I dont think he want much more involvement in the club after this season,i believe he has little interest in financing part time rl.The problems that the club have now are DBs problem and its up to him to sort them out.It'll be at that point the club can start sorting itself out.

The fans should not be asked to put money into the club until all this season financial problem have been dealt with

Derek Beaumont gave these contracts so he should honour them before he walks away and let Leigh start again there just in limbo at the moment because of him

What a mess DB has got them into. He ought to honour those contracts and walk away but I suspect he has made massive loans to the club and he doesn't want to write those off. That's the sticking point.

I can see administration being the only option.

Me too.

Is administration an option when you actually have the capital available to pay off the creditors but just don't want to?

Quote: Nothus "Is administration an option when you actually have the capital available to pay off the creditors but just don't want to?'" I think actually DB would have to close the business. Guidance here: https://www.rapidformations.co.uk/blog/ ... y-company/

Quote: Nothus "Is administration an option when you actually have the capital available to pay off the creditors but just don't want to?'" I think actually DB would have to close the business. Guidance here: https://www.rapidformations.co.uk/blog/ ... y-company/

So you weren't spot on then were you...

Presumably the distinction is whether funds are there for 'Leigh' to honour those contracts, or if the funds belong to Beaumont? If 'Sporting Club Leigh Ltd' can afford to pay, then it simply becomes a contractual dispute between the players and the club. It's hard to see if that's the case given that the business accounts for Sporting Club Leigh Ltd rlare more than a month overduerl.

The the ability to pay the players is contingent on another injection of cash from Beaumont (ie a director's loan) that isn't forthcoming, then as the link from Bullsye says, he has three options - sell, appoint a new director or wind the club up.

My gut feeling is that there is an element of brinkmanship to this and Beaumont is pressuring the relevant parties to agree to an arrangement. If the club were to fold, the two players in question would face a protracted and expensive legal battle to most likey end up with the square-root of Jack.

I'm just basing things on the quotes from DB in the article.



That makes it sound like the central funding can cover the liabilities but wouldn't leave them with much to build the rest of the squad.

Monies owed to employees are taken out of the pot before preferential creditors such as the crown or the banks who own debentures. However, the last accounts show that Leigh are massively insolvent so there is no money to pay any debts. Even if DB was to write off the money owed to his other company, Leigh are still insolvent. (This is all based on the 2017 accounts by the way, the 2018 accounts are overdue and I doubt they will get filed anyway)

As you say employees are preferential creditors but they come second in line to secured creditors (and the insolvency practitioner).

My mistake! Thanks for the correction!

Wow 80k a year. Heard Widnes want him