Wycombe RoyalMr AngryWycombe Royal Losses across seasons is irrelevant in this case. This is regarding the automatic 12 point deduction for entering administration. Derby would need to show that if Covid hadn't happened then they wouldn't have entered admin. If they can't do that then they have no case. Yes there may be rules around "special circumstances" but even in that case they would need to show that Covid lockdowns was the driving factor in them entering admin.
This rule has been in place for many years, it is not new and is something all clubs signed up to as a way of helping to deter clubs entering admin as an easy way out to clear debts (some businesses still do this and they then buy the company out of admin in a pre-pack arrangement).
Leicester City did this in 2002; they failed to pay the builders of their stadium the last £5.5M, and even dicked the Ambulance Service out of £16K. But they were able to retain their players and got promoted back to the Premier League the following season. IIRC, it was this that led to to points deduction penalty coming into force.
We had a company do this where I work. They owed us £30k (not a huge sum), went into admin, paid creditors 1p in the £ and then the same owner who had bought the company back from the administrators in a pre-pack deal called us up to ask if we would continue to supply him. Needless to say we didn't, and neither did our 2 competitors (there aren't many players in our market).
In the olden days , deals were struck with major suppliers to look after them on the other side. Agreeing to pay higher prices was one mechanism. Business gets very shady behind the scenes. Everybody looks after themselves.