Despite the fact that no agreement has been reached with creditors regarding their debts, BDO has confirmed that their plan to continue trading, find a buyer, and offer a Company Voluntary Arrangement to creditors has been approved.
On Wednesday, Companies House confirmed that a creditors’ decision has been made on the proposals made by the administrators, and this document will be made available within the next ten days.
“We can confirm that our administration proposals were approved,” said a brief statement from BDO.
After being demoted from the Championship in May, the Highlanders formally went into administration on October 22.
Details show ICT have more than 140 creditors, including seven players and coaches who were made redundant, amounting to over £3.8m.
Former chairman Ross Morrison is owed the most – £1,650,251 – with former directors Allan Munro owed £661,500 and David Cameron £410,000.
Another former club chairman David Sutherland is owed £252,500, while ex-ICT director Liam Dalgarno’s tally is £100,000, with current director Graeme Bennett due £80,000.
Scot Gardiner, who was chief executive until this summer, is owed £70,000.
HMRC is a major creditor, with £149,538 outstanding, while John Gibson is owed £100,000 and Roddy Ross £80,000.
Other football clubs, who ICT have loaned players from, are also owed money, as follows: Everton (£18,340.26), Dundee (£3,982.60), Ross County (£2,147.65) and Manchester United (£289.57), while the Scottish Football Association are due £700.
