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Dundee FC granted CVA

Dundee Football Club has secured a creditors’ voluntary arrangement (CVA) which has prevented the Irn Bru Scottish League side from almost certain liquidation.

Administrator Bryan Jackson secured an 81% backing for the six-pence in the pound deal with 75% being the minimum requirement.

The CVA has been funded by the Dundee Football Club Supporters Society (DFCSS) who contributed £150,000 and are expected to be majority shareholders of the club when it exits administration.

 

Scott Hobro

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