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Sheff Wed issued with winding up petition from HMRC


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Guest icemanblue

They should of spent they're money more wiser.

 

Jesus.

 

:lol:

 

Yeah, just what I was thinking.

 

Oh, and woosh.

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Guest guinness_fiend

So, they just owe money to HMRC? 

 

A winding-up petition is a formal petition to the court to request the compulsory liquidation of a company.  Many firms issue them as threats when a company refuses to pay what it owes.  It doesn't necessarily mean that the club will be wound up. 

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Guest johnson293

So, they just owe money to HMRC? 

 

A winding-up petition is a formal petition to the court to request the compulsory liquidation of a company.  Many firms issue them as threats when a company refuses to pay what it owes.  It doesn't necessarily mean that the club will be wound up. 

 

Aye... just look at Portsmouth.

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Guest ObiChrisKenobi

Bad times. Worse than Portsmouth if they are subject to a similar fate. For some reason Wednesday is a club i've never really minded.

 

Chris Waddle! Bart-Williams! What isn't to like about early 90s Sheff Wednesday  :aww:

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Guest guinness_fiend

So, they just owe money to HMRC? 

 

A winding-up petition is a formal petition to the court to request the compulsory liquidation of a company.  Many firms issue them as threats when a company refuses to pay what it owes.  It doesn't necessarily mean that the club will be wound up. 

 

Aye... just look at Portsmouth.

 

And look at the thousands of businesses nationwide, because that is what Sheffield Wednesday is - a business, that get such petitions thrown out of court each month.  The courts consider it a remedy of last resort.  Despite the recession, most businesses that have gone under have done so voluntarily rather than been forced to by the courts.

 

Do you have any idea how many winding-up petitions go through the courts each week?  Thought not.  It's a commonly-used tactic to get a company to pay-up, as it puts the said company's creditors on notice of a potential inability to pay its debts.  The form that gets submitted to the court is a one-sided document and you have to produce very little in terms of evidence.  Obviously, HMRC will have iron-clad evidence of Sheff Wed's failure to pay what it owes, but that is beside the point - it doesn't mean that they're insolvent.

 

I'm not saying that the club *aren't* in trouble, but a petition submitted to court and compulsory liquidation being ordered by the court are two entirely different things.

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