Re: Winding up proceedings
 

No problem SM, I'm sure one or more of us will let you know what happens.

Re: Winding up proceedings
 

Thanks for the info!

Re: Winding up proceedings
 

This from Bulls News: Accrington's takeover is still on, according to the potential buyer - and current General Manager - Dave O'Neill. O'Neill is said to have put £150,000 into the club last summer to avert a previous threat from the taxman.

Not seen that before. :confused:

Re: Winding up proceedings
 

negotiations with HMRC

STANLEY SET OUT REPAYMENT PLAN | Coca Cola League 2 Football Transfer News, Football News, Fixtures, Results, Match Reports, Stats

Re: Winding up proceedings
 

Well im unable to attend the meeting tonight so would someone please fill in the details :)

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well I tried to get off work to go but alas am still here at my desk and just sneaked on here to give my apologies and will try to look on here again tomorrow to find out what was discussed and if any decisions have been made

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Long shot……..

Has anyone at the meeting got their laptop plugged in, can we have highlights please.

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You have to hand it to Bulls News - they always seem to know more about Accy than we do. :(

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update on fishy site

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Has anyone noticed this?

Creditors to get pittance from club (From The Northern Echo)

0.9p in the pound is the proposal. Might be worth a 10 point deduction. ;)

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Sounds great, but HMRC will not accept a CVA from a football club, they want the whole amount owed. Other creditors can accept this proposal, but I am pretty certain HMRC won't

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For a CVA to be approved it has to be accepted by I belive by 75% of creditors, the number of votes being decided by the amount owed. With the tax man being the major creditor anything less than 100% payment offer would I feel never get accepted.

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So are they in court tomorrow or not?
They must know by now surely

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No doubt we shall find out next week mate :rolleyes:

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No court appearance tomorrow, adjourned for a period of ten weeks, 12 month to pay off the debt, lets hope they keep the payments up eh

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From t' Telegraph
http://www.lancashiretelegraph.co.uk...reement_today/

Re: Winding up proceedings
 

Chees for the link :):)

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There's a more up-to-date update on the official site.

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Cheers TM :) Good news....


Club statement
Tuesday 9th Jun 2009
HM Revenue and Customs update
Accrington Stanley have today reached an agreement with HM Revenue and Customs that will see the winding up petition due to be heard at the High Court tomorrow adjourned.

The club have put forward proposals to clear the debt over the next twelve months, and HMRC are satisfied that the club are serious about clearing the debt and will continue to work with the club to that end.

Speaking about the deal chief executive Robert Heys said "We knew HMRC were only ever going to adjourn the hearing rather than remove the petition tomorrow, in order to give some time that will show that we can meet the initial payments going forward. We will do this over the coming weeks and months and look forward to a formal removal of the petition in the near future."

The club's legal representatives will attend the hearing to apply for the adjournment which HMRC's legal team will not oppose.

Re: Winding up proceedings
 

Just been on SS "Breaking News" that we have sorted it out, good interview given by Rob Heys.....

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where is the £30k a month coming from?

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Minor detail Rob:rolleyes::rolleyes::rolleyes:

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This is an excerpt from the 'Telegraph' article:

"It has to come from the budget within the club rather than cash from outside"

Re: Winding up proceedings
 

Relief for Accrington Stanley after HMRC accepts debt repayment proposals | Football | guardian.co.uk

Considering that its been anticipated a few days now the good news does not seem to be impressing players we need into staying.

I wonder why?

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Going off what was said on Friday night, we have to assume it is in the main FL cash. It may not be £30K per month,we may have paid off a lump, i.e. £150Kish and then pay £15Kish per month after that??? Yet another one we do not have the facts and figures to.....
When all said and done, this seasons wage bill will be smaller and many of the running costs will have been reduced - Jamie Speare - and we will not have those seats to pay for... :):)

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so, having worked this out ...

provided that the club can continue making the same revenue as last year ... and having reduced the wage bill by approx £300,000 .. and provided all those figures are correct ... then we should easily manage the debt?

fair do's then!

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The way that I am looking at it Macca is this, EW has been to see the taxman last year and told him how he was going to sort out the debt we had then, after the WUO being issued last week, I would have thought that when EW went to see the taxman last week that what EW had to say would have been triple checked for its validity this time!!! So in essence, if the taxman is happy:) then I am happy :):)

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well i aint happy Valarian, will the complete abscense of dialogue with the people who offer to help n the rank n file supporters.:(

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Sorry Cashy, not understanding that! :o:o Please explain :):)

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What Cashman means that the club/directors/chairman have not talked to the group of supporters or Ilyas in a meaningful way in how they could help overcome the situation we are now in. The club/directors/chairman have stated on a number of occasions they do not need outside intervention i.e. Ilyas putting in £250,000 because the strings attached were that a rights issue of shares had to be issued and that would mean Eric losing overall control of the club.

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Although Stanley is in my blood, being isolated down in Surrey (and shortly to move near to other Stanley fans on the south coast), I do not know the personalities involved. However, from a distance and with no antagonisms in my bagage, I venture to voice a few thoughts. 1) EW and the board obviously would want to manage the situation themselves if possible. 2) The situation cannot be entirely (if at all) of their own making. 3) If the proposed take-over is still 'on', then possibly it is not appropriate timing to be including Ilyas and an official fans' company. 4) Having said that, the club must recognise that fans involvement is much deeper than collective big money (gate receipts). As Cashy has intimated, the 'club' needs to be as touchy-feely with supporters as possible if the drift to B'burn/Burnley is to be stemmed. 5) Once the new fans' company is reality and pledges collected, there can be no excuse for the board not to say why they are ignoring / rejecting help, otherwise they don't deserve customers on a matchday. 6) At the moment season ticket holders may have paid to watch kids in Stanley shirts get hammered every week, so the Google Page Ranking machine needs to wake up and smell the coffee (thanks to whoever posted that super phrase ! ). Can I go back to sleep now ? - us old uns need it y'know ).

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Thanks for that :) I am only happy with the outcome of the taxman.... I am as unhappy as everybody else with how the "Club" ignore the "Fans" and "Supporters" :(:( Lets just hope that we will soon be seeing some changes....... :)

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only just come back but outback ozzy has pretty much explained it. cheers outback,:) just read the winding up has been postponed fer 12 months, so that "Should" be a good starting point, but pardon my cynicism, i doubt if it will.:rolleyes:

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Cheers Cashy :)

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Heys hails Accrington supporters

Published: 10/06/2009

Accrington chief executive Rob Heys has paid tribute to the "fighting fund" set up by supporters to help aid the cash-strapped club.
Club shareholder Ilyas Khan looks set to start the fund with £250,000, while Lancashire Telegraph columnist Stephen Lowe has volunteered to become a director of the new company.
Stanley were issued with a winding up order last month due to an unpaid £300,000 tax bill but the High Court hearing was adjourned after they put forward proposals to HM Revenue and Customs about clearing the debt over the next 12 months in instalments and Heys said: "It's been set up by a local businessman but how he'd like to distribute it is yet to be decided."
Speaking to PA Sport, Heys continued: "I think he's looking perhaps to alter the allocation of shares in the club so there's still quite a bit of talking to be done about how that will be used, but just the fact that it's there is encouraging.
"I think the club will get itself out of the situation that we're in and we've obviously shown that to the Revenue but it does mean cutting costs, and something like the fighting fund would help us because we wouldn't have to perhaps cut our costs quite as dramatically, so obviously any money that's coming into the club can only be a good thing for Accrington Stanley."

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wow, an acknowledgement of its existence!

somebody had to say something and I thought they would wait until a formal approach had been made. But the early signs are encouraging. :)

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Couldnt agree more, lets hope it moves forward with a little more urgency on the Clubs part. Because,lets be honest, the sooner the club is back on an 'even keel' the better for all,players.management and fans. Feeling quite a bit more optimistic now :):D:)

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No problems Cashy:D

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Nice to see that the club knows we are hear, and lets face it, if Rob Heys is talking about it, then Eric is aware fully of it and must in his own mind know it is a way forward, or we would have had the flippant "We don't need anybody else's cash - we can sort it out ourselves" :rolleyes::rolleyes::rolleyes: A possible break through :):) Onward and upward :):):)

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Or it could just be £££ they see, it's always clever not to upset your boss or your new boss.;)

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A further incentive to keep up with tax repayments this year -
The Football League | News | Football League | FL News | CLUBS APPROVE NEW TAX REGULATIONS

.... and Eric (or someone) gets to pay for 7 on the bench, if we have them. :)

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That'll usually include two spare keepers won't it ......

oh ......

perhaps not! :confused:

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I've heard Coley and Jimmy Bell are back in full training ............ mainly because we can't even afford the seats. ;)

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Noooooooooooooooooooooo!! :eek::D:eek:

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Says once necessary practical arrangements are made any club that falls behind with employee related payments to HMRC.

I take that to mean Stanley are free of embargo so long as the club keep up with the agreed arrears instalments and future payments but it would be nice to have that confirmed..

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The way I read this thing with HMRC from the football league was if clubs were in administration and the HMRC was a major creditor. But if a club has a debt but have offered to pay back over (in our case) 12 months then shouldn't be a problem, providing they keep up repayments. I may be wrong though and if someone from the FA is reading please do put us all out of our misery.

:enough: