All true. But the Football debt wouldn't prevent the Club from trading (in Admin) and there would not he the demand from the EFL to see £1m cash.
Also, the current CVA doesn't include all (non-Football) creditors
LC (in Bury) are one of the 3 (three!) Insolvency Agents dealing with the Administration of Bury FC's largest Creditor. As long as LC deal with Bury FC that aspect of the debt will quickly disappear (99%)