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| LewisJ23 - I will be at Cardiff and hopefully see a good Wakefield performance.
I dont expect us to beat you but then again we have won something like 10 out of the previous 13 meetings with our nearest and dearest !
As for the Millionaire owner to which you laugh - if the rumours are true, and its looking more and more likely that they are then I can assure you he certainly is a millionaire !
We may struggle in the coming months on the playing side of things but trust me when I say we have an outstanding future on the horizon - much better than most if not all of the other SL clubs !
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| Quote ="Adeybull"I believe so, although I doubt any announcement can be made until O'Hara's are in a position to enter into an agreement.
Prepack ready and waiting by then, I suspect.
Would be good if the new owners were able to make an accommodation with the creditors, such that the smaller ones were paid and HMRC received a settlement.
Another RL financial scandal - but none of it the fault of the loyal fans. Don't let any fekkwits come on here gloating (hopefully few will). Any that do are beneath scum IMO.
Good luck guys.'"
Cheers Adeybull.... I must of got you wrong in a old post, your alright for a Bull
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| Taxi for Ted!
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| Just a quick question but can players now walk away if they saw fit/got another club?
Not trolling its a genuine question.
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| Quote ="Roverswall"Just a quick question but can players now walk away if they saw fit/got another club?
Not trolling its a genuine question.'"
I don’t believe so, by going into administration the club is still trading, but should any club put in an offer for one of the players though I’m sure the administrator would sanction it as a means of recouping some money for the creditors.
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| Does this mean the end of the franchise bid or will we be treated the same as crusaders(i think this is doubtful).
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| Quote ="Wildcatfan"Sad state of affairs that it has come to this but I think we all agree its for the best and now we can all look forward to a bright new future !
Hopefully the millionaire new owner, completely debt free club, outstanding community department, impressive and championship winning academy side and a shiny new stadium on the horizon should allow us to keep our SL licence come June/July.
After all the depressing times over the past months things now seem to be going in our favour !'"
I'm sorry but i have to take the moral high ground here, how can a business that has contributed to it's own downfall, rack up it's own debts be allowed to just walk away form their responsabilities and commitments. how many S&M businesses will suffer as a direct result of your admin?
there is a part of me and i promise you this would be the same if it was Cas, that believes you should not be allowed to purposely walk away from their debts, crippling others in the process and be allowed a free lease of life under the guise of a new name/brand!!
you should suffer as much as your unpaid creditors and if it means a few years of hardship then sobeit. afterall the bill that is owed to the tax man who will pay that? you and me (well not me as i dont pay tax out here) but you get my drift.
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| Quote ="Adeybull"I believe so, although I doubt any announcement can be made until O'Hara's are in a position to enter into an agreement.
Prepack ready and waiting by then, I suspect.
Would be good if the new owners were able to make an accommodation with the creditors, such that the smaller ones were paid and HMRC received a settlement.
Another RL financial scandal - but none of it the fault of the loyal fans. Don't let any fekkwits come on here gloating (hopefully few will). Any that do are beneath scum IMO.
Good luck guys.'"
Cheers Adey, I should have just pm'ed you!
I think you are right about the new owners hopefully having already reached a settlement with HMRC and the smaller local creditors, but HMRC will be the one that sort of make that call. They can have some money or none at all... lets hope they were a little less bloody minded about this than they appear to be in general with RL at the moment.
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| Quote ="Khlav Kalash"I don’t believe so, by going into administration the club is still trading, but should any club put in an offer for one of the players though I’m sure the administrator would sanction it as a means of recouping some money for the creditors.'"
Werent crusaders signing players when they were in admin?
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| Quote ="HouriganTiger"I'm sorry but i have to take the moral high ground here, how can a business that has contributed to it's own downfall, rack up it's own debts be allowed to just walk away form their responsabilities and commitments. how many S&M businesses will suffer as a direct result of your admin?
there is a part of me and i promise you this would be the same if it was Cas, that believes you should not be allowed to purposely walk away from their debts, crippling others in the process and be allowed a free lease of life under the guise of a new name/brand!!
you should suffer as much as your unpaid creditors and if it means a few years of hardship then sobeit. afterall the bill that is owed to the tax man who will pay that? you and me (well not me as i dont pay tax out here) but you get my drift.'"
What's the alternative? Go into liquidation and give em even less?
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| Quote ="Adeybull"
Another RL financial scandal - but none of it the fault of the loyal fans. Don't let any fekkwits come on here gloating (hopefully few will). Any that do are beneath scum IMO.
Good luck guys.'"
I don't always agree with your posts, but I'm with you on this one. I'm a Leeds fan, and banter between teams is well and good, but no real fan wants to see this kind of thing happen.
As others have said, whatever mismanagement (I think being frankly unlucky with planning applications hasn't helped anyway) has gone on, the fans aren't responsible for that.
Here's hoping the creditors can be given as fair a deal as possible and the club can bounce back stronger for the whole sorry affair. Time will tell whether that means staying in SL or dropping down and coming back later (not my call, others will make that) but one way or another there's too much history at Trinity to disappear.
Good luck, and I hope you fans (even the gobby ones ) get the club you deserve out of all this.
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| Quote ="HouriganTiger"I'm sorry but i have to take the moral high ground here, how can a business that has contributed to it's own downfall, rack up it's own debts be allowed to just walk away form their responsabilities and commitments. how many S&M businesses will suffer as a direct result of your admin?
there is a part of me and i promise you this would be the same if it was Cas, that believes you should not be allowed to purposely walk away from their debts, crippling others in the process and be allowed a free lease of life under the guise of a new name/brand!!
you should suffer as much as your unpaid creditors and if it means a few years of hardship then sobeit. afterall the bill that is owed to the tax man who will pay that? you and me (well not me as i dont pay tax out here) but you get my drift.'"
Welcome to a free economy these laws are designed to help the small companies and as such without them we my as well be ruled by Stalin
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| Quote ="Schunter"What's the alternative? Go into liquidation and give em even less?'"
in liquidation your assets would be stripped and sold as a means of repaying your debts, so whilst there will be a food chain os to who gets what atleast some would get something near their entitlement!!!
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| Quote ="HouriganTiger"in liquidation your assets would be stripped and sold as a means of repaying your debts, so whilst there will be a food chain os to who gets what atleast some would get something near their entitlement!!!'"
The only assets the club has are the players, who would be available for free.
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| Quote ="HouriganTiger"I'm sorry but i have to take the moral high ground here, how can a business that has contributed to it's own downfall, rack up it's own debts be allowed to just walk away form their responsabilities and commitments. how many S&M businesses will suffer as a direct result of your admin?
there is a part of me and i promise you this would be the same if it was Cas, that believes you should not be allowed to purposely walk away from their debts, crippling others in the process and be allowed a free lease of life under the guise of a new name/brand!!
you should suffer as much as your unpaid creditors and if it means a few years of hardship then sobeit. afterall the bill that is owed to the tax man who will pay that? you and me (well not me as i dont pay tax out here) but you get my drift.'"
Here we go... taking the moral high ground eh!
So can you point us in the direction of where you posted similar comments on the Crusaders board after their RFL sanctioned pre-pack? Have you written to your MP to complain about the current issue with Company and administrator law? What would your suggestions be for an alternative system? I have already suggested compulsory credit insurance for all companies who wish to limit their liabilities... but don't agree with it!
You are not taking any bloody moral high ground, you are just a bitter troll!
The clue is in the title... Limited Company!
Grow-up! It is always a shame when any company goes down owing even small amounts of money and it is always the smaller businesses that suffer, but business is business! And yes, it has happened to me and yes, it is rubbish, but I and the companies I knew know the risks and also we did have credit insurance that did pay-out for some of our loss!
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| Quote ="HouriganTiger"I'm sorry but i have to take the moral high ground here, how can a business that has contributed to it's own downfall, rack up it's own debts be allowed to just walk away form their responsabilities and commitments. how many S&M businesses will suffer as a direct result of your admin?
there is a part of me and i promise you this would be the same if it was Cas, that believes you should not be allowed to purposely walk away from their debts, crippling others in the process and be allowed a free lease of life under the guise of a new name/brand!!
you should suffer as much as your unpaid creditors and if it means a few years of hardship then sobeit. afterall the bill that is owed to the tax man who will pay that? you and me (well not me as i dont pay tax out here) but you get my drift.'"
I see where you are coming from and I agree with you I run a small business and been knocked 3 times by company's who have gone bust and they have started up again straightaway with just a small name change.Until the government change the law it will keep happening
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| As a Saints fan, may I just take the opportunity to offer sympathies with Wakey fans on this news. It is very tempting for other speccies to throw the boot in, but this misses the point in distinguishing between the obvious failings of the board as opposed to the loyal and steadfast support of the fans - the people who truly support and love their team.
WTWRLFC seem to have been run like a dysfunctional working mans clubs for a while now with a series of broken promises and failure to build on a small but steady core of support.
If, and in the world of RL, it is a big if, Wakefield are replaced at the end of this season, it would be good to see new owners abolish the ridiculous Wildcats moniker and rebuild their club from the grassroots up which I am not sure was ever done under Ted.
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| Quote ="HouriganTiger"in liquidation your assets would be stripped and sold as a means of repaying your debts, so whilst there will be a food chain os to who gets what atleast some would get something near their entitlement!!!'"
Great theory but a quick fire sale of assets from a club with no others assets than some players at the lower end of the league would mean even less money, that is why most parties would prefer admin to been liquidated! Now stop trolling and get back to living in a country with different laws which is built on borrowed money against oil and had a serious cash issue last year themselves!
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| Quote ="Khlav Kalash"The only assets the club has are the players, who would be available for free.'"
Khlav... don't bother mate, they can't see past the end of their noses some of these posters. They don't get that settlements may well have already been agreed and probably 40+ people keep their jobs. But apparently putting another 40+ people out of work as well as none of the creditors getting any money as well, is a more 'moral' deal!
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| I don't think playing contracts are voided through the act of entering Administration - given that the whole point of Administration is to try and save the business as a going concern. The Administrator can of course terminate any employee, but then the employee is entitled to his statutory entitlement backed by the state, and for the balance he ranks as a creditor. Unless a player's contract has a provision allowing the player to void the contract if an act of insolvency is committed (unlikely?) then I'd say the players remain under contract, and most would probably want to remain so so that their employment rights were preserved?
Players would presumably transfer to the successor club under the TUPE rules, with contrcats and employment rights carried over?
I'm not fully familiar with the situation with playing staff under an Administration, so if anyone can improve on that I'd be keen to learn too.
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| Sad day for the whole RL family, Hopefully thou this is the start of a new world.
Onwards and upwards you have the backing of all decent Rugby League fans.
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| Quote ="HouriganTiger"I'm sorry but i have to take the moral high ground here, how can a business that has contributed to it's own downfall, rack up it's own debts be allowed to just walk away form their responsabilities and commitments. how many S&M businesses will suffer as a direct result of your admin?
there is a part of me and i promise you this would be the same if it was Cas, that believes you should not be allowed to purposely walk away from their debts, crippling others in the process and be allowed a free lease of life under the guise of a new name/brand!!
you should suffer as much as your unpaid creditors and if it means a few years of hardship then sobeit. afterall the bill that is owed to the tax man who will pay that? you and me (well not me as i dont pay tax out here) but you get my drift.'"
In pre-packs where the buyer is the same in all but name to those who put the company in to administration i would agree with you. However when a company is sold to new owners after administration, it is simply a more pragmatic approach.
The options are the company gets liquidated and creditors get a pittance, the business is closed everyone involved loses their jobs or the company goes into administration, the creditors get a pittance but the business stays open and people keep their jobs and hopefully the business grows. I know which I would prefer,
Just because a business goes into administration doesnt mean there isnt a call for the product or the underlying fundementals dont have the potential to grow a successful business.
In this example, good luck to Wakefield. IMO it is a frustration that an area that so obviously has the potential to be a RL asset has for so long been an also ran, with internal division and infighting restricting the realistion of that potential, hopefully a clean slate will see this Wakefield move forward from strength to strength.
I also think people are being a little presupmtious that this will be the nadir for Wakefield in a similar way it has been for Widnes, there is nothing set in stone here, and it is probably 50-50 at the moment whether this is the beginning of a new dawn or the beginning of the end. Lets hope for the former.
One note of caution, When Leeds Utd went in to administration, the largest creditor ended up being a mysterious off-shore company which insisted the former owners regained control, and paid rent to a mysterious trust who owned the stadium, lets hope there is no similarities here.
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| Quote ="Adeybull"I don't think playing contracts are voided through the act of entering Administration - given that the whole point of Administration is to try and save the business as a going concern. The Administrator can of course terminate any employee, but then the employee is entitled to his statutory entitlement backed by the state, and for the balance he ranks as a creditor. Unless a player's contract has a provision allowing the player to void the contract if an act of insolvency is committed (unlikely?) then I'd say the players remain under contract, and most would probably want to remain so so that their employment rights were preserved?
Players would presumably transfer to the successor club under the TUPE rules, with contrcats and employment rights carried over?
I'm not fully familiar with the situation with playing staff under an Administration, so if anyone can improve on that I'd be keen to learn too.'"
I think employment law would rule, as you state, so unless they have some sort of termination clause in their contracts, which I doubt (why would you?), then TUPE would be used to bring the new employees over to the new company.
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| New Poster and Cas fan here.
Genuinely gutted to see this happen and hope everything works out for you guys.
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| Quote ="Disney cat"I see where you are coming from and I agree with you
I run a small business and been knocked 3 times by company's who have gone bust and they have started up again straightaway with just a small name change.Until the government change the law it will keep happening
'"
Its totally disgusting that high profile clubs should be allowed to walk away and reform days letter with 2 fingers to the creditors, whether that be medium or small companies, wages still have to be paid by these companies.
Hopefully by the time june/july comes writing will be written on wall for Crusaders and Wakefield. Fair is fair after all, Maybe coming down a League and getting your house in order is what is needed.
I do completley sympathise with the fans who pay good money to watch the BOD mismanage funds and badly manage their business.
Good luck in the future, whatever that might hold.
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