The majority of creditors chose to accept an offer of 20p to the pound, meaning the CVA will be accepted as long as the court of law agrees it.
There is a 28 day "cooling off" period where anyone who rejected the CVA can contest it, so expect HMRC to challenge it after being the main creditor to reject the offer.
So, the saga may not have come to an end just yet but after so much doom and gloom it's great to finally have some good news!
With the CVA accepted, Pompey should now be able to appoint a manager, who is likely to be Steve Cotterill wand he may well be unveiled as the new boss tomorrow.
Hopefully, having a CVA may mean that the Football League may lift the transfer embargo so we can start loaning some players and signing some freebies.
Pompey have already been linked to Tottenham youngsters Danny Rose and Kyle Walker as Harry Redknapp is seemingly willing to loan them out to us so they gain first team experience.
Arsenal's young defender Kyle Bartley has also been linked with a loan move, whilst Marlon Harewood's agent has expressed his player's interest in coming to Fratton Park.
I expect plans may begin to take shape within the week, and we might actually be able to have a fairly good season so long as there aren't any more twists to come in this tale.