Depends how desperate Mr Osborne is of getting RBS off the government books, would RBS risk a complete bankruptcy and get nothing? And I think the Premier League might actually be key in this. It depends how much RBS want this debt, how true the demand was back in April when re-financing and interestingly enough in that Telegraph article it looks like that happened back in July.
What intrigues me about everything is that Liverpool still seem to be spending money, I know were getting it back in but Hodgson is selling when he wants to buy which hardly looks like a ship that's doomed.