Deal done: Frankston Dolphins FC has been saved from extinction. Picture: Gary Sissons
FRANKSTON Dolphins Football Club will fight on and hope to be readmitted into the VFL in 2018 after creditors voted to accept partial payment for outstanding debts.
Worrells, the administrators of the club, met with creditors on Friday (28 October) at the clubs premises and a deal to save the 129-year-old footy club from extinction was accepted by those owed money after the club went into voluntary administration in August.
Worrells Solvency and Forensic Accountants managing partner Paul Burness said unsecured creditors voted to accept partial payment of monies owed over four years with the first payment due to be made in September next year.
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Read the full article at: http://mpnews.com.au/2016/10/31/dolphins-saved-from-debts-demise/