Sorry if I'm not keeping up, but are they talking about liquidating the holding company here or the 'football club' itself?
If the latter then they effectively become a new club and new clubs don't just automatically walk into the 2nd tier of English football, do they?
Either they are starting afresh or they're not, surely?
And even if it's the former (I.e. Holding company) didn't we learn the hard way last year that the football league don't recognise this dual identity??
Confused...