A group of Morecambe FC shareholders have issued an ultimatum to the owner – sell the club within 48 hours or face High Court action.
Wright and Lord Solicitors, of Morecambe, said a ‘minority shareholder’ action could be taken against Bond Group Investments and Jason Whittingham in an effort to force the long-awaited sale of the Shrimps.
The latest announcement comes amid growing concerns for the very existence of the cash-strapped club while the long and drawn out sale process remains incomplete.
“Wright & Lord Solicitors have obtained a barrister’s opinion on the merit of taking a ‘minority shareholder’ action against Bond Group Investments Limited and Mr Jason Whittingham under section 994 of the Companies Act 2006,” it said.
“On the strength of that advice, a group of minority shareholders has quickly formed to back the application. ‘
“The process will effectively be a petition to the High Court seeking an order that independent directors are appointed, the company’s affairs are overseen, and seeking an order of the High Court that a sale of Bond Group shares takes place.
“A letter of claim has been sent to Bond Group Investments Limited and Mr Whittingham today setting out the action which we are instructed to commence if the sale is not completed within 48 hours.”
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As of July 15 2024, the date of the most recent confirmation statement with Companies House, Morecambe Football Club.Limited had 972 shareholders.
It is not known how many, and which shareholders, have formed the group ready to take legal action.
Lizzi Collinge, MP for Morecambe and Lunesdale, said: “Well done to minority shareholders for taking action, I’ll back them all the way.”
Morecambe FC has been up for sale since September 2022 and the process has dragged on while the Shrimps have twice been relegated, and are set to begin the new season in non-league football.
It seemed a deal would finally be done after sports investment company Panjab Warriors (pictured) was given clearance, in June, by the English Football League (EFL) to buy the club.
But after announcing he’d agreed terms to sell the club and saying it would happen on Monday July 7, along with Panjab Warriors making a similar announcement declaring their purchase, Whittingham made a U-turn and announced plans to sell to another buyer, a consortium led by the previously unheard of Jonny Cato.
