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Pars out of administration

Dunfermline have announced that they have officially exited administration eight months after the future of the club was plunged into doubt.

Last Updated: 13/12/13 at 18:56 Post Comment

Dunfermline: Out of administration

Dunfermline: Out of administration

Fans' group Pars United completed their acquisition of the club from administrators BDO in October and the process was formally signed off by judges in Edinburgh on Friday.

A club statement read: "Pars United are delighted to report that BDO LLP has informed us this afternoon that DAFC has now officially come out of administration.

"This follows an interlocutor (a decree in Scots Law) being granted by Lord Woolman in terms of Paragraph 79 of Schedule B1 to the Insolvency Act 1986, which terminates BDO's appointment as administrators of Dunfermline Athletic Football Club Limited (company number: SC011580) from today's date (13th December 2013).

"This is another very significant step towards re-building our proud football club, not only as part of the fabric of the community of West Fife, but within Scottish Football."

Dunfermline were forced to call in the administrators in March with debts of almost £10million.

However, in July creditors - including former club owner Gavin Masterton - waived their right to that cash as they agreed to a Company Voluntary Arrangementwhich ultimately saved the League One outfit from liquidation.

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