New winding-up order for Notts

05 January 2010 09:17
Notts County are confident of overcoming their latest financial body-blow after being hit with a second winding-up petition in the space of three months. Just two months after former owners Munto Finance paid off a six-figure sum to keep the League Two club afloat, the Magpies have been served with a fresh order from HM Revenue and Customs. The latest petition means County will not be able to sign any new players in the build-up to the hearing at the Royal Courts of Justice on January 27. However, new chairman Peter Trembling - who took over from Munto Finance in November - is confident the crisis-torn club will find the funds to survive. "We have got money coming in but HMRC pressed the button before Christmas," he told the Nottingham Post. "We would be worried if we were not going to get funds to sort it out. The funds will be in in plenty of time. "We are trying to get the release of funds from commitments made in the management buy-out and new investment as well. Investors are aware of the petition. "It is a serious issue but one we are aware of. We believe we are in control of it and hope to appease all our creditors by a week on Friday."

Source: ESA