This is an offering on Crawley's forum - from an Oxford supporter.
''I wouldn't believe a word that Vaughan says. The reason that this has come to a head is because two weeks ago the CVA which Chester entered into (and which was a condition of their entry into the Conference this season) was revoked by the courts. It was revoked because Vaughan's company had claimed to be owed £2.2m by the club, but less than £600k could be substantiated, so the courts threw it out.''
With the CVA failed, it means Chester's debts are more than the two sums owed to the other clubs, so it seems right in the circumstances for the Conference to hold onto the money to ensure that it goes to the club's creditors rather than into Vaughan's pocket.
It's a bit of a mess really - we should know based on Crawley's past history. By the way one of our past investors is doing 'porridge'

.