LIQUIDATION - a serious option for Wrexham

[On the Left Wing]

Read this response from Hamilton's latest solocitors then read this thread on RP (ignore first post!):

Berg & Co empathises with the loyal fan base of Wrexham Football Club. For a club with such an established history dating back to its first league game in 1890, it is understandable that its current financial position is causing much upset within the community and beyond. This is by no means a unique situation and is a position shared by a number of clubs in the football league.

This firm has been engaged by Mr Hamilton to represent him in
connection with a dispute with a former business partner, Mark Guterman. Mr Hamilton has appointed Berg & Co based on our national reputation and experience for advising in difficult and complex commercial disputes.

We have no influence over, nor can we be responsible for, the ultimate outcome for Wrexham Football Club. Our role, as with any client, is simply to provide the highest standard of advice to our clients.

We regret the harassment suffered by members of this firm and members of their families. We are certain that the majority of genuine Wrexham Football Club supporters would not condone such behaviour. We will not and cannot be influenced by recent ill-considered attempts to intimidate
partners and colleagues of Berg & Co. Whilst full of empathy for the plight of Wrexham FC and its law abiding fan base, we will not tolerate any activity which contravenes the law.

BERG & CO

http://www.red-passion.com/forums/showthread.php?t=1655

 

[On the Left Wing]

You can contact Reuben Berg at reuben@berg.co.uk

 

[dougdeep]

I got a reply from Bergs, they said that they would come down hard on anyone who sent nuisance E-mails to any members of their staff. All I did was ask a question!

 

[Albion Dan]

Liquidation? I thought you lot said the corner had been turned!

If true then those crossbars have gotta go!

 

[perseus]

I expect Hamilton needs a solicitor to protect his unethical and dubious activities, like transferring the assets of the club to a separate company (allegedly). There might a price for him to pay.

Afterall he has got professional administrators and the Inland Revenue conceivably looking into his affairs.

There does not seem to be any point in interfering. As a third party, they will not reply to you.

 

[On the Left Wing]

Liquidation? I thought you lot said the corner had been turned!

If true then those crossbars have gotta go!

I have never uttered the words about corners being turned. Saturday was brilliant and the country has woken up to Wrexham's plight. But the situation is still on a knife edge. All they now have is some borrowed time ...

I think the difference between Hamilton and Archer or Richardson (Donny)or even Reynolds (Darlington) is that Hamilton is willing to push the club over the edge (and being a lawyer has the know how to do it) if he doesn't get his own way

 

[perseus]

I do not expect many people appreciate exactly what is going on. I am not so sure that I do and can only guess.

I would guess that liquidation is possible because the Administrators could decide that Wrexham FC has got too many debts to be a going concern.

However, the debts may have been covered by the value of the ground, and only by certain conniving, has a certain person contrived to attempt to put these assets beyond the reach of a preference creditor.

I am not so sure if I was a banker that I lend money to people like that for a development scheme. You might not get it back.

However, there does seem to thieves and crocks and devious property developers making big dosh with rotten schemes all over the place. Why doesn't the Government do something about it? Sometimes it is the Government that it is doing it!

 

[Lord Bracknell]

I do not expect many people appreciate exactly what is going on. I am not so sure that I do and can only guess.

I would guess that liquidation is possible because the Administrators could decide that Wrexham FC has got too many debts to be a going concern.

However, the debts may have been covered by the value of the ground, and only by certain conniving, has a certain person contrived to attempt to put these assets beyond the reach of a preference creditor.

I am not so sure if I was a banker that I lend money to people like that for a development scheme. You might not get it back.

However, there does seem to thieves and crocks and devious property developers making big dosh with rotten schemes all over the place. Why doesn't the Government do something about it? Sometimes it is the Government that it is doing it!

Oh ffs. Here we go again.

Percy - PLEASE DO NOT INVENT STORIES ABOUT WREXHAM THAT ARE BASED ON GUESSWORK AND IGNORANCE OF THE FACTS

Liquidation will NOT arise from any action of the Administrators. The Club went into administration as a result of a brave decision by its two surviving Directors who were genuinely fearful that Hamilton wanted the Club liquidated.

The debts are more than covered by the value of the ground. The point is that the Football Club doesn't own the ground. Another company owned by Hamilton does. The Football Club have been given notice to quit the ground.

 

[On the Left Wing]

Oh ffs. Here we go again.

Percy - PLEASE DO NOT INVENT STORIES ABOUT WREXHAM THAT ARE BASED ON GUESSWORK AND IGNORANCE OF THE FACTS

Liquidation will NOT arise from any action of the Administrators. The Club went into administration as a result of a brave decision by its two surviving Directors who were genuinely fearful that Hamilton wanted the Club liquidated.

The debts are more than covered by the value of the ground. The point is that the Football Club doesn't own the ground. Another company owned by Hamilton does. The Football Club have been given notice to quit the ground.

I agree LB.

It is a double edged sword for the club in that they have been given notice to quit (next July) by their landlord (Hamilton's company). But Hamilton is also a 78% shareholder in Wrexham AFC. It would be interesting if Hamilton's development company then becomes a creditor of Wrexham AFC - stranger things have happened in administration!

And we must not forget that not only has Hamilton hired one of the country's leading law firms specialising in liquidation and bankruptcy, but he is also a fully trained lawyer himself. It is on this score that I think he is sharper than Archer and judging by some of his recent rants he might just drive Wrexham AFC into the ground because after all "it's his ball"!

 

[perseus]

When was the Inland Revenue debt incurred? When Hamilton was Director? Or did he acquire the debt when he purchased his shareholding?

 

[eastlondonseagull]

I just sent them a badge. The buggers.

 

[StephenWrexhamFc]

The trouble is a lot of stuff we still don't know about.
Hamilton wants liquidation but we all want to try and go into administration and get a new buyer.

He doesn't want to sell either, he is a first class tosspot and we need to find ways of putting even more pressure on him to sell before he ends up in the Manchester Ship Canal