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Day: May 26, 2012

The Football Creditors Rule & The Changing Face Of The Insolvency Game

There are, of course, two sides to every coin. The news that HMRC had failed in its bid to get the football creditors rule, which ensures that all football creditors are paid in full in the event of an insolvency event at a football club while the the taxman has to join all other unsecured creditors in the line for coppers from a CVA wasn’t particularly surprising. As the presiding judge made clear in his summary, there is no statute which takes into account the football creditors rule, because the this rule is, in terms of the way in which it applies within the framework and protocols of inolvency law, so unique. It is difficult to think of another trade body – which is ultimately all that the Football Association, the Football League and all those other organisations that we refer to as “governing bodies” are, if you really stop and think about it – which demands that its members treat other such members differently in the event of insolvency events on the part of its other members. It is easy to get sucked into emotive debates about millionaire footballers being protected while St Johns Ambulance aren’t, or why football clubs should receive preferential treatment to the HMRC in such situations. As ever in the event of emotive arguments, though, the cases for and against the retention of the...

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Time For Darlington To Prepare For Life In The Northern League

The first round of this years AGM Cup was completed with the FAs initial announcement of which clubs will be playing in which division next season, then, and the two most significant losers are two clubs are that have been appearing on the pages of this website more than most over the last year or so: Darlington and Kettering Town. The initial proposals confirm that Kettering Town will be dropping two divisions into the Southern League Premier Division, but most of yesterdays headlines were made by Darlington, who will be dropping a vertiginous four divisions to play in Division One of the Northern League from the start of next season. The reason for the severity of Darlingtons plummet is one that we have discussed on these pages before. The club entered into administration again at the end of last year but has been unable to agree a CVA with its creditors – the largest of which by some considerable distance is former chairman Raj Singh – meaning that the club has been left with no option but to exit administration without a CVA in place, a decision which leaves it in clear contravention of the FA’s regulations on dealing with insolvency events. As such, whilst the club itself had been hoping for a two division drop into the Premier Division of the Northern Premier League, it had been forced...

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Euro Moments: The Czech Republic

This mornings cartoon for the run-up to the European Championships from Dotmund features the Czech Republic and Karel Poborsky’s dog. Don’t forget, you can see plenty more Dotmund artwork here, and you can read his trenchant opinions on just about everything here. You can download the Twohundredpercent Euro 2012 spreadsheet here (for Excel 2007), whilst a version that will be compatible with older versions of Excel is available here. You can follow Twohundredpercent on Twitter by clicking...

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Euro 2012: The Runners & Riders – Portugal

It would be a stretch to call Portugal under-achievers, but it doesn’t seem unreasonable to suggest that they could be considered the nearly men of European international football. This is a country which has periodically come close in recent years to winning a major trophy without actually lifting one, but the development of football in Portugal to even this point has come after decades of being considered a relative backwater in international terms, even though its biggest clubs have been winning trophies at the highest level since the nascent years of pan-continental club football. This summer, however, a fiendish draw and the ongoing suspicion that the team has the unfortunate ability to not live up to the sum of its parts may mean that its involvement in the European Championships could be curtailed early. The History: For many years, there was an international team whose moment in the sun came in the summer of 1966 and wasn’t England. Portugal’s first appearance in the World Cup finals ended with them losing narrowly to the host nation and eventual winners. Coming off the back of the success had been enjoying in the European Cup in the years prior to 1966 this was, perhaps, no great surprise, but Portugal’s success proved to be a flash in the pan and it wasn’t until 1984 that the team managed a repeat of this performance...

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