Chester wound up

[Sir Tokyo Sexwale]

Chester wound up

 

The debt-ridden company behind Chester City FC has today been wound up, the club have confirmed.

 

Chester City FC 2004 Ltd failed to settle its debts with HM Revenue & Customs resulting in the adjudication at the high court in London this morning.

 

In January, the company was given six weeks to finalise proposals for a Company Voluntary Arrangement (CVA) aimed at enabling the club, which was formed in 1885, to clear their immediate debts – £26,125 of which is owed to the taxman.

 

They, however, failed to do that and so today succumbed to a compulsory winding up order.

 

But supporters have vowed to resurrect Chester, which was expelled from the Blue Square Premier division last month.

 

Speaking outside the high court, supporting creditor David Evans, who is on the board of City Fans Ltd, said: "It's quite emotional but it means a fresh start. It means we can have our club back. We hope we will now be a reformed club."

 

Fellow fan Sue Choularton added: "In a way it is very sad, but we are planning on starting up a 'phoenix club' to start again, possibly in Unibond League One. We have already got 1,000 members."

 

The registrar's ruling means the club's affairs will effectively be handed over to an Official Receiver. His job is then to do his best to ensure that debts are paid off by selling any assets available and then bringing business to a close.

 

Meanwhile, Cardiff City have been given 56 days and Southend 35 days to settle their own winding-up orders.

 

Both clubs were given more time by a High Court registrar to make a "full and final" payment to HM Revenue and Customs of VAT and PAYE debts.

 

Matthew Smith, representing HMRC, told Mrs Registrar Derrett that both clubs were insolvent and Cardiff was "robbing Peter to pay Paul" in order to stay afloat.

 

He said the Championship side owed around £1.9m and League One Southend £411,000.

 

Lawyers for Southend agreed staff at the club had not been paid but this would be settled on Monday.

 

The registrar was told that Southend will receive funds soon, including £800,000 from season ticket sales.

 

Elaine Palser, representing Cardiff, said a "third party" investor would be providing the club with £6m in funds and the tax debts would be paid.

 

She said the company was not insolvent and had substantial assets including £30m worth of players and the problems had been caused by a "temporary cash flow difficulties".

[Cobs]

Pompey

[cymrococh]

Cardiff next!

[Sion]

Farsley Celtic have been wound up as well. Which is good for merseyside locals Southport as they've benefited the same way we would if Pompey went bust.

[Sir Tokyo Sexwale]

kinell, there's a taste for this - bye Pompey

[Red Kent]

Personally I think it's sad that clubs like this are being wound up, imagine if you supported one of them. You would have to follow another club to fill the void, but the feeling just wouldn't be the same.

[magic melia]

Personally I think it's sad that clubs like this are being wound up, imagine if you supported one of them. You would have to follow another club to fill the void, but the feeling just wouldn't be the same.

That would be a good one to discuss , If it ever happened to us what team would you follow

[Coyler]

.

Edited March 10, 2010 by Coyler

[dorgie]

Is this thread a wind up ?

 

[Ramón Benítez Hernández]

Cardiff next!

 

 

PLTBT

[Red Kent]

That would be a good one to discuss , If it ever happened to us what team would you follow

 

Don't tempt fate, please don't.

[oakie bob]

Marine, local club for us crosby people

[Sir Tokyo Sexwale]

Personally I think it's sad that clubs like this are being wound up, imagine if you supported one of them. You would have to follow another club to fill the void, but the feeling just wouldn't be the same.

Yep - or like in Baseball - the Brooklyn Dodgers f***ed off to LA in the 60s to become the LA Dodgers. What if you supported them as Brooklyn? Stay with them? Or find a new team?

[Red Kent]

Yep - or like in Baseball - the Brooklyn Dodgers f***ed off to LA in the 60s to become the LA Dodgers. What if you supported them as Brooklyn? Stay with them? Or find a new team?

Nothing personal, but dont give a s*** about rounders.

[Sir Tokyo Sexwale]

I mean the principle - like Wimbledon did

[Red Kent]

I mean the principle - like Wimbledon did

 

Fair enough.

[_00_deathscar]

That would be a good one to discuss , If it ever happened to us what team would you follow

 

I think I wouldn't follow another team. I'm already losing interest in football as every day passes...and as Kev said, it just wouldn't be the same.

 

Not that I have any 'ties' to Liverpool as those born there or through the family such as most of you...but that's how it goes.

[Ramón Benítez Hernández]

I'd chuck it all in. I'm almost there anyway thanks to G&H.

Edited March 11, 2010 by Grahimi LeBroy

[New York Red]

PLTBT

 

B*stard

[Ramón Benítez Hernández]

B*stard

 

 

[goose island]

Cardiff next!

 

 

nah, the Welsh FA will never let it happen to them. they are the Real Madrid of Welsh football.

[Michael]

I think I wouldn't follow another team. I'm already losing interest in football as every day passes...and as Kev said, it just wouldn't be the same.

 

Not that I have any 'ties' to Liverpool as those born there or through the family such as most of you...but that's how it goes.

 

 

Exactly how I feel.

[smithdown]

If we were wound up, what would happen to Our European Cup, do you reckon? Would it get sold or given back to Uefa?

[Gunga Din]

If we were wound up, what would happen to Our European Cup, do you reckon? Would it get sold or given back to Uefa?

 

melted down and sent into a "cash for silver" type business by G&H

[drdooom]

How much would it go for on eBay?