This is starting to get very worrying now. I can only see 3 scenarios now
(a) The Football League allow the exceptional circumstances rule and we get the share back (b) The FL wash their hands of Bates and will allow the exceptional circumstances rule only if a new buyer comes in. How this would work I have no idea as it seems KPMG have gone down a certain road and it may be too late to go back.... (c) The FL dont give us our share, Bates pulls the plug - there is no mechanism for a new buyer to come in so Leeds are kicked out of the League. (c) is looking more likely by the day. ----- Original Message ----- From: "John Boocock" <[EMAIL PROTECTED]> To: "LEEDS LIST" <[email protected]> Sent: Thursday, July 19, 2007 7:58 AM Subject: Re: [LU] Am I Evil Personified? > > > thecasses wrote: > ============= >> Taxman and FL may be well pissed-off with the way he has done it, but >> there >> is ABSOLUTELY NO REASON AT ALL for the FL to be STILL WITHHOLDING the >> golden >> share > > I'm afraid there is. The FL can only hand over the Golden Share to a > company in administration which has reached a CVA with its creditors. > Bates' new company has not done this. At the moment the company which > owns the club which is playing in the league is not one owned by Bates > but one owned by the administrators KPMG. Bates and his fellow > directors are not even directors of a football club. A complicated > scenario but the Football league has its rules and it is attemting to > apply them in the face of all Bates' messing about. > > If Bates had sold the club to another owner prior to administration this > would not be the case. He chose to go down the route of administration > and he is now reaping the er, benefits. It si now very clear that he > thought he could cheat the tax man and all his other creditors in order > to have a debt free club. Try it yourself, default on your mortgage and > see if those nasty Building Societies don't come running after you. If > you end up with your house intact with no mortgage I'd be very surprised > and I'm sure you would too. What Bates did was effectively take two > mortgages out on the same house and only one building society is getting > paid out................. > > Betty > > _______________________________________________ > 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 > _______________________________________________ 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
