National League Block Ndaba and Cotter Loans
Saturday, 2nd Nov 2019 12:55
The Vanarama National League have refused to sanction Corrie Ndaba’s loan to Chelmsford and the extension of Barry Cotter’s spell with the Clarets due to a winding-up order having been issued against the Essex side.
Yesterday, Town announced that Ndaba was set to join Chelmsford for a month, while fellow Irishman Cotter, who joined the Clarets at the end of September, was due to have his spell extended until December 3rd.
A statement from chairman Steve Shore reads: “I have been liaising with HMRC for some time now to resolve an old payment issue and gradually reducing the amount outstanding however HMRC started action and, despite making regular payments, has been reluctant to cease the proceedings.
“Consequently there is a hearing at the High Court on Wednesday at which the club will be represented and will do whatever is necessary to prevent the winding-up order being executed.
“The winding up order is against the old club The Supporters of Chelmsford City Football Club (TSOCCFC) which the intention will be to voluntarily wind-up as it is no longer trading.
“The transfer of membership to Chelmsford City Football Club Limited was completed some time ago but I have been waiting to agree the transfer of shares etc for old members of TSOCCFC before fully communicating; this issue has crystallised the need to do this.
“The proposal is to issue each member of TSOCCFC with 100 shares in the new company, Chelmsford City Football Club Limited. Upon his return from Australia, our company secretary will help facilitate this process.
“In addition we shall be offering further shares in the new company to any existing shareholders wishing to increase their interest and to new shareholders. Details of this will be shared once David returns at the end of this month.
“As a result of the HMRC action the National League on Friday afternoon refused to sanction the extension of Barry Cotter’s loan and a new loanee [Ndaba].
"We were unable to resolve this before the end of the day but hopefully can resolve in the coming week. I will update further next week.”
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