Wasps going into admin & the impact on CCFC (277 Viewers)

[HuckerbyDublinWhelan]

Ive cleaned my specs and I wiIl give you that there is one “may not“ and one “may” - but not lots of mays. The council may choose not to forfeit the lease, but if they do then the bondholders would have to challenge the forfeiture, if the bondholders lost that challenge, the mays in red would become wills.

it is very complex, people in this thread are mixing up administration and liquidation and most haven’t read the prospectus.

If the administrators application is successful on Thursday then ACL enters administration and continues trading until the purchase is completed without the burden of the charge on the long lease. If the application fails, then the administrators are saying ACL will be liquidated opening up the potential for forfeiture and the bondholders would face a legal battle and potentially end up with a worse outcome.

Out on interest can further bidders come forward on Thursday?

 

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[hill83]

 

[Nick]

Reeves and Duggins doing Sisus pr for them

 

[Bertola]

What the fuck are those eyebrows all about?

 

[Nick]

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Needs a dirty bass line.

 

[hill83]

If you look carefully you can see @Earlsdon_Skyblue1 stumbling out of Lloyds

 

[MalcSB]

Out on interest can further bidders come forward on Thursday?

My understanding is that the period of exclusivity runs up to Thursday, so I guess not.

 

[oldfiver]

Ive cleaned my specs and I wiIl give you that there is one “may not“ and one “may” - but not lots of mays. The council may choose not to forfeit the lease, but if they do then the bondholders would have to challenge the forfeiture, if the bondholders lost that challenge, the mays in red would become wills.

it is very complex, people in this thread are mixing up administration and


The Council could forfeit the lease now. I am sure someone has asked CCC for their position - not formally of course

 

[SkyblueDad]

Keep seeing comments that 'Mike Ashley will have done his due diligence' too. The same guy who openly admits he did 0 due diligence when he took over Newcastle and was completely surprised to find them 100M in debt!

That’s probably why he will do due diligence and do it properly this time.

 

[torchomatic]

View attachment 27234

The gif that keeps on giving.

 

[Earlsdon_Skyblue1]

If you look carefully you can see @Earlsdon_Skyblue1 stumbling out of Lloyds

Just for everybody's benefit, a gentleman looking suspiciously like the one in the GIF had just been in the toilets there for about half an hour.

 

[jordan210]

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Isn't he a Catherine Tate character

 

[AOM]

View attachment 27234

When Hamer hits one of those pinpoint cross field long balls

 

[jordan210]

Why is he so proud that he "helped" the football club play some games before the World Cup. The club payed ACL dint to stay open

 

[Nick]

Why is he so proud that he "helped" the football club play some games before the World Cup. The club payed ACL dint to stay open

Because he thinks it makes him look good.

In reality he was using ccfc to keep ACL afloat until he could fuck us over again.

Like before.

 

[shmmeee]

Because he thinks it makes him look good.

In reality he was using ccfc to keep ACL afloat until he could fuck us over again.

Like before.

Would you rather they’d gone bust and we had more games postponed?

 

[TomRad85]

How many of you have continued to vote these people in since they originally fucked our club? Will you please just stop it.

Sent from my SM-G973F using Tapatalk

 

[Grendel]

Would you rather they’d gone bust and we had more games postponed?

Face it this whole debacle is just beyond defending - it’s one embarrassment after another

 

[Gynnsthetonic]

Where's Duggins in all this, the leader of the council is nowhere to be seen, he should be next to be grilled

 

[rexo87]

Where's Duggins in all this, the leader of the council is nowhere to be seen, he should be next to be grilled

Gary Ridley is asking that question by the looks of it

 

[shmmeee]

Face it this whole debacle is just beyond defending - it’s one embarrassment after another

Im not defending it, but it’s a fair question. The club seem happy with what he did to get games on. Would it have been better to let them go pop, and us have games postponed so that Sisu could get the arena?

 

[Grendel]

Im not defending it, but it’s a fair question. The club seem happy with what he did to get games on. Would it have been better to let them go pop, and us have games postponed so that Sisu could get the arena.

Well the cynic could say “getting games on” was partly to prevent liquidation and find the right buyer

 

[Sky Blue Harry H]

Yeah, he keeps saying formal requests when asked about discussions too.

Agree - tries to reframe the question when answering each time.

 

[shmmeee]

Well the cynic could say “getting games on” was partly to prevent liquidation and find the right buyer

Thats still not answering the question is it?

Would you rather we had games cancelled/moved if it meant in your view a fairer bidding process?

 

[Nick]

Would you rather they’d gone bust and we had more games postponed?

But the council have said all along they have no involvement with ACL and no input.

Funny that, another fucking lie.

If it meant that acl liquidated and somebody picked ACL and the club up with a nice fresh start I'd take a points deduction tomorrow.

Reeves stuck his nose in to keep ACL going until he could then try and fuck the club over again.

Again note how he didn't commit to saying Richardson isn't involved.... Wait and see if it turns out he is

 

[shmmeee]

But the council have said all along they have no involvement with ACL and no input.

Funny that, another fucking lie.

If it meant that acl liquidated and somebody picked ACL and the club up with a nice fresh start I'd take a points deduction tomorrow.

And if it meant ACL liquidated and Sisu and the council and Mike Ashley in a bun fight?

Or Sisu take over the Arena and everything carries on as normal?

The council have said no involvement with the admin process, they’ve been open throughout that they’re working with bidders. I’m still not sure what the smoking gun is TBH. Reeves went around looking for people to buy the arena before it went pop, seemingly including Sisu from what he’s saying. Only the Ashley bid went anywhere.

 

[clint van damme]

He has brought up more questions than answers.

He literally said he didn't know the preferred bidder and then said "we are talking to the preferred bidder"

Said hes limited in what he can do then said he was heavily involved in keeping City playing at the CBS

 

[Nick]

Looks like duggins or reeves is lying.

 

[rexo87]

Looks like duggins or reeves is lying.

really?? would never had thought it

 

[Nick]

And if it meant ACL liquidated and Sisu and the council and Mike Ashley in a bun fight?

Or Sisu take over the Arena and everything carries on as normal?

The council have said no involvement with the admin process, they’ve been open throughout that they’re working with bidders. I’m still not sure what the smoking gun is TBH. Reeves went around looking for people to buy the arena before it went pop, seemingly including Sisu from what he’s saying. Only the Ashley bid went anywhere.

They have been open with absolutely nothing. You have just said everything is a conspiracy when it's suggested they are up to no good.
Now it's "they have been open".

Of course he's involved with it for fuck sake.

 

[Philosoraptor]

Apparently now you can describe CCC as a complete bunch of cúnts, and it is okay to do this because you haven't made it formal.

Informally, most of them have been known as a complete bunch of wankers for a long, long time.

 

[Nick]

Said hes limited in what he can do then said he was heavily involved in keeping City playing at the CBS

It's what they have done all along.

"We can't do anything is between ccfc and ACL" but suddenly now is heavily involved if it means keeping ACL afloat and fucking the club over.

 

[skyblueeyesrevisited]

Where's Duggins in all this, the leader of the council is nowhere to be seen, he should be next to be grilled

Prefer him to be roasted on a spit

 

[Philosoraptor]

If you can put that into the WhatsApp group shmmeee, it would be much appreciated

 

[clint van damme]

Simon Gilbert becomes the first man in history to simultaneously grow a top knot and a pair of bollocks