Tim Fisher reveals details of Ricoh bid (1 Viewer)

fernandopartridge

Well-Known Member
They certainly did.

They also had an agreement with Higgs that they would pay up to 29k of their costs if the sale never went through.

So how many think that it was a good move to spend a sixfigure sum to get out of paying 29k and create so much bad blood that Higgs don't want anything to do with them now?
They never owed £29k and never should have paid it. The counter claim was excessive but only in your dream world would you pay £29k when you don't have to.
 

chiefdave

Well-Known Member
So lets say Appleton succeeds and now Ltd own the 50% share in ACL. How does that end up with Otium? Can they just buy it off him, wouldn't any money coming into Ltd have to be distributed to creditors?
 

Godiva

Well-Known Member
So lets say Appleton succeeds and now Ltd own the 50% share in ACL. How does that end up with Otium? Can they just buy it off him, wouldn't any money coming into Ltd have to be distributed to creditors?

Who are the creditors and how much are each creditor owed?
 

skybluetony176

Well-Known Member
They never owed £29k and never should have paid it. The counter claim was excessive but only in your dream world would you pay £29k when you don't have to.

So they paid more instead to get out of it. In fact they exacerbated their own costs with the excessive counter claim. Do you have a logic for doing that?
 

Nick

Administrator
So they paid more instead to get out of it. In fact they exacerbated their own costs with the excessive counter claim. Do you have a logic for doing that?

So the logic was to just pay it?

I do agree though, I don't know what the counter claim was about whether it was some sort of "tactic".
 

fernandopartridge

Well-Known Member
So they paid more instead to get out of it. In fact they exacerbated their own costs with the excessive counter claim. Do you have a logic for doing that?
You know their reasoning. They sought to get hold of information to support their JR case. They obviously felt it a price worth paying.
 

chiefdave

Well-Known Member
Who are the creditors and how much are each creditor owed?

I assume the creditors will be SISU and their related companies, ACL and HMRC. I have no idea who is owned what. Isn't ACLs open to interpretation as it has to include compensation for early termination of the contract?

So my question remains, can SISU just say to Appleton we'll give you the £X that you paid ACL to buy that the share or would any money coming in have to be distributed proportionally?
 

italiahorse

Well-Known Member
I assume the creditors will be SISU and their related companies, ACL and HMRC. I have no idea who is owned what. Isn't ACLs open to interpretation as it has to include compensation for early termination of the contract?

So my question remains, can SISU just say to Appleton we'll give you the £X that you paid ACL to buy that the share or would any money coming in have to be distributed proportionally?

ACL were owed at least a years rent, extortionate as it was, plus the compensation for ending the lease.
 

Godiva

Well-Known Member
I assume the creditors will be SISU and their related companies, ACL and HMRC. I have no idea who is owned what. Isn't ACLs open to interpretation as it has to include compensation for early termination of the contract?

So my question remains, can SISU just say to Appleton we'll give you the £X that you paid ACL to buy that the share or would any money coming in have to be distributed proportionally?

It was actually my very first question when it came out ccfc ltd would have the option to buy the shares. But nobody ever answered with any kind of confidence. So I assume the issue is very complicated and we should look at who would actually object to the deal.

ACL? If the bid is successful the club owns half of ACL so surely they would not object?
Who else could object and what would be their reason?
 

Godiva

Well-Known Member
ACL were owed at least a years rent, extortionate as it was, plus the compensation for ending the lease.

They were paid all they were owed rent-wise. That leaves the compensation, but if the bid is successful the club own half of ACL, so surely they will not object?
 

italiahorse

Well-Known Member
They were paid all they were owed rent-wise. That leaves the compensation, but if the bid is successful the club own half of ACL, so surely they will not object?

The rent was at least £1.4M and they were told to pay £590K by the FL, so there is a gap. IMHO
 

oldskyblue58

CCFC Finance Director
They were paid all they were owed rent-wise. That leaves the compensation, but if the bid is successful the club own half of ACL, so surely they will not object?

ACL or indeed AEHC/Wasps will not object if it is in their interests not to ......... which has nothing at all to do with whether it is in the best interests of CCFC

the various interests might of course coincide but would you bet your mortgage on it?
 

Godiva

Well-Known Member
ACL or indeed AEHC/Wasps will not object if it is in their interests not to ......... which has nothing at all to do with whether it is in the best interests of CCFC

the various interests might of course coincide but would you bet your mortgage on it?

I do not bet on anything where sisu are involved!

My point is that I don't think ccfc ltd being in liquidation with unpaid creditors will influence the outcome of the bid for Higgs shares. If the bid fails it will be either because Wasps have secured some sort of veto or option to match any bid.
 

oldskyblue58

CCFC Finance Director
I do not bet on anything where sisu are involved!

My point is that I don't think ccfc ltd being in liquidation with unpaid creditors will influence the outcome of the bid for Higgs shares. If the bid fails it will be either because Wasps have secured some sort of veto or option to match any bid.

Point taken and agreed

think it might be even simpler than that though - it might be that AEHC do not think it is the best deal for them
 

italiahorse

Well-Known Member
Isnt the logic to just defend the claim and not bother with the counter claim?

I think the problem will be that SISU have upset Higgs and ACL during the past few years and both need to see through this for the sake of CCFC.
I suspect because all is hush hush that SISU are fuc$ed (and hence CCFC and us fans) in regards to owning a share in ACL.

Would be nice if SISU/Wasps agreed a deal for 50% providing SISU sell the club and the 50% ACL share as a package to a third party.
 

shmmeee

Well-Known Member
JS45576571.jpg



Now there's a caption competition waiting to happen.

"What's got one finger, one thumb and fucks football clubs?

This guy!"
 

duffer

Well-Known Member
I can't, fucking terrified of flying and have to get trollied before getting on one nowadays.

Valium is the answer, according to at least one of my mates. You could ask your GP. That and sitting at the back of the aircraft - I do that on the basis that they very rarely reverse into mountains. ;)
 

dongonzalos

Well-Known Member
Or you could look at it from the other way... you buy half of a company that 'potentially' could be successful for at least one of the parties. So you could sell up later down the line for more than you paid for it... providing some finance for your 'new stadium', have something tangible to allow you to sell you share in the club as a whole, or even pick up the share off your partner because it hasn't worked out for them.

Unfortunately that gives the charity an excuse not to sell to you.
Even if you intended to do that. You would put your bid in and not mention the new stadium. Why do you need to mention it?

Also if they think it will make a profit in the future why are people saying its a business doomed for failure?
 

SimonGilbert

Telegraph Tea Boy
FYI I understand Higgs will make decision on CCFC Ltd bid next week.

You can relax over the weekend!


Sent from my iPhone using Tapatalk
 

mattylad

Member
FYI I understand Higgs will make decision on CCFC Ltd bid next week.

You can relax over the weekend!


Sent from my iPhone using Tapatalk
Do you think there is a decision to be made or is it a done deal they will sell to the wasps franchise?
 
J

Jack Griffin

Guest
Do you think there is a decision to be made or is it a done deal they will sell to the wasps franchise?

I should think the trustees will have to hold a meeting which is minuted.

I'm sure decision must prove justifiable as being in line with the aims and objectives of the AEHC should there be any complaint or other attempt to block it.
 

DaleM

New Member
Do you think there is a decision to be made or is it a done deal they will sell to the wasps franchise?

Already made . The liquidated company making a bid ? They will be laughed out of the meeting



Sent from my GT-I8160 using Tapatalk 2
 

torchomatic

Well-Known Member
On the Observer site was it?

FYI I understand Higgs will make decision on CCFC Ltd bid next week.

You can relax over the weekend!


Sent from my iPhone using Tapatalk
 

dongonzalos

Well-Known Member
Annoys me to be honest our owners
Can't deal with our council
Can't deal with a local charity.
Can't deal with the local newspaper most people buy.
Classic case of 'why always me' t shirt everyone apart from the wearer of the t shirt knows.
SISU I hope you bid more than wasps. Then you for the first time in this farce over seven years will have been shafted.
 
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letsallsingtogether

Well-Known Member
Annoys me to be honest our owners
Can't deal with our council
Can't deal with a local charity.
Can't deal with the local newspaper most people buy.
Classic case of 'why always me' t shirt everyone apart from the wearer of the t shirt knows.
SISU I hope you bid more than wasps. Then you for the first time in this farce over seven years will have been shafted.

Tim said it was a cracking deal which included working with local children, I thought they already did that?
 

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