BusinessBusiness RecoveryLeeds United creditors’ meeting set for 1 June

Leeds United creditors' meeting set for 1 June

Hearing to be held at football ground, says KPMG administrators

Joint administrators from KPMG have advised creditors of
Leeds United Football Club that the
creditors’ meetings will be held at the club’s ground at noon on 1 June 2007.

This meeting will enable the administrators to fulfil their statutory duty to
put their proposals for the administration to the creditors. The key activity at
this meeting will be a vote to approve progressing the
CVA
(company voluntary arrangement
) process.

In anticipation of approval of this proposal, administrators have scheduled a
second creditors meeting for 2pm on the same day at which the CVA proposal to
complete the sale of the Club to
Leeds
United Football Club Limited
will be considered and is expected to be voted
upon.

Joint administrator Richard Fleming said: ‘At this meeting I will outline the
proposal to sell the Club to Leeds United Football Club Ltd and will also inform
the creditors of any other matters which could influence their decision; such as
details of the level of interest from other potential buyers of the Club and
indeed any alternative bids. Creditors will then be invited to vote on the
proposal and any modifications that emerge.

Further reading:

FA to consider rules on administrations

Leeds score deliberate own goal

Leeds United on brink of insolvency

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