Dunfermline Athletic’s future hangs in the balance as creditors prepare to vote on a deal which could see the Fife club come out of administration.
Those owed money by the Pars will gather at East End Park at lunchtime to consider a Company Voluntary Arrangement (CVA) offering them a pennies-in-the-pound package put forward by fans group Pars United.
Three quarters of creditors by value must vote to take the club forward and a positive outcome will pave the way for the club to come out of administration.
Although there is great optimism that a CVA will be passed to prolong the club’s 125-year history, administrator Bryan Jackson has already warned that a ‘no’ vote will almost certainly put the Pars out of business.
HMRC, who instigated legal proceedings in the first instance over an unpaid tax bill of around £134,000, are likely to reject the CVA proposal as a point of principle, suggesting it is unfair that football clubs owed money will be paid in full while business creditors will only receive a fraction of what they are due.
Pars United are, however, still confident their plans for the club and the Pars’ East End Park stadium, which was named preferred bidder a few weeks ago, will be progressed.
For more on this story pick up a copy of The Courier or try ourdigital edition.