As I remember it, the SPL as was, after it's light touch "investigation" of homfc, found that nothing was out of order, but they reserved the right to re-analyse the situation ...
http://sport.stv.tv/football/clubs/h...investigation/.
I assume that right has carried on into the SPFL.
The findings back then were obviously wrong; homfc were in the throes of an insolvency event.
I can't see what the problem is. Retrospectively apply the 18 point deduction, relegate them, and have a "Plan Dundee" rather than a "Plan Morton".
Alternatively, let's just shore up the cheats, because that's what WILL happen, rather than any day-dreaming about an 11 team league.