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+ www.altyfans.co.uk » General Category » Altrincham FC First Team
 HALIFAX UPDATE
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Author Topic: HALIFAX UPDATE  (Read 13000 times)

malcolm

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Re: HALIFAX UPDATE
« Reply #30 on: May 07, 2008, 07:12:31 PM »

 God forbid another club going bust but think of the positives. God chance second administration you could be relegated yo Unibond anyway.
If you went bust all debts cleared all stiupid contracts void (remember Steve Bushall saying he couldnt believe the full time offer he got).
   Start again maybe Unibond one, the council need a foootball club at their stadium just having Rugby cant justify it. Mignt take 3-4 seasons get back to Blue Square but it would be debt free. A look at the Halifax forum is even if this is sorted their losses every month means it probably happen again in a few years, hopefully the new club would be stronger. All the best Fax
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blackpoolalty

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Re: HALIFAX UPDATE
« Reply #31 on: May 07, 2008, 07:35:39 PM »

I think they will just run out of time to sort things, this is worrying though..

HM Revenue & Customs did this,they automatically reject any CVA unless it is payment in full. Problem here is according to HMRC the amount they are owed is in excess of 25% of the total debt therefore what ever anybody else agrees the shaymen will go out of business at 1200 on Friday.
There is a small chink of light here as the administrator thinks HMRC have got their figures wrong and the their debt is under 25% the administrator is awaiting a call from then with the correct figure.


Why can't Halifax or the administrator work out who's owed what and what percentages, I just find it quite strange that HMRC say they are owed more than 25% of the debt and from that paragragh they have been told to work it out again and they are now waiting to here of HMRC if they were correct ??? Shouldn't they be telling HMRC how much they owe and what percentage of the CVA it is...
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B. 4D

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Re: HALIFAX UPDATE
« Reply #32 on: May 07, 2008, 08:02:49 PM »

Good point.
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PJ_ALTY.FC

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Re: HALIFAX UPDATE
« Reply #33 on: May 07, 2008, 08:08:52 PM »

erm correct me if i am wrong, but looking at the post 'Halifax full debt' i looked up HM Revenue and Customs, worked it out, and the calc is

£485,671.64 x 100     = 24.2%
---------------
£2,007,846.50

so if Halifax couldnt work that out.... should they be a fully functional business/club :S
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SW

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Re: HALIFAX UPDATE
« Reply #34 on: May 07, 2008, 08:37:26 PM »

Whatever happens sincere good luck Halifax and their supporters. We may be facing relegation but oblivion is off the scale. I personally hope they work something out even if it isn't at our expense.
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Steak & Kidney pudding, chips, mushy peas and a pint of gravy.

mikeford2005

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Re: HALIFAX UPDATE
« Reply #35 on: May 07, 2008, 09:09:52 PM »

erm correct me if i am wrong, but looking at the post 'Halifax full debt' i looked up HM Revenue and Customs, worked it out, and the calc is

£485,671.64 x 100     = 24.2%
---------------
£2,007,846.50

so if Halifax couldnt work that out.... should they be a fully functional business/club :S

I'm presuming HMRC are disputing the amount they are owed (possibly interest?? no idea) or they are unsure on whether all of the 2mil are valid debts. Im sure it wont be a simple mathematical error
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Narcissist

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Re: HALIFAX UPDATE
« Reply #36 on: May 07, 2008, 09:44:42 PM »

Here it is alty fans.... from someone who was there...

I was at the shareholders meeting this afternoon and the current position is as follows

The propsal to pay 2.5p in the pound has been rejected

HM Revenue & Customs did this,they automatically reject any CVA unless it is payment in full. Problem here is according to HMRC the amount they are owed is in excess of 25% of the total debt therefore what ever anybody else agrees the shaymen will go out of business at 1200 on Friday.
There is a small chink of light here as the administrator thinks HMRC have got their figures wrong and the their debt is under 25% the administrator is awaiting a call from then with the correct figure.

If the above hurdle is overcome and HMRC's share is less than 25% then provided all the other creditors agree on the latest amendment to the CVA town could still be safe. This latest amendment proposed at this mornings meeting asks for a minimum of 10p in the pound to be paid.

If the consortium are willing to stump up the extra cash then the administrator has to pay it all out by Saturday. If they don't then town go out of business at 1200 on Friday

I understand that although everything won't actually meet the conference deadline the adminstrator seems to think the Conference and the FA will use common sense and town won't be relegated. However this is dependent on town getting over hurdles one and two. We'll all know on Friday one way or another.




Thanks for the info and honesty here.

I have to say that if some Alty fans say they wont celebrate a reprieve i'm not one of them. I wont celebrate Halifax going bump though. Its a sad reflection on this league. Wtih a change of name the league took on a chane of emphasis. Now, instead of clubs killing themselves off to get out of the conference we'll have clubs killing themselves off to stay in the BSP. Very sad indeed!

I apologise in advance for my anticipation. Im just being honest!
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markecky

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Re: HALIFAX UPDATE
« Reply #37 on: May 07, 2008, 10:26:24 PM »

Agreed..thanks for the balanced view mate.

However you mention Conference, FA and common sense in the same sentence.  I give you the largest ever points deduction in Engilsh football history because a player from Accrington didn't have clearance he could have got in a week.

I stick with the Scarbororough theory.  If you cross the conference board, its hard to comeback from it.

Scarborough went to the AGM full of confidence that had done all that was asked of them and they went. 

Its going to be a tough few days.

You'll never agree I'm sure, but I wouldn't mind betting a new reformed Halifax would come back bigger and stronger than ever if it came to that.



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Wilmslow Alty

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Re: HALIFAX UPDATE
« Reply #38 on: May 08, 2008, 12:35:19 AM »

You'll never agree I'm sure, but I wouldn't mind betting a new reformed Halifax would come back bigger and stronger than ever if it came to that.
Aldershot have shown it can be done.
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Acton_Alty has now moved to Chiswick...Wilmslow!

Narcissist

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Re: HALIFAX UPDATE
« Reply #39 on: May 08, 2008, 08:41:37 AM »

You'll never agree I'm sure, but I wouldn't mind betting a new reformed Halifax would come back bigger and stronger than ever if it came to that.
Aldershot have shown it can be done.

Wouldnt an AFC Halifax club be in a similar position because they would have a stadium waiting for them? I presume they could use the stadium? I have to say that if this is the case, it could be the best thing. I know this is easy to say when you dont have 5 years of re-building in non-league oblivion to look forward to.

Good luck to both of us. Here's to AFC Halifax  ;)
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Jezza

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Re: HALIFAX UPDATE
« Reply #40 on: May 08, 2008, 09:34:16 AM »


This smacks a tinyt bit of Crawley saying it was an administrative problem, they were ready to pay they were just waiting for the HMRC to let them know how much they owe.

I assume the 24.2% done from the sum is out of date and there is another months worth of tax or interest due taking it to 25.3% or something in which case would it be possible to pay the HMRC maybe 2% to be sure of bring it down to around 23% and presto?

Whatever, good luck to halifax....the worst will probably be Unibond 1 not county football like Aldershot and AFCW with their ground.
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Hxfoyboy

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Re: HALIFAX UPDATE
« Reply #41 on: May 08, 2008, 10:22:28 AM »

hi there HTFC  fan here, in response to,
"Wouldnt an AFC Halifax club be in a similar position because they would have a stadium waiting for them? I presume they could use the stadium? I have to say that if this is the case, it could be the best thing. I know this is easy to say when you dont have 5 years of re-building in non-league oblivion to look forward to.

Good luck to both of us. Here's to AFC Halifax  "

we already have one!!!
http://www1.freewebs.com/afchalifax/

i dont know much about the ongoing situation, just that it is of course a real nail biter
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terraloon

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Re: HALIFAX UPDATE
« Reply #42 on: May 08, 2008, 04:42:27 PM »




I assume the 24.2% done from the sum is out of date and there is another months worth of tax or interest due taking it to 25.3% or something in which case would it be possible to pay the HMRC maybe 2% to be sure of bring it down to around 23% and presto

At this stage you are not able (unless a creditor of preference, which HMRC are not) to pay a sum to one creditor and not pro rata to all

The % was so colse to 25% so I guess the cliam has increased due to interest etc but either way must be very tight as to if they do manage to get through this
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Narcissist

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Re: HALIFAX UPDATE
« Reply #43 on: May 09, 2008, 10:52:34 AM »

There is also the distinct possibility that other creditors have taken the HMRC stance and reject all offers other than full payment.

I just cant see HMRC being the only one. Even if it is 24% what are the chances of the other 76% being happy with 10% of what is owed. For some that could still mean no food on the table for their family. 10p in the pound is improved but still derisory to some.
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+ www.altyfans.co.uk » General Category » Altrincham FC First Team
 HALIFAX UPDATE