Wasps going into admin & the impact on CCFC (8 Viewers)

[Philosoraptor]

ACL didn't file intention of administration until about a week or so later, so assume they won't enter admin today.

There are two separate ACL companies.

Need to differentiate between them and what each one of them contains and does.

Again, far more knowledgable people than me are tuned into this on the thread that can give an answer.

 

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[B-Ban-Boogie]

Perhaps an Elephants foot stamping on the fucker.

Was going to get a flag of this a few years ago...
I'd forgot I had it until your post..

Spoiler: SOW

 

[Nick]

I know… quote the email to him

Oh I will if they lend them money.

 

[Philosoraptor]

I think it may be safe to say that communication has totally broken down between a few parties.

 

[oldfiver]

I did last week View attachment 26643

Being pedantic- should have said "yes" to the question?

 

[standupforcity]

Is their fixture v Sale tomorrow still on at the CBS?

 

[Seamus1]

Is their fixture v Sale tomorrow still on at the CBS?

No, it has been cancelled. Pitch is going to be good for Wednesday

 

[chiefdave]

I mean this could backfire a little here. We need ACL running at least up until the World Cup

Don't the terms of the lease mean that the council can take the lease back and, at least temporarily, take over running ACL.

Loaning money and the company still being in the control of Wasps should be off the table.

 

[HuckerbyDublinWhelan]

Don't the terms of the lease mean that the council can take the lease back and, at least temporarily, take over running ACL.

Loaning money and the company still being in the control of Wasps should be off the table.

I don’t see why they just don’t let ACL go bust then the stadium is not encumbered.

becomes far more saleable

 

[hill83]

 

[oldfiver]

I don’t see why they just don’t let ACL go bust then the stadium is not encumbered.

becomes far more saleable

The over riding charges don't disappear

 

[shmmeee]

I mean this could backfire a little here. We need ACL running at least up until the World Cup

Just more games to play after the big January Mike Ashley rebuild

 

[It’sabatch87]

As soon as they are in admin can we take those stupid badges off and fill in that lettering in Tesco stand?⚽️

 

[Nick]

I don’t see why they just don’t let ACL go bust then the stadium is not encumbered.

becomes far more saleable

Wonder if they owe the council anything already?

 

[skyblu3sk]

Surely there should be legal/criminal proceedings against Wasps board members if they've continued taking money to spend on a failing business? Is it not classed as fraud?

I imagine this would be a difficult one to prove. Many many companies are loss making for a number of years when they are created. If you have lines of credit and a business plan you could so seen as a going concern. They will point to the fact HSBC nearly leant them money etc.

 

[usskyblue]

 

[skybluetony176]

I imagine this would be a difficult one to prove. Many many companies are loss making for a number of years when they are created. If you have lines of credit and a business plan you could so seen as a going concern. They will point to the fact HSBC nearly leant them money etc.

The transfer of ownership of the training ground is dodgy as… looks like asset stripping ahead of liquidation which as far as I understand is highly illegal.

Unless of course full market value was paid in exchange.

 

[Bad Boy]

The transfer of ownership of the training ground is dodgy as… looks like asset stripping ahead of liquidation which as far as I understand is highly illegal.

Why can't people just be honest and decent when their businesses are failing or am I being a c*ck?

 

[Ash]

As soon as they are in admin can we take those stupid badges off and fill in that lettering in Tesco stand?️

I was sad enough to count the blocks so we could fit “Coventry City” in there. I know… too much spare time!

 

[SHUNT31]

I was sad enough to count the blocks so we could fit “Coventry City” in there. I know… too much spare time!

Should put PUSB there


Sent from my iPhone using Tapatalk

 

[oldfiver]

The transfer of ownership of the training ground is dodgy as… looks like asset stripping ahead of liquidation which as far as I understand is highly illegal.

Unless of course full market value was paid in exchange.

As has been repeatedly said - the training ground was never owned by Wasps Holdings.

 

[edgy]

2pm eyes peeled.

 

[Liquid Gold]

As has been repeatedly said - the training ground was never owned by Wasps Holdings.

Almost like those in charge foresaw this eventuality like the rest of us...

 

[Skyblue_CP]

Think some of us are getting ahead of ourselves here. Do we know Ashley is even in for the club? Somehow in all of this we are going to end up at St Andrews, I just know it lol.

 

[AOM]

Just more games to play after the big January Mike Ashley rebuild

Looking forward to Andy Carroll firing us up the league after January

 

[skyblu3sk]

The transfer of ownership of the training ground is dodgy as… looks like asset stripping ahead of liquidation which as far as I understand is highly illegal.

Unless of course full market value was paid in exchange.

Hmmm unless it was purchased with a loan from the director that they have defaulted on so therefore the asset transfers? Not sure how else they could do it.

 

[skyblu3sk]

Why can't people just be honest and decent when their businesses are failing or am I being a c*ck?

Depends it they are failing, it can sometimes be cash flow issues etc. In this case I do think it's a failing business but the directors will be bought in to the project and may have truly believed they could turn it around with time.

 

[Grendel]

I imagine this would be a difficult one to prove. Many many companies are loss making for a number of years when they are created. If you have lines of credit and a business plan you could so seen as a going concern. They will point to the fact HSBC nearly leant them money etc.

They have been taking bookings and incurring man costs - Richardson publicly declared they were not entering administration a few weeks ago - all the indicators point one way and the funding - even it was ever really there - would not have covered all the increasing number of creditors

 

[Nick]

Surely they knew it was failing when they falsified evidence for the auditors?

 

[Nick]

How long after administration do they put the creditor list on companies House?

 

[Grendel]

The transfer of ownership of the training ground is dodgy as… looks like asset stripping ahead of liquidation which as far as I understand is highly illegal.

Unless of course full market value was paid in exchange.

It never owned the training ground - they will have been a supply and rental arrangement

 

[Nick]

It never owned the training ground - they will have been a supply and rental arrangement

I read something about a mansion next door but not sure who owns that either.

 

[dadgad]

In fairness there are two BBCs really, the national news which is full of pro Tory editors and broadcasters and the local which still fulfils the public service remit.

Sent from my SM-G935F using Tapatalk

Yes, you could say that ‘local’ news plays lip service to the actual needs of society while the big hitters in London shore things up for the establishment.

 

[CCFCSteve]

They have been taking bookings and incurring man costs - Richardson publicly declared they were not entering administration a few weeks ago - all the indicators point one way and the funding - even it was ever really there - would not have covered all the increasing number of creditors

If they were still actively exploring potential options/solutions/sale it’s unlikely the directors will be pulled up for continuing the past few weeks and months

I look back further though…was it ever truly viable ?!

 

[Colin Steins Smile]

Bagsy not being linesman

I'll ref on Wednesday.......put a bet on a 9-0 home win with 8 penalties