Following their hearing in the High Court, Plymouth Argyle have been given 63 days to settle their tax bill with HMRC.
The Pilgrims owed the taxman in the region of £760,000 and today’s hearing could have seen Argyle face liquidation. There was also the possibility of being placed in Administration which would include a ten-point deduction that would have put Argyle at the foot of the League One table.
If the money is not found by the end of those 63 days, then the Pilgrims will appear again in court February 9th 2011.
A legal team acting on behalf of the Pilgrims told the court that they are seeking new investors, one of whom is believed to be former Leeds United and Cardiff City Chairman Peter Ridsdale, and would be able to sell players, if necessary, in the January transfer window to raise the funds.
However, despite these problems, manager Peter Reid is remaining positive ahead of Saturday’s Devon Derby with Exeter City and has said that the players will do everything they can to get through their current situation.
