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Football club 'set for insolvency regulation talks'

Published on 30 Jul 2009 under category: legal

The administrator of a Scottish football club is set to meet with officials today as it looks set to be shut down.

Livingston are understood to be on the verge of going out of business, insolvency solicitors may be interested to hear.

The deadline for owner Angelo Massone to sell his shares of the club has passed, with the administrator Donald McGruther now having to make members of staff redundant.

Mr Massone was offered a £25,000 buy-out, however, he has refused to sell his stake.

Administrator Mr McGruther has claimed that the Scottish Football League (SLFL) would have to allow the club to begin insolvency proceedings, as this is currently in breach of its rules.

David Thompson, SFL operations director, said: "Rule 76 says any club who goes in for an insolvency procedure are in breach of SFL rules. The committee then have full power to deal with it as it thinks fit."

Recently, figures from PricewaterhouseCoopers revealed that insolvencies in the travel industry have fallen in the last quarter.