torchomatic
Well-Known Member
Never said everyone. Some of them certainly do. There are those on Twitter who do too.
Liquidation (1 Viewer)
- Thread starter mark_ccfc
- Start date
Never said everyone. Some of them certainly do. There are those on Twitter who do too.
torchomatic
Well-Known Member
He is.
mark_ccfc
Well-Known Member
Wasnt it boddy who mentioned liquidation in the cet statement. Seems scaremongering to me to try and get support from the fans.
oldskyblue58
CCFC Finance Director
The trust can not force a liquidation or administration there is simply no mechanism for them to do so. They are neither a creditor or shareholder of otium so it's legally impossible. The only people who can create an insolvency event are the owners who are the only shareholders and also happen to be the largest creditors. The owners would as before control the insolvency which ever form it takes.
The trust board understand that and clearly state the situation in note 11 of the Q&A on fans ownership on their website.
What some clueless idiot says on Twitter about putting the club in to liquidation is not what the trust board understands. Similarly those claiming that the trust board are looking to achieve a liquidation or insolvency are equally ill informed as the trust board recognise it is not was not and could not be an option it is impossible for them to achieve. It is all nonsense.
What the trust board has done is to establish a process that could be used if the Ccfc owners created an insolvency event. They may, even so, never get a chance to use that safety net that has been put in place ready to use. The owners of Ccfc are the only ones that are likely to create an insolvency, in fact they are pretty much the only ones that could, be it a members or creditors insolvency or the owners no longer financially ensuring the other creditors are paid.
The trust board understand that and clearly state the situation in note 11 of the Q&A on fans ownership on their website.
What some clueless idiot says on Twitter about putting the club in to liquidation is not what the trust board understands. Similarly those claiming that the trust board are looking to achieve a liquidation or insolvency are equally ill informed as the trust board recognise it is not was not and could not be an option it is impossible for them to achieve. It is all nonsense.
What the trust board has done is to establish a process that could be used if the Ccfc owners created an insolvency event. They may, even so, never get a chance to use that safety net that has been put in place ready to use. The owners of Ccfc are the only ones that are likely to create an insolvency, in fact they are pretty much the only ones that could, be it a members or creditors insolvency or the owners no longer financially ensuring the other creditors are paid.
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Gibbo
Well-Known Member
Maybe a reason why they created Otium as one step removed?
shmmeee
Well-Known Member
Ducking autocorrect
letsallsingtogether
Well-Known Member
Am I?
Why because I never saw all that heritage when we were at sixfields.
Sorry forgot you are a super fan.
torchomatic
Well-Known Member
Nope, just a fan. Live and let live that's what I say.
COVKIDSNEVERQUIT
Well-Known Member
Thanks oldskyblue58 if this, just shows what a crazy decision by Mr Fisher to move the club to Northampton .
He's not the geat businessman man he thinks he is.
In any other business he would have been sacked .
He's certainly well in with Joy Seppala.
shmmeee
Well-Known Member
I can’t help but feel we are at cross purposes. The post you quote is in response to someone saying “if CCFC gets liquidated then it’s over”, I was pointing out that has already happened and the sun still came up. It’s not as simple as some are making out. The fact is we are dealing with the FA /FL not the laws of physics. They can and do make it up as they go along to suit whatever outcome they want.
As that BBC article states, they bent the rules to allow Otium to have the Golden Share and gave us a points deduction. The fact is they *could* do that again. However unlikely you *feel* it might be.
The club is not a limited corporation, it’s more than that. Who follows what in which division will be determined by a host of factors including decisions the FL make and the circumstances and resulting outcomes of any liquidation process.
Talking about “Non-League football” is silly. Do a I think we could survive a season in the Conference? Yes. Do i think 5000 fans will turn up at the bottom of the pyramid? No. Do you or I know which is likely to happen without knowing the circumstances of any liquidation? Hell no!
chiefdave
Well-Known Member
Maybe they could, although we all know the only reason they did it last time was to cover their own mistake in allowing the player registrations to be split from the club, however I would not want to risk the future of the club on the hope they'll do it again.
This highlights the issue perfectly for me. People who talk about liquidation seem to think we'll be back where we are now in a couple of years. Looking at other clubs this has happened to it wouldn't be a season in the conference it would be several seasons at levels below that. How is this new club getting the funding to go flying up the leagues?
thekidfromstrettoncamp
Well-Known Member
Have I read somewhere that if the club was liquidated by Otium that they the "Sisu group of companies " would no longer be able to receive the "Golden share" and would any liquidation mean automatic demotion because.I do think this time Wasps won't blink first.
letsallsingtogether
Well-Known Member
Really live and let live?
chiefdave
Well-Known Member
Liquidation would mean the club no longer exists, no need to worry about automatic relegation.
letsallsingtogether
Well-Known Member
Who knows has a club the size of Coventry been demoted that far down before?
Imagine the logistical nightmare for these clubs when we take more to their grounds then they get in average gates could they cope?
Just a thought.
Liquid Gold
Well-Known Member
But we wouldn’t be demoted because we wouldn’t exist. A new club could apply to take our place in the EFL and most probably be rejected, then it comes to which level votes to accept the new team. If the conference decides it would be too much trouble then they apply for the level below until someone says yes and then work back up from there. There is no evidence to suggest the EFL will give the league place to a new Coventry club.
Wasn’t that a dodgy pub?
Hobo
Well-Known Member
Are you lot still bickering? Yep, live and let live and whatever will be, will be...whether we are just fans or not.
COVKIDSNEVERQUIT
Well-Known Member
mark82
Super Moderator
This is the argument I really don't get. If the worst case scenario happened, we were liquidated and we had to reform, it would be nothing like Coventry United. They are nothing to do with Coventry City.
A reformed club would retain its history and honours like others before. It would likely be placed at a level above the level of Coventry United (my guess would be conference as long as we didn't finish in relegation places, otherwise conference north/south). It would play in CCFC colours, it would have the CCFC name (or at least something very, very close so that it would be known the same). Yes, it's definitely not something anyone should want, it's definitely something we should fear, it would be full of complications, but it would still be CCFC.
Liquid Gold
Well-Known Member
I think for me it comes down to how CCFC died. If it went after hurculean efforts by fans to save it and nothing could be done then maybe I’d consider a new team. If it went with a wimper and the new club was set up by people who put fuck all effort into saving what we have just to have a dig at sisu then it would be a different matter.
Nick
Administrator
No it wouldn't, it would have a different name and no honours.
mark82
Super Moderator
Agree, it all a very hypothetical argument. I still need a CCFC to watch though so would probably go whatever happened.
Grendel
Well-Known Member
If it’s some bollocks that included trust ownership I’m out
D
Deleted member 5849
Guest
Just because it wouldn't to you doesn't mean it wouldn't be to others!
Nick
Administrator
Just depends how ccfc it was.
Nick
Administrator
No it just wouldn't be ccfc and have the history.
The same as sphinx doesn't but they have a sky blue stripe kit.
D
Deleted member 5849
Guest
Yes it would.
Sky Blue Harry H
Well-Known Member
If ever there was an inducement (only joking, G !!)
mark82
Super Moderator
Completely agree with that. Don't think many would argue AFC Wimbledon are the real Wimbledon.
Nick
Administrator
How? The examples you gave are all different clubs aren't they?
I support ccfc because that's who I went with as a kid to watch. It's why I don't care if sphinx win and I'm not that fussed about England.
Not AFC Coventry for example. No matter how many ccfc fans go and watch.
mark82
Super Moderator
To me, that's as bad as people who don't go because of Sisu. I would prefer they didn't have involvmeinv though.
D
Deleted member 5849
Guest
To you. Not to the Newport Fucking County fans! You really are insulting them by taking away their history and their strength as fans.
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D
Deleted member 5849
Guest
Yeah, I'd be in despair if the first chaiorman was Joe Elliott! What could you do though, other than try and be chairman yourself...?
Liquid Gold
Well-Known Member
Damning on the trust really. You’d expect a decent trust to be put forward by fans in exactly that situation.