That is a bitter statement if ever I saw one! Business is business and whether the new owner is able to reach agreement with the major creditors (well, it is HMRC) or not is between them. A deal will be down to (mainly) HMRC and this is just the nature of business. Equally it would be irresponsible of any new owner to burden a new company with excessive debt that they don't need to carry if administration would be a better option. It is praiseworthy that 'they' are looking at doing a deal with HMRC, whether it comes off or not!

Companies House info

WAKEFIELD TRINITY RUGBY LEAGUE FOOTBALL CLUB LIMITED02623391
Exact CCJ Details
Date Court Amount Status Case Number
27/01/2011 BRADFORD £3,374 Judgement 1BD00025

I doubt my Uncle Bill would be able to do that...

In a perfect world no-one wants to see anyone lose any money- it's not just businesses it's fans too . At the supporters trust meeting , Ian who was hosting the meeting ,said that in the event of administration he would lose his shares & player sponsorship money of which he's already paid .
But as someone taking over you're going to want the business as cheap as possible - the fans don't care either way , we're just praying for a new and hopefully positive era for the club .

really .. i mean really ?????

Yes its as simple as that , unless of course you happen to be one of the poor sods that loses money, while the club starts to prosper (hopefully for the supporters). The whole admin process is a disgrace allowing companies to default and just walk away scot free

So you are not bitter at all then and you just think that whole of UK Company law clearly needs a serious overhaul?

So what would your suggested options be on changing the law on administration and liquidation of companies be exactly? A government regulated national insurance scheme perhaps... oh, wait, we have one of those already! Compulsory instead of optional credit insurance is one other option but generally it felt that would just feed the insurance industry and cost the economy more than benefit it as it would discourage business start-ups?

Please share your wisdom on the subject that successive governments (of all parties) have been unable to solve... till now maybe?

Quote: thetruth "Yes its as simple as that , unless of course you happen to be one of the poor sods that loses money, while the club starts to prosper (hopefully for the supporters). The whole admin process is a disgrace allowing companies to default and just walk away scot free'" www.insolvency.gov.uk/ There you go --- go tell them!!!!

Quote: thetruth "Yes its as simple as that , unless of course you happen to be one of the poor sods that loses money, while the club starts to prosper (hopefully for the supporters). The whole admin process is a disgrace allowing companies to default and just walk away scot free'" www.insolvency.gov.uk/ There you go --- go tell them!!!!

I wish we knew SOMETHING by now!!! a press conference booked for tuesday?/wednesday? the report in the people hasnt even been confirmed/denied... I thought it was going to done quickly? this is like pulling teeth...
101 guests online and still no news...

TheTruth and wisdom? Words never associated before!!!!

Bitter much?

The process of administration is far from a perfect system, but it's the only one we've got; that being the case, I'd worry about the business acumen of any new owner who didn't use a perfectly legal process in order to unburden the club of debt prior to taking ownership.

Your respose has answered my rhetorical question by the way.

Cas should be celebrating if we go into admin as it could be used as the tiebreaker if both our bids stack up the same.

Its not at all, its to encourage new businesses to start up without the risk of losing everything. Without the laws as they are we would not have new companies starting up, so no more jobs created and in turn no extra income to the economy, and then nothing to export, and so on and so forth.

Sorry if this is a bit difficult for you to understand, but if you would be happy to be on the dole and the government not having enough money in reserve to pay your dole, hence you not receiving any money, then continue with your lovely left wing views, and go and join the eastern block in their communism.