Portsmouth administrator Andrew Andronikou believes creditors' deal is imminent

16 June 2010 16:52
Thursday is decision-day for those owed £105 million by Portsmouth and, although Her Majesty's Revenue and Customs intend to vote against the 20p in the pound proposal, Andronikou believes that he will secure sufficient support. [LNB]Should the CVA be approved, Portsmouth then hope to announce the identity of their new manager by the end of the week, with the club facing competing interest in Steve Cotterill from Hull City. [LNB] Related ArticlesCarling Cup draw: Portsmouth face StevenageTaxman launches bid to tackle creditors ruleCotterill tops Portsmouth wish-listPompey wait on JamesPortsmouth prepare to slash wage billSport on television'We don't want to pre-empt the situation but at the moment the votes we are receiving are looking good,' said Andronikou. 'We're waiting for the other creditors to come in but we should have in excess of 75 per cent.' [LNB]Andronikou has been emailed by HMRC to inform him of their intention to reject the CVA proposals, but the only other creditor to reject the CVA so far is understood to be a football agent owed less than £100,000. [LNB]

Source: Telegraph