The meeting coming three days after the football league's deadline of May 27th to come out on administration, but Finnity has today said that the football league are happy with the creditors meeting taking place on the 30th, which will please Magpies fans and perhaps help them sleep a little easier over the coming weeks.
Although 75 per cent of the creditors will have to accept the proposed bid, it is expected that an agreement will be reached for the club to come out of administration after 11 long and frustrating months.
The Magpies have been in administration since June 2002, with manager Billy Dearden and his players performing miracles to stay in the league with Dearden being very short of numbers in terms of players while he has been unable to sign a single player since taking over as manager in January 2002.
"The Football League were happy with the creditors meeting being held on May 30, and hopefully if the proposal is accepted that morning, we'll be able to complete a deal with the potential owners the same day," Finnity told the club's official website.
"There is a Football League board meeting on June 4, so that will provide the perfect opportunity to sign the club over to the new owners then, should everything go smoothly in the meantime." Added Finnity.