Teetering TTFA Turns to Country’s Insolvency Laws to Save Itself

The crippling debt crisis that has plagued the Trinidad and Tobago FA (TTFA) took another turn yesterday with the TTFA seeking protection from outstanding litigation via the islands’ bankruptcy and insolvency laws, Inside World Football reported. A number of claims against the TTFA had now progressed through the courts to the point where the TTFA was getting dangerously close to being wound up. The court filing on November 8 automatically stops further progression of those cases. The TTFA in a statement said that it had “notified the Supervisor of Insolvency of its intent to make a Proposal under the Bankruptcy and Insolvency Act of Trinidad and Tobago which will enable a structured approach to the restructuring of the TTFA and the preparation of a fair, transparent and acceptable payment proposal to address the TTFA’s debt.” Already under the control of a FIFA-appointed Normalisation Committee (NC), a trustee has now been appointed – Maria Daniel – in a bid to negotiate a debt repayment proposal. Read more.