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#Post#: 155--------------------------------------------------
Memorandum and Articles of Association
By: elmofudd Date: July 5, 2016, 10:27 am
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So who is going to analyse the changes in the new articles filed
on 27 Jun 2016 from the originals filed on 22 Dec 2009?
Doesn't look like Annual return due January have been submitted
yet either.
#Post#: 156--------------------------------------------------
Re: Memorandum and Articles of Association
By: hadderz Date: July 5, 2016, 11:34 am
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With a casual quick read, the bottom of page 12 and into 13
makes very ominous reading for any United fan
#Post#: 157--------------------------------------------------
Re: Memorandum and Articles of Association
By: mememe78 Date: July 5, 2016, 1:07 pm
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What does it all mean in laymen's terms?
#Post#: 158--------------------------------------------------
Re: Memorandum and Articles of Association
By: Unicorn Date: July 6, 2016, 3:18 am
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Not sure if the club would have to do an annual return as it is
still in receivership.
#Post#: 159--------------------------------------------------
Re: Memorandum and Articles of Association
By: jockeyclub Date: July 6, 2016, 12:14 pm
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in short yes annual return should be filled
or in detail
The directors of a company in receivership must continue to
carry out their statutory duties during the receivership to
ensure the corporate compliance of that company. Failure to
file annual returns and accounts whilst the company is in
receivership will result in penalties accruing at the rate of
€1,200 per annum and the company and its officers will be at
risk of prosecution or other enforcement action being taken
against them.
Once the status of a company changes from “Receivership” to
“Normal”, if the annual returns and accounts were not filed
during the receivership, backdated penalties will automatically
apply, with a penalty of €100 due on the day after the expiry of
the filing deadline and a further pentalty of €3.00 for each
subsequent day until the outstanding annual returns and accounts
are filed.
Should the status of the company change from “Receivership” to
“Liquidation” then the requirement to file outstanding annual
returns and accounts no longer applies as the powers and
authority of the directors and company secretary immediately
cease.
#Post#: 160--------------------------------------------------
Re: Memorandum and Articles of Association
By: fluff Date: July 6, 2016, 2:16 pm
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Reading through to the end does this mean the directors have a
legitimate right to travel expenses when going to away games
including mileage, food and overnight stays in hotels?
#Post#: 161--------------------------------------------------
Re: Memorandum and Articles of Association
By: jockeyclub Date: July 6, 2016, 3:29 pm
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They can carry on doing that,,,,,,,,,the bit i cant work out is
how do AUFC ltd turnover enough money to afford to remain in
receivership for so long, receivers charge in exes of £200 an
hour, its costing someone a lot of money they will never see
again
#Post#: 162--------------------------------------------------
Re: Memorandum and Articles of Association
By: elmofudd Date: July 6, 2016, 4:36 pm
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And I very much doubt they are asset stripping .
#Post#: 167--------------------------------------------------
Re: Memorandum and Articles of Association
By: hadderz Date: July 9, 2016, 2:33 pm
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[quote author=mememe78 link=topic=25.msg157#msg157
date=1467742066]
What does it all mean in laymen's terms?
[/quote]
The crux being that once upon a time if the club was wound up (
or sold) the outstanding balance in the accounts (or profits
from the sale) would be left in the hands of the trustees to
oversee the long term future of the club.
The changes now mean that all moneys left in the account find
their way into the pockets of the nasty midget, all to the
detriment of any phoenix club and football in Ashford.
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