Wednesday, July 16, 2014

Update From Hereford United's Insolvency Practitioner

BN has received this update from Marc Landsman who has been apppinted as the IP (Insolvency Practitioner) for Hereford United.

 I am the Licensed Insolvency Practitioner instructed to assist the directors in the preparation of the Company Voluntary Arrangement proposal to creditors and to deal with the various meetings for its consideration.  At the moment the proposal is being drafted based on the financial records held by the company, if your readers want to make sure that they are on the list of creditors (if they are owed money) or members (shareholders who own a bit of the company) they can email my office at (they are zeroes before the @), or fax it on 0330 223 0985. If they are telling me that they are creditors, I will be asking for evidence (ie a loan agreement, invoice or whatever), so could they please include it up front to save time.

Once the proposal is finished, I will prepare my Report and Comments and send it to the Court.  When it has been filed, I will then be writing to all known shareholders and creditors telling them that the documents can be downloaded (or will be sent by post at no cost to them if requested).  If they do not have access to the internet (unlikely in the case of your readers, but they may know people without), if they ask me in advance I will arrange a paper copy rather than sending the other letter.

Amongst the documents which will be available will be one explaining what the Company Voluntary Arrangement is – this is written from a financial point of view.  If you know of any general questions that you want answers to from the football aspect (ie, can they be promoted whilst in a CVA? Yes, if they would be promoted if they weren’t in a CVA, they should still be promoted if they are up to date in the CVA), or think will help other fans I am happy to look at them.  Please use the email or fax.

All the documents will be posted in the secure area of my firm’s website (, but since that is a bit of a mouthful and you need a username and password I have set up – this gives a link and the required security information.