skip to content

Another Club Save By Fans

13 Dec 2013 21:51:50

Another Club Save By Fans

Some hard lessons learnt by fans who hopefully can avoid similar situations in the future

Dunfermline must be something special to their fans as they have staved of liquidation and emerged from administration within eight months. The club is now formally owned by the Pars United fans group which completed their acquisition of the club from administrators BDO in October and the process was formally signed off by judges in Edinburgh today.A club statement read: "Pars United are delighted to report that BDO LLP has informed us this afternoon that DAFC has now officially come out of administration. This follows an interlocutor (a decree in Scots Law) being granted by Lord Woolman in terms of Paragraph 79 of Schedule B1 to the Insolvency Act 1986, which terminates BDO's appointment as administrators of Dunfermline Athletic Football Club Limited (company number: SC011580) from today's date (13th December 2013). This is another very significant step towards re-building our proud football club, not only as part of the fabric of the community of West Fife, but within Scottish Football."The dark days of March was when Dunfermline were forced to call in the administrators over debts of almost £10million. While painful, the process of emerging from administration had key stages such as when in July creditors - including former club owner Gavin Masterton - waived their right to money owed as they agreed to a Company Voluntary Arrangement which ultimately saved the League One outfit from liquidation. While not as high profile as the fans backing the campaigns to save Rangers and Hearts; Pars fans have quietly about the business of saving their club.

Source: ScottishFitba


FOOTYMAD

Sponsored links