DUNFERMLINE ATHLETIC have officially exited administration with fans' group Pars United fully in control of the club.
The club's administrators BDO informed the Pars that their appointment had been terminated by Lord Woolman during a hearing in Edinburgh on Friday afternoon.
They were forced to call in administrators in March after HMRC lodged a petition for a winding up order of the club over an unpaid tax bill of £134,000 as the club struggled under the weight of debts of around £10 million.
Although a Company Voluntary Agreement (CVA) was approved by creditors to allow Pars United to take over the club in July, a petition for an interim interdict from former owner Gavin Masterton in October to stop BDO from ending the club's lease with Fife Council for the training ground at Pitreavie – effectively blocking the sale of the club to Pars United - was rejected by Lord Woolman at the Court of Session.
That decision allowed Pars United's takeover of Athletic to proceed and the club is now fully in the hands of the supporter-led group.
A club statement added, "This is another very significant step towards re-building our proud football club, not only as part of the fabric of the community of West Fife, but within Scottish Football." There will be more reaction to Pars move out of administration in this Thursday's Press.
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