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Old debts may sink Halifax Town

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Published Date: 09 May 2008
OLD debts could tip Halifax Town over the edge today and put the club out of business.
A creditors' meeting on Wednesday was adjourned to the Leeds offices of administrators Begbies Traynor.

Most recent creditors may have accepted the 2.5p offer in settlement of debts proposed by the consortium wanting to take control of the club but long-standing creditors refused.

Hundreds of thousands of pounds are still owed from a previous company voluntary arrangement from 2003.

It was pressure from those creditors which led to the adjournment and now the consortium is being asked to find 10p in the pound to strike a deal.

"The older creditors are digging their heels in and it really is on a knife-edge," said administrator Peter Sargent.

A deal has to be found today to meet football rules otherwise the club faces demotion and possible liquidation.


  • For the latest news on the meeting follow the Halifax Town Clockwatch - click here. Full report and reaction in tomorrow's Courier.


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  • Last Updated: 09 May 2008 9:38 AM
  • Source: Evening Courier
  • Location: Halifax
 
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ricky_fatton,

Lee Mount 09/05/2008 10:00:06
Close it and start a-fresh with no debts or ties!
2

,

09/05/2008 11:58:15
Comment Reported Unsuitable By User
3

Barry Leotard,

09/05/2008 12:00:29
Who in their right mind will give credit to Halifax Town? ever again?
4

Calder Man,

09/05/2008 12:11:32
*Please enter your comment*
5

Calder Man,

09/05/2008 12:11:50
I'll give Hx Town credit - for getting away with it so many times in the past.
6

OMP,

09/05/2008 12:14:25
It is so easy for vicroad to say close it, what about the fans who have no control over the financial mismanagement in the past, he wouldnt say that if it was his local pipe and slippers club in jeopardy!!
7

Lunchbox Len,

09/05/2008 12:37:24
vicroad... once they have closed it, the kids that have nothing better to do, should we send them round your house?
8

Lunchbox Len,

09/05/2008 12:38:22
vicroad... once they have closed it, the kids that have nothing better to do, should we send them round your house?
9

,

09/05/2008 12:59:07
Comment Reported Unsuitable By User
10

,

09/05/2008 13:01:13
Comment Reported Unsuitable By User
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