But that article, from the end of last month says:
"It is believed HMRC officials at the meeting were keen to approve a CVA on condition the club could be investigated. Only liquidation would permit that. HMRC currently owns about a quarter of Portsmouth debts, potentially giving it significant influence over the administrators’ plans, which need the approval of 75% of the creditors by value"
We now know that HMRC won't approve the CVA.