Liquidation threat lifted at Notts County

The threat of liquidation hanging over Notts County has been lifted after a “dramatic compromise” was reached at the High Court in London yesterday (24 May), according to reports in the national media.

The Magpies were being pursued for debt of more than £600,000 by Pinnacle Advantage, a company owned by former Notts owner Ray Trew.

New owner Alan Hardy, who on Twitter this morning (25 May) described the event as “the least dramatic event of the week”, has been trying to agree a settlement with Pinnacle, which itself was placed into liquidation last July.

Simon Johnson, appearing for Pinnacle at the High Court, told Miss Registrar Derrett: “A dramatic compromise has just been signed outside court”.

James Pickering, representing Notts County, confirmed the compromise.

As there were no other creditors the registrar declared: “The petition is dismissed with no order as to costs.”