now?

 

For all we know he could be self funding his personal security arrangements :rolleyes:

[cheeky]

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

 

We're not, which means in the first instance, we cannot put ourselves into admin. The Council can, but whether they can now HMRC have made the application I don't know. The Court can, I suspect, but a CVA brings you our of admin doesn't it, and I seem to remember their being problem in the past with clubs not being able to come out of admin with a CVA because HMRC were never agreeable to it.

[tobert1985]

Just heard from a bloke at work so not sure of the sources, but apparantly the council will act on behalf of Vale and place them in admin before the end of play today, it will be a council apointed admin to secure the best deal for them and HMRC, even tot he end it seems the desperate board didnt have the bottle for themselves, the 300k is to cover costs and implications of the loan on VP i believe and word is the council feel there was to much to lose by allowing Vale to go on, feel free to poor scorn on this post Tin HAt is on

[Richard...]

Your sources are correct Sir.

[scooby2]

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::(:(

:cry:

 

Really gutted by this news, especially as I never got to go to their home ground.

[boomer's vet]

This can't be real.

[/i]

 

Of course it can be real and it was always going to happen. The board have totally failed and Chaudry should have been in 18 months ago, but anyone supporting Starve 'Em Out etc are deluded if they didn't think it would come to this!

 

We gambled with the existence of Port Vale for a better future, now let us hope and prey (figure of speech, I'm an atheist) that we're left with a football club at the end of this.

 

If we don't, I won't blame any fans, it lies solely with the board, I've seen what it means to people and I know whatever stance Vale fans took in the past 18 months their intentions were as positive as any other Vale fans.

[Santa]

75% of creditors have to vote through a CVA. If HMRC's debt is less than 25% of the total debt then they can't veto it on their own.

[VantaaVale]

Just a feeling i have, but i think with the board backed massively into a corner a certain local businessman may just be making a last chance solution.

 

Not heard anything from anybody, just a feeling i have.

 

Mo has posted today on Facebook that he is keeping a very close watch on events.

 

The board is crippled and cannot just take the club into admin and there may not be enough time to get voting slips out for a fourth director. In any case, could you see them voluntarily putting the club into admin and writing off their shareholding? I can't.

 

So drastic measures need to be taken to prevent the club being liquidated. Obviously they will take a loan from anywhere to avoid admin, but if someone was daft enough to loan them money then it's staving off the inevitable.