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Owls Given Time To Settle Debts

Owls Given Time To Settle Debts

Wednesday has today been given 28 days to settle its debts with the taxman following an appearance in the High Court.

The Owls were served with a winding-up petition by the HMRC for an unpaid PAYE balance of £550k and, despite already making a 'substantial payment', had to go through the process of attending the High Court hearing today.

The sale of Owls stopper Lee Grant has allowed the club to make the payment towards the balance, with the transfer imbargo slapped on Wednesday by the Football League being lifted as a result last week.

But the club has still to settle the bill and has been given 28 days to pay the remaining balance.

Huge Groves, who represented the club, also revealed that the club 'are in very serious and advanced negotiations for the sale of the club.'

The Registrar has already dismissed petitions against Southend United and Cardiff City football clubs after being told the debts to HMRC had been paid.

And Wednesday are set to follow suit sooner rather than later.



Click here to join in the debate on the club forum.

Writer:Nick
Date:Wednesday August 11 2010
Time: 1:51PM

Comments

0
Thought we got a Million for Grant?? Where has the rest of the money gone? If Burnley were paying in installments why didnt we demand half upfront to pay the HMRC??
Bognor_Owl
11/08/2010 14:10:00
0
I imagine the issue is cash flow - the longer Wednesday can keep hold of the money the more interest (or less debt payment) they will make. It may also be that Burnley are paying the Owls in installments. Oh to have LS back - he kept us fully informed about what is going on - come on Howard - do the same!
bluedog
11/08/2010 14:57:00
0
what the ****? where the hell has the grant money gone? they shouldnt be p*ssing about thinking of interest and playing games with the tax man. These w****rs on the board should pack up and **** off.
DEZZYP
11/08/2010 15:03:00
0
I thought the money went to the Football league then they passed it to HMRC then the rest to us thats why it took so long for transfer ban to get lifted? so how much did we get for grant? where is all the money going and wtf is going off down at s6!!!!!!! no wonder we have not been bought yet
Bodsy owl
11/08/2010 15:10:00
0
Dezzyp "they shouldn't be thinking about interest and playing games with the taxman" Of course they should !! - they should be thinking about the most favourable financial way in which to settle the issue with the Tax man. If they have the cash and the taxman is willing to give them another 28 days ..then it makes perfect sense to hold the payment. It is what any sensible business person would do.
DB2002
11/08/2010 17:13:00
0
Everyones going a bit mental here. The club already told us this on friday when the embargo was lifted, part of the PAYE was agreed to to be paid and adjourning the court appearance was likely
nice1emile
11/08/2010 18:43:00
0
It would be easier to comment if we had all the details but our finances remain clouded in mystery. In the past I've argued with those who hold similar opinions to Dezzy but after this debacle I'm convinced. Spot on Dezzy, spot on.
robc
11/08/2010 19:21:00
0
You will drive yourself mad if you think of what goes on behind the doors. Ive stopped worrying about he boardroom and concentrate on the atractive attacking football on s............ oh bugger!
Waddle1993
11/08/2010 19:54:00
0
If anything this clearly shows the club is on the verge of a takeover. I should imagine that was one of the reasons given further time. I thing people should calm down and watch this space.
jamesc1905
11/08/2010 21:17:00
0
pay you bills you scrubbers!!
bladesforlife1889
12/08/2010 21:33:00
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