Mansfield Town have today won breathing space from moves to have it wound up at London’s High Court.
Registrar Jones adjourned the winding up petition issued by Minotaur Assets Finance Ltd, a Matlock-based company, after lawyers for the club told him that the debt is “disputed.”
The judge adjourned the case to allow each side to produce evidence and a pre-trial hearing has been scheduled for seven weeks time.
Had the club been compulsorily wound up today, this would have effectively handed its affairs to an Official Receiver.
His job would then have been to do his best to ensure that debts were paid off by selling any assets available and then bringing business to a close.
The club were served with a winding-up petition relating to a loan made to the club by former joint owner Andy Perry.
Andy 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.
It has been revealed that legal efforts are being made to recover that loan, £85,000, plus interest. None of the other former directors have asked for repayment of their loans.