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Monday, 7 January 2013

Salford Reds Winding Up Petition Hearing Adjourned

Today the Salford Reds had another reprieve when the winding up hearing was adjourned as the club hopes to find a buyer.

In reaction to the decision, a club statement read:  "This additional time has been granted following careful consideration of the current position regarding new investment into the business.
"All concerned parties agreed that there was a real possibility that a positive conclusion could be reached and that this would be preferable to the execution of the lodged winding-up petition."  Salford are in debt to the tune of £600k and Salford Council turned down a rescue attempt.

HMRC, who are thought to be owed around £300k along with some unpaid wages from players launched the winding up petition.

So how is it possible to adjourn a winding up petition?  Click on the link and go to our website.

We work closely with a lawyer who can act very quickly.  Call us for details.

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