Surely it's up to the 'skint' directors to initially stop us from 'folding', else why be a director - unless you just like the title.

Even though i am working in the morning Ste, i wish i had come with you, i have now run out of ale.

I wish I had before I got this news... some may disagree but I wanted to put it out there and I take full responsibility for that.

It has made for an interesting evening.

I am sure you were right to put the info out. There seems to be a deafening silence from all concerned with the club and has been for weeks.

Wrong mate.

Crown Preference was abolished by the Enterprise Act 2002. HMRC is an unsecured creditor like pretty well everyone else. See my post a few posts back.

Employees ARE preferential, as I said earlier too, but there are time and value upper limits.

Don't forget creditors secured by a mortgage or other fixed charge get paid out of the realisation of their security, with any shortfall being added to unsecureds. And a landlord can still distrain on goods for unpaid rent IIRC.

Please please be careful about fraudulent preferences. HMRC will be very alive to the risk, which is why they are unlikely to accept a settlement in preference to other unsecured creditors if there is any risk of reclaim by a subsequent liquidator. Remember too that HMRC (i.e. the taxpayer...) is sick and tired of sports clubs falling over, with the only two big unsecured creditors usually being them and the owner. Its hardly surprising they are being as aggressive as they currently are in this arena.

What amuses me in all tonights ramblings is that it came from a member of the playing staff to a passionate fan who disclosed what had been said - it could all be a complete wind up and someone is laughing their cock off as I type. Goodnight Folks.

I think you have done the right thing Dave.

If the taxman has called it in then surely it is hours and not days and weeks?.

I thought the expression was 'laughing their socks off'?

I may be wrong but after the employees which you correctly state HMRC will have the luxury of secured creditor status along with the bank or banks. After that there won't be anything but bones to pick from.

Sad times indeed but as stated above let's not hit the panic button. Let's wait for official word from the club they did promise transparency and seemed to have a business plan in place so let's keep calm.

Reality is finally here we are in serious trouble but we've been here before and the challenge is there for us all to come together and grasp.

To the person who is trying to rally troops to raise cash with buckets in the town centre I pledge here and now raise a thousand pounds this weekend and my business will match it.

I also will pay up front for membership of Lisa if anyone can give me some contact details or who I need to contact etc.

Let's come together.

I've signed up tonight and will join LISA if someone can let me know how.

Hope your right.......

I went pictures tonight, Steve saw this stuff on here and went pub, when we got back in we decided to open a bottle of fizzy wine (a nice one, but only because we had nothing stronger) and as Steve opened it it exploded all over this laptop, so Dave Parky if it dies now, its all your fault. Its bl00dy sticky, waste of good wine too.

Quote: concerned leyther "I may be wrong but after the employees which you correctly state HMRC will have the luxury of secured creditor status along with the bank or banks. After that there won't be anything but bones to pick from. Sad times indeed but as stated above let's not hit the panic button. Let's wait for official word from the club they did promise transparency and seemed to have a business plan in place so let's keep calm. Reality is finally here we are in serious trouble but we've been here before and the challenge is there for us all to come together and grasp. To the person who is trying to rally troops to raise cash with buckets in the town centre I pledge here and now raise a thousand pounds this weekend and my business will match it. I also will pay up front for membership of Lisa if anyone can give me some contact details or who I need to contact etc. Let's come together. I've signed up tonight and will join LISA if someone can let me know how.'" click on www.leigh-isa.org.uk and follow links print off form, fill it in send it to 120 st helens road leigh mate

Quote: concerned leyther "I may be wrong but after the employees which you correctly state HMRC will have the luxury of secured creditor status along with the bank or banks. After that there won't be anything but bones to pick from. Sad times indeed but as stated above let's not hit the panic button. Let's wait for official word from the club they did promise transparency and seemed to have a business plan in place so let's keep calm. Reality is finally here we are in serious trouble but we've been here before and the challenge is there for us all to come together and grasp. To the person who is trying to rally troops to raise cash with buckets in the town centre I pledge here and now raise a thousand pounds this weekend and my business will match it. I also will pay up front for membership of Lisa if anyone can give me some contact details or who I need to contact etc. Let's come together. I've signed up tonight and will join LISA if someone can let me know how.'" click on www.leigh-isa.org.uk and follow links print off form, fill it in send it to 120 st helens road leigh mate

Welcome aboard Pal, hopefully we can all do what we are able to do, soon.

Leythers are best when the backs at the wall and the scrap is in front of us.

No.

The directors are required to do their best to run a solvent business. However, as soon as they become aware (or should have become aware) that the business is, or may become, insolvent, then they have to take what steps they can to minimise any loss to creditors and protect the interests of the various stakeholders. In particular, they must not continue trading if the business is insolvent since that is a crime and something for which they can be made personally liable.

Directors have no legal responsibility to inject funds into an insolvent business to try and keep it in operation. If they did, no-one would ever take on the role.