Southend given 14 days to stave off administration 09/07/2010 |
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Southend United has been given 14 days to prove it has a viable financial future or the League Two club will be placed into administration by the High Court.
Mr Justice Newey heard evidence on Thursday (July 8) from lawyers for HM Revenue and Customs who claimed that Southend is "incontrovertibly insolvent". HMRC added that the club is "in persistent default" of payments as and when they fall due.
Justice Newey ordered Southend to provide formal evidence of its future financial security by July 22. The parties will return to the High Court for that to be considered on August 2.
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