Quote="Fully"In George Riley's blog it says the IVA prevents him from being on the BoD. Doesn't that mean he can still be a shareholder or am I misinterpreting it?
You can be a director without being a shareholder, and you can be a shareholder without being a director. And you can be both.
The problem with a personal shareholding is that it is an asset that creditors can snatch, and so it makes sense for him to sell to realise what he can. For the buyer, it is like our super league status: a good investment if the stadium comes off. Not if it doesn't.
The Widnes mismanagement was of the club, by the way. It matters little that Ted's personal finances have gone awry provided that the club is managed okay financially.
Quote="Fully"In George Riley's blog it says the IVA prevents him from being on the BoD. Doesn't that mean he can still be a shareholder or am I misinterpreting it?
You can be a director without being a shareholder, and you can be a shareholder without being a director. And you can be both.
The problem with a personal shareholding is that it is an asset that creditors can snatch, and so it makes sense for him to sell to realise what he can. For the buyer, it is like our super league status: a good investment if the stadium comes off. Not if it doesn't.
The Widnes mismanagement was of the club, by the way. It matters little that Ted's personal finances have gone awry provided that the club is managed okay financially.
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