Using the county's own more forgiving accounting rules, he added, the county's deficit was $49 million, but still nearly twice the statutory trigger point for a takeover.
Sections 836 and 837 enshrine the importance of "capital maintenance", outlawing the distribution of profits out of the capital of a bank, for which the last audited accounts are the statutory reference point.
"Rather than the statutory 15-point penalty, the club will now receive a 10-point deduction going into the new season while the awarding of the membership of the Football League provides certainty for the future.
They ruled that CCFC Ltd were the owners, docking the Sky Blues the statutory 10-point penalty for entering administration.
The club are understood to have been in talks with the Football League, arguing their case for not being docked the statutory 10 points.
The club are now understood to be in talks with the Football League, arguing their case for not being docked the statutory 10 points for going into administration.
But the court hearing decided that it is this subsidiary which owns the Golden Share, guaranteeing membership of the Football League, and that effectively means that they now cannot avoid being docked the statutory 10 points.
Having seen their bid for the League One play-offs finally ended in late March by the Football League's statutory 10-point deduction for any club going into administration, Coventry finished the season badly, failing to win any of their final five matches.
However, at this point statutory authorities cannot recognise these as actual cost savings in their resourcing and planning – the social services budget does not decrease because Addaction has provided an effective service.
To estimate costs from the statutory health insurance point of view, direct healthcare resource use of the interventions and other reported healthcare utilization (consultations, hospital days, etc).
