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: Breaking Legal News

Tax service drops legal action against Portsmouth

By (Breaking Legal News)

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Portsmouth's survival hopes have been helped by Britain's tax authority dropping a legal challenge against the club entering a form of bankruptcy protection.

London's High Court on Tuesday suspended a winding-up order against the debt-ridden Premier League club that was being pursued by the revenue and customs service.

Gregory Mitchell, the lawyer representing the service, told the court that Portsmouth entering financial administration "offers the best chance of the club surviving".

Portsmouth is likely to be relegated to the League Championship. The south-coast club is bottom of the Premier League -- eight points from safety -- and is set to be docked nine points for entering administration.

Full post as published by Breaking Legal News on March 16, 2010 (boomark / email).

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