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Chester City FC: Blues are out of administration
Jun 11 2009 Chester Chronicle
CHESTER City FC have moved out of administration this afternoon and now are likely to be accepted into the Football Conference at its AGM on Saturday.
The Company Voluntary Arrangement (CVA) put forward by City’s administrators Refresh Recovery Limited was accepted by the club’s creditors.
Under the CVA, Stephen Vaughan, who placed the Blues into administration last month as their major creditor and shareholder, will return to the helm at the Deva Stadium.
He is the man behind Chester City Football Club 2004 Limited, the company who are the club’s new owners after their bid of £290,000 was accepted by Refresh Recovery.
Log on to www.chesterchronicle.co.uk for the outcome of Saturday’s Conference AGM.
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