We will go into administration

[Rushdenjim]

After saturday's game.

Ive heard some developments from a reliable source, that I for one trust. If you choose to trust me and what ive been told then thats you decision.
We are currently £750,000 in debt owning near enough every creditor we have. We are borrowing off paul to pay peter. Liam and Steve have appealed the 5 point docking not because they have a good case but purely because they want to be safe that we will not get relagated with the 15 points that we will get docked. We are still under a transfer embargo and restricts us from signing any new contracts with players, on pay day in March, Liam and Steve offered Justin £20,000 and told him to choose who got paid. Liam and Steve are thugs that dont know what they are doing. the players dont like him and niether does Justin, who WILL leave this summer if Liam and Steve are still in charge. They are throwing lies about all over the place. Although the great efforts from some of the fans to publish a makeshift programme, the conference board were not impressed and that stated that it lacked required information and will be still get smached with a fine. Finally KC will save the club IF it gets to that point!

[HiHoRushden&Diamonds]

Awkward.

[Bob's Bitch]

Wish I hadn't read that. How do you get £750k in debt when our budget was £400k?

[Sid]

10 point deduction for entering administation would surely be next season, it's about a month past the deadline for this one.

[Pigman]

Depressing

[Sam Gregory]

I could be wrong, but i'm pretty sure that if we go into administration before the AGM, we don't get a points deduction, rather we get booted out the league.... :(

[Harry]

Flippin' heck, that's grim.

[Mad Dog]

Depressing

It is. The bit below is probably key and what we need to bear in mind:

Finally KC will save the club IF it gets to that point!

Is this if all the above happens Rushdenjim or just the above

[rudolph_hucker]

http://news.bbc.co.uk/sport1/hi/football/2336289.stm

Just thought I'd post this so we can all see exactly what lies ahead

[Mad Dog]

I could be wrong, but i'm pretty sure that if we go into administration before the AGM, we don't get a points deduction, rather we get booted out the league.... :(

I'm checking this to make sure what the situation is with these clowns. I found this regarding Northwich:

Vics have fallen foul of regulations set out in Appendix E, which covers Financial Information.

It reads: “A club will not be eligible for membership of the competition for the following season if by the second Saturday in May in the current season it shall be subject to an Insolvency Event.”

An administration order against Northwich Victoria Football Club (2004) Limited was made on May 15 – six days after the deadline.

However Rushe says that he gave notice of the club’s intention to enter administration more than a week earlier on May 6.

He says he has court papers to prove it.

Perversely, the Football Conference includes an application for administration in its list of definitions of an Insolvency Event.

http://www.northwichguardian.co.uk/vics ... ONFERENCE/