My thoughts over the muesli and home made jam: =======================================
So what all this ultimately means is that, in any revived CVA, the taxman will only withdraw its legal challenge if two conditions are met: 1: Bates comes clean about Astor etc.. 2. All creditors are treated equally Hopefully, then HMRC withdraw their legal challenge. This will get a successful CVA. Unfortunately football creditors will not get 100%. This then means that because of the lack of a 100% payment to football creditors the FL will apply penalties as part of returning the Golden Share (see also Boston). The very fact that Leeds United have not settled the court case out of court and have gone for the artifice of a sale to leeds United 2007 suggests that they knew they couldn't win in court. I also believe HMRC have seen how much money has passed over the counter re the sale of Leeds United and how much has been spent since administration on keeping the club afloat and are wondering why Ken Bates defaulted twice on a meagre 200k tax payment. They would also question the statement that Leeds United could not be kept afloat until September and a court challenge as they know about the season ticket monies (they collect VAT off them). Technical point. Naming a DG in HMRC, David Hartnett and getting him to comment publicly on the case is a clear statement of their intent. Top Civil Servants only make that kind of statement when they are reiterating key departmental policy. It is a massive shot across the bows of any football club with financial problems: ie "don't use the taxman's brass as a piggy bank". It also suggests that their challenge to the CVA was well resourced and designed to succeeed at all costs - if they are wanting to draw a line under a situation they no longer do it with a weak case. They have made too many mistakes in the past. As I said last night: over to you Ken John _______________________________________________ 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
