BEGBIES TRAYNOR administrators have managed to agree a rescue deal for collapsed football club Port Vale.
Bob Young, Gerald Krasner (pictured) and Steve Currie, partners at Begbies Traynor were appointed joint administrators of the club on 9 March 2012.
The trio managed to agree a Company Voluntary Arrangement (CVA) of the club which was approved yesterday.
A CVA needs 75% or more of creditors by value of debt to approve the deal. About 87% of Port Vale creditors approved the proposed CVA.
Head of Editorial Kevin Reed looks at the week's news, including the BHS and Austin Reed administration, Accountex and much more.
MPs launch probe into the sale of BHS that will look at role of auditors and accountancy firms in sale process
A short moratorium will give struggling companies a chance to be open with their creditors and negotiate a way out of their problems transparently, says Sykes
Out of a dozen sectors profiled only oil and gas and manufacturing were deemed to have a higher than normal risk of insolvency