WANDERERS are celebrating after being granted a 14-day adjournment by the High Court to complete their takeover.

The club were faced with a winding up petition from HMRC over an unpaid tax bill worth £3million but lobbied the court to give them extra time to get a deal over the line.




Sports Shield, the consortium led by ex-Wanderers striker Dean Holdsworth, are now in a position to buy the club from Eddie Davies although the details of their bid must first be approved by the owner, and then the Football League.




Paperwork on the deal was signed and completed just minutes before today’s hearing in London, which led to a brief delay as a witness statement was read.

Had an adjournment not been granted then Wanderers would have had to seek a short adjournment to file for administration, which would have carried an instant 12-point penalty and meant almost certain relegation from the Championship.

HMRC had lobbied for liquidation – which would have meant the sale of all assets owned by the club, including the Macron Stadium itself.

Wanderers were represented by Hillary Stonefrost and also had Trevor Birch and Richard Gee present at the hearing on behalf of the board.



Share article

   



They will now head back to the High Court on March 7, by which time a takeover should be complete.

More to follow…
http://www.theboltonnews.co.uk/news/14293313.Wanderers_granted_reprieve_in_High_Court_as_takeover_steps_closer/

HMRC underline fact that Eddie NOT writing all of his debt off. Would stand at £15m

a second buyer still being mooted aswel

What is it they say come the start of the Olympics "Let the games begin"

or
Peter Manning has put in a signed witness statement that all club shares are being bought by two companies

Another 2 weeks for ed to play his games/move goalposts etc.

Comment deleted by Article Creator

up pops that millionaire lad who will this minute be plotting the demise of Deano
Land Ahoy !

Pasty please delete my post, maybe the wrong Gordon Bruce.

Thanks

Club President......MR Davies

He will be wanting a statue next.

Request granted Isaac
Its the money behind the names we should be interested in. Who has lent Deano dosh and who has stumped up the rest.

How did that slip in
The club song is now Polly Put The Kettle On to be played at half time as you make your way to the Eddie's eateries and Davies's Drinks franchised kiosks.

Well he's Houdini in disguise. No doubt there will be more twists than a coiled spring.

It's getting very frustrating.

HMRC says the car park sale didnt actually take place...
HMRC also siad that £7.5m was not enough to cover agreed outstanding debts and the club is insoluble. wasnt happy with witness statement as new owner funding didnt match BWFC outstanding debt and asked for immediate wind up order
Judge was explicit that ALL secured and unsecured debt includind HMRC must be paid off with sale or club will be wound up.

The debt to HMRC is costing £175,000 , a week in interest that's why it was £2,2mil and is now £3mil and will go up by another £350,000 in the next 14 days,
And yet we can't even afford a loan signing ,😡.

the embargo stops the loans as we have 24 players already

All coming out in the wash. Whos actually going to pay the tax? Deanos consortium? What else is going to come out of the wash?

i'd like to know what happened to the barrow last night

Under the tarp in the barrow it wasn't a pile of money or chocolate money it was just horse sh!t from the horse guards stables left in court as a deposit on the coffees everybody drank while waiting.

Don't forget accounts are due end of March Go back to start... do not pass go... do not collect ...

Did you know today It was the same judge who sat when the Howfen Weavers were found not guilty on Juke Box Jury

trying to get an answer on are ALL the clubs shares being bought or just ED 96%

PG's shares will no doubt be waiting for probate to be completed.

Ye Olde Pasty (U2191)
posted 1 hour, 43 minutes ago
Under the tarp in the barrow it wasn't a pile of money or chocolate money it was just horse sh!t from the horse guards stables left in court as a deposit on the coffees everybody drank while waiting.

I had a distinct feeling it was $hit but wasn't sure which kind.

If they buy ed's 96% unfortunately for those who own the odd 4%, it won't matter a jot.

Actually I thought it was Bull $hit.