There might be, if the agreement contained clauses that rendered it void or voidable should the club enter into any form of insolvency - not uncommon - I write such clauses into every contract I draw up. That said, I would doubt it would be in the chargeholder's interest to want to change anything for 2011?

[url=http://www.redpassion.co.uk/forums/crusaders-rugby/63676-w-crusaders-ltd.htmlThe pre-pack at Wrexham/Crusaders meant the previous ones remained[/url

Your right it's bad news, but let's be 100% honest if it was cas you wouldn't give a flying , would you?
Taking the moral high ground is ok if your pontificating!!!
And by the way the doesn't mean taking a dump in ponte, you muppet!!

What goes around mate,

Booked to go to Cardiff and will go cos of the money we have spent. I have a season ticket but if the current regime remain in charge in any way after administration then I don't think I could face going knowing full well the club will never move forward. I find it hard to believe that in one breath somebody can ask Joe Bloggs for half a million and then set up again in another guise and think that the supporters would support it. I really do think people will vote with their feet. Never been as fed up as a Wakey supporter.

Good point. Don't think it'll come to that, but I completely agree with the sentiment.

i think we must be the only shareholders (and fans) who are hoping that a company goes into administration!!!

bring it on and lets move on.

fingers crossed is parkin. and if so ferris. he is just what we need at this moment in time.

Reading your last post and this I would hope that all Wakey fans pray for the wind to change before Monday!

Bear in mind that any pre-administration discussions can only take place with the prospective Administrator. But also bear in mind that it is common for an insolvent company to have been working with an insolvency practitioner (or firm) prior to the formal act of insolvency. Also, pre-pack deals invariably reflect the business assets etc being sold on to a new entity, but the company itself remains in administration - at least until the administrator secures a discharge and a liquidator is appointed.

Otherwise, you are not far wrong with your (albeit simplistic) summary. Pre-packs are all set up before the event, ready to rock as soon as the Administrator is appointed.

My personal opinion is that they are used far too often as a means for the existing management to free the business of debt and screw the creditors, and for that reason I hate the bloody things. But there are counter arguments, and a couple of years ago I attended a seminar given by one of the pre-pack pedallers that put forward some fairly persuasive such arguments.

This is a real worry; Ted has appointed the administrator (O'Hara's) and potentially, got a sympathetic investor on board. In theory he could go into admin with a pre-pack all ready to go, work with the sympathetic investor to buy the club out of administration and hey presto - WTW is reborn, as dysfunctional and hopeless as before, with Richardson tendrils all over it.

Want to change at the club in the board room and if administration is the best way then so be it but I do feel sorry for the local businesses, some small ones I'm sure, that will lose money when they need it.
Can't think WTW has a good name to work with anyway but def not now.

But we've been told we have 4 potential suitors for the blushing bride-to-be, which seems to rule out the idea of a pre-pack.

We don't really know who's owed what, but I agree with you, if there are any small local businesses on the list, this will be bitter, and could potentially see them end up in the same place. Not something that fans or anyone associated with the club should feel happy about.

if we are talking about sponsorship I can't see why they can't be honoured by a new owner

would heal the wounds left by the present regime

O'haras will do what's best for the creditors, but with the long term benefit of the club. I can well imagine who out of the four, the sympathetic investor may be, but I think the searious investors, Parkin or France will be the eventual winners.

When will we find out what happened at Red Hall,the suspense is killing me!

monday has been mentioned on here alot but today someone told me wednesday, so lets say next week

It will have had something to do with updating the RFL on the situation, something to do with us not being able to register any players, and something to do with something else. I don't know when you'll find out about it, though, or if you ever will.

I would have thought it would be something serious to hold a meeting on Saturday night!

The original post was made on Friday

Just be aware...the reason behind the administration process is to try to save potentially-viable businesses as a going concern - that in the past would almost certainly have been broken up or wound up through the effects of the receivership and/or liquidation processes and Crown Preference.

This means that, whilst the interests of the creditors remain paramount, the interests of other stakeholders (including the employees) are also important and the over-riding objective is to save the business as a going concern.

Wonder who the biggest creditor is…

Bound to be HMRC.

Almost always is with sports clubs (apart from the owner).

the church near belle vue used to offer meals, special dietary needs for players, conference rooms etc and were owed an amount of money when Trinity went into administration in 2001 - this money was just to cover costs and the church saw it as doing a good turn in the community at no risk to themselves or the other more important services they do in the community around Belle Vue.

So, Wakefield Trinity went into administration and as part of recovery plan was to pay 1p in to the pound for all outstanding debts. The church, hard up and finding that they would have to cut corners on more important community work complained and refused to accept it, intending to go public and stop the deal - at which point the club put pressure on the church by essentially letting them know that if wakefield trinity go out of business they would make it known which creditor in the community had forced them out of business.

The church no longer does business with WTW, the volunteers who help out at the church were disgusted with the behaviour of Wakefield Trinity and at least one of them (whom I heard this from many years ago) is finding it very difficult to have any sympathy for their current plight, he also finds it difficult to square this incident with their claims of being a community club.

I swear to god this person is not me, I'm closer to Richard Dawkins than anything with my religious outlook, but it's worth bearing in mind some of the victims in the whole administration shenannigans

I could also mention how Leeds United and Ken Bates shafted St John's ambulance service with their admin...

It's not always businesses trying to make money that suffer, it's charitable organisations just trying to cover costs whilst providing an important service that also suffer

Didn't SRW change his donation fto being a loan, this makes him a fairly significant creditor as well