The Almondvale football club could be at risk of going into administration after it was revealed a former director is trying to get the bank accounts frozen.
Ged Nixon is reportedly owed £300,000 from the club and is asking the Court of Session in Edinburgh to authorise an ‘Arrestment of Funds Order’. If the bank accounts are frozen, the club won’t be able to pay salaries and the club may be forced into administration.
The Scottish football club has been in administration twice before (back in 2004 and 2009) and failed to pay tax to HMRC on one occasion. This led to five points being deducted by the Scottish Professional Football League.
The Court of Session meeting is to take place tomorrow (Wednesday 10th December).
If the club goes into administration, administrators would take control of the business and protect the club against any legal action. There will then be enough time for either a restructuring strategy to be prepared or a potential buyer to be found. Any football club in the League that goes into administration will have points deducted.