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Leeds still under fire from Revenue & Customs
England - 08 August, 2007
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Revenue & Customs still will challenge Ken Bates' attempt to take control of English Leeds United.
Bates placed the club in administration, with the club's main creditor strong-arming the other creditors to take a weak 1p per GBP offer. With that accepted, Revenue & Customs challenged, even when Bates upped the payback to 8p per GBP.
That did little to satisfy, even when Bates won back the club again with, according to administrator KPMG, the best offer.
As Revenue & Customs is owed GBP 7.7 million, it seems like it will not back down from Bates anytime soon. It has set a 3 Sept. court date for KPMG and Bates' company, challenging the company voluntary arrangement (CVA).
League One had wanted a reinstatement of the CFA before letting the club back on to the field – even with it docked 15 points. KPMG refused to reinstate the CVA.
Although the CVA no longer exists after Revenue & Customs originally challenged the resale, it believes there is a legitimate cause to challenge the processes of the administration through the courts.
Bates placed the club in administration, with the club's main creditor strong-arming the other creditors to take a weak 1p per GBP offer. With that accepted, Revenue & Customs challenged, even when Bates upped the payback to 8p per GBP.
That did little to satisfy, even when Bates won back the club again with, according to administrator KPMG, the best offer.
As Revenue & Customs is owed GBP 7.7 million, it seems like it will not back down from Bates anytime soon. It has set a 3 Sept. court date for KPMG and Bates' company, challenging the company voluntary arrangement (CVA).
League One had wanted a reinstatement of the CFA before letting the club back on to the field – even with it docked 15 points. KPMG refused to reinstate the CVA.
Although the CVA no longer exists after Revenue & Customs originally challenged the resale, it believes there is a legitimate cause to challenge the processes of the administration through the courts.
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