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Owls Granted 28-Day Adjournment

Owls Granted 28-Day Adjournment

Wednesday have been granted a 28-day adjournment at the High Court today in a bid to complete a takeover deal and pay-off their tax bill to HMRC.

The Owls were expected to ask for a 14-day court adjournment after failing to complete a deal with one of a reported five consortiums looking to takeover the debt-ridden club.

But, after the case was temporarily put on hold at lunch for the judge to make a decision on the club's future, the outcome has gone in favour of Wednesday.

Club officials will now have 28 days to go away and complete a takeover of the club, or risk going into administration if a deal isn't complete.

A local consortium, headed by local businessman Spencer Fearn, is understood to now be the front-runner for the takeover.

More news to follow throughout the day.



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

Writer:Nick
Date:Wednesday November 17 2010
Time: 12:57PM

Comments

0
thank ***** right enough is enough now these consortium's need to put up or shut up time for talk is over !
retfordowl1867
17/11/2010 13:06:00
0
Dont hold your breath. Just putting administration off for another 28 days. If any current or former director is involved with any deal, I will end my run of 42 consecutive years as a season ticket holder. Ther eneeds to be wholesale resignations and an extra-ordinary AGM called.
fed_up_owl
17/11/2010 13:08:00
0
Enough is enough, sell the fecking thing asap, can't be bothered with pointless rumours for the next month. Despite being very lucky and getting away with it again, a day in court for us is a disgrace and an embarassment. its quite a concern that we got so close to adminstration and all we still have is rumours. Its going to be a long, long time before we are anything decent again. Hope the board finally do the decent thing and feck off.
DEZZYP
17/11/2010 13:08:00
0
What a beautiful sight to wake up to! Spot on retfordowl. I'm tired of having interested buyers prancing about but not making any hay when the bullet hits the bone. And as for the board... play nice, use your heads, and for crying out loud, put the club before yourselves for once!!!
Colorado Owl
17/11/2010 13:09:00
0
Oh yeah... I forgot that last request of the board DEZZYP *laugh*
Colorado Owl
17/11/2010 13:11:00
0
they wont go. they will have to be pushed. But it needs all the wrotten eggs outing
fed_up_owl
17/11/2010 13:13:00
0
Admnistration would have been the best option, an opportunity to clear out the rubbish (which hopefully would have included the board, some players and manager) and start agian with some chance of becoming something. Any deal now commits us to more of the same for the foreseeable future.
derbyshireowl
17/11/2010 13:15:00
0
Please note: I believe a precedent was set with Luton a few years ago, where over 10points could be deducted because they dragged out the admin process, like we are doing. From what I know I think they were deducted 30points. So if these guys don't get the money they want, it will be admin + a 30 point deduction, while if we went into admin today it would be only 10. The current owners holding out for the most money will eventually kill this club completely. All of those who said F*** off to Club 9 sport's 2million, we would bite their hand off now! Sadly its sell sell sell (players, stadium, training ground etc..) and league 2 for us, if were lucky.
owl1
17/11/2010 13:18:00
0
Luton were docked 30 points due to financial irregularities in dealing with agents and 20 points for its inability to agree to a CVA to bring it out of administration and for the fact that it was the third time in ten years they had been in administration. Stop trying to cause panic with useless conjecture. Keep the faith and your heads Owls fans things will get better one way or another. FIGHT FOR THE WEDNESDAY!
mikydeewilliams
17/11/2010 13:42:00
0
Sorry that would be 10 points for financial irregularities and 20 points for failing to reach a CVA and being in administration for the third time in ten years, 30 points in total.
mikydeewilliams
17/11/2010 13:44:00
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