So the owner of Ok Bulls got paid? or does he still own the new bulls?

Fairly unlikely from reading the information released, but as the owner of Ok Bulls, Omar Khan, appointed the directors to run the club as they saw fit. It appears the best way they could see to keep the club going was to transfer the assets to another company. If Omar Khan is unhappy with this, legal action will undoubtedly follow.

Sounds like there is a massive conflict of interest if the board members are the same on both companies so yes i expect this to be the case

The RFL 'operational rules' on finance have rules in place to ensure teams comply with their HMRC Obligations. rflmedia.therfl.co.uk/docs/Secti ... inance.pdf Maybe the new Bulls board should be more worried about the 'Misconduct' charge from the RFL for failing to keep to these rules? That in itself will be a sanction prior to any points deduction for administration. Also, weren't the Bulls on a provisional licence or was that threat removed?

The RFL 'operational rules' on finance have rules in place to ensure teams comply with their HMRC Obligations. rflmedia.therfl.co.uk/docs/Secti ... inance.pdf Maybe the new Bulls board should be more worried about the 'Misconduct' charge from the RFL for failing to keep to these rules? That in itself will be a sanction prior to any points deduction for administration. Also, weren't the Bulls on a provisional licence or was that threat removed?

The new bulls don't owe anything right now do they? They were an asset transferred to another company, why assume they transferred all the liabilities too?

If not and all the liabilities were transferred and will be paid off, what exactly are we asking the bulls to be punished for? The admin was simply a measure to facilitate the share transfer on that case

Correct

Thanks childofthenorthern. The HMRC isn't someone to mess around with and as you say, it's not easy to pay someone else's bill.

If you can avoid a points deduction and start the season in zero ( as a retracted PA release has already stated) the only loser will be Omar Khan - how much has his 18 month attempt at running a Superleague club cost him?

On the bulls section of the message board, figures of 600k plus that he put in as loans are being mentioned. It's also worth pointing out that Bradford Council loaned Ok Bulls 200k and that's reported as being personally guaranteed by Omar Khan. Unless the Bulls are including the council as creditors then that would appear to fall on him as well.

Next "investors" peeerleeeeease step forward.....

This is the case in most administration situations.
Of course the new owners start with a clean slate, unless something else has been agreed with the administrators.
But, if this were ok, many clubs would go into admin and start a fresh.
Yes, this seemed to be a way of removing OK's shares and allowing a new start but, surely it's no different from ANY club going into admin, something which the RFL said that they wouldn't allow to happen.

It sounds like you are condoning the situation which, does come as something of a surprise

I can see a real Sh*tstorm brewing if the Bulls escape a points deduction and then avoid relegation by the skin of their teeth.

Lets not forget they are "iconic"

Yep, give poor old Omar a six point deduction, he’ll be gutted .

You are basically saying the newco should be absolved of any debt accrued by the old regime. But I’m sure that the RFL told Wakey last year that a flat pack was simply out of the question.

i think the points deduction punishment is used more as a warning to other clubs, than as a punishment to the club in question. It is far too easy for a club to go into administration, transfer all the playing contracts and start up again the next day, leaving a trail of debtors in their wake.