Wimbledon FC survives Revenue challenge
by Brian Moher
11 May 2004
Wimbledon - described by Mr Justice Lightman as 'hopelessly insolvent' - faces liquidation
without the CVA. The league is also set to expel the club if it fails to pay football creditors in
full, payment the Revenue argued would see the taxman unfairly deprived.
The judge said: 'The power of the League to impose the obstacle and secure full payment for
creditors of its choice may be objectionable...but the obstacle exists [and] by common
consent is legal.'
In a hint that it is viewing the challenge to Wimbledon's CVA as a test case, the Revenue
said: 'We will look at the outcome of this case and consider our position after that.'
The Revenue is appealing the judge's refusal to grant leave to appeal, meaning Wimbledon's
future remains uncertain.
Administrators Grant Thornton, said: 'We hope that this will be a big step forward towards
restructuring the club's affairs and allowing the consortium to finally take control.'
Read more: http://www.accountancyage.com/aa/news/1760839/wimbledon-fc-survivesrevenue-challenge#ixzz2CPFafnWx