Carlton Town went public with their grievances after the club’s AGM last week, with club and board members brandishing press reports stating that Hawkridge moved to Glanford Park for an undisclosed fee.
Carlton had inserted a sell-on clause in the deal that saw Hawkridge join the Blues last summer.
“The deal for Terry to Scunthorpe didn’t involve a fee,” said Wallace.
“The sell-on clause doesn’t apply.
“The deal we have with Scunthorpe was for Luke Waterfall and Terry, and involves players coming on loan to Gainsborough throughout the season.”
Carlton Town chairman Mick Garton was quick to express his disappointment at how Trinity have handled the sitaution.
“One of the main stipulations on letting Terry join Gainsborough was that we would have a sell-on clause".