SWINDON Town have been hit with a threat of court action after being issued a writ for £1.2million by disgruntled investor Bill Power.

The County Ground outfit have been given until the end of the week to respond with Power, pictured right, at the end of his tether after months of accusations and counter-allegations.

Power's bid to takeover the club, along with the fans consortium, seems dead in the water with Town on the verge of sealing a major investment with a mystery foreign consortium.

But the former QPR chairman is insistent a £1.2million loan' be repaid in full and is prepared to take the case to court.

Town have always stated they believe Power's money was part of a share issue and, with neither party likely to give way, a courtroom battle seems the inevitable outcome.

A Town spokesman said: "We have received some correspondence from Bill Power's lawyers and it is in the hands of our lawyers. There is not a lot else we can say at the moment."

With a £900,000 unpaid Company Voluntary Arrangement hanging over their heads, with the initial payment deadline passed, Town are waiting to hear whether creditors have voted in favour of possibly extending the CVA.

The vote was closed on Monday and an announcement is expected soon from the administrators as to whether a meeting will be called to discuss the extension.

With Conference outfit Crawley the latest to be hit with a points deduction, after failing to meet their CVA, Town will be hoping the promise of some major new investment will win them more time.

It is thought the Portuguese-led consortium are moving closer to finalising the deal at the County Ground, although the club are still keeping the exact details close to their chest.

  • TOWN have sold out their 1,300 tickets for Saturday's League One opener at Northampton Town.

Meanwhile former Town midfielder Curtis Weston has signed a two-year contract with Leeds United, who have also snapped up rumoured Town target Leon Constantine.

Town boss Paul Sturrock could still be in the hunt for striker Derek Asamoah, with Shrewsbury insisting his move to Nice is anything but a done deal.

  • STEVE Adams put pen to paper on a six-month contract at the County Ground yesterday.