Ok, let's go though the facts. The CVA was deemed unacceptable to the tax man mainly because their were 2 creditors using the size of their credit to sway the CVA decision by waiving their debt if bates was approved over other offers. The creditors involved were 2 off shore companies, with hidden identities, directors, owners etc. I wonder how the debts to these companies arose? and how with another offshore company they had half the leeds debt? So the los of the CVA route was down to bates's machinations.
So what could the FL do?
Refuse the golden share? That would have been the biggest punishment to the fans.
Relegate them to Lge 2? Again, big impact on fans.
So, allow them back?
but there has to be a meaningful penalty. Has to be more than the admin penalty so 15 pts.