Source: Team_Talk
Bluebirds handed May deadline
The Bluebirds appeared at a High Court hearing on Wednesday with HRMC seeking to have the club wound up over unpaid bills.[LNB]Matthew Smith, representing HMRC, told Mrs Registrar Derrett that the club owed around £1.9million and were "robbing Peter to pay Paul" in order to stay afloat.[LNB]Elaine Palser, representing Cardiff, said a "third party" investor would be providing the club with £6million in funds and the tax debts would be paid.[LNB]She said the company was not insolvent and had substantial assets including £30million worth of players and the problems had been caused by "temporary cash flow difficulties".[LNB]Mrs Registrar Derrett granted the club 56 days to make a full and final settlement with HMRC.[LNB][LNB] Leicester 11/10, Draw 12/5, Cardiff 12/5
