Boro gain reprieve
12/6/2007
High Court decision goes in Boro’s favour
Scarborough Football Club was today able to secure an adjournment of the winding-up petition at Leeds High Court today, pending a full meeting of Scarborough Borough Council on 19th June.
The Borough Council will now have further opportunity to consider the club’s proposals to sell the McCain Stadium site to a third party.
The Council had last week taken the view that they were unable to accept the purchaser’s proposals because there were concerns that there was no guarantee that the new out-of-town stadium could be financed and delivered.
The purchasers have now written to the Council to give the required guarantees, in order that a positive decision can be made by the Council on 19th June.
On that basis, the Court was happy to give the club further time to bring its plans to fruition, which the Court accepts will be in the best interests not only of the club but also of its creditors.