According to the Coventry Telegraph's Les Reid, the liquidation of Coventry City Football Club Litd could be a lengthy process.
Mr Reid has tweeted that liquidation could take months and that Coventry City are now fearing that it will prolong the transfer embargo.
All parties are now waiting for clarity on the matter from the Football League, who will surely have to issue strikes against CCFC Ltd directors Tim Fisher and Mark Labovitch who are also directors of CCFC Holdings Ltd and investigate whether Joy Seppala's role in all this means that she is actually a shadow director which is contrary to league regulations.