Neil Lennon at a loss to explain lack of transfer funds

Breadman wrote:Cheers Rammy.

So you're basically saying we've had Viv Nicholson in charge for years and it's no surprise we are where we are.

Mega......

Yeah- better than Viv Anderson though!!

Natasha Whittam wrote:

rammywhite wrote:
The real problem might be HMRC should there be any liability for unpaid PAYE,VAT or NICs- they won't hesitate to put the boot in and wind the club up

Is that true though. Hardly a week goes by without some club facing a winding up order, but how many are actually wound up? Hardly any over the last 5 years.

In the commercial world it happens with monotonous regularity.
And some minor clubs have gone under because of HMRC activity, but you're right in that no major club has folded as someone has come along and paid the debts for the club.
Some clubs have done what's known as hive-downs where they've transferred the assets quickly to a new company  and left the debts behind in a shell company with no assets.
Watch out for the formation of BWFC (2016) Ltd.
But their ability to borrow is zero

Cheers for all this, Rammy.

I could have done with your explanation about three years ago.

It would have saved me a load of pointless speculating and head scratching.