Source: FOOTYMAD
Dundee To Be Aim To Be Out Of Administration By End Of Season
While there is still some resentment over the level of money to be repaid to creditors, Dundee look as if they will survice. Dundee expect to be out of administration before the end of the season after the deadline passed for objections to their Creditors' Voluntary Arrangement. Administrators PKF are now able to pay creditors and finalise arrangements for the future management of the Irn-Bru First Division club. Joint-administrator Bryan Jackson revealed HM Revenue and Customs were owed more than £400,000 of the club's £2million debt when he took control of their finances in October, but his talks with the tax authority have ended positively for the club. He said: "HMRC did request further information following the CVA agreement and I have had extensive communication with them over the last four weeks. Now that the period for objection has passed this means that we can now continue to process the CVA as quickly as possible. However there are still a number of issues and technicalities to be dealt with and we must expedite these accurately and efficiently. Paying the dividend to creditors and working closely with the new management and shareholders are the next issues to be dealt with and I would expect the club to be out of administration by the end of the season." Editor Ger Harley (ger@scottishfitba net)Admin Team (admin@scottishfitba net)This is ScottishFitba Net
