HM Revenue & Customs (HMRC) had taken action in the High Court to try and block Portsmouth FC entering into a Company Voluntary Agreement (CVA) to take the club out of administration.
We’ve just heard from the that they HMRC have failed in their challenge, sending the following statement to VentnorBlog
“HMRC is naturally disappointed not to have won this appeal and we can confirm that we do not intend to appeal.
“Our aim when pursuing debt of any kind is to achieve a fair outcome for the taxpayer and we will take this forward in the wider context of the football industry through separate and outstanding legal proceedings over the status of the so called “Football Creditors Rule”.
“This is an important and complex judgment and until we have had the opportunity to study it in detail we can’t comment further.”
Pompey says …
Pompey chief executive, David Lampitt, said: “We’re delighted and relieved at the outcome announced today in the High Court.
“… it’s obviously a massive step forward in the process towards getting this great club back on its feet.
“I would like to give my personal thanks to all those who have supported us through this difficult period, in particular our fans, commercial partners and Portsmouth City Council.
“The result is a huge relief to the staff here whose loyalty has been unswerving and whose hard work has held the club together.”
