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I think you're (deliberately?) missing the point. The money is owed to SISU who are also the sole shareholders. Therefore writing off their own loan will not cost them anything. Anyway I will accept your apologies after it happens.

I don't think it will tell us much that we don't already know. CCFC have huge liabilities most of which are owed to SISU who have a fixed and floating charge over everything such that there is no prospect of a payment to any other creditors, most notably ACL. SISU will then "repurchase" the club...

Leicester City at home in 1978. Stood on the Kop. We won 1-0 with Nardiello (together with bandaged arm) scoring the winner. I got a programme for the game a few years back from ebay - was well chuffed.

Is it something to do with being a rent boy?;);):D

The team should sign the gagging agreement with SISU and then break the agreement. After all, that is the example that SISU has set for us all.

I chose "Continue and leave Coventry" on the basis that: 1. It would only be temporary 2. The huge loss of revenue would likely see the exit of SISU from our club 3. To do otherwise would mean losing all the club history, 1967, 1987, etc. and identity which is irreplaceable

Wasn't Tommy Atkins the chap who incessantly claimed that we would not go into administration but instead we would be liquidated. He never was the brightest.

I wonder how many of the people who are saying that Sheffers was lazy have ever suffered a serious sporting injury. When your knees are gone there is not much you can do about it I'm afraid.

I would imagine that they were told that ARVO is the secured creditor and so, unless PHIV, GH and co are willing to pay off the secured creditor, the club will remain with SISU. All SISU need to do is write off part or all of the amounts owed to ARVO with no cash actually moving around. This...

Let's suppose that SISU's claims are all true. Effectively SISU are saying "we colluded with a bank creditor to default on a loan in order to buy the loan back cheaply from the bank". First, if true, and if this had actually happened, then surely the bank would have had legal recourse to the...

Nonsense. The administrator's first responsibility is to the secured creditors, then the unsecured creditors, then the shareholders. If PHIV is not willing to pay off the secured creditors then ACL will receive nothing and SISU will retain the golden share simply by writing off part of their...

The odds are even worse than that I am afraid because part of SISU's debt is secured on the club's "assets" while ACL's debt is not secured. So SISU could "buy" back Ltd (without the obligation to ACL) simply by writing off a proportion of their secured debt. In other words, SISU don't have to...

I have looked at more than hundred cases of administration through my line of work, many of them involving large public companies. In the vast majority of cases it takes the administrator only 2-3 weeks to file the first report for creditors at Companies House.The fact that it is taking our...

Yes, this is exactly my reading of the situation too. Instead of merely a 10 point deduction I can see SISU landing us in a lot more trouble than that.

Agreed. However, it is important to bear in mind that the rent was paid to a company owned by the son of a director (McGinnity if I recall correctly). So the rental agreement was hardly on an arms length basis and was not an appropriate benchmark for setting the Ricoh Arena rent. Anyway SISU...

My bet is the court will grant ACL the right to place CCFC Holdings into administration. I cannot see a judge approving the wholesale transfer of assets from Ltd to Holdings prior to placing Ltd into administration.

If a court concludes that assets were taken out of the company prior to filing for bankruptcy with the intent of avoiding obligations to existing creditors (i.e., ACL), then the court can make the rest of the group liable for the debts. There are legal case precedents for this kind of situation...

Any management fees paid to SISU controlled companies would have to be disclosed in the notes to the financial statements as they would be "related party transactions". I don't recall seeing any such RPT disclosures in recent years so presumably that means that no mgt fees have been paid. On...

I think the fact that TF and SW only work for us part time doesn't exactly help.

There is some truth in what TF says about the club having no financial future without access to club revenues and a reasonable rent. I applaud the fact that TF is communicating with fans about these issues. However, the key fact is that SISU f***ed it up when they took over the club by not...