How will the football league satisfy itself that the CVA obligations are being met? (and thus not dock any points for exiting admin without a viable CVA)
Do they simply go on PFC/AA's words that creditors are being paid back at the agreed rate or will they be much more forensic about it than that?
Or perhaps they (the football league) don't even have that juristriction. Is the 'pass' criteria for football league purposes simply having an agreed CVA rather than having a CVA that is actually being adhered to?
That's the bit I'm not understanding either.
The case that was brought to the court by HMRC always had a fairly narrow remit in the general scheme of things. (i.e. Challenging the nitty gritty of the CVA) whereas the 'bigger picture' misdemeanour is surely the perceived wisdom that they were trading whilst insolvent? In other words, they were breaking the law of the land - pure and simple?
Which begs the question....who's responsibility is it to report this overriding 'crime'? The government? The office of fair trading? Company's House?
Or is it, if we (the general public) perceive it to be the case that we have perceived a corporate crime are we duty bound to pop down to the local nick to report said crime?
How does it work? How does a company that is perceived to be trading whilst insolvent get called to account?
Perhaps this trial has been a smokescreen for the 'real' misdemeanour ?
I went out to lunch today with a client who said that several of his Pompey supporting colleagues were not in support of Pompey winning this case as they saw the bigger picture. Every cloud...
Anyone up for a civil action on behalf of the British taxpayer?
I assume HMRC will be happy with me withholding a percentage of my income tax this year to cover my losses?
Tune to TalkSport.....presenters aghast at decision "as taxpayers".....Pompey fans trying to defend the undefendable....good entertainment
http://www.talksport.co.uk