Wednesday, 29 July 2009

CVA overturned - what next?

Yes, the news came through yesterday evening that the Court had overturned the original CVA that had been agreed through Refresh Recovery & the Creditors of Chester City FC.

The Judge in the case ruled in favour of the HMRC, who had challenged the validity of the CVA, linking their doubts to the role of Stephen Vaughan, who was representative of the company that put the club into administration, yet was also featuring as a creditor, and also as a figure head of the company that had taken them out of Administration.

So, it's a case of what next for City?

The Administrators say that they are in discussions with the FA about getting their licence to play football in the Blue Square Premier League, which as we know is scheduled to start on August 8th, but how likely this is, we just don't know.

It is my opinion that City will get the licence back, but at a cost, either a further points deduction, just like Leeds & Luton received, or it could be that Chester get booted out of the Conference set up, and drop into the 21 team Unibond League, which would be the easier option I'm sure if the FA were looking to place Chester in a League.

There is a lot of mileage left in this one yet, but I just hope it's not the end of Chester City Football Club.

1 comment:

  1. craig wilkinson29 July 2009 at 18:54

    Is Newcastle United going the same way?
    Has Ashley & Vaughan got it in for the fans
    who go to & support there teams over the years....With more & more clubs spending money they do not have, paying players wages they do
    not deserve (in Newcastle case £50m+ wage bill)i think what is happening to Chester & Newcastle will happern to more clubs in the future.
    Jeff i fell better now!


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