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Old debts may sink Halifax Town
OLD debts could tip Halifax Town over the edge today and put the club out of business.
A creditors' meeting on Wednesday was adjourned to the Leeds offices of administrators Begbies Traynor.
Most recent creditors may have accepted the 2.5p offer in settlement of debts proposed by the consortium wanting to take control of the club but long-standing creditors refused.
Hundreds of thousands of pounds are still owed from a previous company voluntary arrangement from 2003.
It was pressure from those creditors which led to the adjournment and now the consortium is being asked to find 10p in the pound to strike a deal.
"The older creditors are digging their heels in and it really is on a knife-edge," said administrator Peter Sargent.
A deal has to be found today to meet football rules otherwise the club faces demotion and possible liquidation.
For the latest news on the meeting follow the Halifax Town Clockwatch - click here. Full report and reaction in tomorrow's Courier.
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Weather for Halifax
Friday 10 February 2012
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