Tier 2 general inquiry

hey guyz
My employer is ready to issue me work visa but he needs to register his company first so hopefully maximum till the end of next month i will get my work visa btw its well established company but the thing is my tier 4 visa is expiring at 29th of sept i was thinking of extending it by getting admission in MBA which wouldn't be a problem although it would be costly but i can manage that because that is only the choice i have until recently a lawyer friend of my uncle told me that why are u wasting your 9000£ for an extension when you can get your work visa until next month.
so he said he can apply on my behalf FLR on the grounds that my employer have submitted application for registration of his company as tier 2 sponsor and will issue me a COS and eventually tier 2 visa. I am quite sceptical about this FLR so if i do that can i apply for tier 2 visa in the mean time when employer get registered hopefully early next month ? what would be the complication ? and what if my employer registration application refused i go home with loosing everything.
My uncle had a chat with couple of more his lawyer friends they were saying the same i am confused.