I'm innocent, insists Clattenburg
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Mark Clattenburg has been suspended from refereeing duties pending enquiries into reports of the official's alleged debts.
Clattenburg is alleged to have run up debts relating to companies connected to him, forcing the Football Association and the referees body Professional Game Match Officials Ltd to act.
Clattenburg was due to take charge of Sunday's FA Community Shield clash between Manchester United and Portsmouth, but has now been replaced by Peter Walton.
With the new Premier League season due to start in nine days' time, Clattenburg will also not officiate in any other games until the issue has been resolved.
A joint statement from the Football Association and PGMO read: "PGMO is aware of media reports concerning alleged debts incurred by companies connected to referee Mark Clattenburg.
"It has been decided he will not officiate any matches pending enquiries into the background to these reports.
"The FA has also decided to appoint Peter Walton as referee for Sunday's FA Community Shield between Manchester United and Portsmouth in place of Mark Clattenburg."
A PGMO spokesman added: "It is in the best interests of Mark Clattenburg and the game that these reports are fully investigated and, during that time, he will not referee any matches.
"Mark Clattenburg is one of England's leading referees and we hope to resolve this matter swiftly."
Clattenburg's firm MC Electrical Retail NE Ltd was wound up under the Insolvency Act on June 27, Newcastle County Court confirmed.
Friend John Hepworth took legal action in a bid to recover a debt reported to be almost £60,000.
In May Mr Hepworth served Clattenburg's firm with legal papers demanding £59,589.
When it failed to pay, he took the case to the county court and MC Electrical Retail NE Ltd was wound up.
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I'm innocent, insists Clattenburg
Referee Mark Clattenburg is hopeful of a return to football soon after responding to allegations relating to company debts connected to him.
Clattenburg was dramatically dropped from refereeing last month's Community Shield clash at Wembley just hours after the Football Association and the PGMOL, the referees' professional body, were alerted to the claims.
The 33-year-old has been suspended ever since but when asked if he was convinced he would be vindicated and allowed to resume his refereeing career, Clattenburg was optimistic.
He told The Daily Mail: "I would hope so. You don't know, do you? You can't guarantee anything.
"I can't guarantee what's going to happen tomorrow, I can't guarantee what's going to happen the next day. At the end of the day, the truth will come out.
"Why wouldn't I (be reinstated)? I'm innocent. When I come back to refereeing, I'll just smile."
Clattenburg's firm, MC Electrical Retail NE Ltd, was wound up under the Insolvency Act on June 27, Newcastle County Court confirmed last month.
Friend John Hepworth had served the company with legal papers demanding £59,589.
When it failed to pay, he took the case to the county court and MC Electrical Retail NE Ltd was wound up.