Rockin Ronny
Juniors
- Messages
- 1,769
J T said:What does it mean when a company is in receivership/administration? I've heard the term used before.
It's supposed to mean a company cannot pay its debts when they fall due - and an "independent" person is appoointed to administer the company on behalf of those lenders who want their money back.
Problem is, Norths were never broke or likely to be - Leagues Club put over $10 million into the club after JV was formed, so the $$$ was always there.
These things do not happen by accident. Rort.