Leyton Orient’s winding-up petition dismissed
- Credit: Archant
Francesco Becchetti settles debt with four creditors
Leyton Orient’s future remains in limbo despite the club having their winding-up petition dismissed this morning after chairman Francesco Becchetti paid off all creditors in full.
The O’s case at Rolls Building was heard just after 11am and as expected, all debts had been settled.
It means Orient live to fight another day with creditors such as Centre Circle Events Management and London Borough of Waltham Forest paid off in full.
O’s previously appeared in the High Court on March 20 over an unpaid tax bill to HM Revenue and Customs.
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Having settled the debt to HM Revenue and Customs, it emerged four other creditors were still due money.
But Becchetti has now paid them all off in full, which at least means Orient will not go into administration.
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If O’s had gone into administration, they would have started the new National League campaign with a points deduction.
Therefore a positive for Orient is that they have at least avoided administration, but a lot of questions remain unanswered.
The hope will be that Becchetti setting this debt will allow him to sell the club and end his time in east London.
But the worry will be that the Italian remains in charge and O’s continue in their current state of decline.