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Post by Claret & Blue Army on Feb 8, 2005 11:44:03 GMT 1
Public Notice
Newcastle KBS Vipers Ltd
the insolvency act 1986
Notice is herby given persuant section 98 of the insovency act 1986 that a meeting of the creditors of the above named company will be held at north east east tax 33 cockton hilll road bishop auckland cty durham DL14 8PH on the 15th Feb 2005 at 11.15
For the purpose mentioned in section 99-101 of the said act.
The list of the names adresses of the companies creditors maybe inspected free of charge at bwcbusiness solutions 8 part place, leeds LS1 2RU between 10am and 4pm on the 2 business days preceeding the day of the meeting. By order of the board Darryl S Illingworth Director.
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Carpo
Post-Happy
Posts: 596
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Post by Carpo on Feb 8, 2005 12:53:46 GMT 1
Rumour has it that an investor wants the team but not the debt.
It's not the cleanest way of doing but i understand why they are....
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Post by Claret & Blue Army on Feb 8, 2005 21:16:14 GMT 1
An investor wouldn't want the debt. It is the same with many companies who buy into other failed business by buying the trade and assets for a knock down price but don't take the liabilities.
Given that this is not the first time a Newcastle team hits the skids and leaves creditors owed money does anyone really think they will be allowed to enter a team into the Elite league next year? Until someone creditable with a long term investment is prepared to buy into a team at Newcastle then the sport could be lost to them up there completely. Besides which surely they are running out of names to call their teams now
Found this almost head in the sand cutting
Investment will save Vipers Feb 8 2005
By Miles Starforth, The Evening Chronicle
Newcastle Vipers are closing in on new investment which will safeguard the club's future.
Fans yesterday voiced fears the Vipers were again in trouble when an advert was placed in the Chronicle drawing attention to a creditors' meeting next week.
However, Newcastle's future is looking more secure than ever with two sets of investors keen to see the Vipers step up to the Elite League.
Illingworth's intention is to step aside once the club's future is in safe hands, with the stress of bringing hockey back to Newcastle having taken its toll on his health.
An insider said: "Both investors want to take the club into the Elite League. There are still several creditors from the first season, but the club has made huge strides since then and the future is very exciting."
A statement was made yesterday by one of the investor's solicitors. It read: "Darryl Illingworth has taken the club as far as he can.
"Outside investors are looking at the finances of the club and addressing the current situation. Their intention is to attend the creditors meeting in an attempt to take the club forward, unfortunately the investor is out of the country and is not available for comment now."
The creditors meeting in is being held in Bishop Auckland next Tuesday, and anybody owed money has been asked to attend.
One of those interested in investing in the club is former Durham Wasp Paddy O'Connor.
Meanwhile Vipers' general manager Clyde Tuyl paid tribute to Newcastle's fans ahead of their BNL clash with Bracknell Bees on Thursday (7.15).
The Vipers have seen an increase in attendances at the Arena, and Sunday's visit of Elite League Nottingham Panthers drew 1,744 fans.
Tuyl said: "The attendances recently have been very positive for the club. We have seen quite an encouraging increase in the amount of people coming through the doors.
"For BNL games we have seen a steady average crowd of about 1,300 since Christmas and that is positive for the future."
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