Plymouth Argyle moved a step closer to coming out of Administration after agreeing a deal with the club's creditors.
The CVA (Creditors Voluntary Agreement), which received support from more than the 75% majority required for the deal to accepted, will see the club's creditors receive less than a penny of every pound owed.
Administrator Brendan Guilfoyle also revealed that a deal had been struck with a preferred bidder, stating that it is not anyone with a previous connection with the Pilgrims.