Six Years Ago Today
It was six years ago today that Plymouth Argyle had an unexpected date in the High Court.
March 4th 2011 was a monumental day in the history of PAFC because lawyers acting for Her Majesty's Revenue and Customs applied to wind-up the club and place it into administration using an administrator of their choice. Lombard, who provided the mortgage for the freehold of the Home Park stadium, were also present in the courtroom.
The Directors of Argyle at that time and Football Consultant Peter Ridsdale were unaware of the court hearing and any relevant details related to it but hastily assembled a legal team to represent the club in the High Court.
The club had already announced in February 2011 that it intended to enter into administration and were seeking to appoint an administrator, this action led to the deduction of 10 points in League One.
HMRC, who were seeking to make an example of Argyle, were now using the power of the court to finally force Argyle into administration and appoint their own administrator to start winding-up proceedings, however, a delay in court enabled the Argyle Directors to be one step ahead and voluntary enter into administration and appoint an administrator of their choosing.
Despite this action being contested by HMRC the Judge agreed and the club officially appointed Brendan Guilfoyle, Christopher White and John Russell of The P&A Partnership as administrators.
The club limped along for several months and only continued as a football club because of financial sacrifices made by the staff and players and the sheer will power of the fans to keep their club alive, however, after many false hopes our grand old football club entered a new era in October 2011 and finally exited administration after it was taken over by James Brent.
With the phoenix hopefully rising from the ashes and securing promotion at the end of this season March 4th 2011 will be a day that will never be forgotten.