The CVA proposal by Hereford United has been rejected by creditors at today's meeting.
The meeting went for nearly two and a half hours as creditors quizzed the IP Marc Landsman and the trio of board members present. Debate centred around the budget projections, with a letter being produced and shown to one creditors of an offer of a six figure sponsorship. The letter was dismissed as not being credible by the shareholder due to the geographical location of the company.
The new owner of Tommy Agombar's debt and shares was named as Alpha Choice Finance Ltd of Essex. It's sole director is Alan Gerald McCarthy, listed on various searches as an Irish Accountant.
Creditors were told by Landsman that HMRC, whose debt was now up to £170,000, had already rejected the CVA proposal. He took only a few minutes to glance at the votes of those in the room before declaring the CVA to have been rejected as it was obvious it was not going to pass based on the votes he'd seen.
There is now an uncertain future for the club. Directors were discussing their next move as creditors left the room.