One of my favourite subjects - the Football Creditors' Rule! The FCR allegedly allows the FA and any other football creditor to have a "super-priority" to be paid in front of every other creditor when a football club becomes insolvent. There is no provision for this in the Insolvency Act 1986.
A date has finally been set (see here) for 28 November 2011 the High Court to consider whether or not the FCR should be allowed to stand or if the FA should be relegated (sorry!) to unsecured status as a creditor like everyone else. If you've read my previous blogs (hint) you know that I happen to agree with HMRC on this one.
November will be very interesting...
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