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FenwayFrank

Winding up order

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What does this actually mean though?First step towards bankruptcy?Or just the meaningless dissolution of a limited company?

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According to Companies House, their assets went up from £4.7 million for 2014, to £17.5 million for 2015. So some of those free transfers actually were worth money. 😄

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Still, they have their history.[URL=http://s869.photobucket.com/user/mortymccarthy/media/167896_482887630876_6807021_n_zpsba29aa46.jpg.html][IMG]http://i869.photobucket.com/albums/ab257/mortymccarthy/167896_482887630876_6807021_n_zpsba29aa46.jpg[/IMG][/URL][URL=http://s869.photobucket.com/user/mortymccarthy/media/Untitled_zpsc1ad4b1e.jpg.html][IMG]http://i869.photobucket.com/albums/ab257/mortymccarthy/Untitled_zpsc1ad4b1e.jpg[/IMG][/URL][URL=http://s869.photobucket.com/user/mortymccarthy/media/f44314540_zps8bjmnqko.gif.html][IMG]http://i869.photobucket.com/albums/ab257/mortymccarthy/f44314540_zps8bjmnqko.gif[/IMG][/URL]

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According to their last accounts they are insolvent to the tune of £66 million. They owe Evans various companies nearly £100 million.

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https://s3-eu-west-1.amazonaws.com/document-api-images-prod/docs/StlpukzLn9ffyzdcHTcq6ic4Jql0FiNpuVnjjyBHgY0/application-pdf?AWSAccessKeyId=ASIAIC7ROXAZSB3AGD5Q&Expires=1456085991&Signature=OkrZfNEEO2rLUtY19n7e2txworU%3D&x-amz-security-token=AQoDYXdzEBoa4AO3yyxXVGwBnujOeTKzeXrxfxkVxyKNsP7ugaPzU7lMaXAGveKSSOBNfyNUqGcoLo7bzckl0FFlGGpTUIZdbPQhpYRChaM6WksscijW0yraqpWGtjygV5PLF%2FU0hpqmq1N5nqsNHhIPons4lamqJTm5oB7eHgLTZgtAmdtAeeGyJEqUPBxtwiChob4q5LFLuW7SGTAw1cSocADKvZwgZdhSO0bmjsQ4jL0ssBPL1fhcQDGxnzM41ny0Jy35KZYOLJT90VAFihpKKZR6owHU3hhvkrVXThbeNWFZ5%2FIg17MglMnTd%2BfpstwqJ9NGTgKLOU61RU46AvgCozSpsNun6p87mPw7OuQH606kRXH6rFlBGKaBo%2FBw8K3AbvdKAhHuLIm%2BklvVvySUVgkUOk0eObOdRy%2FHXXYIsW5vWrqwvmmvSsUUcSRvR%2BsYmWtUwJicLn1Xineq%2F067TMq5ts5Fc235VAzoxFhrJiSxQ3deUKwGltGgyaCghgUfOhHWTZwQ15S7NnydaZBIKgRGhAT9cnlZotvZuWPo9bY6NwMYapDgWZ06PDQ2VWtBEu4392D3Zl%2B2SlgfDaM22bT5L%2B6gGZDYPXPAeztAt404OlWuhxcTVgEaLVrSfDmCwE73uojZ9DIg0tqntgU%3D

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[quote user="YellowBlood"]https://www.youtube.com/watch?v=SL8honNpOr0

I''ll just leave this here.[/quote][:D]

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[quote user="FenwayFrank"]Number 47. 😀

https://www.justice.gov.uk/courts/court-lists/list-companies-winding-up[/quote]Oh no! They''ve got "Purple Overseas Investments Limited" on that list too. (35) [+o(]

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As much as we''d love to see this happen, I honestly don''t there''s anything in this at all. If there were issues such as a large tax bill owed to HMRC or issues relating to unpaid wages then we''d have heard about them long before this.

What''s more likely is that Ipswich are winding up or liquidating one of the now defunct companies which was formally used as a holding company to run the club.

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It doesn''t look defunct to me...

https://beta.companieshouse.gov.uk/company/00315421

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I suspect someone has an unsatisfied judgement against Ipswich and they have been tardy in clearing it.

The likely hood is that they will clear the judgement and the matter will go away

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Well whatever it is, it''s happening at 10:30am

http://windinguppetitionsolicitors.co.uk/insolvency-lawyers-london/companies-court-winding-up-list-22-02-16/

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Situation came about I suspect by a couple of scenarios they are running the business with to low cash reserves which means they are prioritising what debt they pay first or their has been an admin screw up somewhere

Either way it doesn''t reflect will on our cousins down the A140

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An indication of things to come for that debt-ridden outfit.

They can continually call it whatever they like, and the "it doesn''t really count as it''s an internal debt" brigade continue to fool themselves.

Dress it up any way you wish Tractor Boys, a debt is a debt and it will never go away.

It means that they are stuck in the Championship indefinitely as when push comes to shove there is never enough money available to give to the manager for strengthening the squad. Two seasons running now McCarthy has got them, by agricultural means, into a decent position by the New Year and two times running they are unable to buy that extra bit of quality to enable them to push on.

They run at a seemingly disproportionate loss and one has to consistently question Evans''s motives, because to the outsider it would seem that he is just squandering his hard-earned cash in order to keep a sinking ship afloat.

They have few assets apart from the playing squad. The local council owns the ground and Marcus Evans owns the training ground.

That club currently exists on very thin ice ad is now totally dependent upon the ''whims'' of one man and his team of accountants.

This latest development is just, imo, the beginning of what will turn out to be a series of financial embarrassments for the club.

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