Ah, scratch that. The BBC are reporting the points deduction is a very possible outcome if the owners continue to block the sale until the 15th deadline when RBS come in. It is indeed due to the intricacy of the link between the club and its holding company, Kop Holdings. KH would go into administration due to the blocked sale, and apparently it's difficult to argue the link isn't sufficient.
That said, Scudamore and co have final say on whether the deduction occurs. This could get VERY interesting - would they REALLY let this happen to the second biggest club in the country.