Available to all who want a browse:
ftp://wck2.companieshouse.gov.uk/im...f6/cc/8e/98/blREX+0L0146-92955_9-08928590.pdf
ftp://wck2.companieshouse.gov.uk/im...f6/cc/8e/98/blREX+0L0146-92955_9-08928590.pdf
Initial response
Iit took me longer to work out the administrators charges than to work out CCFC financial position.
Iit took me longer to work out the administrators charges than to work out CCFC financial position.
Yes, I read that bit a couple of times. I guess it comes down to whether someone wants to buy us - and Ltd having the Golden Share helps. Sisu might need to buy the company to obtain it (if their beneficial ownership claim fails) or it gives the administrator an asset someone else might want to buy.
Thought the same. He was trying too hard to prove there is nothing in ltd.it was the bit when he said" whoever buys it should keep the receipt" they've ran out of ideas...times up fisher
Yeah those accounts.
PWKH seemed to think there is a gaping hole between those presented June 12 and what ADMIN found March13.
Seems somethings missing from the Sisu end .
Could Otium facing being struck off then not being struck off cloud anything here??
I meant to ask last night...is TF making a public admission that they have falsified accounts? Or just that they have deliberately provided an Officer of Court with false documentation/accounts? Or what? TF please explain!
Just think he should VERY promptly & very publicly explain what he means. Otherwise he might find himself in the dock.
Has anyone still got the link for the interview. Just want to double check what he said before I raise it as an issue.
O dear o dear o dear Joy I told you my four year old twin nieces were available to run the club too late now theyre going to school suggest you get Timmy to join the class he can play in the sandpit:jerkit:
Point 4 could have been written by SISU. The rent was inherited by them, and clearly due diligence didn't see it as a problem, but it seems it now has a highly damaging effect on the long term viability of the company. Nothing about the huge management charges from ARVO then?
Worrying bit is about the rules of the FL confer a wide discretion whether any transfer of the golden share should be registered.
Worrying bit is about the rules of the FL confer a wide discretion whether any transfer of the golden share should be registered.
Hope hes reading it love to see what he makes of it
I've only skim read it but there doesn't seem to be much untowards. Probably why I'm not an accountant...
Here's the link TF & the Higgs Charity chap are later on in the show. http://www.bbc.co.uk/programmes/p018sykg
I would think he meant that most of the balance contains 'intercompany' debts. Which is of no real value.
The 'real' numbers are ACL debts, player registration, prepayments ... and the ARVO debenture.
So CCFC Ltd have debts of £70m to other Sisu entities (including less than £1m owed to ACL), yet TF says we've 'moved on' from the problems of paying rent at the Ricoh and will groundshare for a minimum 3 years (at least halving income and losing at least c£12m) while building a new stadium (minimum cost £20m) outside the Coventry City boundary.
It doesn't make any sense whatsoever.
SISU were only interested in acquiring the Ricoh on the cheap, and CCCouncil called their bluff.
The next couple of weeks should be very interesting.
It doesn't make any sense whatsoever.
SISU were only interested in acquiring the Ricoh on the cheap, and CCCouncil called their bluff.
The next couple of weeks should be very interesting.
If you take that to the logical conclusion, I think you would have to look at the accounts of the parent company SBSL Ltd for the real numbers...
J
Jack Griffin
Guest
What other options are they?
I don't really understand how the escrow can possibly count as payment for rent by CCFC?
