21 Jul 2010Portsmouth tax hearing 'to happen before new season'

Football Clubs News | Football Finance News

Portsmouth could find out whether they will be able to leave administration before the start of the new season after a court agreed to speed up an appeal involving HM Revenue and Customs (HMRC).

HMRC is seeking to block a company voluntary arrangement (CVA) that would see 20p of every pound owed by Pompey to unsecured creditors repaid - and the football club want a quick decision so that their transfer embargo can be lifted.

Speaking to BBC Radio Solent, Portsmouth's chief executive David Lampitt - who joined the Blues in April - commented: "We've been in court to seek an expedited process.

"I understand the court has agreed to that, which means we should have the hearing before the season's start."

The CVA was approved last month, gaining the necessary support of creditors owed more than 75 per cent of Portsmouth's debt.

But HMRC claims some of the money owed to it was not factored into the calculations and if it is included, they would have enough of a share to stop the move.

Written by Terry Mitchell

© Copyright