FORUMS > Bradford Bulls > Can Anyone Explain Why........... |
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973_1515165968.gif Last edited by Ferocious Aardvark on stardate Jun 26, 3013 11:27 am, edited 48,562,867,458,300,023 times in total:d7dc4b20b2c2dd7b76ac6eac29d5604e_973.gif |
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| I don't think that the insolvency legislation would be relevant. the agreement to give us a SL licence only happened after the main event. By then, OKB had already bought and paid for the club, and that deal was conditional only on the new owner being admitted to membership of the RFL. Not SL.
So, if at some future time, the RFL does a deal with OKB which leaves unexpected funds in the RFL distribution pot; and if the RFL chose to pay some or all of that money to what were some or all of the creditors of BBHL, I'm thinking that would be just a gratuitous windfall payment (very welcome no doubt) to those creditors. It would surely be nothing to do with BBHL, or the administration, or the liquidator. The payments might [ireflect[/i the written off debts, and might be made [ibecause [/ithose debts existed, but they would not be [irepayments[/i of the debts.
If it happened, it might leave the RFL looking like a good egg to such creditors, and I can see potential benefits. But I don't think for a minute they'll actually see a penny of it. If that was the plan I assume someone would be understandably wanting to make some capital out of it, and someone would have heard about it.
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| Which is irrelevant if perchance the RFL had "voluntarily" chosen to settle certain creditors of the former company, for whatever reason.
If have no idea whether or not they have, although if the RFL has not been put under a shedload of pressure from Sport England, as a disher-out of public money, regarding losses incurred by the collector of public monies, after the Rangers debacle especially, I would be very surprised. And of course the RFL could well be seen by some as a soft target compared to say the FA or the RFU or the TCCB or even the LTA. But I honestly have no information in this regard.
I would be pretty surprised if the RFL does not settle the small amount of rugby debts, maybe out of the Bulls' fines, but given its the RFL who knows?
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| It's fair enough that any rugby debts are settled when membership of a rugby competition is involved, I just fail to see why the reasoning has to remain secret.
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| It's the RFL.
Innit.
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| Quote: jammle "I understand it's money to pay back "some" of the creditors. (the ones which could have scuppered any deal for the buyout).'"
if thats the case can we have 2 points back ala Wakey??
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1271.jpg Whenever you find yourself on the side of the majority, it is time to pause and reflect.
Mark Twain
Build Bridges NOT Walls:1271.jpg |
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| Quote: Bullpower2012 "if thats the case can we have 2 points back ala Wakey??'"
Well they're no use to the current season, so maybe they could add them onto next year?
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