Winding-Up Petition: Sports Shield BWFC
August 22 2017
It has been reported that on 7th August 2017, Mr. Registrar Briggs granted a two-week adjournment in the Dean Holdsworth Sports Shield BWFC case at the Winders Court in London. The Football League will also be intervening with the winding-up petition against Sports Shield BWFC.
The Finance company Blu Marble Ltd are seeking to reclaim payments of a £5million loan. The £5million loan was taken out in March 2016 by Sports Shield BWFC in order to help buy the club from the former owner Eddie Davies.
Sports Shield BWFC possibly could face liquidation if there is a failure to reach settlement. Therefore the loan is currently in default. Dean Holdsworth’s company also owns a percentage of 37.5% of the shares in Wanderers Football Club. This could lead to an outcome of breach of the EFL regulations.
It is understood the EFL has been asked to look into a ‘specific matter’ by lawyers from Blu Marble. This prompted the request of a two-week delay in the case. Counsel Matthew McGhee stated at the brief hearing that “we seek the court’s indulgence for a further 14 days for the League to consider the proposals”. The league declined The Bolton News’ offer to comment.
Chairman for the Wanderers, Ken Anderson, emphasised on his disappointment at the delay, stating that it would cause an impact on the speed at which the club could emerge from a transfer embargo.
“Sports Shield BWFC’s (SSBWFC) Winding Up Petition hearing in the High Court today with Blu Marble was adjourned again for a further 14 days to enable the EFL to consider the several options put to them by Blu Marble lawyers,” he said on the club’s official website.
“Once again, l must emphasise that the hearing is not anything to do with the club. Neither the club nor l have any control over this matter as it relates solely to SSBWFC, Dean Holdsworth and Blu Marble and not the club.
“I have, however, expressed the club’s preferred settlement option and this is now with the EFL for consideration. Hopefully, the issues will finally be resolved at the hearing on the August 21, until then neither the club nor l will be making any further comment.”
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