The proposal to pay 2.5p in the pound for all debts failed, spelling the end of the road for the club.

Keep up to date right here with the latest developments as they happen.

10am
Chris Wilder has pinpointed mistakes made in the two years before he was appointed manager in 2002 as the cause of Halifax Town's ultimate demise. Click here for the full story

9.30am
Halifax RLFC bosses will seek urgent talks with Calderdale Council later this week to discuss the management of the Shay Stadium. Click here for the full story.

Monday - 8.20am
Defiant Halifax supporters have held an emergency meeting to resurrect a football club and restore some pride in the town. Click here for the full story

Saturday - 11am
Administrator Rob Sadler offered fans some hope of keeping professional football alive in Halifax in the form of a fans' run club.
He said: "We have no tangible assets so there would be nothing to stop the supporters trust, for example, approaching the Shay Stadium Trust and saying they would like to be the team that plays here."
Click here for the full story.

Saturday - 9am
Town boss Chris Wilder has spoken of his devastation that the club looks set to fold.
But he said he would leave the club with no regrets about how his side had performed on the pitch. Click here to read the full story.

Friday - 2.35pm
Halifax Town appear to be heading for liquidation.
Administrator Rob Sadler told the Courier's Dave Fletcher today the debt to the Inland Revenue appeared insurmountable.
Initial estimates had put the amount Halifax Town owed at £500,000 - but the meeting was told the figure was around £814,000.
He said this was likely to mean the end of the club.
"The cleanest way forward is to start from the bottom and build up again debt free."

1.35pm
Former chairman Geoff Ralph has just been called back to the meeting.

1.05pm
The meeting has resumed.
A progress report is thought to be underway with the club's situation over the Inland Revenue.

12.40pm
The meeting has now broken up for lunch. Due to resume at 1pm.

12.10pm
Talks are continuing into the afternoon which is pushing time limits to the brink.
Earlier indications from administrators suggested a decision either way would be known by lunchtime.
If a deal is struck the necessary paperwork has to be completed today to meet deadlines set by the football authorities.

11.35am
Sponsorship in lieu of cash was turned down by creditors holding out for 10p in the pound, reports Brian Coates.
Businessman Gary Pearson was contacted by an intermediary on behalf of administrators this morning.
He runs Jacamast Ltd, of Huddersfield, and is owed £193,000 following work on the half-finished east stand.
"They were hoping to get something in place and I've been asked if I would accept sponsorship but I won't for that money," he said.
"We feel 10p is still a poor offer. We have to draw the line and that is where we are drawing the line."
Mr Pearson's stance is backed by Roy Barnett who is owned a similar sum for work on the stand.
"Sponsorship might not be worth anything," said Mr Pearson.

11.30am
Geoff Ralph, who left the meeting at 11.30am, told the Courier's Dave Fletcher talks were progressing but could take some time. A sticking point is understood to be how much was owed to the Inland Revenue.
It is thought two votes will be taken on any rescue package proposed - the first where 75 per cent of creditors need to agree and the second where a simple majority was required but only among creditors not directly involved with the club.

10.40am
As administrators frantically try to save Halifax Town this morning a major creditor refuses to compromise, reports Brian Coates.
Roy Barnett is owed nearly £200,000 and insisted he receives 10p in the pound rather than the 2.5p offered on Wednesday.
Speaking to the Courier 30 minutes into the 10am meeting he said: "The last I heard was there might be a short adjournment for a couple of hours to try and get the dividend increased.
"My position has not changed.
"I get £20,000 or I don't get anything. There is no room for negotiation.
"However they want to do it is up to them but at the end of it I get my £20,000.
"I believe they are still trying to do it."
His company R. M. Barnett Ltd, of Huddersfield, was involved in the building of the half finished Shay east stand.

10.15am
The meeting has now begun, reports Dave Fletcher from the Begbies Traynor offices in Leeds.
Halifax Town general manager Angie Firth, former commercial manager Andrew Pinfield, advisor Chris Yewdall and former chairman Geoff Ralph turned up and it is understood much of the negotiations with creditors may be carried out on the telephone.
Major creditors including Jacamast Ltd and R. M. Barnett Ltd were not present.
Halifax Town manager Chris Wilder was understood to be holding talks with players at the Shay at the same time.

Friday May 9 - 9.00am
Halifax Town officials and creditors are making their way along the M62 to the Leeds offices of administrators Begbies Traynor for the adjourned creditors' meeting.

Proceedings are due to start at 10am with the future of the club in the balance.

The first meeting on Wednesday had to be abandoned when major creditors refused to accept 2.5p in the pound in settlement of debts.

Instead, they demanded a minimum of 10p.

Administrator Rob Sadler now has to persuade potential new owners to increase the offer which would take their total outlay for taking control of the club to around £800,000.

Without an agreement, the club will fail to gain membership of the Blue Square Premier League for the 2008/09 season, and could face liquidation.

Keep up to date with the day's developments right here.

Thursday - 12 noon
Halifax Town today stands on the brink of disaster, with the threat of liquidation hanging over the club - Brian Coates reports in full on yesterday's creditors' meeting. Click here to read.

Thursday May 8 - 9.30am
Halifax Town could face a local derby with Brighouse Town next season if the consortium bidding to buy the club and creditors fail to agree on a deal by lunchtime Friday, reports Dave Fletcher.
Click here to read the full story.

Wednesday May 7 - 12 noon
The meeting broke up just before noon without agreement. It has been adjourned until 10am on Friday.

The consortium wanting to take control of the club are now being asked to up their offer to 10p and administrator Rob Sadler warned there were no guarantees.

It would mean businessmen David Bosomworth, Bobby Ham and Stuart Peacock would have spent £800,000 to take control of the club and a commitment to fund ongoing losses running at up to £30,000 a month.

Only a handful of creditors turned up personally to the creditors' meeting held at the Shay in the Weaver's restaurant.

It was adjourned until 10 am on Friday to the Leeds offices of administrators Begbies Traynor.


11:00am
An hour on, the creditors are still locked in the meeting.

10:15am
A major creditor of Halifax Town threatened to reject a 2.5p in the £ offer being put by administrators today.

Click here for the full story

8.30am
A CREDITORS' meeting was being held today for those owed money by Halifax Town.

The proposal from administrators running the football club is for creditors to accept 2.5p in the pound in full settlements of their debts.

A vote will determine whether it is accepted, rejected or adjourned.
"It could be concluded or adjourned for a short time but it needs to be sorted quickly," said administrator Peter Sargent, of Begbies Traynor.

If the offer is accepted the administrators will sell the club to a consortium of businessmen by the weekend.

That deadline has to be met for club to be considered for membership of the Blue Square Premier League next season and a decision on that will be taken at the Football Conference annual meeting on June 7.

Halifax Town avoided relegation from the league on the last day of the season last month after suffering a 10-point deduction for being placed in administration. It has debts of £2 million.

Visit this page throughout the day to keep up to date with all the developments from the creditors' meeting.