Quote ="RebelRebel"So here's the thing that needs clarification for me: The creditor is HMRC. Can we simply go into administration, write off the debt, and rise phoenix-like from the ashes when a new buyer comes in? Or will HMRC take a look at what we've still got left by way of assets and come after those? Can they do so? If they can, then it seems to be a clear choice - buy the shares and pay off the debt or kiss goodbye to the club. Anyone know?'"
That's what I had been thinking. The ground is an asset with a realisable value, why wouldn't that get used to pay off debt?
