Scottish Championship Side Livingston Could Go Bankrupt If Former Club Dir Freezes Assets

Scottish Championship side Livingston could “go bust for the third time” since ‘04 if former director Ged Nixon succeeds in freezing its assets while "pursuing them through the courts” for £311,892 ($385,773) he claims "he’s owed," according to Ewing Grahame of the Scotland DAILY RECORD. But if the Lions “go out of business and start again as a newco they won’t be forced to begin” in the Lowland League. The Scottish Professional Football League board has formed a “working party to examine this issue and to suggest changes” to the current rules but the Highland and Lowland Leagues are not part of that consultation. As things stand, a share transfer to a newco would be considered but a precedent set by the punishment of Livingston five years ago would also be considered. Point deductions and registration embargoes would also be imposed. Livingston was handed a five-point deduction and a £10,000 ($12,369) fine from the SPFL last month over “tax breaches on undeclared bonuses” (DAILY RECORD, 12/9).