Leyton Orient Fans’ Trust still concerned about O’s despite settling debt to HM Revenue and Customs
PUBLISHED: 09:00 21 March 2017
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Adam Michaelson expresses worry that Brisbane Road club remain in a state of significant uncertainty
Leyton Orient Fans’ Trust have expressed their concern after yesterday’s events in the High Court and insisted the Brisbane Road club remain in a state of uncertainty.
The O’s settled their debt to HM Revenue and Customs, although it was confirmed they owe four other creditors.
LOFT were present at the High Court yesterday and board member Adam Michaelson explained the problems currently facing Orient.
He said: “There are a number of still outstanding creditors, including a number more that were not represented. It leaves the club in a state of significant uncertainty and, frankly, mortal danger.
“There is everything to suggest up until now that Mr Becchetti’s word can’t necessarily be relied upon.
“In respect of a potential sale, we would call upon Mr Becchetti now to look to sell the club at the earliest possible opportunity and make good on his promise that he’s made in order to do that, in order that it can be passed into the hands of people that clearly understand more about running this kind of organisation than he does.”
A LOFT statement, released yesterday, added: “Today’s events leave the club, its suppliers, its employees and all O’s supporters in a state of limbo.
“While the immediate threat of liquidation has been staved off until June, there is clearly a significant level of debt remaining.
“A further winding-up petition from HMRC cannot be ruled out, if the next bill for unpaid tax is treated the same way by Mr Becchetti as the last one.
“It is clear now that the only way Leyton Orient can hope to recover as a football club, both on and off the field, is for Mr Becchetti to sell, and sell as soon as possible.
“The three possible scenarios that the Regeneration Fund was set up for - negotiated sale, administration or liquidation - all remain on the table. The fund therefore carries on as planned while this state of limbo remains.”
LOFT confirmed they raised just under £6,000 during Saturday’s match with League Two leaders Doncaster Rovers.
The Regeneration Fund has now passed £114,000 and plenty of former O’s players and current fans are still fundraising.
“Our thanks to the very many supporters, of Orient and the wider football family, who have sent us messages of support in the past weeks. The fight to save Orient continues,” concluded LOFT.