League ruling means ACL have won this round. Please read the ruling (1 Viewer)

[OyJimmy]

The league have clearly stated we can't move anywhere unless CCFC exit admin. odium have bought some assets off the administrator but not the company. As the Golden share can't be transferred the league are of the view we are still in admin.

As the biggest unconnected creditor AcL will not let us out of admin via a CVA. Only option is for odium to buy ltd and keep the AcL contract in place. Which defeats Sisu's objectives. In short they have lots.

 

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[RFC]

Are you SURE?

 

[OyJimmy]

Yes because they stated we are in admin as a football club. But the administrator claimed to have sold the golden share. In other words they have said the golden share has not been sold

 

[Fedupskybluesfan]

It only states they need to exit admin within there rulings, paying all football creditors in full (players and other teams) can't see that being an issue. I believe they also stated that they will also pay ACL full monies owed.

 

[OyJimmy]

It only states they need to exit admin within there rulings, paying all football creditors in full (players and other teams) can't see that being an issue. I believe they also stated that they will also pay ACL full monies owed.

Sorry where did it say they need to only pay off the football creditors? Think you are confusing the need to pay football creditors off with exiting admin. They are 2 different thing

 

[Fedupskybluesfan]

Sorry, I should of said the FL statement states they have to exit admin within there rulings, it does not say they can not move unless out of admin. The insolvency rules state that all football creditors ie. players, clubs etc have to be paid in full. this does not apply to ACL. Yes granted they can stop a CVA but this does not stop exiting admin. All it would mean is SISU liquidate CCFC LTD and ACL get nothing and CCFC get a points deduction next season.

 

[letsallsingtogether]

What they are going to pay ACL 50 million? the full amount they owe them don't think so....
Have offered half a million?

It only states they need to exit admin within there rulings, paying all football creditors in full (players and other teams) can't see that being an issue. I believe they also stated that they will also pay ACL full monies owed.