Last Thursday, a judge granted Red Ice a five-day extension for handing in the required documents. Yesterday, Red Ice once again asked for a 15-day delay. However, the court did not grant it. According to Le Nouvelliste, it ruled that this was indeed a case of over-indebtedness and thus imposed bankruptcy.
In an extraordinary meeting on Wednesday, the Board of Directors, the shareholders, former administrators, and the group, which led the fans' fundraising campaign, unanimously decided, however, to "continue working to find a favorable solution to justify an appeal against the verdict of the judge". Should the club indeed be rescued, Mike Echenard, the president of Martigny Red Ice, would step down from his position.
The whole saga started back in February when Andrey Nazheskin announced that he would sell his shares of Martigny Red Ice. In March, Rhône FM reported that the club was in financial troubles and that salaries from February and March were still outstanding. Red Ice then negotiated with several potential buyers, including a group of Slovak investors. Despite a basic agreement with them, this deal fell through at the beginning of June.
On June 2, president Mike Echenard told Le Nouvelliste that he still hoped for a last-minute rescue. Unfortunately, this was not the case and the club has now been declared bankrupt.
Last Update: 14 June 2017, 4:15 PM | bsc/mso
