MX23RW : Wednesday, December 2 12:54:19| >> :600:996864:996864:

League Two Southend United settle tax debut

League Two Southend United settle tax debut
© Reuters
The Sky Bet League Two club had an outstanding debt of almost £500,000 to HM Revenue and Customs.

Southend have settled their tax debt and a winding-up petition against them has been dismissed in the specialist Insolvency and Companies Court.

The Sky Bet League Two club had been given more time to settle an outstanding debt of almost £500,000 to HM Revenue and Customs at an adjourned hearing in September.

Chief ICC Judge Briggs was told at a remote hearing by a lawyer representing Southend that all debts had been paid in full on Wednesday morning.

The winding-up petition had been adjourned for a fourth time last month to allow Southend to continue repaying the debt in instalments.

Southend have been able to refinance the club after it was announced in April that agreement had been reached with the local council to sell their Roots Hall ground to planning developers.

Over 500 new homes are planned to be built on the site when the club move to their new Fossetts Farm stadium.

ID:420088:cQx

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General view of Southend United's Roots Hall from July 2015
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