Sunday, December 18, 2011
Inland Revenue risks 'own goal' with challenge to insolvency rule
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Professor Gabriel Moss QC
, which is involved in the case on behalf of the Premier League, argued that the challenge is counterproductive. "Revenues are scoring a goal against his camp because they want to create a situation in which the clubs are forced into liquidation - which disrupts the league - instead of allowing the club to be rescued by a new buyer," Moss said leagues argue that it would be a duty to protect its member clubs solvent if those who had passed beyond his means were by default in one part of the debts of his transfer. The only alternative to current policy on insolvency, such as leagues, would force the payers of their powers and again at the foot of the football pyramid, a step that could lead to the inevitable liquidation football clubs history.- "Regulators seek to ensure that there is no imbalance between the participating clubs," said Moss. "[II] of the regulation of options: either to restrict clubs participation in the contest, pushing the club into liquidation or the other is for the club to be bought by another person with money, you want a toy or a -. If there is an investment after purchase a gap can avoid buying
"A stroke can be arranged whereby football creditors are paid in full, but others have to agree on the purchase by the mechanism of stroke. [All other creditors] receive a dividend that is a much better result than in a liquidation. "
Although the judge, Richards, adopted without comment by the logic of Moss, who did not agree with the reference to the league as "regulators", preferring to describe the relationship as related to private clubs. "Not at the moment to see how you can control the function," said Richards. "What is this, that to continue in the Football League the club must meet certain conditions.
"No need to talk about regulatory functions. No one can remain a member of a club under the rules of the club, which can be simply to protect the interests of club members.'s Debts Club partners must be paid the debts may include gambling debts:. if you fail to pay his gambling debts that can not remain a member of the club if the regulation is "
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