Revenue action could kill off Wimbledon FC
The fate of Wimbledon Football Club was being decided in court rather than on the pitch yesterday, as the Inland Revenue's challenge to the club's company voluntary arrangement got under way.
Link: Revenue dashes Wimbledon FC hopes
Wimbledon, currently in administration, faces liquidation and expulsion from the football league if the Revenue’s case is successful, The Financial Times reported.
According to Pete Winkelman, whose take-over bid for the club relies on the success of the CVA, it could be kicked out by the end of July.
Grant Thornton, administrators for Wimbledon, came within a whisker of having a life-line CVA accepted a fortnight ago before the Revenue made an eleventh hour challenge.
The Revenue’s challenge focuses on the league’s notorious ‘super creditor’ rule. It means clubs entering a CVA have to pay off football super creditors first, which include players, managers, other football clubs, the Professional Footballers’ Association and the league – even before preferential creditors, as required by law.