UK (Parliament Politics Magazine) – Reading FC faces winding-up petition from former CEO claiming unpaid earnings, putting the club’s financial and legal position under scrutiny.
After a hearing in November regarding £99,614, Nigel Howe, a 29-year Royals employee, expressed his “disappointment that it has come to this.”
The League One team acknowledged in a statement that there is an “ongoing dispute” with Mr. Howe, but it refuted any allegations made against it.
“I’m hoping to get it resolved as soon as possible,”
Mr Howe told BBC Berkshire.
Under the former owner, Dai Yongge, Mr. Howe had been in charge of the club’s selling.
Redwood Holdings, a division of Dogwood Football LLC, which is owned by American attorney Rob Couhig and his business partner Todd Trosclair, has been the owner of the Royals since May.
“Reading Football Club confirms that it is in an ongoing dispute with Mr Nigel Howe. The club denies any claims made against it,”
it said.
“Given the ongoing dispute and potential legal proceedings, the club will not be making any further comment at this time.”
After 19 games this season, Reading is presently ranked 18th in League One.
What are the legal steps after a winding up petition is filed?
After a winding- up solicitation is filed against a company like Reading FC, the court schedules a public hail, generally 4- 8 weeks latterly, announced in The review around 7 days post-service.
The company can pay the debt, dispute it with substantiation( e.g., via instruction), or negotiate an agreement; banks frequently indurate accounts upon notice, halting operations. Creditors may join, amplifying pressure before the hail.
The judge may dismiss( if debt disputed), adjourn( for payment plans), or issue a winding- up order appointing a liquidator to sell means and distribute to creditors, leading to dissolution. The League One side, 18th after 19 matches, surfaced from Dai Yongge’s turbulent power but now risks liquidation if undetermined, echoing previous fiscal straits like points deductions.
