A huge step in removing Owen Oyston from Blackpool Football Club could occur next week when the prospect of a Court Receiver being appointed is discussed in the High Court.
Valeri Belokon’s application to have a Receiver appointed to recoup the £25m he is still owed by Oyston will be heard next Wednesday, it has now been confirmed.
As revealed last month, Belokon’s lawyers Clifford Chance, who it is understood have already identified a Receiver, are considering going down this route to bring an end to the recent impasse.
The hearing will be heard at the Rolls Building in London in front of Justice Marcus Smith.
A Court Receiver would be brought in to discharge the assets of Owen and Karl Oyston as well as Segesta - which owns Blackpool FC, the stadium, the training ground as well as the Travelodge and Quernmore Hall.
Were a Receiver to be appointed, this would be an unprecedented move in English football and would involve a lot of uncertainty, involving the potential threat of a 12-point deduction by the EFL.
This is because under EFL rules, the appointment of a Court Receiver is deemed ‘an insolvency event’ in the same way Administration is.
The Oystons were ordered to buy out former director Belokon for £31.27m back in November 2017 after it was found they had illegitimately stripped the club of cash following promotion to the Premier League in 2010.
The judge found Belokon had been unfairly prejudiced and the club was put up for sale four days later.