The Adminastrator, Gerald Krasner, is bringing the appeal. He's saying the downturn in the global economy caused a drop in income if the owners business was outside their control (force majeure).
The league in defence say they took over during the pandemic and demonstrated they had the funds at the time. In effect they knew of the pandemic before taking over the club.
Krasner is a familiar name. Did he do one of our insolvencies?