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anyone know how this would work?

realistically, given James Wills' latest demands, liquidation is now only a matter of time - could Fitton (or anyone for that matter) buy the club that way?

I think Fitton said he wouldn't want to buy the club if we went into liquidation, i might be wrong.

Do we not get expelled from the football league if we enter liquidation??

Yes we do lose our league status.

Liquidation means just that. The business is liquidated and the assets sold off.

If we are liquidated, we have lost our league share, so what is there to buy? The club has no assets apart from a  few used footballs, and two sets of goal posts.

I think if we go into receivership then someone can try and mount a succesful rescue package by doing a deal with the official receiver but as a club at this level has never gone that way then there is no guarntee of success and no precedent set and it would also rely on the FL allowing the club to keep it's league status, if they didn't and they may decide not to allow this the club will have to start all over again in non league regardless.

Fitton wants a league club that he can take forward not one that is being automitically relegated or deducted x points

We need Fitton or we're bust.

From memory, (And I am no legal guru), I think that are right that a rescue package could save the club after a wup. From my understanding though, the FA has stated that one more period of administration would not be torellerated. Despite them saying that though, should a rescue package be offered from somebody like, say Fitton for example then MAYBE the FA would use a bit of common dog, realising that in the control of somebody with his business acumen then it won't happen again.

Clutching at straws I know, but one can only hope.

But let's not forget Ladie's and Gent's, Fitton is still working on this deal and I have a hunch that his is smart enough to get what he wants.

Bang ... where was you born?

PMH of course! Why do you ask?

... common dog ... spoken like a proper geezer.

Forest Gate me, but conceived near Plaistow Station, within the sound of Bow Bells.

Meanwhile, I think you could have a point about the club being bought out of receivership. Is winding up different to administration? If so we would not be in admin for a 3rd time. Nonetheless, I also believe AF is a winner and knows how to get what he wants.

I grew up in Park South, a shifty council estate, hence the geezer spiel.

I'm not clued up on the wup/administration thing but it all falls under the same umbrella.

Let's hope that we are right about AF, he is alot smarter than the current bored (Deliberate mis-spelling) after all.

exactly im a pmh man myself but yes i reckon the club know fitton may well get the club in the end and i believe they intend to do as much damage as possible as a final farewell gift to the fans. at the moment though i reckon fitton could well walk away and if the club believe he would come back i wouldn't blame him if he just stayed away and it would be justice for the cunts to have the title of killing the club on their cv.

SSW: We have to agree to this, and on his terms right now otherwise stfc will be no more.

Diamond Mike: No need to worry m'lord, he came back once before and so he will do so again. Just whack in the third ammendment reagrding the extra few billion drachma and it'll all be ok.

SSW: OK, well if you are sure, I can trust you can't I Mike.

Diamond: Of course you can.

SSW: OK then.

reading between the lines it seems they have put too much faith in fitton wanting to conclude a deal at all costs.

If the club was bought out from liquidation would we have to change our name to STFC Kenwood?

I don't think that you are reading between the lines at all, in fact I think that it is quite clear that (they think) that a game of chicken may work in their favour.

Although I do get the impression that Fitton feels quite passionately about taking over.

Surely if we were liquidated though the Swindon council would have the right to us the land the County Ground is built on for whatever they wished as our lease would then be void?

Any rescue plan would be useless as we'd have no ground to play in!

Anyone know if i'm right?   :(

"RESCUED", is surely the operative word here, meaning that the club would be allowed to continue as it is, trading under it's own brand name and so therefore any contracts of any sort would remain valid.

I would say you are right.... contract would be broken.

No, I agree with what you're saying and I also understand the meaning, in this context, of "Rescued".

It's just the rumours for so long have been that the council want that land for other ventures.  I wondered if legally this gave them the perfect opportunity regardless of any rescue package.

Anyway, I shouldn't be so doom and gloom!   Thanks for the reply Bangkok Red.

Fingers and everything else crossed, eh!

If you fancy a long read this may be useful, especially as we are not experts in winding up i.e compulsory liquidation.

http://www.insolvency.gov.uk/guidanceleaflets/dealingwithdebt/howtowindupacompany.htm

It answers some of the q's being raised and perhaps some to come.

However I prefer to concentrate my PMA on Fitton succeeding now, rather than via a strategy that could bring a new set of problems. So, off to light another candle and kiss another icon.

I may take a read through that, I can sense a long night ahead.  

Cheers for the replies.   Let's all keep praying