Exeter close to CVA
Exeter City are almost certainly going into a CVA. The supporters group now controlling the club believe they will be able to get agreement with the main creditors before a court apperance, which luckily has been postponed from tomorrow to a date to be arranged, when they are due to answer a winding-up call from property developer Eagle One, who are owed £116,000 plus interest.
Stephen Allison, an insolvency expert and incidentally a director of Yeovil, has been advising the club on its finances. He expects that the club could strike a deal with its creditors before the court appearance can be rearranged.
"We are hoping to get the (CVA) sorted for the middle of next week," he said. "We are not anticipating the court case to be any great drama."
It is still possible that Exeter could have 12 points deducted from them for going into a CVA but the Christmas/New Year fixtures with Hereford United now seem assured.
Meanwhile, a very old Hereford United programme was sold at Sotherbys in London this afternoon. The programme, one in a lot of six, was from a game with Kidderminster Harriers in the Birmingham League at Edgar Street from the 1937/38 season. The lot was valued at £650 but sold for £960.