HMRC brings in Portsmouth FC's administrators to challenge football creditor rule
Tue 19th Oct 2010 | Legal
HMRC has called on administrators from UHY Hacker Young to give their opinion on the controversial preferential creditor rule in court next year.
According to Accountancy Age, HMRC has "invited" the administrators of Portsmouth City FC to give their opinion on what "stance" they take on the football creditors rule.
The taxman faces a legal wrangle to overturn the football creditors rule which currently favours some creditors such as players, managers and others clubs should a club fall into administration
Any remaining money is then divided between the unsecured creditors, including HMRC.
However, it is unlikely UHY Hacker Young will appear in court according to sources.
The case which was brought about to challenge the rule, aims to ensure that tax revenues are paid by clubs in full in the event of administration after it was labeled ‘unlawful’ and believed to be outside the laws of insolvency.
The case will be heard next year.
Google
Yahoo
Live
del.icio
DiggRelated Articles
ECJ rules Football Fixture Lists Cannot Be Protected by Copyright
Thu 1st Mar 2012 | Legal
A football fixture list cannot be protected by copyright when its compilation is dictated by rules or constraints which leave no room for creative freedom The Database Directive1 grants copyright...
Premier League ads warn pubs over using foreign set-top boxes
Thu 16th Feb 2012 | Legal
The Premier League is to launch an ad campaign warning pubs and clubs that it intends to crack down on unauthorised broadcasts of football matches using foreign satellite feeds. The campaign is being...
Premier League and satellite firms in new court ruling
Fri 3rd Feb 2012 | Legal
Football bosses have said they would tackle publicans using foreign satellite systems to broadcast Premier League action without permission. Premier League officials claimed victory in the latest...
John Terry charged over racist remark
Wed 21st Dec 2011 | Legal
John Terry, the England and Chelsea captain is to be charged over an alleged racist remark made to Anton Ferdinand. Terry will now appear before West London Magistrates Court on the 1st Feb 2012....
