CREDITORS who hold the future of Darlington Football Club in their hands have been informed why a crucial meeting was postponed.

Administrators acting on behalf of the Quakers have written to all the club’s creditors at the request of The Football League, to clarify matters and offer them a chance to change their vote.

The meeting of the company’s creditors was to take place on Wednesday, but has been postponed for eight days.

Administrators Brackenbury Clark and Co placed a notice on the club’s website and wrote to all creditors.

The letter said: “The adjournment was granted at the request of The Football League, given that the main asset of the company is its shares in The Football League.”

The letter explained details about the proposed company, Darlington FC 2009 Limited, as well as three of the creditors.

It highlighted that Darlington FC 2009 had been set up to buy the company’s assets from the administrator, but that a third party could buy it before the Company Voluntary Agreement (CVA) is completed.

No directors have been registered for Darlington FC 2009 Limited, although former chairman George Houghton is preferred creditor and it is intended he would become the director and majority shareholder.

The letter also pointed out that Philip Scott and Graham Sizer, as mortgage holders, and former vice-chairman Raj Singh would rank alongside other unsecured creditors in the proposals.

However, because they have security in Darlington FC Holdings, the balance may be paid to them through the Holdings by Mr Houghton or a third party.

The letter added: “The administrator’s proposals and the CVA are correct in their current form, but the above points should be considered in conjunction with these documents.

These points are the only issues raised by The Football League.”

Creditors will vote on the CVA proposals at the meeting.

It requires the backing of creditors owed at least 75 per cent of the £7.8m. Unsecured creditors have been offered 0.9p in the pound.

Dave Clark, from the administrators, expected the CVA to be passed at the rearranged meeting, which he believed would enable the club to escape any potential further pointS deduction.

A spokesman for The Football League said he could not comment further on the delay at this stage.

He added the league retains the club’s Football League share until a board meeting is convened to decide on the CVA and whether to impose any further penalty.