County granted deadline extension

27 January 2010 05:44
The club announced on Tuesday that they had found a new investor to pay off all debts, subject to contract and due diligence but would not reveal their identity.

HM Revenue and Customs, who are believed to be owed £324,206, agreed on Wednesday not to contest a 28-day extension as the club finalise the terms of the deal.

A lawyer representing two other creditors, said to be waiting on £95,000 and £3,791, failed in a bid to take the place of the HM Customs as petitioning creditor.

However, the court registrar presiding over the case said: "In the circumstances I am not going to grant substitution. I will stand it over for 28 days until 24 February and if there is refinancing going on then it is incumbent upon the company to deal with all its creditors."

Source: Team_Talk