Thetownend.com

Sorry for the new thread, but people seem to have skipped over this.

Bob Holt has freely admitted we've got "insufficient funds" to pay our current debts.

That's an open admission that the club is insolvent.

Fuck Winding Up Petitions/Orders, it won't get to that. WE'RE FUCKED.

Liquidation/Administration doesn't wait 14 days. It could easily happen tomorrow. Just like Luton last week.

All too well SG,sadly

My thoughts exactly Sam.

It doesnt get any more serious than this.

We can't have admin again either surely? So it's liquidation  :(

No, I hadnt skipped that.

Anyone with half a brain can see this is the end.

The judge made it perfectly clear last time we went into admin that the club could not go into administration again so it's liquidation.

I don't know what to think anymore Sam.

We've been lied to so much.

I guess I just can't imagine life without Swindon.

My grandad is turning in his grave.

He said they were going to go begging to Seton Wills again didn't he  :evil: Fucking Seton Wills now that man is a big time fucking joke.

If the club are trading while insolvent (whih they are) is that not against the law so there could be investigations by the law and possible charges for the directors of the company - but would Mikey D get caught as he is not listed as a Director, I suppose any police investigation would find out his role and how he has run the club.

If the club goes into liquidation then I am sure there will be a criminal investigation as it has never happened to a FC at this level before.

Yes, it is.

And it's what Diamandis got done for last time IIRC.

If we go bust there will be investigations into why it happened and no doubt everything would come out and some people will be spending quite a long time behind bars, not that we give a toss, they get what they deserve.

Nobody of our size has ever gone into liquidation.

Scarborough is probally the biggest club this has happened to.

RALPHY: Aldershot were bigger than Scarborough. They folded midseason.

http://img.photobucket.com/albums/v482/gary_stanley_uk/ripstfc.jpg

Really, hadn't thought of that. Thanks for the heads up

Aldershot, Newport County, Maidstone &  Bradford PA, all football league clubs that have folded and all probably bigger than Scarborough to be fair, but not quite as big a club or with a fan base like ours.

Bloody Diamandis bought his shares"for a joke"-is the cunt still laughing?

Aldershot and Scarborough haven't played in the Premiership and won the league cup  :(

Its a legal responsibility of the directors NOT to trade whilst insolvent.  Thats' why they need to ask the shareholders for more funds. If those funds are NOT forthcoming then the Directors are breaking the law. They can only put the club into liquidation or resign.

Are you being sarchastic?

I didn't mean to come accross as patronising, but some people are thinking 'Oh it's ok, we've got 14 days' when we ultimately haven't.

And Maidstone United. Now currently flying high in the Kent League.

Sorry didnt read above

Yeah I was , sorry, I'm in an odd mood for some reason.

I think it likely we will be given some time before being liquidated, I think it likely to be a WUP.  But if SSW doesn't meat the immediate obligations the directors are duty bound to cease STFC  trading or risk the DTI doing them for trading whilst knowingly insolvant.

No doubt seton wills (once a saviour now a hated man) will meet the immediate obligations as always.

This is a total fucking joke, just posted by Banbury on thisis:

Fitton this week has been trying to ring SSW to resolve the issues.

.......but guess what he could not get hold of him as he has gone Grouse shooting.

The football club is facing extinction and he goes Grouse shooting. Just about sums them up.

If its a joke then i wouldn't get too worked up about it

ummmm don't think it was meant as a joke mate

ah, i misread oafs post. thats fucking shocking, but isn't james wills the major shareholder, so what was fitton doing trying to get to seton?

They paddle in such a shallow gene pool that James probably can't use the electric telephone without Pater's help.

Snobby James "I'm an Arsenal season ticket holder" Wills what an idiot.

Another post by Banbury:

Shaw Mate, yes the fence sitters and non confrontationalists have left it a little late. I have known this for at least 2 years.

Just a point there is no football league ruling to say if we go into admin for the third time we go out of the league however our plight is different as the creditors will not accept this for a third time therefore we would be wound up.

For us to start as an "AFC" Swindon we would be in the league lower than the Conferance South.

The Club have no time or money.

Creditors meeting has been called as early as tomorrow I am told.

The only chance remains for that t**t Wills to phone Fitton and strike a last minute deal but even that now looks doomed.

I think its lower than that - AFC Wimbledon started in the Combined Counties League and FC United started in the Northern Premier League or something. I Could be wrong though.

So the creditors meeting is as early as tomorrow then, i hope they don't give the club more time and i don't think they will, the club have had long enough, hopefully they will all file winding up orders.

You can start as high as Supermarine's league but you have to produce a compelling business proposal etc to show you are able to compete and should be considered above normal promotion candidates from the league below.  It's easier to get in lower if you have no idea what size club you'll be.