Thursday, 5 August 2010

FOOTBALL: Pompey win case against HMRC

HMRC has lost its case against Portsmouth at the high court, HM Revenue & Customs were seeking an order blocking a proposed Company Voluntary Agreement (CVA) put together by the club's administrators to help them out of administration. Portmouth had struggled to agree a settlement with the taxman ahead of the court hearing

The troubled club were granted an adjournment of a HM Revenue & Customs winding-up petition at the Companies Court on condition that they lay bare the extent of their financial troubles to revenue officials within a week. But today's ruling will bring much delight to Pompey, its fans and the people who live within the area and with HMRC losing their case, it is thought they would appeal. But HMRC has just confirmed that they will not be appealing.

HMRC was seeking an order which would block a proposed Company Voluntary Agreement (CVA) put together by the club's administrators.

The High Court has ruled in favour of the administrators, with Mr Justice Mann saying: "I propose to find in favour of the company administrators and dismiss the application of HMRC

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