Jan 24 2013 by Colin Paterson, Airdrie & Coatbridge Advertiser
Airdrieonians Football Club will finally be liquidated – almost 11 years after they went bust.
A final creditors’ meeting will take place on Thursday, January 31, in Glasgow when the process, which began in May 2002, will come to an end.
Liquidators KPMG plan on bringing the long-running affair to a close after being told there was no timescale for when a dividend from another company in liquidation, Dudley Developments Limited, would be received.
In a report to creditors, joint-liquidator Gerard Anthony Friar says “no dividend” would be paid to any class of creditor as any funds received would have gone towards the company’s approved fees.
The document states: “Unfortunately, the liquidator of Dudley is not yet in a position to facilitate the dividend distribution and is unable to provide a definite timescale for doing so.
“Accordingly, I have concluded that it is no longer cost-effective to keep the liquidation open in order to take receipt of this dividend. The foregoing will have no financial impact for the general body of creditors as any funds received would have been in settlement of my firm’s approved reumneration.”
There is a current balance of £632.89 but costs are due to KPMG for completing the liquidation of the club and unbilled work.
Since February 1, 2000, when Airdrieonians Football and Athletic Company Limited were placed into provisional liquidation for the first time, payment fees to liquidators total £795,000.
The period of time between a company being liquidated and the name of the business dissolved is approximately three months.
The conclusion of the process will raise hope among some fans who would like to see the Airdrieonians name revived.
But the Advertiser understands that there would be legal and company law hurdles which would have to be overcome. It's unclear if the original name - and club crest - are still available as saleable assets.
Jim Ballantyne, chairman of Airdrie United, formed on the back of the old Diamonds’ demise in 2002, declined to comment on the matter while the liquidation process was still ongoing.
One fan was amazed to find out that Airdrieonians had still not been fully liquidated and dissolved after all this time.
“I’m really surprised that it has been going on for this long,” said Willie Marshall, chair of the Airdrie United Supporters’ Trust.
“Last summer was the 10th anniversary of United. Not a single person has mentioned the fact that Airdrieonians were still in liquidation.
“This news has just brought the memories from that time flooding back. You didn’t think the club would go out of business as nobody had gone bust since Third Lanark in 1967.”
Senior football in Airdrie was kept alive after the demise of the ‘Onians when Ballantyne bought Clydebank, moved the club to Airdrie and renamed them.
The United Clydebank Supporters’ Trust (UCS) then purchased the Clydebank name and crest from Ballantyne for £1 and in 2003 formed a club which now plays in the top division of Junior football’s West Region.
On the possibility of reviving the ‘Onians name, Willie said: “Personally speaking, it’s not a big deal although I’m aware it’s an issue to some of our fans.
“I just want to see a team called Airdrie, playing in Airdrie and wearing the diamond.”