Who owns the Club
62 replies
huskydog replied on 01/01/2020 15:53
Pathfinder replied on 01/01/2020 16:03
Posted on 01/01/2020 08:04 by OneputtI imagine (only a guess) that the club is a company limited by guarantee Most guarantee companies are not-for-profit companies - that is, they do not distribute their profits to their members but either retain them within the company or use them for some other purpose.
The main reason. to be a company limited by guarantee is to protect the people running the company from personal liability for the company's debts, just as a business may be set up as a company limited by shares for the same reason.
Again I'm guessing that if CC ltd went under the assets would be sold off to service any debt but not sure what would happen to any residue
Posted on 01/01/2020 16:03
Again I'm guessing that if CC ltd went under the assets would be sold off to service any debt but not sure what would happen to any residue
I asked this question some years back and my post was soon removed, so come on directors let’s have some answers after all it is members money that has made the club what it is today
Happy new year to one and all
Tinwheeler replied on 01/01/2020 16:10
Posted on 01/01/2020 16:03 by PathfinderAgain I'm guessing that if CC ltd went under the assets would be sold off to service any debt but not sure what would happen to any residue
I asked this question some years back and my post was soon removed, so come on directors let’s have some answers after all it is members money that has made the club what it is today
Happy new year to one and all
Posted on 01/01/2020 16:10
I doubt it can be answered, Pathfinder, as it would depend on the insolvency laws in force at the time as well as the terms of the Articles of Association.
In reality, I doubt there would be any residue after sale of assets to service debts as, if there were, the company would not be insolvent and would/could carry on trading albeit with fewer assets.
Freddy55 replied on 01/01/2020 17:46
Posted on 01/01/2020 15:37 by TinwheelerWatch and learn, Freddy. 👍🏻
mickysf replied on 01/01/2020 21:58
viatorem replied on 02/01/2020 17:49
Posted on 01/01/2020 10:28 by DavidKlyne
Tinwheeler replied on 02/01/2020 18:28
Posted on 02/01/2020 17:49 by viatoremInteresting reading, Were the articles updated when the re-branding occurred? Or has the club not bothered.
viatorem replied on 02/01/2020 19:15
Posted on 02/01/2020 18:28 by TinwheelerThey didn’t need to bother. The company running the club is still The Caravan Club Ltd. Any other name is merely a trading name.
Tinwheeler replied on 02/01/2020 19:31
Posted on 02/01/2020 19:15 by viatoremAgreed in terms of legal entity, but should they not have made the inclusion of "and motorhomers" in section "4 Object" of the articles to reflect the Club's current aims?
Oops more drifting 😉
Tinwheeler replied on 02/01/2020 19:42
Posted on 02/01/2020 19:31 by TinwheelerSurely the terms "caravanning" and "caravanners" encompasses everyone whether they use a towed caravan or a motorised caravan?
If you really want to split hairs, you could also question the omission of trailer tents.😗
fatbelly
Motorhomer