Post by Phooey on Nov 5, 2009 12:47:06 GMT
Wakefield Wildcats just avoid going into administration
Club given 84 days to pay off £194,000 debt
Published Date:
05 November 2009
By Emma Hakier
HUGE debts almost cost Wakefield Wildcats all of their nine lives this week.
The club was given 84 days to pay £194,000 at the High Court in London yesterday.
Had Mrs Registrar Derrett not adjourned winding up moves, the club would have had to hand its affairs over to an official receiver.
The court heard how a 'very substantial payment' had reduced the club's debt from £353,000 to £194,000.
In a statement released last night, Wakefield Trinity Wildcats confirmed they had reached an agreement with Her Majesty's Revenue and Customs (HMRC) concerning their tax liabilities.
Executive director Diane Maskill said: "We agreed a payment plan with HMRC in September concerning the club's tax liabilities.
"At that time a timetable for the club's repayments was agreed and Wakefield Trinity Wildcats have stuck rigidly to that agreement.
"Wakefield Trinity Wildcats will meet all their liabilities under the payment plan and expect that the debt will be paid off in full within the agreed timespan.
"Today's hearing simply ratified the position as agreed with HMRC as far as the club is concerned."
She said the club had no further comment to make on this matter.
www.wakefieldexpress.co.uk/news/Wakefield-Wildcats-just-avoid-going.5797989.jp
Club given 84 days to pay off £194,000 debt
Published Date:
05 November 2009
By Emma Hakier
HUGE debts almost cost Wakefield Wildcats all of their nine lives this week.
The club was given 84 days to pay £194,000 at the High Court in London yesterday.
Had Mrs Registrar Derrett not adjourned winding up moves, the club would have had to hand its affairs over to an official receiver.
The court heard how a 'very substantial payment' had reduced the club's debt from £353,000 to £194,000.
In a statement released last night, Wakefield Trinity Wildcats confirmed they had reached an agreement with Her Majesty's Revenue and Customs (HMRC) concerning their tax liabilities.
Executive director Diane Maskill said: "We agreed a payment plan with HMRC in September concerning the club's tax liabilities.
"At that time a timetable for the club's repayments was agreed and Wakefield Trinity Wildcats have stuck rigidly to that agreement.
"Wakefield Trinity Wildcats will meet all their liabilities under the payment plan and expect that the debt will be paid off in full within the agreed timespan.
"Today's hearing simply ratified the position as agreed with HMRC as far as the club is concerned."
She said the club had no further comment to make on this matter.
www.wakefieldexpress.co.uk/news/Wakefield-Wildcats-just-avoid-going.5797989.jp