Dundee are a step closer to exiting administration after the deadline passed for objections to their Creditors' Voluntary Arrangement.Bryan Jackson of administrators PKF said the club could now pay dividends to creditors and stabilise the future of the Scottish First Division club.
He said: "There are still a number of issues to be dealt with and we must expedite these accurately.
"I would expect the club to be out of administration by the season's end."
Dundee went into administration for the second time in October 2010, with debts upwards of ?2.3m.
More than ?400,000 of that was owed to HM Revenue and Customs, but Jackson says discussions with the tax authority have ended positively for the club.
"HMRC did request further information following the CVA agreement and I have had extensive communication with them over the last four weeks," he said.
"Now that the period for objection has passed this means that we can now continue to process the CVA as quickly as possible.
"Paying the dividend to creditors and working closely with the new management and shareholders are the next issues to be dealt with and I would expect the club to be out of administration by the end of the season."
Last month, more than 81% of creditors voted to accept an offer to pay 6 pence in the pound of the money owed to them.
Those who voted against the offer had 28 days in which to make their objections but that time has now lapsed.
The settlement does not include cash owed to former players. They will be dealt with by the new owners as failure to deal with football staff separately could incur further sanctions by the Scottish Football League - the league imposed a 25-point penalty on the Dens Park club in November.
In a statement on the
club's website,
Dundee chief executive Harry MacLean said: "There has been a lot of work done to get to this stage, and getting through the CVA is a massive hurdle.
"The club will be meeting with the administrators over the weekend and in the week ahead to determine the way forward.
"There's still a lot of work to be done, not least making sure that we stay in the First Division, that's our main focus now. Until today getting through the CVA process was the most important thing."
Source: BBC Sport
Source: BBC Sport