Soccer News
Challenge to Portsmouth administration dropped
Mar 16, 2010, 13:46 GMT
London - HM Revenue and Customs officially dropped its challenge to Portsmouth's move into administration on Tuesday, meaning the club will not face a winding up petition.
Portsmouth went into administration last month after HMRC, who are owed over 12 million pounds (18 million dollars) in unpaid taxes by the club, issued a winding up petition.
Gregory Mitchell QC, representing HMRC, told the high court judge Mr Justice Lewison that there would now be a meeting of creditors, including HMRC.
He said Portsmouth had now supplied details about their financial affairs and after a meeting with the administrators, HMRC had been reassured about their independence.
'We take the view that the continuation of the administration offers the best chance of the club surviving and of a return to the creditors, including HMRC,' he said.
COMMENT
blog comments powered by DisqusLatest Headlines in Soccer
- 1. Chelsea boost top-four hopes as Tottenham are held
- 2. Chelsea boost top-four hopes as Tottenham are held to draw
- 3. Blokhin: Shevchenko must be fit if he wants to make Euro 2012
- 4. Spanish armada sails into Iberian Europa League semis
- 5. Chelsea, Real Madrid clinch Champions League semi-final places
Older Talkback
