Sent in great haste from a mobile phone
<div>-------- Original message --------</div><div>From: Leeds United Supporters
Trust <chair...@lufctrust.org> </div><div>Date:13/02/2015 20:44 (GMT+00:00)
</div><div>To: John <j...@boocock.net> </div><div>Subject: LUST Statement:
Leeds City Holdings </div><div>
</div>Leeds United Supporters Trust Statement
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Trust Statement: Leeds City Holdings
The Leeds United Supporters’ Trust was both surprised and dismayed to learn of
the winding up of Leeds City Holdings (LCH) yesterday (Thursday February 12,
2015).
The former ‘parent’ company of the club and current 5 per cent shareholder was
placed in the hands of the HM Official Receiver over an outstanding amount of
£45,000 owed to Mark Taylor, former legal council and Leeds United Director.
Our understanding is that the Receiver will assess all LCH debts and assets. If
no further action is taken, the Receiver has the right to sell company assets
to pay creditors, and to terminate the employment of both directors and
employees of the company.
While it is important to remember the above holds for LCH and not the club,
Leeds United is a main asset of LCH – and so the Receiver could potentially
sell the club from its current owners.
Following expert consultation, the Trust understands there are three potential
avenues to avoid this:
1. The company (or anyone else) can apply for the winding up order to be
rescinded if the court did not have all the relevant facts when making its
decision. Application should be made within seven days of the order being made.
2. The company can appeal against the winding-up order. As a result of an
appeal, the court can rescind the winding-up order, or otherwise vary its
decision. An appeal should be made within four weeks of the order being made.
3. Liquidation proceedings can be 'stayed' (ie. stopped), permanently or
temporarily, on the application of the liquidator, the Official Receiver, a
creditor or a shareholder. If liquidation proceedings are stayed permanently,
the directors usually regain control of the company. An application to stay the
liquidation proceedings can be made at any time after a winding-up order has
been made.
While option three would appear to have no time constraints, if four weeks pass
and options 1 or 2 have not been exercised, it is unlikely that proceedings can
be stayed.
The Trust finds it disappointing that the situation has been allowed to get
this far, providing further instability to the club. We encourage current
Chairman Andrew Umbers to address the matter as soon as possible, so we can
once again concentrate on the footballing side of Leeds United without further
distraction.
Chairman & the Board - Leeds United Supporters Trust
Supporters can also join Trust members and other Leeds fans and have their
voice heard as members of the Leeds United Supporters’ Trust by filling in the
form at www.lufctrust.org. Membership is free.
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John 'Grampa' Sykes
Rest In Peace old lad
28th Oct 1938 - 12 Nov 2013
MARCHING ON TOGETHER