Northampton Town loan: Money paid to creditors
A small amount of the missing £10.25m loan made by Northampton Borough Council to the town's football club has been repaid, following a court hearing.
The loan was for the redevelopment of Northampton Town's ground. A police inquiry into where it went continues.
The council was seeking £900,000 from County Developments Northampton Ltd (CDNL), which was set up to manage the development but ceased trading.
The court said the council should get £29,584 from CDNL's liquidators.
CDNL was also supposed to be redeveloping land alongside the Sixfields Stadium.
Civil court agreement
In a Company Voluntary Agreement made at Birmingham County Court in October, the liquidators agreed to a deal which would see creditors receive about 3% of what they were owed.
The agreement has been published on Companies House records.
Along with the council's share, £11,290 goes to the government in taxes and 1st Land Ltd gets £12,975.
1st Land Ltd is the company run by Howard Grossman which received the bulk of the £10.25m loan for the redevelopment, and it is also in liquidation.
The major creditor, the stadium builder Buckingham, agreed not to make a claim on this company, and it is still millions out of pocket.
The deal is possible because Northampton Town's new owners Kelvin Thomas and David Bower paid in £170,000 so that the leasehold of the land was not realised by the liquidators.
The club wants to negotiate a new deal with the council to develop the land.
Northampton Borough Council confirmed it had received the £29,584.36 and it was still pursuing other claims.
Ten people have been interviewed under caution and seven have been arrested as part of the Northamptonshire Police investigation.