Just back from Barcelona (Camp Nou is big!) I just had to throw in this short piece since this is a special day in West Ham history. More will be along shortly!Another brief brush up:
Hansa holdings ehf, the company through which Björgolfur Guðmundsson owns West Ham (or rather owns West Ham Holding that owns West Ham, is under the threat of liquidation. As a result of that BG asked for Hansa to be put in a one month "moratorium" back in November.
A moratorium means that the legal system gives a company some time to sort out its business before those that the company owes money can force the company to sell its assets to pay back.
This moratorium was extended to march 6 (yes today!).
BG will file for a 3 month extension of the moratorium, but according to the Icelandic news site Newsfrettir , there is one company - MP Bank - , that will oppose an extension of the Hansa moratorium, obviously needing the money bad.
BG and his lawyers will try to convince the judge of the Reykjavik municipal court that a sale of the sole asset of Hansa – West Ham – is well on its way and a lift of the moratorium would jeopardize this sale, hence bring in less money to the company. This could convince the court to extend the moratorium with another 3 months. However, if you don’t believe in miracles, this can only postpone the sale of the club. If the court is not convinced, Hansa will, as far as I understand go into liquidation (here is were I should explain why West Ham probably is in no immediate danger - I'll be back on that topic..