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SPL meeting adjourned again until 30th May


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Apparently the SPL are hoping to strike a deal with Bill Miller to pay back other SPL clubs. If he does that then we'll be in the SPL next season.

 

After all the talk of demoting us to Div 3 they didn't have the backbone to carry it through.

 

Shitebags.

 

Edit: hopefully the lunchtime news were correct with their information. :D

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Will HMRC agree to some creditors getting more favourable treatment?

 

Apparently not but, then again, that may suit the purposes of Miller so he has to liquidate the oldco.

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My first question is the legality of this.

 

If the purpose of administration is to make the maximum return possible for creditors in the first instance, and to preserve or "save" the company if possible; how can footballing creditors be given preferential treatment (i.e. all football debts are repaid by the newco) over other creditors such as HMRC and Ticketus.

 

The difference in amount of money available to redistribute on an equity basis to other creditors may not necessarily be significant but logically I can see why creditors may challenge this. Ergo, all creditors, regardless of the amount owed, should be treated equally.

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One option would be to get the RFFF to pay the balance to clubs provided we were able to, however I doubt fans would vote for paying the likes of Dundee Utd, Aberdeen or Celtic.

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