Administrators could get directors to pay up

Administrators could get directors to pay up

Administrator Bob Young has told the Sentinel that they are investigating the club’s finances and have not ruled out legal action to force former directors to pay up over the ‘nil-paid’ shares fiasco.

The shares issued to Mr Deakin and Mr Miller were worth £500,000, but Port Vale never received a penny for them, and Young’s team will consider whether any action should be taken over their issuing.

“We’ve obtained the company’s records from the club’s former solicitors and we will see if there are grounds to recover money from former directors or shareholders,” he told the Sentinel.

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