Fri, 27 Nov 2015 | ADMINISTRATION
Fans of Northampton Town FC will have to wait a little longer to learn the fate of their team after the club's insolvency hearing was adjourned for two weeks.
Lawyers representing the club, which plays in League 2, and Northampton Borough Council attended a hearing at London’s High Court on Friday (27 November). The local council has brought a case against the club over a £10 million loan owned by The Cobblers - failure to resolve the financial dispute could result in the club entering administration.
In the hearing at the court, the two sides told Mr Justice Nugee that they had come to an agreement that the administration petition would begin again on 11 December if negotiations over the next two weeks did not succeed.
The £10 million loan concerns money that the council had loaned to the club for a stadium redevelopment. If the Northampton Town did enter administration it could carry serious punishments, including automatic relegation and point deductions.
Thomas Talbot-Ponsonby, speaking on behalf of the club, said that it fully supported the adjournment in the hope that the rescue package would go ahead. The judge approved the adjournment as “very sensible”.
Earlier this week a winding-up petition from HM Revenue and Customs has been dismissed after an outstanding debt of £160,000 was paid in full by the club.
View other businesses in administration.
The company offers an aluminium design, fabrication and installation service, specialising in aluminium windows, doors and curtain walling systems. The company works closely with a number of prestigious suppliers and subcontractors in order to provid...
The company provides a diverse range of solutions to clients across the healthcare sector, including temporary staffing, supported living, and complex care. To complement its core services, the business has developed its own app, enabling healthcare...
The company offers the hire of a wide range of high-quality, modern plant, access, and tools regionally. Priding itself on its outstanding customer service and large, loyal client base, the company also provides training for IPAF courses through an e...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.