Portsmouth have agreed a Company Voluntary Arrangement with their creditors with over 81 per cent voting in favour of the deal. HM Revenue and Customs are not happy about the outcome and have 28 days in which to decide whetyher to appeal to the courrts.
Portsmouth have agreed a Company Voluntary Arrangement with their creditors with over 81 per cent voting in favour of the deal. HM Revenue and Customs are not happy about the outcome and have 28 days in which to decide whetyher to appeal to the courrts.
Their iknitial response gives no clear indicatiion of their intentions. Howvever, they insisted that the club owed them £37m rather than £24m and returned to their attack on the football creditors’ first rule which they criticised as unfair and unlawful. This wider context may encourage them to pursue Portsmouth if their legal advisers think they have a reasonable chance of success.