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Club Statement

Press Officer

By Press Officer
in Hornchurch Forum

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Press Officer Newbie

Press Officer

Posted
Posted

Thursday 28th April 2005

 

A meeting of Creditors (minus the Inland Revenue) of Hornchurch Football Club Limited today voted overwhelmingly to support the Clubs application for a Creditors Voluntary Arrangement. The Inland Revenue have however indicated that they are not happy to proceed on the terms laid out to them and have therefore summarily rejected the application.

 

In a further development, George Borg threw his vote behind Hornchurch Football Club Limited. Lloyds Discount Finance, who had joined in Mr Borg's petition, also voted for the scheme. Both parties have consented to a withdrawal of the petition.

 

The meeting today was therefore adjourned leaving the status quo intact. The Inland Revenue now have the option of joining in with the scheme overwhelmingly voted for by the other Creditors or taking the lone action of applying to the Court for their own winding up order. The Clubs advisors in the meantime will continue to communicate with the Revenue to attempt to find a mutually agreeable way forward.

 

Hornchurch Football Club wish to thank all the parties who united behind them today and in particular would express their sincere thanks to Mr Borg for supporting the applications today and for agreeing to the withdrawal of the petition.

 

 

Ends.

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YELLOW Newbie

YELLOW

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Posted

I didn't think the points deduction for teams that went into administration operated below the Conference.

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urchinboys Newbie

urchinboys

Posted
Posted

This is all I can find re points deductions (but I haven't got the rule book!!)

 

5.3 If any club completes the playing season in 2004/2005 in the 1st, 2nd, 3rd, 4th, or 5th highest positions in Conference North and Conference South on or after 5thJune 2004;

 

· have a manager, receiver, or administrative receiver appointed in respect of that club or any part of its undertaking or assets;

 

· have an administration order made in respect of that club;

 

· [color:"red"] [/color] then that club shall, immediately after the club’s final Conference North or Conference South championship fixture (excluding Play-Offs and Play-Off Final), automatically forfeit sufficient points to ensure that they shall attain a final Conference North or Conference South position immediately below that which would otherwise have rendered them eligible to participate in and qualify for promotion through the Play-Offs and Play-Off Final and/or automatic promotion the Football Conference national competition as champion club.

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Uncle Urchin Newbie

Uncle Urchin

Posted
Posted

the club have been deducted 10 points and the deduction is the correct procedure under the rules. Although the club has neither entered into a cva or administration it has given notice to the courts and the league that it does intend to enter into a cva....it did so to protect itself from the winding up petition lodged at the high court..

 

that is sufficient for the immediate 10 point deduction....if the cva is avoided then the points are given back...the club will not be appealing against the leagues decision... <img src="/forum/images/graemlins/grin.gif" alt="" />

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