Southend United winding up petition dismissed

A consortium led by an Austrialian businessman is hoping to buy the club

The winding-up petition hanging over Southend United has finally been dismissed.

At the High Court on Wednesday, legal firm Stewarts Law LLP, who represented the club at previous hearings, and the petition’s supporting creditor - a former club sponsor - both said they supported the dismissal.

The club’s chairman, Ron Martin, who was at the court, also said he supported the move. It is understood a deal with the former sponsor was agreed this morning.

Fans of the National League side have spoken of a "rollercoaster" of emotions during the long-running saga over the club's future.

On Tuesday, Stewarts Law said they had agreed a settlement with the Blues over unpaid debts and would ask for the case to be dismissed.

Earlier this week, Southend were ordered by the National League to post a £1m bond because of uncertainty over the club's financial situation.

The Custodians of Southend United - a consortium led by Australian businessman Justin Rees hoping to buy the club - said the bond had complicated its takeover bid.