Cardiff have confirmed that the winding-up petition against the club has been officially withdrawn following their High Court hearing in London on Wednesday morning.
As previously reported, the club last week settled the outstanding £1.9million owed to HM Revenue and Customs (HMRC) that threatened their existence over the second half of the 2009/10 season. However, Wednesday's scheduled court date was set last month and it was only then that the petition could be formally discharged.
The news means the transfer embargo hanging over the Championship outfit can now be removed. New chief executive Gethin Jenkins told Cardiff's official website: "This is obviously good news for the club as we start to build a strong foundation upon which the business and the team can properly function. We can now look forward to the season and to develop our ongoing recruitment plans."
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