Crystal Palace creditors approve agreement
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Crystal Palace creditors approve agreement

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The majority of Crystal Palace Football Club's (CPFC) creditors have backed an agreement (CVA) that will enable the CPFC 2010 consortium to complete its takeover of the club.

Only one creditor - HM Revenue and Customs - voted against the company voluntary agreement (CVA), which will allow the consortium to buy the Coca Cola Championship club and its Selhurst Park stadium. Brendan Guilfoyle of the P & A Partnership - appointed as joint administrator of CPFC in January - confirmed the CVA is the "final part" of efforts to secure the future of the club, which had faced the prospect of being liquidated.

Guilfoyle said: "All we need now is the Football League's approval of the proposed new owners of the club." Meanwhile, Leeds City Council (LCC) has completed a deal to buy the home of Farsley Celtic Football Club (FCFC) - Throstle Nest - from administrators in a bid to safeguard the future of the club.

FCFC went into administration in June 2009 and was disbanded earlier this year after efforts to save the Blue Square North club failed. However, the main part of the ground will be sold to FC2010 - the reformed club's name. LCC executive member for leisure Adam Ogilvie said: "Completing this deal also allows Chartford Homes to move on with plans for its proposed housing development, which includes making funds available for improvements to the sports hall and the creation of two new junior soccer pitches.

"We look forward to following the re-formed club in the league next season."

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The majority of Crystal Palace Football Club's (CPFC) creditors have backed an agreement (CVA) that will enable the CPFC 2010 consortium to complete its takeover of the club.
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