Below is a three month price history chart comparing the stock performance of CVA vs.
FORBES: Covanta Holding Corp Larger Than S&P 500 Component US Steel
But further sanctions are possible if the club misses CVA payments, tax obligations or other liabilities.
The CVA would have allowed Leeds to pay off an acceptable amount of their debts to creditors.
Companies like Covanta (NYSE:CVA), which operates more than 40 Energy-from-Waste facilities throughout the United States.
Below is a three month price history chart comparing the stock performance of ENI, versus CVA and VVC.
Doubts had been raised over Leeds' future after the club failed to agree a Company Voluntary Arrangement (CVA).
At the closing bell, CVA is off about 0.1%, while X is down about 2.3% on the day Wednesday.
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When HMRC ruled against the CVA exit from administration, which should not have surprised anyone, the die was cast.
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For a CVA to be agreed, it must win the support of those owed at least 75% of the unsecured debt.
Football League chairman Lord Mawhinney met with both KPMG and Bates, telling them to change the CVA, which governs how much creditors will get.
Needing the support of those owed at least 75% of the unsecured debt, Pompey's proposed Company Voluntary Agreement (CVA) got 81.3% of the vote.
Failure to agree a CVA would have dire implications for the club, with liquidation (and an end to Portsmouth FC) being the most likely outcome.
Mawhinney said the new regulations "should also help prevent HMRC debt reaching levels that otherwise could hinder the potential rescue of the club through a CVA".
Andronikou as the club's current administrator and would-be CVA supervisor would be expected to take the lead here but precedents from previous football administrations are not encouraging.
Mr Preston asked for an adjournment to ascertain the size of the debt and pay it in full or allow a CVL or CVA to take place.
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The key issue for creditors will be how much money will be returned to them as part of the CVA, with most expecting a figure between 20-25p in the pound.
As HMRC is often more than 25% of a club's debt it effectively has the power to block a CVA and has recently been exercising its right to do so.
It can, however, ask for a place on a creditors' committee that will oversee Andronikou's likely supervision of the CVA and voting for that body will also take place on Thursday.
HMRC's debts make up only 18% of the unsecured total (everything apart from Chainrai's loan and smaller amounts owed to banks) so it cannot block a CVA proposal on its own.
If approved, that plan, a Company Voluntary Arrangement (CVA), will be drawn up by the club's joint administrators from UHY Hacker Young and distributed within five business days of Thursday's meeting.
Last week, Oddbins said that a majority of creditors had voted in favour of the rescue plan, known as a Company Voluntary Agreement (CVA), and wanted to see the company continue trading.
For his part, Andronikou remains confident he will be given the mandate to prepare a CVA and then later this month get the backing he needs to take the club out of administration.
Providing the CVA process goes smoothly, Pompey can expect to start next season's Championship campaign with no further points-penalties beyond the nine points already taken from them by the Premier League this season.
The only real opposition to the CVA - a requisite for clubs hoping to avoid further points penalties - came from HM Revenue and Customs (HMRC), which has 28 days to appeal against the decision.
Gail Larkham, a head from Surrey, said the CVA scores, as they are known, could not show improvements in very bright children because primary school Sats tests only measure up to a certain level (level 5).
Another meeting will then be arranged within 14-28 days to approve the CVA. This will require the backing of 75% of the club's unsecured creditors (based on amounts owed), whereas a straight majority will be enough on Thursday.
The Luton 2020 group have agreed a takeover package but they were unable to agree a Company Voluntary Arrangement (CVA) with the club's creditors - and the Football League board have now decided they must face the deduction.
Lead administrator Andrew Andronikou is not obliged to divulge details of the CVA on Thursday (as he is only asking for permission to prepare one) but it would be a surprise if he does not give an indication of the pay-out.
So far that interest has not got much further than internet speculation but with Portsmouth now less likely to face a further points penalty for failing to secure a CVA, and approximately two-thirds of the club's overall debt wiped away, it is, at least, a going concern again.
David Lampitt, Portsmouth's new chief executive, was in no doubt about the importance of the CVA vote, describing it as a "hugely significant day for the club" and any fears Pompey may not be able to fulfil its first fixture in the Championship next season - a trip to Coventry City - can probably be dismissed.
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