This is how I understood it too. Unfortunately I think this will mean that clubs will settle any HMRC debt prior to going into admin, thus avoiding the extra 15 point penalty, which means less in the pot for the other ordinary creditors.
I hope Luton do owe HMRC because it will clear up the position of HMRC wrt to CVAs, but also because it will mean another 15 points off Luton! Bitter, moi? > -----Original Message----- > From: [EMAIL PROTECTED] [mailto:leedslist- > [EMAIL PROTECTED] On Behalf Of rhys hodge > Sent: 23 November 2007 21:22 > To: [email protected] > Subject: Re: [LU] Luton and HMRC (was The Blackwell of Calculta) > > My Understanding is that they have made it known that they will appeal > to the Courts any CVA where they don't have the 25% to block. depending > on what Luto owe it will either be a blocked CVA or an appeal to the > Courts, what Luton then do and the Football Leagues response that will > be interesting. > > > ----- Original Message ---- > From: "[EMAIL PROTECTED]" <[EMAIL PROTECTED]> > To: [EMAIL PROTECTED] > Cc: leedslist <[email protected]> > Sent: Saturday, 24 November, 2007 7:59:15 AM > Subject: [LU] Luton and HMRC (was The Blackwell of Calculta) > > As best I know it - > HMRC policy is to vote against a CVA:- IF football creditors will > effectively be given preferential treatment. HMRC can't block the CVA > unless > they are owed more than 25% of the debt. If owed less than 25% they > would > still vote against it but would not be able to block it, voting alone. > The > decision to vote against it turns on whether or not football creditors > are > given preferential treatment. > > Of course if they are annoyed with any of the arrangements for any > other > reasons then they might opt to challenge via the courts but that is a > separate decision. > > > ----- Original Message ----- > > Because they are yet to attempt to come out of admin via a CVA. If > they > > do come out via a CVA then they wont be deducted the extra 15 points. > > > > What will be interesting is if they owe HMRC any dosh, because if > they do > > will HMRC challenge the CVA as they have (allegedly) said they would? > > _______________________________________________ > 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 > DELETE THE FOOTERS WHEN REPLYING YOU LAZY SODS!!!! > DELETE THE FOOTERS WHEN REPLYING YOU LAZY SODS!!!! > _______________________________________________ > 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 > DELETE THE FOOTERS WHEN REPLYING YOU LAZY SODS!!!! > DELETE THE FOOTERS WHEN REPLYING YOU LAZY SODS!!!! _______________________________________________ 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 DELETE THE FOOTERS WHEN REPLYING YOU LAZY SODS!!!! DELETE THE FOOTERS WHEN REPLYING YOU LAZY SODS!!!!
