CHAMPIONSHIP football club Bolton Wanderers has secured a welcome reprieve in its battle to survive an ongoing spat over a £2.2m tax bill to HMRC.
Bolton’s legal team briefed a High Court judge on Monday that it was taking significant steps to generate the cash and pay the outstanding amount. More evidence is set to be heard at a further hearing in May.
The Trotters announced on Friday that it had sold its training ground to Wigan Athletic.
It was granted a 14 day adjournment by the High Court in a bid to firm up a deal with Sports Shield Consortium – the potential new owners of the club.
Club owner Trevor Birch, said: “Whilst this continues to be a challenging time for everyone associated with the club, we are confident that this adjournment will give us the necessary time to conclude a transfer of ownership of the club, subject to approval from The Football League.”
A number of parties have expressed interested in a takeover of the business.
Manufacturer DMG Steelworkers has been sold out of administration in a pre-pack deal by insolvency and restructuring firm CVR Global
By threatening creditor returns, the government could undermine the UK’s World Bank insolvency ranking and cost creditors £8m a year, trade body R3 warms
Lee De’ath and Richard Toone, partners at CVR Global, were appointed joint-administrators of Lexden Centre (Oxford) Limited, trading as Colchester English Study Centre (CESC), on 29 June 2016
The current business rates system is over-complex and reform is needed, but reforms should focus first of all on simplifying the appeals process, particularly for businesses which are subject to business rates exemption