The commercial court of Tarragona has issued the dissolution of the CF
Reus, launching the start of the phase of settlement of the red and black box, according to the Diari de Tarragona. The decision has been taken after no proposal
of
agreement to try to draw up a plan of economic viability and pay off the debt with the club's creditors.
The court's decision also includes the suspension of powers as owner of the entity of Clifton
Onolfo, who took over the club on January 20, 2019 and can appeal the sentence. The Reus bankruptcy administrator has a period of 15 days to establish a liquidation plan for the club.
Onolfo took over Reus after acquiring the share package that was in the hands of Joan
Oliver, whose management led the club to an almost desperate situation, which the American businessman could not rectify.
Let us remember that CF Reus entered bankruptcy in March 2019 with a debt of more than nine
millions
of euros. LaLiga expelled the club from the Second Division in January 2019 for accumulated defaults to its players. Since then the entity went into a decline that now concludes with the judicial decision on its dissolution.