CCFC Ltd; (1 Viewer)

[Tonylinc]

Maybe I am being a simpleton here but can someone explain why anyone would bid for a company whose assets are "unknown". Surely, the biggest possible asset is the elusive GS but even the Administrator does not know where that is!!!!

 

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[Sba180]

I thought FL had confirmed it was with ltd??

 

[ccfc92]

I thought FL had confirmed it was with ltd??

and the administrator. in answer to the question, i think their is more known that the public know

 

[Tonylinc]

I thought FL had confirmed it was with ltd??

If that is the case then I must have missed it. I hope that you are correct and another bidder other than Shitzu is accepted.

 

[vRS19TD]

FL and administrator have both said the GS was in Ltd but Sisu still claim it was in Holdings. Sisu have said there was nothing in Ltd, yet have bid for it, so there is obviously something in there worth having. It can't be about reuniting the club as Sisu claim the club is Holdings, so Ltd definitely has some value.
I just hope that Sisu haven't made some ridiculous bid that gets accepted and then that figure gets added to the clubs debts.

 

[Flying Fokker]

Isn't it more likely to write off existing debts? They will probably form another subsidiary too.

 

[rupert_bear]

Going to be very interesting where this goes, how long it takes and what happens should things not turn out as some think. There are some big players out there Hoffman, Elliott perhaps this Byng guy also Paul Fletcher and colleagues who have thrown their hats in the ring and could be others being very, very quiet at the minute, i am certain that won't last.

 

[oakey]

Our club is what the money men decide it is.

 

[skybluesam66]

the thing is 98% of the debt in limited is to holdings

so If sisu bid say 50million for limited - 98% of that (or 49million) -stays with sisu
The only way PH4 could outbid would be to bid £50m + £1. at that point, sisu walk away with their money back

So sisu will have bid at a level where they would accept a sale - If PH4 has not bid that amount, then ownership stays with sisu

my guess is that would be around £25m, and i suspect that ph4 will have bid no more than £5m

 

[vRS19TD]

Isn't it more likely to write off existing debts? They will probably form another subsidiary too.

http://www.coventrytelegraph.net/sp...news/preston-haskell-sisu-both-submit-4279998

The way i read the above article suggests that Sisu would pay off the debt to themselves and related companies, so whether that means wiping it out or adding it to the seemingly growing list of debts, i don't know.

My main hope is that CCFC begin the season with new owners.