The taxman on Thursday lost a bid to block proposals to help cash-strapped Portsmouth out of administration.

HM Revenue and Customs was seeking an order blocking a proposed Company Voluntary Agreement (CVA) put together by the club's administrators to help it out of administration. But on Thursday the High Court ruled in favour of the administrators.

Mr Justice Mann said: "I propose to find in favour of the company administrators and dismiss the application of HMRC."

The judge said the proposed CVA would stand.

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