The results of yesterday's FL board meeting suggest that the FL Board
are not going to make any snap decisions without all the relevant
information. Given Mawhinney's style I'd say he has a very clear plan to
deal with this: State the rule, apply it and in doing so use the three
cases in point to test this application in an even handed way. If Bates
(or any of the others) fails to meet the test then the FL has to ensure
that they do in future. The big worry is that there is a can of worms
which will be wide open as regards the administration process if any of
the information about the resulting ownership compromises the
administration deal. (HMRC are bound to be watching this one like a hawk)
Anyone seen a fat lady singing yet?
No? Thought not.
Betty
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