Link: Oldham faces wind-up
The decision to defer, which took place last week, will leave Wimbledon FC and other clubs in uncertainty. Business recovery experts fear the existing policy could force clubs to try to continue operating even while they are insolvent, which is illegal.
A spokesman for the Football League said that the verdict had been delayed because club chairmen wanted to look at the insolvency policy as a whole before voting, instead of looking at just one aspect.
‘There is an insolvency working party looking at the insolvency policy as a whole. We will be calling an egm at the end of the summer when they have finished looking at it,’ he said. But insolvency experts continued to speak out against the proposed rules.
A representative of York City FC said the League had clubs and administrators ‘over a barrel’.
‘Nobody is prepared to challenge the League through legal processes,’ said the spokesman.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies