MANSFIELD Town have settled the winding-up petition served upon them by former joint owner Andy Perry.
Mr Perry - together with Steve Middleton and Andy Saunders - bought the football club from Keith Haslam in 2008 with each of the three directors injecting money into the club.
The winding up petition had been made by Tansley company Minotaur Asset Finance Limited at the end of August as part of a bid to recover an £85,000 loan, plus interest. None of the other former directors have asked for repayment of their loans.
The news is another positive for Stags and follows their memorable victory over Lnlcoln City, which has set up a lucrative FA Cup third round tie with Premier League giants Liverpool.
Chairman John Radford confirmed an out of court settlement had been reached and said: “The good thing about this cup run is that we have been able to settle the winding up petition.
“It breaks my heart when people put money into a club and then expect it back, it is something that I would never do.
“As a chairman of a football club, you put money and write it off as a loss. It is very hard for a club at this level to make money.
“I love Mansfield Town and I will always do my very best for the club.”