under football league rules i think football creditors have to be paid off in full

which was part of the problem with the Leeds fiasco over the summer (iirc).

their initial plan, which was in line with the football league's rules meant that HMRC were getting f**ked over on the tax they were owed and so they complained and then Bates had to come up with a new deal.

(the odd thing is (again iirc) is in normal businesses HMRC are always first in line when it comes to getting their money - i guess though that may be for businesses that go into liquidation rather than administration, but that's just a guess on my part)

Posted By: blindasabat, Oct 25, 10:33:25