Friday, March 04, 2011

4 March 2011: High Court

Plymouth Argyle Enter Administration - latest from Matt Slater's Twitter. Updates include the fact that the Directors voted for Admin, therefore they appointed the administrator... their barrister then related that fact to the court as it continued in session. Presumably this was to pre-empt HMRCs actions of appointing their own administrator. The court then denied the HMRC petition, so that's that for the day in court.

Brendan Guilfoyle, the Administrator favoured by the Argyle board, arrived at Home Park around 2pm. He's done other football-related admins - most notably Crystal Palace - so does seem to be a good choice. Would appear that HMRC's actions got Argyle into admin, but not with the administrator the taxman would have ideally liked.

Still, it's the next step in the process. Maybe the mess that is the current Board of Directors can get cleaned up without destroying the club in the process...

Earlier Post:
Argyle somewhat surprised to be in the High Court today.

Yesterday one of the PASOTI spods found Argyle were listed as appearing there today, rather than next week (for appointment of administrators or otherwise) but instead HMRC (UK taxman) took them to court today to see if (1) they could get a new winding-up order issued and (2) if they could get the court to appoint their favoured administrator rather than Argyle's. (See the Pompey scenario for why HMRC don't like other people's administrators).

As I write, HMRC have told the court that one way or another Argyle will be in admin by end of day, and the hearing has been adjourned until 2pm UK time (9am over here... 15 mins from when I write this).

More one for twitter than blogger I think - Matt Slater covering for BBC, and a good overall search here.

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