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Leeds ordered to repay loan

Leeds have been ordered to repay a loan of nearly £1million by the High Court after being served with a winding-up petition.

Last Updated: 10/06/14 at 19:41 Post Comment

Leeds: Ordered to repay £1m loan

Leeds: Ordered to repay £1m loan

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The Sky Bet Championship club could be wound up if the debt - a £950,000 loan - is not paid.

However, a barrister representing the club told a hearing before a registrar at the High Court in London that payment could be "made very quickly".

Another hearing of the case is scheduled for June 23.

The registrar was told that money Leeds owed to the taxman had already been paid - that amount was not disclosed.

"The club wants time to pay," Rory Brown, for Leeds, told Deputy Registrar Chris Garwood at the hearing in the Companies Court - which is part of the High Court.

"The payment can made be very quickly."

Lawyers said Leeds' owner Massimo Cellino had paid money owed to HM Revenue & Customs.

And Mr Garwood told the hearing: "There is nothing which prevents him paying this debt if he doesn't wish the company to be wound up."

Mr Garwood heard that the money had been loaned by a company set up by the club's former managing director David Haigh.

The company, Sport Capital, had complained that it had not been paid and had launched a winding up petition.

Leeds on Tuesday argued that the petition should be "struck out".

Lawyers said the money was loaned by Mr Haigh not by the company, and said the company was "not a creditor".

They suggested that the winding up petition had been launched to "exert pressure" on the club.

And Mr Brown said the club was in the process of investigating whether it had been "defrauded" by Mr Haigh.

He said the club was concerned that it may be "in receipt of stolen money".

Mr Garwood dismissed Leeds' application for the winding up petition to be struck out.

He concluded that Sport Capital had loaned Leeds the money and said the club was "scratching around".

He dismissed Leeds' concerns about being in receipt of "stolen money" - saying there had been no findings of criminality.

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m only commenting on this (I don't care about Liverpool) because F365's twitter said I had call Matt Stanger a tw*t (which I don't agree with anyway) but I just wanted to be the first. Am I the first?

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unday, Sunday. Will there be a fan of either team, who if they are winning after 80 mins, won't still be nervous? This could be anything from 0-0 to 5-5, and no one would bat an eye.

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his year I am getting F365 a whack-a-mole game but with Brendan instead of the mole (Like the one with JD on Scrubs) and every time he pops up he says something. Outstanding Whack!, Character Whack!, Magnificent Whack!, Wonderful Composure Whack, Whack f**king Whack. Hours of fun.

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