HM Revenue and Customs have issued debt-stricken Northampton Town Football Club with a winding up petition.
Winding Up Petition Issued by HMRC
The winding up petition reportedly relates to outstanding HMRC debts which are a separate matter to the setbacks related to a proposed takeover, after an Indian consortium pulled out of investing in the club. In addition, The Cobblers have been handed a deadline of close of play on Thursday to pay back a £10.25m loan to Northampton borough council. The club is using the loan to redevelop Sixfields Stadium, including building a new east stand as well as a hotel and conference centre, none of which have thus far been completed.
The HMRC petition debt has been reported to the BBC to be a five figure sum. The Chairman of the club, David Cardoza had this to say:
“We are aware that HMRC have published that they have issued legal proceedings against the club for monies outstanding. The HMRC debt is a temporary issue due to the delays in completing the takeover and during this interim period the club not receiving the investment that it needs to meet all of its commitments when they fall due.”
Winding-up Petition Solicitors
If you have received a winding up petition our legal experts are able to provide legal advice and representation. Our team of solicitors and barristers can obtain a court adjournment; CVA’s or successfully challenge the validity of the winding up petition to ensure that the petition is dismissed, often without public advertisement.