Coventry City Independent Non-Executive Director Mark Labovitch has said that the club will pay Arena Coventry Limited the £590k they owe as per their agreement with the Football League.
The deadline for the payment is May 31st although which some City officials have, according to the Coventry Telegraph's Simon Gilbert said that the £590k would have received by ACL for unpaid rent if a company voluntary agreement (CVA) had been signed at the start of the season. cannot be paid until CCFC (Holdings) Ltd is liquidated.
Mark Labovitch said: “Whatever the outcome of the liquidation we will pay them (ACL) what they would have recovered if they had accepted the CVA.
“I can’t comment on the bank transfer mechanics but we honour our agreements with our industry body - end of.
“There are two modalities of timing, one was the end of May. The other was at the end of the liquidation process. The long and the short of it is, if we make an agreement with the Football League, we will honour it.”
Full story - http://www.coventrytelegraph.net/news/coventry-news/coventry-city-official-insists-club-7087138