H
Huckerby
Guest
For normal companies:
Now, I as reading a lot of comments on news articles in the build up to the final CVA meeting, and SOME fans were crossing their fingers that ACL would reject the CVA, and we'd take the 15 point reduction and then be rid of SISU. Well this doesn't seem to be the case. So what does going into liquidation actually mean for a football club? Surely if a normal business goes into liquidation it ceases to exist, and all of its assets are sold off. But for CCFC, it seems to be that it gets a 10 point deduction and....and what? Not a lot else?
I'm just a little confused. Sorry if it's been answered already - the search function doesn't accept my captcha answers. Does going in to liquidation mean that there is ANY possibility of new ownership? Or is that just a couple of fans who didn't know what they were talking about? It just seems a little odd that the choices seemed to be either accept the CVA and get £500k back, or don't accept it and get nothing back and the club takes a 10 point deduction and that's that.
Any info is appreciated guys, sorry if i've missed something blatently obvious.
In law, liquidation is the process by which a company (or part of a company) is brought to an end, and the assets and property of the company redistributed. Liquidation is also sometimes referred to as winding-up or dissolution, although dissolution technically refers to the last stage of liquidation.
Now, I as reading a lot of comments on news articles in the build up to the final CVA meeting, and SOME fans were crossing their fingers that ACL would reject the CVA, and we'd take the 15 point reduction and then be rid of SISU. Well this doesn't seem to be the case. So what does going into liquidation actually mean for a football club? Surely if a normal business goes into liquidation it ceases to exist, and all of its assets are sold off. But for CCFC, it seems to be that it gets a 10 point deduction and....and what? Not a lot else?
I'm just a little confused. Sorry if it's been answered already - the search function doesn't accept my captcha answers. Does going in to liquidation mean that there is ANY possibility of new ownership? Or is that just a couple of fans who didn't know what they were talking about? It just seems a little odd that the choices seemed to be either accept the CVA and get £500k back, or don't accept it and get nothing back and the club takes a 10 point deduction and that's that.
Any info is appreciated guys, sorry if i've missed something blatently obvious.