If the Richardsons remain then, after over 25 years, i'm done with club. I want no association with the current regime, they have brought my club to its knees. If they block this one chance of progress just to feather their own nests then its just proves them to be the lowlife we know they are.

Ted & Co. if you do read this forum, GET OUT OF OUR CLUB NOW AND DON'T COME BACK.

Sorry if you felt I was patronising - certainly wasn't intended.

The £350k was roughly what had accrued to HMRC during the period between the last winding up petition being lodged in July & SRW paying it off in November. This was the amount covered by the agreement that HMRC ripped up a couple of weeks later.

The £150k difference will mainly be the further amount that has accrued since November. Yes, some of the £500k will be for other creditors and/or provide a bit of working capital, but the majority of what is owed by the club is owed to HMRC.

I know they do, but that usually requires the directors to have money to put into the new company - which Ted doesn't!!!

I know Ted doesn't but others have.

It may be for you mate, but spare a thought for the suppliers who are going to end up with jack s**t!!! and are told they won't get any money

There might be, if the agreement contained clauses that rendered it void or voidable should the club enter into any form of insolvency - not uncommon - I write such clauses into every contract I draw up. That said, I would doubt it would be in the chargeholder's interest to want to change anything for 2011?

rlThe pre-pack at Wrexham/Crusaders meant the previous ones remainedrl

Your right it's bad news, but let's be 100% honest if it was cas you wouldn't give a flying , would you?
Taking the moral high ground is ok if your pontificating!!!
And by the way the doesn't mean taking a dump in ponte, you muppet!!

What goes around mate,

Booked to go to Cardiff and will go cos of the money we have spent. I have a season ticket but if the current regime remain in charge in any way after administration then I don't think I could face going knowing full well the club will never move forward. I find it hard to believe that in one breath somebody can ask Joe Bloggs for half a million and then set up again in another guise and think that the supporters would support it. I really do think people will vote with their feet. Never been as fed up as a Wakey supporter.

Good point. Don't think it'll come to that, but I completely agree with the sentiment.

i think we must be the only shareholders (and fans) who are hoping that a company goes into administration!!!

bring it on and lets move on.

fingers crossed is parkin. and if so ferris. he is just what we need at this moment in time.

Reading your last post and this I would hope that all Wakey fans pray for the wind to change before Monday!

Bear in mind that any pre-administration discussions can only take place with the prospective Administrator. But also bear in mind that it is common for an insolvent company to have been working with an insolvency practitioner (or firm) prior to the formal act of insolvency. Also, pre-pack deals invariably reflect the business assets etc being sold on to a new entity, but the company itself remains in administration - at least until the administrator secures a discharge and a liquidator is appointed.

Otherwise, you are not far wrong with your (albeit simplistic) summary. Pre-packs are all set up before the event, ready to rock as soon as the Administrator is appointed.

My personal opinion is that they are used far too often as a means for the existing management to free the business of debt and screw the creditors, and for that reason I hate the bloody things. But there are counter arguments, and a couple of years ago I attended a seminar given by one of the pre-pack pedallers that put forward some fairly persuasive such arguments.

This is a real worry; Ted has appointed the administrator (O'Hara's) and potentially, got a sympathetic investor on board. In theory he could go into admin with a pre-pack all ready to go, work with the sympathetic investor to buy the club out of administration and hey presto - WTW is reborn, as dysfunctional and hopeless as before, with Richardson tendrils all over it.