Date: 11th August 2010 at 1:52pm
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Wednesday has today been given 28 days to settle its debts with the taxman following an appearance in the High Court.

The Owls were served with a winding-up petition by the HMRC for an unpaid PAYE balance of £550k and, despite already making a ‘substantial payment’, had to go through the process of attending the High Court hearing today.

The sale of Owls stopper Lee Grant has allowed the club to make the payment towards the balance, with the transfer imbargo slapped on Wednesday by the Football League being lifted as a result last week.

But the club has still to settle the bill and has been given 28 days to pay the remaining balance.

Huge Groves, who represented the club, also revealed that the club ‘are in very serious and advanced negotiations for the sale of the club.’

The Registrar has already dismissed petitions against Southend United and Cardiff City football clubs after being told the debts to HMRC had been paid.

And Wednesday are set to follow suit sooner rather than later.