Troubled Welsh rugby club Neath RFC have had an extension granted for a winding-up petition to be settled.
The club – which plies its trade in the Welsh Premier Division – was slapped with a winding up order on January 11 by HM Revenue and Customs (HMRC).
But, after hearing evidence Mr Registrar Nicholls decided to grant the club until March 26 to reconcile the money owed.
The court heard the South-Wales side – nicknamed the Welsh All Blacks – needed the extra time to settle up with the tax man.
The counsel, representing the side, explained the extension would cover the time needed to sell off property arranged by the club and also receive sponsorship money which “may take time”.
The counsel explained that while the club “would be grateful for an adjournment of 56 days” a period of 105 days would provide the club with ample time to meet its costs.
On hearing the case, Mr Registrar Nicholls opted for another hearing to be scheduled in for late March.
Last week, the club released a statement on its website confirming all “outstanding liabilities to HMRC have been met There is no secret that times are challenging at the moment which is a result of events outside the clubs control.
It continued: “We are determined to continue to work through these issues and are confident that things can be put back on track very soon.”
“Please be assured that everyone involved remains fully committed to addressing the task at hand.”
Neath are currently flying high in Wales’ top rugby division and lie in second place in the table.
But, according to the South Wales Evening Post, the firm, FG Hawkes, run by the club’s chairman Geraint Hawkes slipped into administration last October.
And Hawkes has since confirmed he will be stepping down as chairman in the near future.
By Andy Pearce
.jpg)
Subscribe to Insolvency Today