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Leeds United CVA Meeting Stalemate

Everyone connected to Leeds United will have to wait a few days more to find out just what the future holds for the club. Today saw the CVA (company voluntary arrangement) meeting whereby it was to be voted on by creditors whether to approve the bid for the club by a consortium led by the former majority shareholder Ken Bates.

The appointed administrators for Leeds KPMG have decided to delay the announcement of results due to the close nature of the overall vote on approving the deal. The votes will now be recounted and checked by KPMG and an announcement will be made on Monday.

A statement from the administrators read: 'The creditors' meeting has been adjourned without a conclusion being reached due to the first count of creditors' votes on the CVA (company voluntary arrangement) proposal producing a very close result.

This means that KPMG administrators wish to recount. The meeting will reconvene on Monday, June 4, at 10am at Elland Road when the result will be provided.'


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The Journalist

Writer: LUFC1 Mail feedback, articles or suggestions

Date:Friday June 1 2007

Time: 9:13PM

 

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