Newest Winding up Order

wanderlust wrote:He was on the radio a few weeks ago and during the course of the interview mentioned that the idea of taking on a northern club "where the club is almost like a religion to the fans" was an interesting challenge, so this might not be as far-fetched as it at first seems.

He didn't mean armchair religion.

The HMRC debt was over £2 million so that's a chunk gone.
Still no sign of breaking even if Ken's still selling assets to cover running costs, but we'll have to wait and see if and when recent accounts are published.

Norpig wrote:Well at least we know where some of the Madine money has gone now.

Maybe not!

Tweet from Iles -

I understand the HMRC debt was paid by Wanderers a few weeks ago (mid-January) just to temper some of the conspiracy theories. #bwfc

I don't care where it came from, Its paid.

Sluffy wrote:

Norpig wrote:Well at least we know where some of the Madine money has gone now.

Maybe not!

Tweet from Iles -

I understand the HMRC debt was paid by Wanderers a few weeks ago (mid-January) just to temper some of the conspiracy theories. #bwfc

He's a good man is uncle Ken.

COMMENT: Wanderers pay HMRC tax bill - let's get back to talking football

WANDERERS are officially straight with the taxman – and long may it continue.
Deputy registrar Tina Kyriakides dismissed the latest, and hopefully last, winding-up petition from HMRC at a Companies Court hearing in London this morning.
Detail on the size of the debt was scant, although we know part of the reason for the petition being delayed and adjourned for the last few months had been because Ken Anderson successfully haggled down a ‘bond’ which had been requested by the Inland Revenue as security against future payments.

We have also learned the bill was paid in full a few weeks ago, and was not linked with the recent sale of Gary Madine to Cardiff City.
Ever since the true scale of Wanderers’ financial problems first came to light at the end of 2015, under the previous regime, the club’s loyal fan-base has had to undergo a crash course in accountancy to get to grips with what was happening at their club.
But whether they like it or not, the ordeal has changed it forever.
Phil Parkinson spoke earlier this week about progression, investment in young players, building up the financial base once again. Yet even he admitted the Whites would have to generate cash through player sales, as they have done with Madine, to achieve stability.
Wanderers are no longer bankrolled in such a way that they can ignore big offers, as they had in the past. We will only know at the end of the season what effect the timing of Madine’s sale had on the club’s fortunes. At the very least, funds raised should guarantee there are no further financial problems to act as a distraction.

If Bolton are to progress in the way Parkinson hopes then the first step is to secure Championship survival against the odds; no mean feat, but entirely possible with the kind of gutsy performance we witnessed at the Macron against Bristol City on Friday night.
After that, Anderson has bigger financial challenges to face over the summer.
It would be a brave man to back against the Wanderers chairman and his advisors, who have thus far come up trumps. Some may question his methodology in cutting costs and overheads, yet few can doubt its effectiveness.

The club’s financial accounts – currently being prepared – should make interesting reading and may give an indication of how extensive Anderson’s rebuilding job has been and where Madine’s funds may be needed.
Questions about a potential sale will also be posed, especially if Championship football is guaranteed. But they can be put on hold for now.
Right now fans will settle for not seeing the name of this grand old football club on a court list again. Pack your accountancy textbooks away, it is finally time to concentrate on the football.

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Sluffy wrote:COMMENT: Wanderers pay HMRC tax bill - let's get back to talking football

WANDERERS are officially straight with the taxman – and long may it continue.
Deputy registrar Tina Kyriakides dismissed the latest, and hopefully last, winding-up petition from HMRC at a Companies Court hearing in London this morning.
Detail on the size of the debt was scant, although we know part of the reason for the petition being delayed and adjourned for the last few months had been because Ken Anderson successfully haggled down a ‘bond’ which had been requested by the Inland Revenue as security against future payments.

We have also learned the bill was paid in full a few weeks ago, and was not linked with the recent sale of Gary Madine to Cardiff City.
Ever since the true scale of Wanderers’ financial problems first came to light at the end of 2015, under the previous regime, the club’s loyal fan-base has had to undergo a crash course in accountancy to get to grips with what was happening at their club.
But whether they like it or not, the ordeal has changed it forever.
Phil Parkinson spoke earlier this week about progression, investment in young players, building up the financial base once again. Yet even he admitted the Whites would have to generate cash through player sales, as they have done with Madine, to achieve stability.
Wanderers are no longer bankrolled in such a way that they can ignore big offers, as they had in the past. We will only know at the end of the season what effect the timing of Madine’s sale had on the club’s fortunes. At the very least, funds raised should guarantee there are no further financial problems to act as a distraction.

If Bolton are to progress in the way Parkinson hopes then the first step is to secure Championship survival against the odds; no mean feat, but entirely possible with the kind of gutsy performance we witnessed at the Macron against Bristol City on Friday night.
After that, Anderson has bigger financial challenges to face over the summer.
It would be a brave man to back against the Wanderers chairman and his advisors, who have thus far come up trumps. Some may question his methodology in cutting costs and overheads, yet few can doubt its effectiveness.

The club’s financial accounts – currently being prepared – should make interesting reading and may give an indication of how extensive Anderson’s rebuilding job has been and where Madine’s funds may be needed.
Questions about a potential sale will also be posed, especially if Championship football is guaranteed. But they can be put on hold for now.
Right now fans will settle for not seeing the name of this grand old football club on a court list again. Pack your accountancy textbooks away, it is finally time to concentrate on the football.

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Just stick £6M on Bolton to survive uncle Ken, that would give us enough money to pay off the outstanding BM debts.

Another Winding up order has been served by hmrc

BoltonTillIDie wrote:Another Winding up order has been served by hmrc

They'll be coming thick and fast until Anderson does one. 
You heard it first hear - about 2 years ago.

Just in case you're having trouble keeping count, this is the 6th winding up order in 16 months.

wanderlust wrote:Just in case you're having trouble keeping count, this is the 6th winding up order in 16 months.

And Ken has managed to pay them all. Thanks Ken.

DEANO82 wrote:And Ken has managed to pay them all. Thanks Ken.

Yes but who's money did he use? that well is now dry.

And the last installment of the EFL TV money has gone to pay the last load of creditors.

DEANO82 wrote:

wanderlust wrote:Just in case you're having trouble keeping count, this is the 6th winding up order in 16 months.

And Ken has managed to pay them all. Thanks Ken.

Tick tock......

MartinBWFC wrote:

DEANO82 wrote:And Ken has managed to pay them all. Thanks Ken.

Yes but who's money did he use? that well is now dry.

That would be Eddie Davies who was the owner of the club when we faced a winding up order over unpaid tax during the Lennon relegation season.
It's strange that Mr Davies wouldn't pay his own bills but later apparantly tipped up to help Ken pay his.
Perhaps after leaving Mr Davies felt guilty about his conduct as the owner in the final few months and also regretted selling it on to the person he did.

Growler wrote:That would be Eddie Davies who was the owner of the club when we faced a winding up order over unpaid tax during the Lennon relegation season.
It's strange that Mr Davies wouldn't pay his own bills but later apparantly tipped up to help Ken pay his.
Perhaps after leaving Mr Davies felt guilty about his conduct as the owner in the final few months and also regretted selling it on to the person he did.

It'll be an interesting few weeks when wages, HMRC, and ED's money is due to be paid, can't see where slimeball will find it all, he certainly won't be using his own personal wealth, like I say we need to watch this space.

Just seen this on the BBC website, back in court on the 20th March

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