The proposals made by Caley Thistle’s administrators BDO regarding the club’s debts of more than £3.8million with creditors have been approved.
BDO last month revealed the list of creditors and how much money the League One club owed them.
It was confirmed on Wednesday on Companies House that a creditors’ decision has been made on the proposals put forward by the administrators and this document will be made available in the next 10 days.
No agreement with creditors regarding their debts has been reached at this stage but BDO have confirmed their strategy to continue to trade, seek a buyer and propose a Company Voluntary Arrangement to creditors has been given the green light.
A short statement from BDO read: “We can confirm that our administration proposals were approved.”
The Highlanders, relegated from the Championship in May, officially entered administration on October 22.
Former players, coaches and board members owed money
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.
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