Source: Daily_Mail
High Court give green light to crisis club Portsmouth over administration
HM Revenue and Customs today officially dropped its challenge over Portsmouth's move into administration and said it 'offers the best chance of the club surviving'.[LNB]It means that the crisis football club, which owes £65 million, will not face a winding up petition.[LNB] Adminstrator Andrew Andonikou speaks at a press conference at Fratton Park last week[LNB] [LNB]Gregory Mitchell QC, representing HMRC, told High Court judge MrJustice Lewison that there would now be a meeting of creditors,including HMRC, which took action because the club owed more than £12million in unpaid VAT and PAYE.[LNB]He said Portsmouth had now supplied details about its financialaffairs and after a meeting with the administrators, HMRC had beenreassured about their independence.[LNB] In trouble: Nadir Belhadj in action for Portsmouth during their 4-1 defeat at Liverpool on Monday [LNB] 'We take the view that the continuation of the administration offersthe best chance of the club surviving and of a return to the creditors,including HMRC.'[LNB] Pompey administrator Andronikou raps crisis club's prospective ownersLiverpool 4 Portsmouth 1: Benitez's men get back on goal standardArsenal defender Campbell ends his £1.5m court case against PortsmouthPORTSMOUTH FC
