Dundee limp on after CVA is agreed

Dundee’s creditors today accepted a CVA which gave them 6p in the pound on the outstanding money they were owed.

It’s not quite the end of the road for the Dens Park men just yet, as anyone who voted against the CVA today has 28 days to lodge an objection, but it is a giant step forward.

Their may yet be one major objection as HMRC were one of three people to vote against the proposal, the other two were former management team Billy Dods and Gordon Chishom.

Under SFL rules the players who were paid off have to be paid in full, thus making them, in the eyes of HMRC, a preferential creditor. This could lead to the tax man coming back looking for all of his money, and could still spell the end for Dundee.

Dundee look as though they will survive this whole administration affair in good shape. They are likely to stay in the First Division, having already over taken Stirling Albion at the bottom of the table despite effectively giving them a 25 point start!

It would be a shame to lose a club of the size and stature of Dundee, and we can only hope they have learned their lessons having gone into administration twice now.

Also we need to hope that whatever change is proposed by the SPL for the future of the game that grand old clubs like this are looked after and are allowed to thrive.