Linnets survival fight goes to the wire
Paddy Davitt King's Lynn's fight for Unibond Premier Division survival will go right down to the wire.Linnets' officials have until lunchtime today to convince the High Court to rescind a winding up order triggered by a �67,000 tax bill.
Paddy Davitt
King's Lynn's fight for Unibond Premier Division survival will go right down to the wire.
Linnets' officials have until lunchtime today to convince the High Court to rescind a winding up order triggered by a �67,000 tax bill.
The club's hierarchy were still late last night locked in talks to agree a payment plan to address the remaining outstanding debts at Norfolk's biggest non league outfit.
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But the EDP understands Lynn now have the cleared funds in place to settle the tax debt and will request more time from court officials to pay off remaining creditors.
The club have also held positive discussions with their bankers who along with Her Majesty's Revenue and Customs are the two biggest creditors owed money.
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Majority shareholder Michael Chinn was unable to attend an emergency meeting in Leicester last night with Lynn's players who wanted guarantees over unpaid wages.
Chinn, however, did reassure Linnets' player/boss Carl Heggs the current three man board are confident of preserving the club's league status.
The EDP also understands the club's coach operator has been notified Heggs' squad will be travelling to North Ferriby this weekend to resume Lynn's league programme.
High Court officials - in tandem with the Official Receiver and the Liquidator - must rubber stamp the club's rescue plan before Lynn's survival is confirmed.
The club's board have been unable to attract fresh investment despite chairman Ken Bobbins' pledge they were prepared to walk away if a potential saviour had come forward.
“Let me be clear in all this,” said Bobbins. “Neither I or the other two are asking for anything out of this. We've always said if they are prepared to take it on we'll walk away and if we did we would be walking away and giving up our loans and shares which amount to a lot of money - provided someone is prepared to come in and save the club.”
