Good news...

[Coffin Ender]

...for Cambridge, which could mean good news for us.

 

Following discussions at the Department of Culture, Media and Sport, HM Customs & Revenue have agreed not to vote against Cambridge United's CVA.

Speaking to cambridgeunited.com after leaving today's meeting with Sports Minister Richard Caborn, senior officials from Revenue & Customs and the Football Association, and administrator Ian Carr, U's Finance Director Nick Pomery was delighted to announce, "The Customs & Revenue have agreed to allow the CVA (Company Voluntary Agreement) to move forward and they have confirmed that they will not vote against it.

"It is still dependant on the agreement of the Football League and the Football Conference, who were not represented at the meeting, and also on acceptance by the creditors at the creditors meeting, when we need 75% of those present to vote in favour of the agreement.

"However," he added, "we understand that the intention of the Customs & Revenue will be to abstain in that meeting. So as long as we have the support of the other creditors then we will be able to proceed."

Paperwork must now be prepared, and 16 days notice of the meeting must be given, so the creditors meeting is likely to take place around the 13th July.