Northampton

Half the proceeds of Cardozas' home sale to be held back

David Cardoza
Image caption Solicitors are to keep half of the proceeds of sale from David Cardoza's £1.2m Church Brampton home

Solicitors are to keep half the proceeds of any sale of David Cardoza's £1.2m family home in case of further legal action, a court has ruled.

Northampton Borough Council initially prevented the sale of the house in an attempt to recover some of the £10.25m it loaned to Northampton Town Football Club while Mr Cardoza was chairman.

The house can now be sold and his wife Christina, its legal owner, is entitled to keep half the proceeds.

The council said it was satisfied.

The court papers for the hearing name Mr and Mrs Cardoza as well as Anthony Cardoza, David's father.

David and Anthony Cardoza were directors of Northampton Town Football club when it received the loan to build a new east stand at Sixfields. The stand was not finished and the money was not repaid.

A spokesperson for the council said: "We have reached an agreement about the proceeds of the sale of the house that protects the interests of the borough council and the taxpayer.

"We are satisfied with the agreement reached today, which is part of our continuing efforts to find out what happened to the loan made to Northampton Town."

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