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    Begbies administrators agree CVA at Port Vale FC

    Begbies administrators agree CVA at Port Vale FC

    Administrators receive 87% of creditor vote to rescue collapsed club

    In Partnership With

    Author Date published April 27, 2012 Categories

    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.

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