Former Livingston chief executive Ged Nixon has called off plans to secure a court order to ring fence around £300,000 of the West Lothian side’s cash.
Nixon was due to attend the Court of Session in Edinburgh today, looking for an arrestment of funds order to freeze £300,000 that he claimed he was owed.
The Championship side, currently sitting bottom of the league, had warned that they were in danger of going into administration for a third time if their former chief was successful in his court action.
Nixon quit last year following a fall out with main shareholder Neil Rankine and decided on court action to recover a loan paid to the club.
Both parties reportedly agreed a deal yesterday and Nixon called off court action to ring fence the club’s money, a decision on if Nixon is to be paid his loan back will be heard on February 6th 2015.