Notts County given four-week stay of execution by high court

Notts County were given 28 days to pay off their creditors in the high court today. HM Revenue and Customs presented a winding-up petition this afternoon over a £324,206 outstanding debt but the taxman accepted that a 28-day adjournment would be in order for the club to settle the debt in full. However, HMRC pointedly applied for that period of grace to be marked "final". If the funds do not arrive in the next four weeks HMRC will seek immediate liquidation proceedings. Marston's plc appeared alongside HMRC seeking repayment of the club's £95,000 debt to it, with a third creditor also represented commanding a debt of £3,791. Neither of the supplementary applicants was willing to apply for an adjournment, however the registrar found that because this was the first hearing in the matter, the four-week deferment would be appropriate. Chief among the concerns of Marston's was that any fresh funds received at Meadow Lane would be consumed by ongoing operating expenses. Marston's dismissed Notts executive chairman Peter Trembling's talk last night of fresh investment as mere "rumour".