29th Of July Is Judgment Day

It has been a long couple of month for the supporters, and employees of Halifax Town, and unless something drastically was to go wrong, come the start of August the Shaymen should be out of administration.

The meeting on the 29th will be when Peter O'Hara puts his proposals for the club to the creditors. It is then up to the creditors to decide whether to back the proposals or not.

The creditors are people who are owed money from Halifax Town for one reason or another. The biggest creditor is the Inland Revenue who are owed around £300,000.

The main reason O'Hara has been so concerned about the Inland Revenue is because he needs 75% of the creditors to back his proposals to take the club out of the CVA, and the IR are just short of the 75%.

If and when O'Hara does get the IR on his side he will only need a few more votes out of the rest of the creditors. The IR will most likely have accepted the proposals by now or else O'Hara would not have called for the meeting on the 29th so it is looking quite positive.

Usually when in a CVA, the creditors will more than likely vote for the proposals. If 75% do not vote for, then the club would go into liquidation and go out of business. This would leave the creditors with nothing.

The club has no assets except the supporters, and we can not be sold off to make the club some money so this leaves the creditors with one other option.

They will have to vote for the CVA to have any hope of getting their money back for Halifax Town. Even then, depending on what is in the CVA they may only get 25p from every £1 they are owed, but then again it is better than nothing and having 1000 Town fans hunting you down.

So, that is it. It sounds simple, and it probably is. But it still does not sound as though it is decided which consortium will be taking over the club.

The rumour mill has been working overtime the last few weeks.

The Hall and Cairns bid, which has been supported by the Supporters' Trust, are rumoured to have Jim Brown hiding in the wings.

The Lloyd/Walker bid has gone pretty quiet. They are possibly lining up Albert Valentine to help promote their next publicity stunt in the Courier.

Whatever happens, it now seems 99% certain that Halifax Town will kick off the season playing in the Nationwide Conference.