Quote Adeybull="Adeybull"Indeed. Although that is a little hard to square with their central argument that Newco had allegedly not given clear commitment regarding settlement of the creditors of Oldco? What would agreeing or not agreeing to settle the creditors of Oldco have to do with the future viability of Newco? Other than the viability of Newco being hampered the MORE creditors they chose to settle? Is it just me that sees the inherent contradiction there?'"
Isn't the relevance of that related to the points deduction, rather than the general viability of the business plan? Pay off all the creditors = no points deduction?
Quote Adeybull="Adeybull"And if the RFL had such reservations so severe that they would put newco straight into special measures regardless, they surely cannot have suddenly appeared overnight?
There has to be some key piece here we are either missing or are not aware of?'"
Is suppose the answer to that is there was a process to determine the sanctions, from what I can tell the "special measures" and points deductions came at the same time and probably both followed the culmination of the same assessment. I doubt this is all overnight, the RFL clearly haven't been provided with sufficient comfort and have taken action they feel is appropriate.
I don't know anything about this chap apparently waiting in the wings - is he credible? Few quid to spare?