A-League team Wellington Phoenix's parent company fended off a liquidation threat today when it made a last-minute payment to settle outstanding debts, New Zealand's state-owned insurer said.
The Accident Compensation Corporation (ACC) had applied for a court order to put Century City Football into liquidation over failure to pay insurance levies worth $NZ260,000 ($US191,000).
The ACC said the row, which threatened the future of the team, was resolved when Century City Football paid off the debt on Tuesday. "It is unfortunate that it took the threat of legal action to achieve this payment," ACC acting chief executive Keith McLea said in a statement.
The ACC is a state-owned insurer that charges a levy on businesses, which is then pooled to provide a compensation scheme for employees injured in the workplace.
Earlier, it said Century City Football owed levies dating back several years and had failed to honour plans to repay the debt in stages. McLea said the company had further levies due and the ACC would again resort to legal action if they were not paid.
The Phoenix, New Zealand's only fully professional football club, are the latest team in the Australia-based A-League to face financial difficulties.