CVA Article

[Windsor Rebel]

I assume you guys have seen this....

 

http://www.windsorexpress.co.uk/sport/article-19601-time-ticking-away-for-royalists-as-melvin-wins-claim/

 

 

Windsor & Eton’s home game with Tiverton Town on Saturday could be its last as next Wednesday’s winding up hearing at the High Court draws ever closer.

 

Her Majesty’s Revenue & Customs (HMRC) have submitted the petition against the club due to an unpaid tax bill which stretches back over five years and totals around £60,000.

 

The Royalists have already been given two extensions by the court in recent months as they look to stay alive but another stay of execution looks unlikely.

 

The club had hoped to inform the court that they were entering into a Company Voluntary Arrangement (CVA) but that will now not happen as the process has yet to be started.

 

The club’s insolvency expert Robert Keyes did not get the relevant documentation in time from chairman Peter Simpson to be able to call a creditors meeting.

 

It leaves the club with only two real options, find someone to pay off HMRC in full or be wound up and start again in a lower division.

 

Potential new owner Kevin Stott said: “Our backs are up against the wall and there aren’t many ways out of this. All our cards have been played.

 

“We’re still working hard but it could be our last game. I hope it’s not, but it could be”

 

Meanwhile former Royalists coach Jim Melvin won his claim for unfair dismissal and breach of contract against the club yesterday (Wednesday).

 

Melvin, 52, of Bagshot, claimed chairman Peter Simpson fired him unfairly and also owed him unpaid money in wages, bonuses and expenses.

 

The employment tribunal hearing in Reading awarded Melvin close to £11,900, including compensatory awards.

 

The football club was also slammed at yesterday’s hearing for failing to follow the correct practices.

[sparksy]

No surprise really! Its hard to see the club going beyond next week!