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Owls Await High Court Verdict

Owls Await High Court Verdict

Wednesday are less than an hour away from hearing if the club will be granted an extra two weeks to complete a takeover deal or face administration, or worse.

The club are in the High Court today faced with a winding up order by HMRC over an unpaid tax bill of £600,000.

Wednesday's case is set to be heard in less than an hour, and the judge is set to give an imminent reply to the thousands of Wednesdayites following the news online.

The club are set to ask for a two week adjournment of the case so that they can complete a takeover deal, with four or five parties said to be in discussions.

Wednesday had hoped to have completed a deal by 5pm yesterday so they could pay off their tax bill today and avoid administration or even worse, liquidation.

But, after failing to bring a deal to a conclusion, and by not going into administration, the club instead decided to take the high-risk method of asking for an adjournment.

If the plea fails, Wednesday face liquidation unless the major creditors, the Co-op Bank, immediately force the Owls into admnistration.

We're likely to find out within the next hour, so keep checking Vital for all the latest updates.

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

Writer:Nick
Date:Wednesday November 17 2010
Time: 11:59AM

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Comments

0
regular reports on the following- http://twitter.com/bbc_matt not sounding too promising.
DEZZYP
17/11/2010 12:39:00
0
doesn't sound good - so is fearn the last man standing? think judge and bank will tell us where to go...
Patrick Blondeau
17/11/2010 12:49:00
0
#swfc get 28 days
SWFC Tubes 84
17/11/2010 12:49:00
0
its 1 a piece and theres all to play for - spencer fearn comes on as sub - can he save the day.... Another month of nail biting - its harder work than watching t team!
Patrick Blondeau
17/11/2010 12:52:00
0
Maybe we should have gone with Thomas Cook cos on Wednesday website it says Great Savings With Thomas Cook,nothing still bout admin,takeover,court case etc.
ollyowl70
17/11/2010 13:33:00
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