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"We met with them for just over an hour and it was very wide ranging with topics including the Danny Shittu deal, the use of transfers and loans - not only with QPR in administration but also in general" said David Davies.
"We had a good hearing and the executive will now make a presentation to the rest of the directors on Thursday. We are hopeful that we will have a decision at the end of this week or early next week. We now have to wait for their decision but I can assure fans that it was a very fair hearing."
Alex Winton has confirmed that if the embargo is not lifted, the decision will be challenged. He said: "We would be inclined to take it to the High Court, even though that would cost money and we wouldn't want to go through that.
"The creditors have no objections to what we have been doing and neither have the administrators. This has all come about because of the actions of another club."
Swindon Town had their second transfer embargo of the season lifted today. The embargo was put in place after Swindon failed to pay £48,000 for a sell-on clause on Gary Alexander who was sold to Hull City for £160,000.
The money came from another sell-on clause from Wolves for striker George Ndah, who has now played 40 games for his new club. Ironically, QPR once offered £1m+ for Ndah — the last occasion QPR offered a seven-figure fee for any player.