ACL Statement (1 Viewer)

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fernandopartridge

fernandopartridge

Well-Known Member
A spokesperson said: “We want to see the Sky Blues playing home games in their home city at their rightful home the Ricoh Arena. This is what the supporters of Coventry City are pleading for. The way the fans have been treated by the Club’s owners is utterly cruel and any proposal that the Club should be ripped from Coventry and relocated to Northampton, or anywhere else outside the city, is absolutely heart breaking for everyone involved. It cannot make financial sense for the Club.

“With the Club set to remain in administration for some months to come, we have already made an offer to the Joint Administrator for them to play at the Ricoh Arena during this time. So far we have heard absolutely nothing in response to this offer which is astonishing given the circumstances.

“There is no reason for the Club to leave the City of Coventry. We trust that the Football League, as an organisation which holds the passions and interests of fans close to its heart, will not sanction this proposed move under any circumstances.”
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Interesting view on the administration.....
 
Nick

Nick

Administrator
I wonder if the administrator will say anything back? He has gone very quiet.
 
Sub

Sub

Well-Known Member
i think alot of people have a opinion on the administration process and its not a good opinion :whistle::whistle:
 
covcity4life

covcity4life

Well-Known Member
its alla bout putting pressure on FL now it seems, haskell and acl are pretty much a consortium right now taking on the evil empire that is sisu
 
wes_cov

wes_cov

New Member
When TF said "it would be madness for a business to sell at the current time at the low point..." i can only assume he he will look back and realise this was the high because SISU are taking our club to new lows every day!
 
Sky Blue Pete

Sky Blue Pete

Well-Known Member
wes_cov said:
When TF said "it would be madness for a business to sell at the current time at the low point..." i can only assume he he will look back and realise this was the high because SISU are taking our club to new lows every day!
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Completely agree the offer of £1 looks better and better
 
S

Spionkop

New Member
I don't care what anybody says, the administrator is in Sisu's pocket. He should be doing the talking, he's not. His silence says it all.
 
N

njdlawyer

New Member
skybluesam66 said:
that means acl will not accept the offer

a future further points deduction and relegation is a certainty
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Does anyone seriously think that playing at Northampton in front of 3000 and with a squad shorn of anyone with any value relegation is not a certainty anyway?
 
DazzleTommyDazzle

DazzleTommyDazzle

Well-Known Member
wes_cov said:
When TF said "it would be madness for a business to sell at the current time at the low point..." i can only assume he he will look back and realise this was the high because SISU are taking our club to new lows every day!
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Agreed - it was when he was asked in one of the forums "why won't SISU sell" and he said "it would be madness to sell at the bottom of the business cycle".

I struggle to understand many of SISU's statements and actions, but if they really think that last month was the bottom of the business cycle and they're planning to take the club to Northampton for 3 (yeah - it really will be just 3....) years - then you have to conclude that they are very very stupid.
 
oldskyblue58

oldskyblue58

CCFC Finance Director
would not surprise me if there are grounds for cva 22/07 are challenged and the meeting adjourned for further consideration, rather than voted down

also once cva is agreed the administrator has six months to produce a report on the actions of the directors and shadow directors, it might suit to agree the cva to get that to happen

as always nothing is simple in this
 
NorthernWisdom

NorthernWisdom

Well-Known Member
oldskyblue58 said:
would not surprise me if there are grounds for cva 22/07 are challenged and the meeting adjourned for further consideration, rather than voted down

also once cva is agreed the administrator has six months to produce a report on the actions of the directors and shadow directors, it might suit to agree the cva to get that to happen

as always nothing is simple in this
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OSB, while you're here, can you clarify why ACL can block a CVA? My lay interpretation was thery didn't have enough votes in this to do so but clearly they do... so how is this mapped out to allow them to have such power?
 
N

Noggin

New Member
NorthernWisdom said:
OSB, while you're here, can you clarify why ACL can block a CVA? My lay interpretation was thery didn't have enough votes in this to do so but clearly they do... so how is this mapped out to allow them to have such power?
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50% of the unsecured unconnected creditors by value have to agree with the cva as well as 75% of the creditors as a whole by value. Obviously the 75% will pass easily but the 50% unconnected is basically just ACL so it's completely up to them.
 
B

Brighton Sky Blue

Well-Known Member
Moff said:
It will take that long to prise Appletons tongue out of Fishers arse.
Appleton is a complete cretin and about as much use as catching your manhood in your zip.
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To me it just seems like nobody appreciates the urgency of the situation and would sooner hide behind paperwork and beauracracy.
 
oldskyblue58

oldskyblue58

CCFC Finance Director
two sets of creditors NW related (SISU ARVO CCFC H) and unrelated (ACL AHTrust HMRC)

Two votes

first is all creditors in which the related creditors would win the vote

However second vote to ratify is unrelated creditors only in which ACL would be largest. The second vote was established to try stop unscrupulous companies and administrators prejudicing the usually smaller unrelated creditors
 
Bill Glazier

Bill Glazier

Active Member
wes_cov said:
When TF said "it would be madness for a business to sell at the current time at the low point..." i can only assume he he will look back and realise this was the high because SISU are taking our club to new lows every day!
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Completely agree. I thought hedge funds were noted for their razor-sharp business minds. This lot are as thick as pig shit.
 
James Smith

James Smith

Well-Known Member
Bill Glazier said:
Completely agree. I thought hedge funds were noted for their razor-sharp business minds. This lot are as thick as pig shit.
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That's an insult to pig shit.
 
C

coop

Well-Known Member
they have to be the worst people in the world to invest your money with what a bunch of useless twats did any of them pass a maths test
 
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