"While my investigations continue, the sale process is ongoing and I am meeting various interested parties over the coming days. When the process is finalised and a purchaser identified, the issue of the Golden Share will be dealt with.
Statement from administrator (1 Viewer)
- Thread starter Mo Konjic
- Start date
torchomatic
Well-Known Member
Well, well.
torchomatic
Well-Known Member
"Finally, let me stress I have no influence over statements issued by or on behalf of Holdings as they purport to be the company that has run the Football Club for however long.
Sub
Well-Known Member
Administrator to meet with interested parties this week
By Steve Carpenter Tuesday 21 May 2013 Updated: 21/05 12:05
ADMINISTRATOR Paul Appleton has confirmed he will be meeting with various parties interested in buying Coventry City FC Limited over the coming days.
A statement in full read: "I want to reiterate my position as Joint Administrator for Coventry City FC Limited.
"I am an officer of the Court and my duties are clearly defined. As such, these entail providing the best outcome for the Company while achieving one of the three purposes of an Administration.
"Contrary to recent statements and press reports, the process is complicated and I am still waiting on various answers from parties involved which will assist in my investigation. I have made this quite clear to ACL who, I am pleased to say, are assisting me in my enquiries.
"I have also made that position clear to the Sky Blues Trust and have pointed out many of these enquiries must remain confidential.
"While my investigations continue, the sale process is ongoing and I am meeting various interested parties over the coming days. When the process is finalised and a purchaser identified, the issue of the Golden Share will be dealt with.
"As I have stressed to various important stakeholders, it is within the gift of the Football League to agree any transfer of that Share. I have had positive discussions with the League and they have been kept completely abreast of the situation.
"Finally, let me stress I have no influence over statements issued by or on behalf of Holdings as they purport to be the company that has run the Football Club for however long.
"This matter – and others – will be addressed when the time is right to make an appropriate statement. In the meantime, I will continue to work towards my aim of achieving one of the three purposes of an Administration."
for people that can not open the link
A statement in full read: "I want to reiterate my position as Joint Administrator for Coventry City FC Limited.
"I am an officer of the Court and my duties are clearly defined. As such, these entail providing the best outcome for the Company while achieving one of the three purposes of an Administration.
"Contrary to recent statements and press reports, the process is complicated and I am still waiting on various answers from parties involved which will assist in my investigation. I have made this quite clear to ACL who, I am pleased to say, are assisting me in my enquiries.
"I have also made that position clear to the Sky Blues Trust and have pointed out many of these enquiries must remain confidential.
"While my investigations continue, the sale process is ongoing and I am meeting various interested parties over the coming days. When the process is finalised and a purchaser identified, the issue of the Golden Share will be dealt with.
"As I have stressed to various important stakeholders, it is within the gift of the Football League to agree any transfer of that Share. I have had positive discussions with the League and they have been kept completely abreast of the situation.
"Finally, let me stress I have no influence over statements issued by or on behalf of Holdings as they purport to be the company that has run the Football Club for however long.
"This matter – and others – will be addressed when the time is right to make an appropriate statement. In the meantime, I will continue to work towards my aim of achieving one of the three purposes of an Administration."
for people that can not open the link
Voice_of_Reason
Well-Known Member
Maybe he has no influence, but do they influence him !!!!! He knows damn well where the Golden Share is -- the Football League have told him it rests with CCFC LIMITED and his held in abeyance by them ! Bullshit Mr Appleton.
Skybluerevolution (Pt2)
New Member
This sounds like - Shut up Fisher/SISU and mind your own business, you are not helping with you continued bluster and posturing - and cheers ACL you have complied with all I have asked...and the FL are happy with the current status quo and the confidential findings of Mr Appleby thus far...I look forward to some new owners...roll on promotion. :claping hands:
Sub
Well-Known Member
Broken Hearted Sky Blue
Well-Known Member
So ACL are helping him with his enquiries no mention of the other party strange
jimmyhillsfanclub
Well-Known Member
....Basically I read that as.....
"Administrator gets on with job, despite harassment, name calling, obstruction & distraction from idiot fans & idiot business men"
"Administrator gets on with job, despite harassment, name calling, obstruction & distraction from idiot fans & idiot business men"
Skybluerevolution (Pt2)
New Member
I think it is the company he works for...
....Basically I read that as.....
"Administrator gets on with job, despite harassment, name calling, obstruction & distraction from idiot fans & idiot business men"
I read it slightly differently.
"Administrator has received a kick up the ar5e and knows people are watching his moves very carefully therefore he makes a statement that may appease them"
olderskyblue
Well-Known Member
Sounds to me like someone who has got annoyed with the questioning of his impartiality.
Cannot second guess him based on this, but this bit made me smile
"Finally, let me stress I have no influence over statements issued by or on behalf of Holdings as they purport to be the company that has run the Football Club for however long"
However long? So even that's not clear then...
Cannot second guess him based on this, but this bit made me smile
"Finally, let me stress I have no influence over statements issued by or on behalf of Holdings as they purport to be the company that has run the Football Club for however long"
However long? So even that's not clear then...
Senior Vick from Alicante
Well-Known Member
As I have stressed to various important stakeholders, it is within the gift of the Football League to agree any transfer of that Share. I have had positive discussions with the League and they have been kept completely abreast of the situation.
This is the important line from that statement for me. The other is basically ACL seem to be helping, SISU and CCFC are not. He isnt responsible for Fisher saying anything and cant control his spoutings and dont keep bombarding him with emails from individuals or the trust as you are reacting to the spoutings of a loonatic called Tim. I do think though we can only make accusations after he has made a full and final report, until then everything is conjecture and hearsay unfortunately. We all care thats why we say and do these things but its just a case of being patient. PUSB
This is the important line from that statement for me. The other is basically ACL seem to be helping, SISU and CCFC are not. He isnt responsible for Fisher saying anything and cant control his spoutings and dont keep bombarding him with emails from individuals or the trust as you are reacting to the spoutings of a loonatic called Tim. I do think though we can only make accusations after he has made a full and final report, until then everything is conjecture and hearsay unfortunately. We all care thats why we say and do these things but its just a case of being patient. PUSB
Delboycov
Active Member
"Finally, let me stress I have no influence over statements issued by or on behalf of Holdings as they purport to be the company that has run the Football Club for however long"
Very interested in his use of the word 'purport' in this statement! Dictionary definition "Appear or claim to be or do something, esp. falsely; profess."
Very interested in his use of the word 'purport' in this statement! Dictionary definition "Appear or claim to be or do something, esp. falsely; profess."
Last edited:
People read the statement and try to make it fit to their own agenda.
It's a very clever statement - it's tailor fit to all agenda's, without saying anything important.
Execpt the line extracted by the OP:
This is what should be discussed.
FIRST I select a buyer.
Only THEN will I deal with the Golden Share.
This mean - a buyer like PH4 and his consortium can buy the debts to ARVO and ACL, and then risk the Golden Share is transferred to Holdings. So PH4 is unlikely to offer more than £1 plus the £500k+ adminstator fee, and sisu can safely outbid them knowing if they buy Limited they will certainly be given the Golden Share.
Not exactly fair, is it?
It's a very clever statement - it's tailor fit to all agenda's, without saying anything important.
Execpt the line extracted by the OP:
This is what should be discussed.
FIRST I select a buyer.
Only THEN will I deal with the Golden Share.
This mean - a buyer like PH4 and his consortium can buy the debts to ARVO and ACL, and then risk the Golden Share is transferred to Holdings. So PH4 is unlikely to offer more than £1 plus the £500k+ adminstator fee, and sisu can safely outbid them knowing if they buy Limited they will certainly be given the Golden Share.
Not exactly fair, is it?
SkyBlueBlood
Member
I read that as he has spoken to the Football League who will have confirmed that they do not care who claims to have the Golden Share has they have taken it back as the club that they issued it to have gone into administration and they will issue it once the administrator has found fit and proper owners.
Otis
Well-Known Member
No, when he says Joint Administrator, he doesn't mean there's two of them, he means he's the only one but that to work his way through all the red tape he's puffing on a reefer as he's doing it.
RoboCCFC90
Well-Known Member
Administrator to meet with interested parties this week
By Steve Carpenter Tuesday 21 May 2013 Updated: 21/05 12:05
The future surrounding the Sky Blues remains uncertain. 11.09.003.jg7 (www.buyphotos247.com)
ADMINISTRATOR Paul Appleton has confirmed he will be meeting with various parties interested in buying Coventry City FC Limited over the coming days.
A statement in full read: "I want to reiterate my position as Joint Administrator for Coventry City FC Limited.
"I am an officer of the Court and my duties are clearly defined. As such, these entail providing the best outcome for the Company while achieving one of the three purposes of an Administration.
"Contrary to recent statements and press reports, the process is complicated and I am still waiting on various answers from parties involved which will assist in my investigation. I have made this quite clear to ACL who, I am pleased to say, are assisting me in my enquiries.
"I have also made that position clear to the Sky Blues Trust and have pointed out many of these enquiries must remain confidential.
"While my investigations continue, the sale process is ongoing and I am meeting various interested parties over the coming days. When the process is finalised and a purchaser identified, the issue of the Golden Share will be dealt with.
"As I have stressed to various important stakeholders, it is within the gift of the Football League to agree any transfer of that Share. I have had positive discussions with the League and they have been kept completely abreast of the situation.
"Finally, let me stress I have no influence over statements issued by or on behalf of Holdings as they purport to be the company that has run the Football Club for however long.
"This matter – and others – will be addressed when the time is right to make an appropriate statement. In the meantime, I will continue to work towards my aim of achieving one of the three purposes of an Administration."
for people that can not open the link
Unfortunately I am slightly disappointed with this statement. Mr Appleton failed to answer the most important question at this moment in time, which is clearly:
Mr Appleton did you ever play a Doctor in a British Science Television Program during 2005?
oldskyblue58
CCFC Finance Director
Sky Blue Dal
Well-Known Member
Nah - it's a typing error. He actually said 'Joy's Administrator'.
SonofErnie
Well-Known Member
That's probably how it will pan out, but surely this will just push the problems further down the line with another administration likely in the next 2 years?
Mary_Mungo_Midge
Well-Known Member
Sorry, I think he's quite complimentary to ACL, hence the line '....ACL who, I am pleased to say, are assisting me in my enquiries'.
In what way are you asserting ASCL have upset the administrator?
Listening to the radio this week; it's other 'stakeholders' who are preventing progress
That must be the logical interpretation. It also sounds as though the Administrator has got the measure of SISU; their lying, cheating, their miserable posturing and manipulation of the facts. They have previous too, acknowledged in a court of law.
If mud sticks......:wave:
which segment of the business will it be at that time??
Mary_Mungo_Midge
Well-Known Member
Double shock, I also agree with you Godiva.
The administrator's decision to sell CCFC Ltd before the Golden Share's location is defined; certainly appears to favour SISU over all other parties.
I wonder if PK4 might enter a conditional offer: i.e. a value of £1 'as is', plus covering administration and legal fees, plus a larger sum conditional upon the Golden Share being confirmed as being with Ltd?
Its possible to take much of it in a plural view ,ACLs mention could be read as a compliment but equally that they have been dragging their heels ,though why would be odd.
The referrence to Statements from Holdings sound Critical ,but at the outset he stated they were indeed entitled to carry on with "Businesss as Usual" as Tim puts it,so which of the two is it ,I'd say the first and the second is a reaction
The referrence to Statements from Holdings sound Critical ,but at the outset he stated they were indeed entitled to carry on with "Businesss as Usual" as Tim puts it,so which of the two is it ,I'd say the first and the second is a reaction
Mary_Mungo_Midge
Well-Known Member
I must admit; I do wonder what SISU think they'll get if they are successful.
Gates would be pitiful, and their reputation within the 'football family' would be like that afforded Wimbledon's owners when they moved to Milton Keynes.
No income, universally hated and with ever increasing losses; what the hell is the end game?
Is that even possible?
It's an auction ... I don't think you can 'condition' a bid.
Diehard Si
New Member
"Contrary to recent statements and press reports, the process is complicated and I am still waiting on various answers from parties involved which will assist in my investigation. I have made this quite clear to ACL who, I am pleased to say, are assisting me in my enquiries."
So basically, ACL are assisting and SISU arn't? Did i read that right?
So basically, ACL are assisting and SISU arn't? Did i read that right?
SkyblueBazza
Well-Known Member
I think the guy is on a hiding to nothing "Officer of the Court" i.e. IMPARTIAL. Some just will not accept that though. He must look after the interests of creditors which is where people perhaps wrongly think he is biased - as the main ones are ultimately SISU. He is not going to be influenced by them, fans or other interested parties. He IS awaiting feedback on various things - & because clearly SISU will dispute a damaging outcome for themselves...he is kind of acknowledging that TF wouldn't be doing his job if he wasn't ploughing on regardless...but that does not mean TF/SISU will ultimately be found in favour of by MrA or the courts. I agree though that it makes it precarious for any other potential bidder to make a realistic offer - but that is the way the web have been woven not MrAs fault.
