covcity4life
Well-Known Member
http://www.coventrytelegraph.net/news/coventry-news/coventry-city-administrator-claims-city-5151428
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appleton fires back (6 Viewers)
- Thread starter covcity4life
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RoboCCFC90
Well-Known Member
I am just so confused that I don't know what to make of it all.
Darth Robins
Well-Known Member
I really wish they wouldn't keep using that picture of him, that smug c**t face is possibly worse than George Osborne, and that's saying something!
fernandopartridge
Well-Known Member
Not by the sounds of the statement.
Absolutely. A fine piece of rabble-rousing by BA, but whether there is any basis to the legal points he makes remains to be seen - and none of us (if we're honest) can say with any certainty that there is any mileage in going after Appleton (who I suspect is on pretty safe ground - he doesn't strike me as an idiot).
Far better I think that he pursues SISU and tries to unravel their tangled web.
J
Jack Griffin
Guest
Well Ainsworth is doing his level best to make sure that Appleton leaves no stone unturned.
I think that's a fair point, and certainly no harm in asking the questions.
SkyBlue76
New Member
Well, Mr Appleton, I think we're all confused how you can propose a sale while at the same time continue with your investigations. What if those investigations show that SISU and all its companies have been committing fraud? Wouldn't that in turn mean Otium are not the preferred bidders after all?
I couldn't care less if Ainsworth has all the facts. The point is that there are deep suspicions about SISU's activities and at least he is trying to ensure a full investigation happens before the club is sold to yet another SISU company. You, however appear not to give a toss. How you can possibly claim the two activities are separate is beyond me.
Well done Ainsworth. Call this guy's bluff and pursue with your calls for an investigation.
I couldn't care less if Ainsworth has all the facts. The point is that there are deep suspicions about SISU's activities and at least he is trying to ensure a full investigation happens before the club is sold to yet another SISU company. You, however appear not to give a toss. How you can possibly claim the two activities are separate is beyond me.
Well done Ainsworth. Call this guy's bluff and pursue with your calls for an investigation.
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Manchester_sky_blue
Well-Known Member
Ah but there lies the problem - in the strictest letter of the law Otium is not SISU...........
oldskyblue58
CCFC Finance Director
He has the power to compell BDO to release the information or go to court to compell BDO to do so. It is covered by s234 and 236 of the Insolvency Act 1986 and over rides any argument about client confidentiality.
Of course you have to ask the right questions and be prepared to use the powers provided. He may be and may have done. If so why is it taking so long when in everything else time appears to be of the essence?
Has he done that ? Has he used his full powers ? Is it assumed that a large firm like BDO will not co operate on what for them is a small audit ? What and who does PA intend to investigate? Did the structure of the offer for sale dictate the outcome? when did the nature of CCFC Ltd actually change?
I think a few straight answers to straight questions would provide the transparency claimed sadly in my opinion these have not been forth coming
For someone who doesnt court the media spotlight and wont conduct his affairs in the media he does use the media fair bit even to the extent of employing a PR firm. People do not seem to trust in what he says though
Of course you have to ask the right questions and be prepared to use the powers provided. He may be and may have done. If so why is it taking so long when in everything else time appears to be of the essence?
Has he done that ? Has he used his full powers ? Is it assumed that a large firm like BDO will not co operate on what for them is a small audit ? What and who does PA intend to investigate? Did the structure of the offer for sale dictate the outcome? when did the nature of CCFC Ltd actually change?
I think a few straight answers to straight questions would provide the transparency claimed sadly in my opinion these have not been forth coming
For someone who doesnt court the media spotlight and wont conduct his affairs in the media he does use the media fair bit even to the extent of employing a PR firm. People do not seem to trust in what he says though
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Exactly.
After all Appleton asked for evidence AND didn't get it.
Why not?
Why did he ask for it?
Let's support Ainsworth until we know better.
SkyBlue76
New Member
I'm not sure if that's correct or not, but Otium has exactly the same address as SISU and Tim Fisher is one of its directors. If SISU and/or TF are proven to have misled/ deceived or at worst performed a criminal act, then surely that would mean the FL would not release the golden share to Otium. I think Ainsworth is right, the investigation must happen before the sale.
Appleton has said exactly what you would expect him to say. He's not going to say "OK Guv you've got me bang to rights" is he ?
His statement is fairly similar to Fisher's of the other day. Smacks of a SISU prepared statement.
I think both he and SISU/Otium are frightened to death of anybody getting too close, this suggests to me they may have plenty to hide.
His statement is fairly similar to Fisher's of the other day. Smacks of a SISU prepared statement.
I think both he and SISU/Otium are frightened to death of anybody getting too close, this suggests to me they may have plenty to hide.
Manchester_sky_blue
Well-Known Member
Innocent until proven guilty though isn't it
T
true sky blue
Guest
so you think painsworth is an insolvency expert now. er Appleton is. Sisu are doing everything the right way, heartfelt desperate cries for attention in parliament with the privilege of making up anything you want to - - thats not going to change anything. if there is fraud get the police involved. good luck with that.
the fact is this kind of PR from both sides is crippling the club and the fans - they both know it (sisu and acl) and they do not care. if you really want them to do what the fans want the fans must get at both parties.. protests in the thousands at sisu and at the council... beg the council to give in. good luck with that one too. our fans are a disgrace no more than a couple of hundred will protest if that. imagine if this was Liverpool - they would take 30,000 to the FA headquarters we can muster a handfull at the godiva statue. there lays the real problem, it isnt just the sisu and the council crippling us it is the fans too the fairweather ones happy to watch us play chelsea and never come again. they let the club the owners and the rest of the fans down.. so in all what im saying is when you play the blame game - we are all to blame for the debacle
the fact is this kind of PR from both sides is crippling the club and the fans - they both know it (sisu and acl) and they do not care. if you really want them to do what the fans want the fans must get at both parties.. protests in the thousands at sisu and at the council... beg the council to give in. good luck with that one too. our fans are a disgrace no more than a couple of hundred will protest if that. imagine if this was Liverpool - they would take 30,000 to the FA headquarters we can muster a handfull at the godiva statue. there lays the real problem, it isnt just the sisu and the council crippling us it is the fans too the fairweather ones happy to watch us play chelsea and never come again. they let the club the owners and the rest of the fans down.. so in all what im saying is when you play the blame game - we are all to blame for the debacle
I wonder whether he prepared his own statement or had someone prepare it for him..:thinking about:
both the administrator & its client SISU , continue to sing from different hymn books. they get asked questions about the assets & business and they tell different stories, or simply dont answer at all! yet this seems to be brushed aside & acceptable ?
even now we have SISU telling its club members that the ALL CREDITORS including ACL would be "paid in full".. i was in the room when Mr Fisher said this.. he continued "every penny they are owed, they will recieve under our offer to the administrator" .... then it emerges they are being offered 25p in the pound or something like that!! all these things are not helping the clubs or the administrators position or standing
even now we have SISU telling its club members that the ALL CREDITORS including ACL would be "paid in full".. i was in the room when Mr Fisher said this.. he continued "every penny they are owed, they will recieve under our offer to the administrator" .... then it emerges they are being offered 25p in the pound or something like that!! all these things are not helping the clubs or the administrators position or standing
SkyblueBazza
Well-Known Member
“We are in constant dialogue with all the stakeholders"...Fans really speaking are the largest stakeholders. Without them there is no revenue from match-days at all, none from merchandising. So when was the last time he spoke with the fans? The selected fans...who are they? How representative are they? And what are his views on the fans as stakeholders? If he means the TF forums...when did TF join his team?
That's what he said - and has said on a number of occasions.
So what has changed?
According to the administrator ACL was owed £630k (or something in that neighborhood).
They will receive about £500k.
25p/£ suggests a total debt of £2m. That's doesn't immidiately add up to anything known, so an unknow value must be in there ... maybe a years rent to compensate the break of the lease?
Then the calculation looks like: Owed at date of administration £630k + 1 year rent compensation = approximately £2m. So that could be the answer.
This also suggests that if ACL signs the CVA they accept the lease is broken and the compensation is set to one years rent. Personally I thought it would be more like three years rent as the Ricoh will take some time to find a new anchor tenant ... if it ever happens.
magic82ball
New Member
With all due respect, fuck off.
Broken Hearted Sky Blue
Well-Known Member
Of course Bobs using the protection of parliamentary privelige by doing that he can basically say or suggest anything he doesnt have to prove that what he has said is correct on the other hand Mr Appleton does. Thing is Bob can keep on saying these things till people in powerFL FA etc feel obliged to look at the situation they may well find nothing untoward I cant think that Sisu would be stupid enough to do anything illegal
skybluebal
New Member
Its a great picture! you can totally see his character make up in it - a great reminder of who is running the admin process.
skybluebal
New Member
Haven't SISU been claiming that they have a 'beneficial ownership' of CCFC Ltd hence all the fears of legal action? I would have thought that if there is any parent or investors from the SISU group companies, that will be easy enough to get from OTIUM and from CCFC Ltd & Holdings and from companies house etc. Therefore, taking the 'beneficial ownership' is it not possible to show that SISU own OTIM in one way or another! We need an investigative accounting/legal person to really dig into this. Nobody seems to be able to map out all the inter-related holdings - if they have apologies, I must have missed that.
Nonleagueherewecome
Well-Known Member
Is it Return of The Igwe next week?
Nonleagueherewecome
Well-Known Member
:thinking about::thinking about::thinking about::thinking about:
ointlaugh: ointlaugh: ointlaugh:Paul Appleton
“Perhaps he would have been better served in requesting another meeting with me rather than publicly betraying his lack of understanding of the process.”
So Mr Appleton, you thought you could simply ride up to Coventry and pocket £.5m for helping a bunch of unscrupulous villains to relocate the local football club and not expect to be vilified.
Seems to me that you have just betrayed your lack of understanding of what football means to a community.
“Perhaps he would have been better served in requesting another meeting with me rather than publicly betraying his lack of understanding of the process.”
So Mr Appleton, you thought you could simply ride up to Coventry and pocket £.5m for helping a bunch of unscrupulous villains to relocate the local football club and not expect to be vilified.
Seems to me that you have just betrayed your lack of understanding of what football means to a community.
RoboCCFC90
Well-Known Member
He can fook off!
Nonleagueherewecome
Well-Known Member
RoboCCFC90
Well-Known Member
They can all get stuffed and take Tim and Appleton with them!
Voice_of_Reason
Well-Known Member
But Mr Appleton -- you sold Coventry City Football Club BEFORE you had completed your investigations ? (which are still incomplete !)
stupot07
Well-Known Member
He hasn't sold the football club, he's sold assets out of ltd.