You could argue that the other companies should be doing their due diligence, obtaining more favourable terms, etc as well at the moment.
Personally, I'm not overly fussed about the football creditors rule, I don't think that its existence or otherwise really influences whether clubs overspend and go into administration.
What we really need is far stricter penalties for administration, relegation by one tier in addition to league placing for instance, disqualified from the cup, that kind of thing. That's what we need to get clubs sorting themselves out. 10 points is minimal over the course of a 138 point season.