----- Original Message ----- > Isnt the term 'preferential creditor'? Yes that is the term but HMRC are not a preferential creditor. This is nothing to do with football. It has been like this since the last lot of insolvency legislation. Perhaps this why you don't appear to understand what is going on between HMRC and the football authorities.
> Come on, I thought this was clear? Isnt this the reason HMRC is pissed > off > with football? Because it has to get in line with normal creditors whilst > football creditors are preferential? Yes this is the reason. You still don't seem to understand though. The Football creditors are not preferential creditors of the company that goes into administration. The football creditors have to be paid by the NEWCO or the new owners before the golden share will be reinstated. It is not the same thing. If the Revenue and the football creditors were on an equal basis then there would be no axe for them to grind. Football has artificially created a situation where the revenue loses and footballers and clubs do not. HMRC are no longer willing to accept that arrangement. This does not mean that all of the settlement would now go to HMRC and nothing to the other creditors. _______________________________________________ the Leeds List is an unmoderated mailing list and the list administrators accept no liability for the personal views and opinions of contributors. Leedslist mailing list [email protected] http://list.zetnet.co.uk/mailman/listinfo/leedslist Join The Leeds United Supporters Trust at www.lufctrust.org
