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This will, hopefully, see the Bankies begin again in Central League division 2 with the ultimate aim of re-admission into the SFL.
To this end, an agreement has been reached for a 4-year tenancy at Glenhead Park, Duntocher, Clydebank and the new club intend to play their first fixtures at the start of
next season.
The new club have managed to negotiate all rights to the name, strips, crest and history of Clydebank FC.
Well done all involved More info from the bankies site
================= Previously =================
Airdrie United have succeeded in their take-over of Clydebank Football Club. A bid to save the Bankies was lodged last night but the decision was taken to sell the club to Airdrie. The administrator will officially announce the decision at a press conference before 5pm.
Thanks to everyone from near and far for their emails and messages of support on the fans forum this past week.
This chapter in our history has now closed, but I remind all Bankies that we have meeting on Thursday to discuss 'the future'.
===================== previously ==================
Taken from the fans website below ...
The moves to complete the sale of Clydebank FC to David McGhie have been frustrated by the actions of the three UK based Riverbank shareholders. Approval is required from the board of Riverbank, the holding company of Clydebank FC, in order for the sale to proceed. Once the sale goes through the new owner David McGhie will have to confirm where Clydebank intend to play next season. Groundsharing at The Rock, Dumbarton, is the preferred option of the fans.
Below is the state of play at end of May 2001 as described by UCS spokesman David Munro...
A Riverbank EGM was scheduled for Sunday May 20th. Due to the actions of, in the main, Sandy Moffat and to a lesser extent Simon 'Fraser' Ross and Barry Larsen this meeting was postponed (for the second time). The reason for the postponement is fairly simple in that the constitution of Riverbank dictates that for a General meeting to be 'quorate' at least 2 shareholders must be present. This should have been picked up by John Hall's Solicitors, Levy and McRae. The 3 UK based shareholders have all refused to attend in the full knowledge of this rule (Moffat, Larsen and Ross).
The shareholders are now split roughly as follows: The 'good' guys, led by John Hall, with over 65% of the company. ALL these shareholders live outside the UK and cannot attend the meeting in the short time available. Consequently, another meeting will require to be formally called as a technicality has also made the initial calling invalid - again something challenged by Moffat. John Hall is the main shareholder with a few others holding dribs and drabs like Philip Lynch, living in Hong Kong. These shareholders are all happy and willing to accept the settlement brokered by Hall and PKF and accepted by all the creditors of Clydebank FC.
The bad guys, led by Sandy Moffat hold by far the minority of shares. I believe Moffat and Larsen to be totally unco-operative with possibilities of Ross changing his stance given adverse publicity. For whatever reason Moffat is using every avenue to block and obstruct any move which will ensure the survival of the club. For the record, there are only two options available. Either accept the offer from David McGhie and walk away with some payment or close the club and walk away with nothing. Best opinion states that Moffat, as a Director of Riverbank (and Linda McKay), would be guilty of misconduct in the eyes of Companies House by leaving the creditors with nothing as opposed to something. Consequently, it is difficult to understand where the man is coming from. John Hall has made every effort to get this affair sorted, asking for Moffat's resignation time and time again. Moffat will not budge.
Adverse publicity for Moffat and also the naming and shaming of Ross and Larsen could have some influence. The Daily Record article printed on Wednesday 16th May exposed Sandy Moffat's role in the current predicament and highlighted Hall's efforts to sort this mess out. Perhaps Moffat wants Hall to make him an offer to buy his shares, who knows.
Hall's initial proposition is as follows: To continue the attempts to replace Moffat with myself and Steven (Latimer) at a new EGM, probably mid to late June. This might set back David McGhie's plans for next season but he has a management contract until June 30 so all is by no means lost. To get around the 2 shareholder rule (and miss the cost of flying bodies in from faraway countries) he wants to give away/donate some or much of his Riverbank shareholding to a number of Clydebank fans and flood the EGM with same. The rules of Riverbank state that Moffat could block this but, at that time, John Hall would bombard the press with 'Moffat is killing the club I own' style stories. At this stage he would have to meet the expense of shareholders flying in from Hong Kong, Bermuda etc which is obviously completely OTT.
Finally, Levy and McRae have been dismissed and replaced by McGrigor Donald who will take immediate steps to get the EGM (and the sale) back on track.
