Council pays Sky Blues six-figure sum. ACL left to foot the bill (7 Viewers)

[oldskyblue58]

My God it's long time ago - the administration! Back then I was quite confident I had a grasp of the essentials, but my memories are failing me now.
Didn't the price of £1.5m include some £590t (give or take some thousands) to ACL? If so, then Otium will surely have to find the remaining from their own accounts.
I speculated back then that the bid was constructed to make sure ACL would receive what they were owed. That's why the bid wasn't £1m or £2m but this kind of strange number.
The problem could be if Appelton's bill exceeds the expected amount as he has first priority.

Still I would expect the majority of the money to ACL is sitting in Mr Appelton's account.

Don't think it did. The liability is payable Otium as a condition for being awarded the Golden share

The £1.5m was paid by Otium 27/06/13 the CVA rejection and awarding the share happened 02/08/13. There is a breakdown of what was bought by Otium or included in the 27/06 deal and the liability of £590k is not mentioned. Nor is it mentioned in Appleton's final administration report 27/09/13. By that time costs had risen to 1.2m with still more of his fees as liquidator to come. The £590k isn't sitting with Appleton. That leaves Otium having to find £590k by 31/05, more debt I assume to ARVO, but is a liability of Otium not CCFC Ltd or the administrator

I suspect that the £590k will be used as some bargaining tool in some way. Certainly if they did come back you might expect it to be tried to be used as a down payment. It isn't. It should have been compensation to the landlord for breaking the lease but the CVA failed. The only contract for it would seem to be between Otium and FL as a condition of the Golden share. ACL have to wait to see if the FL will enforce their rules. The remedy for non payment may well not be points deduction or a fine it could well be suspension of the share with all that might mean. I would expect legal wrangling over it still to come

 

---

[duffer]

My God it's long time ago - the administration! Back then I was quite confident I had a grasp of the essentials, but my memories are failing me now.
Didn't the price of £1.5m include some £590t (give or take some thousands) to ACL? If so, then Otium will surely have to find the remaining from their own accounts.
I speculated back then that the bid was constructed to make sure ACL would receive what they were owed. That's why the bid wasn't £1m or £2m but this kind of strange number.
The problem could be if Appelton's bill exceeds the expected amount as he has first priority.

Still I would expect the majority of the money to ACL is sitting in Mr Appelton's account.

Hey, in fairness there was a time I thought I'd got most of this clear in my head, that time has long since passed. I think it was reading and re-reading the hundreds of pages of Higgs trial transcripts and the SISU skeleton argument that finally broke me.

By the end of the JR I'll be a gibbering wreck. If I'd had to read Joy's one-hundred page statement (plus illustrations) too, I'd have undoubtedly cracked and gone on a murderous rampage. Thank heavens for small mercies, eh. Whatever Simon Gilbert gets paid, he's earned, in my book.

One day we'll look back on all this and laugh.

 

[Monners]

Hey, in fairness there was a time I thought I'd got most of this clear in my head, that time has long since passed. I think it was reading and re-reading the hundreds of pages of Higgs trial transcripts and the SISU skeleton argument that finally broke me.

By the end of the JR I'll be a gibbering wreck. If I'd had to read Joy's one-hundred page statement (plus illustrations) too, I'd have undoubtedly cracked and gone on a murderous rampage. Thank heavens for small mercies, eh. Whatever Simon Gilbert gets paid, he's earned, in my book.

One day we'll look back on all this and laugh.

Would make a great T shirt slogan for the first game of next season

 

[Godiva]

One day we'll look back on all this and laugh.

Think that should be put on my headstone.

 

[The Gentleman]

Think that should be put on my headstone.

Oh come on Godiva, your life couldn't have been that much of a joke

 

[Hobo]

Here. I'm sorry, to call those 'dingy' is ridiculous. Such wording from ML simply detracts from any worth in what he has to say. Why can't he just keep it measured?

http://www.holtcommercial.co.uk/images/stories/ricohofficesuitesphoenixwaycoventry.pdf

All I can say is ML must be working in an open field in Northamptonshire, if he considers those offices to be dingy?

 

[ccfc92]

All I can say is ML must be working in an open field in Northamptonshire, if he considers those offices to be dingy?

I didn't realise the offices would be that nice, what more does he want ffs? ARRRRGGGGHHHHHHHHHHHHH..... and breathe....... :blue:

 

[Tonylinc]

I think that we all knows exactly what he wants.

 

[Astute]

All I can say is ML must be working in an open field in Northamptonshire, if he considers those offices to be dingy?

Getting the plot ready for Godiva?

 

[Frisky blue]

Whereas your posts are thoughtful and full of intelligence.

Thank you.

 

[Grendel]

Same old rubbish

Bit harsh on yourself -- you've only done 8 posts -- then again all 8 have been shit

 

[Kingokings204]

A great point by OSB and one I have said before that the 590k will be used as some sort of bargaining tool against a rent deal or a purchase towards a knockdown Higgs share or whatever.

My point is I can 100% see them paying the money but I 100% don't see it as simple as just handing over the money like it should be. It's just what and how they do it? ML has already made us aware of how complex a bank transaction from one account to another can be. (This guy is great value for a laugh to be fair to him)

 

[No future with SISU]

Dont worry Mart, No Future with SISU, clearly doesn't know Coventry as the hospital is well within the City Boundary.

I want even born in Coventry so I must be a glory hunter.....no wait a minute

I belive Grendel is not a city fan and told him that I knew he was not from Coventry, his reply was that he was born at the hospital on tamworth rd, "now a poor Hotel" his words. Well when he was born there it was not in coventry and what sort of person says "now a poor Hotel". Sorry to anybody who was born at Keresley hospital if I up set you, finding out you were born in Meriden/Solihull.

 

[The Gentleman]

Bit harsh on yourself -- you've only done 8 posts -- then again all 8 have been shit

But your 15603 have all been great value!

 

[No future with SISU]

You are clueless aren't you. Its within the City Boundary, but then people who make out you cant support the team if you weren't born within the city boundary are idiots anyway.

It was not when Grendal said he was born there, and I never said you can not support the team if you are not from coventry, but I belive Grendel is not a city fan and is just on here to take the piss.

 

[Grendel]

I belive Grendel is not a city fan and told him that I knew he was not from Coventry, his reply was that he was born at the hospital on tamworth rd, "now a poor Hotel" his words. Well when he was born there it was not in coventry and what sort of person says "now a poor Hotel". Sorry to anybody who was born at Keresley hospital if I up set you, finding out you were born in Meriden/Solihull.

It is a poor hotel. It looks shit everytime I drive past it. If you bothered to look at my posting history you would see that your claim is absurd.

The irony is actually funny. Prior to the last season I have made numerous posts on games I attended. You on the other hand have not made one post related to watching games have you? You are a bullshitter and a liar and I think probably mentally disturbed. Also you have I suspect never attended a game in your life.

Oh well takes all sorts

Oh also the bollocks about being born in Merdien / Solihull is bollocks because my parents' actual address at the time was virtually in the City Centre. Most maternity births that side of the City was there.

Your a twat

 

[Grendel]

It was not when Grendal said he was born there, and I never said you can not support the team if you are not from coventry, but I belive Grendel is not a city fan and is just on here to take the piss.

Show us a post you've made about football. Ha ha ha ha ha.

 

[letsallsingtogether]

To be fair I class myself as a true Coventrian and I also was born at kersley hospital the former house of Albert Herbert.

It is a poor hotel. It looks shit everytime I drive past it. If you bothered to look at my posting history you would see that your claim is absurd.

The irony is actually funny. Prior to the last season I have made numerous posts on games I attended. You on the other hand have not made one post related to watching games have you? You are a bullshitter and a liar and I think probably mentally disturbed. Also you have I suspect never attended a game in your life.

Oh well takes all sorts

Oh also the bollocks about being born in Merdien / Solihull is bollocks because my parents' actual address at the time was virtually in the City Centre. Most maternity births that side of the City was there.

Your a twat

 

[letsallsingtogether]

You need to read the 15,605 you have written Phew.............

Bit harsh on yourself -- you've only done 8 posts -- then again all 8 have been shit

 

[bigfatronssba]

I'm confused. Is Grendel trying to claim that the the Royal Court (1 Mile within the city boundary) isn't currently in Coventry?

 

[martcov]

I'm confused. Is Grendel trying to claim that the the Royal Court (1 Mile within the city boundary) isn't currently in Coventry?

Yes, you are confused. Grendel is actually defending Coventrians who were born at the Royal Court against an attempt to class us as "Coventry Area".

 

[martcov]

I belive Grendel is not a city fan and told him that I knew he was not from Coventry, his reply was that he was born at the hospital on tamworth rd, "now a poor Hotel" his words. Well when he was born there it was not in coventry and what sort of person says "now a poor Hotel". Sorry to anybody who was born at Keresley hospital if I up set you, finding out you were born in Meriden/Solihull.

Yes, you have upset me - and probably a lot of Coventrians. We know what it says on our birth certificates - we learnt to read at school - in Coventry. Kerseley Hospital was the maternity hospital for my generation of Coventrians. Attack Grendel by all means for his views, but don't try and take us to "Coventry area". We have enough problems with owners taking our team out of Cov..

 

[RedSalmon]

Not trying to be controversial, but I always thought that Gulson Road was the maternity Hospital for Coventry, which was replaced by Walsgrave.


Have to agree, as a hotel The Royal Court is a right dump now!!

 

[Grendel]

Not trying to be controversial, but I always thought that Gulson Road was the maternity Hospital for Coventry, which was replaced by Walsgrave.


Have to agree, as a hotel The Royal Court is a right dump now!!

I assume it depends which part of the city you were from. It was certainly a maternity hospital for coventrians

I was in the harvester in allesley the other day. I remember visiting someone when it was Paybody hospital.

He probably isn't from Coventry either. Except he was.

 

[Astute]

My youngest son was born four hours away from Coventry. Does that mean he can never be a Sky Blue? Might as well give up now if that is the case.

 

[bigfatronssba]

Not trying to be controversial, but I always thought that Gulson Road was the maternity Hospital for Coventry, which was replaced by Walsgrave.


Have to agree, as a hotel The Royal Court is a right dump now!!

In fairness considering it's a britannia hotel it's practically a palace!

 

[Grendel]

In 1942 it became part of Coventry and Warwickshire hospital more bollocks from billy bullshit from bullshit land.

I suspect found the council link that said you need to go to solohull for birth certificates. Clever and no future for sisu are not natural bedfellows.

 

[fernandopartridge]

In fairness considering it's a britannia hotel it's practically a palace!

It was awful when I stayed there a few years back. Got lots of potential though.

 

[ccfcway]

so i assume that if SISU did get their hands on the Ricoh, they wouldnt use those dingy offices ?

 

[Skyblueweeman]

so i assume that if SISU did get their hands on the Ricoh, they wouldnt use those dingy offices ?

I think they're going to commute daily from their luxury pad 34 miles away.

Apparently.

 

[King of the Lesbians]

No him and his cronies came to my club punched it, kicked it,fucked it and then shat on it!

I'm pretty sure that's called an 'Alabama Hot-pocket'...but I wouldn't google it to check just in case I am right!

 

[No future with SISU]

In 1942 it became part of Coventry and Warwickshire hospital more bollocks from billy bullshit from bullshit land.

I suspect found the council link that said you need to go to solohull for birth certificates. Clever and no future for sisu are not natural bedfellows. THe clue is in the name "Warwickshire" it was in Meridian area then, not coventry .

 

[Nick]

In 1942 it became part of Coventry and Warwickshire hospital more bollocks from billy bullshit from bullshit land.

I suspect found the council link that said you need to go to solohull for birth certificates. Clever and no future for sisu are not natural bedfellows. THe clue is in the name "Warwickshire" it was in Meridian area then, not coventry .

So are you saying the Royal court isn't in Coventry? I am confused.

 

[Jack Griffin]

I think they're going to commute daily from their luxury pad 34 miles away.

Apparently.

Aren't their offices now in the sumptuous facilities at Ryton?

Name & Registered Office:
OTIUM ENTERTAINMENT GROUP LIMITED
SKY BLUE LODGE LEAMINGTON ROAD
RYTON ON DUNSMORE
COVENTRY
CV8 3FL
Company No. 07612487

 

[Frisky blue]

Bit harsh on yourself -- you've only done 8
posts -- then again all 8 have been shit

What a pathetic sad unprincipled moron you are. You are no Cov fan. C u next Tiesday