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Plymouth pay off tax debt

09 Feb 2011 12:00:04

Plymouth pay off tax debt

Cash-strapped Plymouth have fought off a winding-up order at the High Court.Catherine Addy, representing HM Revenue and Customs, told Mr Registrar Nicholls that the outstanding tax debt had been "paid in full". The registrar then dismissed the petition at the hearing in London, which lasted just a few minutes.At a previous hearing in December, Plymouth were given a last chance to pay off tax bills or face a winding-up order, and the case was adjourned until today (Wednesday). Matthew Smith, representing HMRC, told Ms Registrar Barber at the hearing last year that the club owed more than £500,000 and Home Park Property Ltd, owner of the ground, owed £260,000.Hilary Stonefrost, representing the npower League One club, said Plymouth intended to pay off the debts by the end of January and were in negotiation with new backers who could provide £1.2 million to cover any liabilities.After the proceedings, former Leeds and Cardiff chairman Peter Ridsdale, who was brought in as an adviser, said there was "still a long way to go". There were still a number of creditors and the club were asking for their patience.They would be working "tirelessly", Ridsdale added, to ensure that the creditors were paid and to restore the club to full financial health.


PA

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