Administration Bid Delayed

This week’s local press reports that Motherwell’s bid to come out of administration has been delayed by a forthcoming court battle against Customs and Inland Revenue.  When the club went into admin, the Inland Revenue had to be treated as a preferential creditor and be paid every penny owed to them before a dividend was set up for other creditors. However, a new Enterprise Act might mean that the Inland Revenue aren’t preferential any more.  Bryan Jackson is quoted as saying:
“We had a draft scheme of division that was meant to go out last month but because of the new Enterprise Act our solicitor said that the Customs and Inland Revenue aren’t preferential any more.

“We have discussed this with Inland Revenue and Customs, and we have all agreed that the best thing is to go to court for directions and I have been told by my solicitor that we need directions and we can’t just pay out.

“It’s unfortunate because it delays matters but it could get more money for the general pool of creditors.  We would hope to get a court date this month and once we get that out of the way we can proceed.

“We are losing probably at lest six weeks because of this.  The proposal will go out to creditors probably at the end of January or beginning of February, so it means it could get finalised closer to March or April.”

Jackson went on to say that there could be more money in the pot for the sacked players if the Inland Revenue do not have to be paid in full:
“We looked at the players claims and they are more or less all agreed and adjudicated on.  They will get so much in the pound like the other creditors.”

The BBC are reporting that frozen out Dundee United defender Gary Bollan is expected to sign for us tomorow.

The Official Site has a short interview with Terry Butcher where the ‘Well boss looks ahead to the second half of the season:
“With Pearson out and Leitch and Hammell only 1 game away from a suspension we needed to look at the depth of the squad, and also provide competition for places. I believe we have done as well as we could do for a club still in adminstration.  I am quite excited as I look forward to the second half of the season with the squad of players we have got, with the experience of O’Donnell and the style of McDonald along with young prospects like Quinn coming on.”

On the subject of McDonald, TB went on to say:
“He’s a stocky, strong striker whose quick with a good right foot. He started out with Southampton before Gordon Strachan let him go and he’s been to clubs like Wimbledon and Huddersfield. He is also captain of the Australian Under 20 side that recently beat Brazil in Dubai.

“He holds a British passport and has family in East Kilbride. He’s a lovely kid and a good pro and he did well for the Under 21s on Wednesday against Dundee.

“The best way to describe his style is that he is similar to Dougie Arnott, he gives us somehting we don’t have at the moment as he can hold the ball up and back into defenders. If he has a career anything like Dougie I’ll be delighted!

“He’ll be in the squad for Saturday but he still needs games to get up to full fitness, we have a couple of Under 21 games next week which should help.”

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