Originally Posted by
tail wheel
The cause of External Administration may be due to issues of governance, liquidity, solvency or other matters which justify appointment of an independent Administrator. If you are transacting business with the entity it is prudent to be aware the Company has limited protection against claims and is being independently managed.
Tailwheel, the club/company is NOT being independently managed. Management and the board are the same. It’s business as usual and the company is more than solvent. It relates to three encumbered assets that are trying to be seized by a former director. This is currently the subject of a legal process. Please do not disseminate incorrect information.