from what I vaguely recall

wasn't it do with ringfencing. Initially certain assets could be ringfenced for HMRC then that changed? The football debts thing is, as JCC says, more to do with governance.

Posted By: camcan on February 10th 2010 at 12:27:14

Message Thread

Didn't realise this (Other Football) - yarmyyarmy, Feb 10, 12:04:42
- Since when did other clubs, etc. come before HMRC in the pecking order? (Other Football) - BerlinCanary, Feb 10, 12:06:28
  - I think it's the Football Rules (whatever they are) (Other Football) - KentonCanary, Feb 10, 12:10:21
    - I think it has to be - this surely falls under company law? (Other Football) - BerlinCanary, Feb 10, 12:14:22
      - the law was changed in 2003 (n/m) (Other Football) - Ralf Scrampton, Feb 10, 12:16:27
        
        Really? Why? (Other Football) - BerlinCanary, Feb 10, 12:18:24
        
        Really? - yes (Other Football) - Ralf Scrampton, Feb 10, 12:23:14
        
        linkage and quote: (Other Football) - Ralf Scrampton, Feb 10, 12:27:40
        
        Wow! Good find (Other Football) - BerlinCanary, Feb 10, 12:32:42
        
        from what I vaguely recall (Other Football) - camcan, Feb 10, 12:27:14
        
        the Football debts thing is, absolutely (Other Football) - Ralf Scrampton, Feb 10, 12:33:15
        
        The Insolvency Act was amended in 2002 is that what you mean? (Other Football) - BerlinCanary, Feb 10, 12:26:14
  - Change in football rules i think to put football creditors first. (n/m) (Other Football) - megson, Feb 10, 12:09:44
    - But the FA can't change company law!?!? (Other Football) - BerlinCanary, Feb 10, 12:11:58
      - Just a guess (Other Football) - camcan, Feb 10, 12:16:11
        
        Clubs have been using HMRC as free overdraft facility (Other Football) - KentonCanary, Feb 10, 12:22:22
        
        I'd agree with that. Far too easy to screw the tax man now. (n/m) (Other Football) - megson, Feb 10, 12:26:16
        
        Totally agree (Other Football) - mike_the_sphinx, Feb 10, 13:03:41
        
        yes (Other Football) - camcan, Feb 10, 12:24:45
        
        Yes, very much so (Other Football) - BerlinCanary, Feb 10, 12:28:34
  - Don't know. I always thought it was HMRC, then the banks,... (Other Football) - yarmyyarmy, Feb 10, 12:08:59
    - It's been mentioned a few times here (Other Football) - BerlinCanary, Feb 10, 12:09:36
      - Football creditors must be paid in full or the licence to operate a club in revoked. (Other Football) - Johnny Comecardiff, Feb 10, 12:16:03
- lol sol campbell's image can generate over a million?? blimey! (n/m) (Other Football) - Tony Martin, Feb 10, 12:06:18

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