Middlesbrough’s Near-Death Experience Revisited
The Insolvency Act of 1986 was enacted on the twenty-fifth of July of that year, and its ramifications would come to change the face of English football, through the introduction of Company Voluntary Arrangements. Prior to the introduction of this law which was introduced by the government in a bid to entice more entrepreneurial activity in companies with the aim of allowing insolvent companies to trade their way out of insolvency an insolvent company's only routes out from serious financial difficulties were liquidation or a winding-up order, and the last club to fall foul of this state of affairs was Middlesbrough, whose financial travails overshadowed the start of the 1986/87 season.
Twohundredpercent @ Sep 6, 2011 6:04 PM EDT | Blog Profile
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