Crusaders will probably escape this year but I wonder what action Super League are planning when the new company goes belly up this time next year?

As fans we'd better make the most of next season then.

I am confident we can come out of the other side of this a stronger set up but at the moment the silence is unbearable.

There is also talk of a group from South Wales looking to take the club back to Bridgend. You couldn't make it up.

What's cheeky about that?It's a very resonable request if you ask me.In fact,instead of starting the season on minus six points I think,as an expansion club,they ought to start on plus six points.

I say start them on +55 then they can be minor premiers.

And we briefly asked the RFL to waive our relegation at the end of 2006 because we had 19 pts (yes, I know, we're an expansion club who only joined the league in 1926

) before we saw sense. And I'm fairly sure that in the same year, Wigan asked the RFL not to punish them at all over the salary cap breach. There's nothing unique in asking for things.

Correct , we asked the RFL to use the nearly completed LSV stadium for our franchise application in 2008 , they refused that as well

Yet Salfords patch of earth was fit for SL in 2008

There are people on this board who can make anything up.

Not wishing to sound too ignorant here. But how can a business that is in administration, ie creditors will only get so much in the pound if anything. Then announce that the RFL is giving them money to pay the players wages IN FULL at the end of the month. Am I not right in thinking the players are now creditors like any other and not preferential creditors.

Can someone tell us the full 100% truth at what is going on, and who is the employer for the two players they signed two days before a pre-arranged administration hearing.

Something doesn't smell right at all

Wrexham village probably

According to the sporting life report the money has been promised to the administrators, so that wouldn't be Wrexham Village.

The RFL have lattitude to allocate Sky money to certain parties prior to paying it to the 14 clubs.

For example at least one SL club has been 'very slow' when paying for its loan players / handing over the ticket money when it has sold tickets to its fans for away games. Here the RFL deducts money that is owed to other SL clubs and then pay the balance to the slow payer.

I assume the RFL have said they will pay players first THEN the balance goes to the Crusaders. I am sure other creditorswill be livid.

I think you are confusing administration with liquidation.

A company in administration is still trading in the hope of being sold as a going concern to a new owner or owners who will hopefully inject fresh capital. It is normally agreed as part of that transaction which creditors of the old company will be paid, and how much.

A company in liquidation has effectively ceased to exist. Its assets (if any) will be sold to the highest bidder and any funds raised will be used to pay creditors, usually at a rate of so many pence in the pound.

Hmmm so the creditors will be quite happy that the players can still be paid in full and they myght get a minute percentage. What about the dismissed winding up order, does that mean HMRC have written off the amount it is owed. At the end of the day there doesn't seem a massive amount of difference if the buyer that the administrators feel is best to take over is only offering creditors 10%

The creditors have no option. We've had customers go into administration and all you can do is hang on and hope that they can be rescued and eventually pay off their debts. Any eventual buyer will inherit the debts and will have to make their own arrangements with creditors.

The dismissed winding up order may indicate that HMRC have confirmed that the money wasn't owed after all?

It wasn’t dismissed, it was adjourned to the following week, by which time they went into administration.

It was dismissed today pepe, in about 30 seconds according to reports

Fair enough then. Kosh may be right.

So the Crusaders didnt actually need to go into admin.
I would guess the decision has been taken to remove the depts they inherited from the previous regime and stop someone trying to get even more out of the club.

If it is a case of the money had been paid and they have done the admin to get rid of old ' inherited ' debt , well not ideal but much better than what it seemed , just whoever agreed the original deal without sorting it at the time wants a rocket up the jaxxy

Then again I think at the time the RFL were that desperate not to lose the ' Welsh ' licence they'd have agreed to anything

Would seem that the bill had been paid after all, the things Crusaders do to make the off season interesting for everyone else eh?

Its more likely to mean that its the only way HMRC could get any money back.

If they'd wound the club up they would have got nothing as the club has no tangible assets to speak of that the official receiver could sell to distribute funds to creditors. Its pointless to wind up a company that has no assets, except to prevent them from accruing more debt if they carried on trading.

By letting them go into administration the administrator will try to find a buyer for the business. Any price paid for the purchase of the business will then go to pay off creditors at a % in the £. If they owed £750k and the business was bought for £75k, as an example, then creditors would receive 10p for every £1 owed to them.

HMRC's logic will be that its better to have something, even if its only 10%, than nothing.

.....actually makes the off-season interesting watching the anti-anythingtherfldo gang come out in droves....I'd swear some of these posters only post between October and Feb every year

They follow the same pattern as the backanythingdumbassthattherfldo brigade

Well administration wasn't a sudden decision in my opinion, backed up by the formation of a new company W Crusaders on the 20th Oct, along with the removal of the 'no adminsitration' criteria by the RFL around the same time, oh and the Administrators being from just down the road from Red Hall