Your Choice, Take 15 Point Deduction or ACL Sign CVA? (1 Viewer)

[dadgad]

You are both missing the point.

Unless the CVA is sanctioned they cannot come out of administration. The Football League (for what they are worth) state that they will sanction the move to Northampton, but cannot do so till the club is out of administration. Hence forcing the games to revert back to the Ricoh.

That's my understanding too.
Also, it will inevitably draw attention to the whole Admin process that left much to be desired...

 

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[ccfc4ever]

You are both missing the point.

Unless the CVA is sanctioned they cannot come out of administration. The Football League (for what they are worth) state that they will sanction the move to Northampton, but cannot do so till the club is out of administration. Hence forcing the games to revert back to the Ricoh.

We will see who is proved right. The league agreed it so we can fulfil our fixtures so if no deal is struck with acl we will play at Northampton.

 

[RegTheDonk]

You are both missing the point.

Unless the CVA is sanctioned they cannot come out of administration. The Football League (for what they are worth) state that they will sanction the move to Northampton, but cannot do so till the club is out of administration. Hence forcing the games to revert back to the Ricoh.

OK, so that ties in with the FL statement (if you can believe they aren't shitting themselves at being SISued) and ACL said they could play free while in admin, so it would be play at the Ricoh but with -15 points?

Like some others have said, no real chance of promotion - but would the 15 point deduction guarantee RELEGATION?

I would welcome this, if it meant SISU sell up. But is there any prospect of that?

 

[jesus-wept]

Does rejecting the cva definitely mean liquidation as suggested, I seem to remember this going for ages at Pompey, the weren't liquidated were they, maybe different circumstances. and does rejection meam Holdings automatically get the club and the Golden Share as Grendel suggests, not sure about that either

 

[Spionkop]

Reject the CVA. Do the right thing. Expose this scum.

 

[jesus-wept]

We will see who is proved right. The league agreed it so we can fulfil our fixtures so if no deal is struck with acl we will play at Northampton.

Says who. we have already played at the Ricoh while in administration in a deal brokered by the administrator, this time it will cost nothing, what will have changed since then

 

[Grendel]

Does rejecting the cva definitely mean liquidation as suggested, I seem to remember this going or ages at Pompey, the weren't liquidated were they, maybe different circumstances. and does rejection meam Holdings automatically get the club and the Golden Share as Grendel suggests, not sure about that either

I am sure I have read somewhere that the football league have agreed to transfer the share so liquidation is if a dormant company.

However, one thing is unclear. If ACL reject there is than an enforced 28 day cooling off period to reconsider. The club have league fixtures at home in that period. I cannot see those games being able to be played at Northampton with the club still in administration and unable to liquidate.

 

[ohitsaidwalker king power]

Pax- Since SISU tenure can you tell me one aspect of the football club that has improved ..?

 

[GaryPendrysEyes]

So that's:
Reject CVA 28
Accept CVA 2 to 4

 

[jesus-wept]

I think you are right. That will really put the cat amongst the pigeons

 

[covkid53]

OK, so that ties in with the FL statement (if you can believe they aren't shitting themselves at being SISued) and ACL said they could play free while in admin, so it would be play at the Ricoh but with -15 points?

Like some others have said, no real chance of promotion - but would the 15 point deduction guarantee RELEGATION?

I would welcome this, if it meant SISU sell up. But is there any prospect of that?

None of you have mentioned the main reason for not signing the CVA means the investigation into the dirty dealings will continue,

sign it and it means CCFC ltd; out of admin, no investigation, FL give Otium the golden share so no Ricoh, and no new owners.

The cycle would be complete, we lose our football club..... SISU/ Otium gain a portable franchise...... we are sold down the river.

 

[shmmeee]

Reject the CVA, if for no other reason than Sisu are so desperate for ACL to sign it. Something's got to be worth investigating in this mess, let's keep the pressure on, -15 points will be the least of our worries this season.

 

[ArchieLittle]

Having read up on what happened with Leeds a few years ago IMHO it will make little difference. If its accepted then that's that the FL hand share to Otium, if not then The FL will say exceptional circumstances and hand the share over anyway.

And look who owns Leeds now, http://www.leedsunited.com/page/Ownership
Leeds United Football Club Limited ('LUFC') the company that holds the share in the Football League, is a member of the West Riding County Football Association and a Full Member of the Football Association.
LUFC is a wholly owned subsidiary of Leeds City Holdings Limited ('LCH').
LCH is wholly owned by LUFC Holding Limited ('LUH') a company based in Grand Cayman.
LUH is 86.67% owned by GFH Capital ('GFHC') a company based in Dubai with 10% of the balance held by the International Investment Bank from Bahrain.
GFHC is a wholly owned subsidiary of Gulf Finance House, BSC which is based in Bahrain.
No shareholder in Gulf Finance House, BSC holds over 10% of its shares.

Ring any bells?

 

[colin101]

Reject the CVA, even if the club end up in Northampton there will be many people pushing for an investigation into SISU, do not let them get away with raping and pillaging our club

 

[Sky Blue Harry H]

so some are advocating not to sign, ACL condemn the sky blues to -15 points and risk of further relegation? As both are culpable why so much hate for SISU who are the football club not ACL?

If people thought SISU had been telling the truth and....

if SISU treated the fans with some respect and....

if people believed SISU wanted the best for the football club and....

if SISU weren't taking us out of the City for 5 years (or permanently)

then maybe the ACL high rent factor would be a bigger issue. But until we sort out the SISU issues, reject the CVA and we'll deal with ACL afterwards. Otherwise it's like worrying about having pointy ears when you've got cancer:blue:

 

[cloughie]

There's something not right. Unfortunately we need to get to the bottom of this club's finances. Yep, it will hurt the team on the pitch, bit so too is the act of moving the club away from the fans.

It's got past the damage that can be done now I feel.

I want us to be seen to be doing the right thing and it is an issue of morals and codes and scruples.

To be quite honest I think there is a many a shady going's on throughout football in general. Time to put the house in order.

Well said Otis these scum need to be outed and the law deal with them

These type of people are the ruin of football along with sky

 

[dadgad]

If people thought SISU had been telling the truth and....

if SISU treated the fans with some respect and....

if people believed SISU wanted the best for the football club and....

if SISU weren't taking us out of the City for 5 years (or permanently)

then maybe the ACL high rent factor would be a bigger issue. But until we sort out the SISU issues, reject the CVA and we'll deal with ACL afterwards. Otherwise it's like worrying about having pointy ears when you've got cancer:blue:

Correct.

Reject CVA and get to the truth.
It's the only way forward.

 

[jesus-wept]

But there must be twitchy arses at sisu. For Joy Seppalla to say the other day sign the cva and we may talk suggests to me they ain't sitting comfortably

 

[duffer]

Reject the CVA. We need a proper investigation into what's gone on at the club, and also to Appleton's performance as Administrator, imho.

The longer this drags out, the more pressure can be brought to bear on SISU and the FL.

Don't quit now.

 

[Paxman II]

Well said Otis these scum need to be outed and the law deal with them

These type of people are the ruin of football along with sky

The law deal with what? Are you telling us you know they broke the law? Where?

 

[CCFC_GT]

I want to see rejection of the CVA leading to an investigation into the accounts and dealings of CCFC Ltd & CCFC Holdings under SISU, even if it means a 15 point deduction next season for the Northampton franchise.

 

[Sub]

15 point reduction only way to go I don't want it but hopefully the following investigation will find the truth of what has been going on and will lead to new owners and a better future for the club !

 

[cloughie]

Not only their shareholders, but they also have a duty to the other stakeholders - like Compass, the casino and all the emplyees who very much depend on the customers the club brings around.
Refusing the CVA will make certain that the club goes to sixfields while signing the CVA will open the door for negotiation.
Refusing the CVA will allow for investigations of directors actions, but it will mainly be those preceding Fisher - i.e. fans hero Gary Hoffman!

I fail to see how any investigation will lead to sisu going away or the club being sold to another party.

Oh yes sir you certainly are the man of distraction. I do believe the investigation we want to see is between 2011 accounts with a 10 million turn over 108 employees to a non trading company within a matter of 12 months. I don't recall but Hoffman then present in 2012. I think not

And yet you portray that sisu have a duty to compass the casino , you are transparent with your posts , sisu could not give a s**t about the fans and they have never in their history given a s**t about another company.

 

[Senior Vick from Alicante]

Reject the CVA. Sisu have things to hide, a proper forensic investigation into their accounting is needed. They can't keep hiding behind ghost companies to cover their tracks, Seppalla is sweating over this, her and Timmys silence is deafening, its our chance to finally get rid of the smoke and mirrors.

 

[stupot07]

Oh yes sir you certainly are the man of distraction. I do believe the investigation we want to see is between 2011 accounts with a 10 million turn over 108 employees to a non trading company within a matter of 12 months. I don't recall but Hoffman then present in 2012. I think not

And yet you portray that sisu have a duty to compass the casino , you are transparent with your posts , sisu could not give a s**t about the fans and they have never in their history given a s**t about another company.

I want to see it all the way back to 1995. That's where all this mess stems from.

 

[cloughie]

The law deal with what? Are you telling us you know they broke the law? Where?

I do believe the investigation we want to see is between 2011 accounts with a 10 million turn over 108 employees to a non trading company within a matter of 12 months may very well be illegal

 

[dadgad]

I do believe the investigation we want to see is between 2011 accounts with a 10 million turn over 108 employees to a non trading company within a matter of 12 months may very well be illegal

Yes, I'd like the truth on that.

Could be some serious implications behind that.

Anybody who urges acl to accept the CVA is probably anxious to avoid further scrutiny.

Being an honest bloke THIS is exactly why we should keep looking.

 

[Godiva]

I do believe the investigation we want to see is between 2011 accounts with a 10 million turn over 108 employees to a non trading company within a matter of 12 months may very well be illegal

Yes, I agree - but the administrator has already done that as he has an obligation to investigate the validity of the assets in Limited. He has stated he has received all the information from all involved parties that he has requested - that include information from BDO, the auditors.

I really don't see how rejecting the CVA can lead to the 'fall of sisu'. Maybe a director or two if anything illegal has happened, but not the shareholders.
If getting sisu out is the goal, then refusing the CVA is not the instrument to obtain that.

 

[Ripbuster]

we want to see is between 2011 accounts with a 10 million turn over 108 employees to a non trading company within a matter of 12 months.

Makes me wonder what the last 12 months account hold..:thinking about: SISU are in a rush to quell the unrest, for whatever reason I do not know?...But I'm sure we will find out...
When are/were they due?

 

[wince]

Yes, I agree - but the administrator has already done that as he has an obligation to investigate the validity of the assets in Limited. He has stated he has received all the information from all involved parties that he has requested - that include information from BDO, the auditors

No he didn't, he said investigating ongoing

 

[ohitsaidwalker king power]

Pax- Since SISU tenure can you tell me one aspect of the football club that has improved ..?

Unanswered question?

 

[jimmyhill]

Reject the CVA.

 

[Jack Griffin]

The law deal with what? Are you telling us you know they broke the law? Where?

Are you telling me you think SISU have nothing to answer for & they're squeaky clean?

 

[Jack Griffin]

I want to see it all the way back to 1995. That's where all this mess stems from.

Records only go back 6 years.

https://www.gov.uk/running-a-limited-company/company-and-accounting-records

How long to keep records

You must normally keep records for at least 6 years from the end of the last company financial year they relate to.

You may need to keep records longer if:

• they show a transaction that covers more than 1 of the company’s accounting period
• the company has bought something that it expects to last more than 6 years, like equipment or machinery
• you sent your Company Tax Return late
• HMRC have started a compliance check into your Company Tax Return

 

[cloughie]

No he didn't, he said investigating ongoing

And here we come to the crux of the matter,

Appleton said his job is on going whilst the cva remains unsigned and when signed he is no longer obliged to carry on his so called searching into the truth of 11/12