Quote ="Derwent"If the nature of the RFL's claim is as I understand it to be then you would not expect to see it within the company accounts. From the company's point of view it would be classed as Contingent Liability and therefore not included within the accounts, except perhaps as a note to the accounts.
I suspect that there has been a game of "tit for tat" here. The RFL's claim was against OK and his personal guarantee to repay all SL monies in the event of another insolvency event. I suspect that OK has tried to include this guarantee within his creditor claim and so the RFL have contra'd it as the ultimate creditor of that amount, e.g. it may be due to OK in the first instance but is ultimately due to the RFL via a signed legal agreement, a kind of first charge if you will.'"
Would not be in the least bit surprised.
Although if the RFL HAD secured a PG from OK, that should not be anything to do with the company at all? Unless the deal between the RFL and OKB for the central funding included a clause allowing the RFL to seek to recover some or all central funding in the event of insolvency? In which case, it would indeed be a sort of contingent liability, a bit like the BBH contingent liability to repay the council the Odsal settlement, pro rata, should the club stop playing its home games at Odsal.
And, maybe, the RFL did not bother to lodge a formal claim initially because of the "yeah, whatever" explanation FA rightly gave earlier regarding further claims when there is no prospect of dividend?
And they lodged a claim only when OK lodged HIS claim, which (uncontested and if admitted) would have given him majority voting rights at a creditors' meeting?
IF we knew that such a clause WAS in place regarding the RFL and the central funding (another one of these agreements not in the public domain?) then that would certainly explain the RFL's action?
Like so many aspects of this disaster, so much of the damage is being done due to speculation - wild or otherwise because key facts necessary to form a reasoned judgment are not in the public domain. And may never become so.
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