Following the recent winding up petition by HMRC, Portsmouth FC’s bank accounts have been frozen.
The administrator of the Championship club’s parent company Convers Sports Initiatives, revealed last week £1.6million is owed in unpaid tax.
Pompey are however confident their frozen bank accounts will be reactivated in the coming days (unfreezing bank accounts) so that staff wages can be paid.
The club’s website contained the following official statement on the Portsmouth FC winding up petition:
“Further to our recent update that a winding-up petition has been issued and publicised to Portsmouth Football Club, the club’s bank accounts have been frozen, which is the normal process in these circumstances.
The club is now seeking a validation order from the court in order to have its bank accounts unfrozen so that staff wages and suppliers can be paid.
This is expected to take a few days and once obtained this will allow our bank accounts to be reactivated.
Based on our current information we expect this process to be completed by the end of the week and would like to thank all our staff, fans and suppliers for their ongoing support.”
Portsmouth’s winding-up petition will be heard in the Companies Court on 20th February.
Facing a Winding-Up Petition or owed monies? Our Winding-Up Experts are able to give specialist legal information and advice in this area of law. Contact our leading Solicitors or Barristers for a free initial Winding Up Case Assessment or call 0845 8622 529.