High Court dismisses petition against Nottingham Forest after full debt payment
Jan 26, 2016 10:09 PM EST
The U.K. High Court announced Jan. 25 that football club Nottingham Forest F.C. had its revenue debt "paid in full." Nottingham Forest ended up in the Companies Court Winding Up List at case number 120 on Monday by HM Revenue & Customs.
On the day the list was released, Nottingham Forest was able to avoid appearing in court after it has settled a tax bill, British Telecommunications reported the same day. However, it is unclear why the company was listed on the petition, Nottingham Post reported the previous day.
Registrar Michael Briggs, who sat on the case, dismissed the winding up petition for the football club after it has paid the tax bill. The amount paid was not disclosed by any parties, BT noted.
The petition was not the first time Nottingham Forest ended on the Companies Court Winding Up List. On June 22, 2015, it was also slated to appear in the High Court but the club was able to settle its tax bill, Nottingham Post reported.
Back in 2014, the company was also petitioned by Le Bistro, a unit of stadium caterers Elior, to have Nottingham Forest wound up. The football club, however, was able to pay its £200,000 bill before it was asked to appear in the High Court, Nottingham Post added.
The U.K. Ministry of Justice regularly releases a Companies Court Winding Up List, which comprises of firms that were petitioned by creditors or banks to have them wound up due to unmet financial obligations. The companies were informed and given a limited time to settle their obligations. Failure to respond or act on the petition would have the firms end up in court for litigation. The legal nature of the petition was done to have the petitioned companies' directors be held liable for these unmet financial obligations.