[retired_ehoff15]

which level would we be starting from if we go belly up?

[retired_0PETE1]

Originally posted by andyinuk:
which level would we be starting from if we go belly up?

Division below Nestle FC iirc.

:p

[retired_vansar]

Originally posted by birdy123:
<BLOCKQUOTE>Originally posted by andyinuk:
which level would we be starting from if we go belly up?

Division below Nestle FC iirc.

:p </BLOCKQUOTE>Ferrari FC. That division....somehow Vauxhall Motors are better.

[retired_bball3378]

Firstly, Ken will almost certainly do a deal with the IR, it'll just be for more than the 8p he wants to offer at the moment. If Leeds go into liquidation the taxman gets nothing, so they wont force that.

There's at least one of the orignal offers still on the table according to the Guardian, so it might be that the IR essentially force the administrators to re-open the bidding process.

OK, it means you're still screwed for this pre-season, and I really don't understand the Football League's position in all this (see today's guardian article) but you're an awful long way off from closure or anything like that.

[retired_mnw_cna]

If Leeds go into administration, the Revenue gets their fair share of whatever KPMG get for flogging off the club's assets. It's unlikey to be nothing: there are all the player registrations, for one thing.

I agree that it seems like Bates is trying to make the Revenue look like the Big Bad Wolf, as opposed to him.

I think he's over-reached himself this time, in making such a derisory offer to the creditors. If he'd come up with a half decent offer in the first place (say 20p/£, and that's still only half decent) he'd have got away with it. And still have avoided 80% of the club's debt. Plus there's the whole murkiness of the foreign company debtors that noone can apparently see behind.

I think the League are saying they may not accept the transfer of the share in League 1 to New Leeds Ltd as they agree with the Revenue that the deal on offer is not fair. In which case, Leeds couldn't play any fixtures.

So KPMG would have to re-open the offers for the club in order to try to get a better deal. Which, in turn, would require the Revenue to consent as they'd have to withdraw their court case against KPMG and the club. So essentially an alternative deal would have to be cobbled together first.

[retired_bball3378]

Hmmm, what's the situation with player registrations if the club goes into full-on administration (stroke liquidation) would the players be eligible for redundancy and essentially become free agents?

They don't own the ground or training ground either do they...

[Ventil]

And would Leeds be bound to honour the player's contracts and thus making them creditors as well?

[retired_vansar]

L:eeds
E:ra
E:nding
D:ead
S:oon

[retired_0PETE1]

We shall not be moved.
We shall not be defeated.

Etc, etc, etc.

We won't liquidise.

Trust.

Keep teh faith.

[/Francis Cole]

:p

[retired_workoutmom26]

If all goes tits up Farsley Celtic will be playing Conference footy this coming season. I'm sure they wouldn't turn away any fans