Source: Telegraph
HM Revenue and Customs drop challenge over Portsmouth
It means Portsmouth, who owe £65 million, will not face a winding up petition. [LNB]Gregory Mitchell QC, representing HMRC, told High Court judge Mr Justice Lewison that there would now be a meeting of creditors, including HMRC, who took action because the club owed more than £12 million in unpaid VAT and PAYE. [LNB]Newcastle target Middlesbrough derby as key to Premier League survivalHe said Portsmouth had now supplied details about their financial affairs and after a meeting with the administrators, HMRC had been reassured about their independence. [LNB]"We take the view that the continuation of the administration offers the best chance of the club surviving and of a return to the creditors, including HMRC." [LNB]
