A concern (1 Viewer)

[japandy]

SISU have the ability to 'lose' losses of £60million, and to appoint their own administrator. So, how do we know their money exists?

If other bidders put forward their bid the administrator will want to see their money. But, will SISU be required to do the same?

 

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[stupot07]

It will be in the accounts surely. We know that around half of it is the historical debt to Robinson et al that was written off as iou's hence why it's still a liability.

 

[CCFCSteve]

Yes. It can't be a paper transaction. The administrator needs his fees and costs paid. In addition approx 20% of any floating charge realisations (ie monies that would go to arvo) have to be paid to unsecured creditors.

As I've said many times before I am still to be convinced at the level of debt sisu related companies are actually owed by Limited. Another one for Mr Appleton. We do however know that if sisu are successful (and never return to the Ricoh) acls unsecured claim will be several million, even tens if millions in lost future rent.

This should therefore be a factor in Mr Appletons considerations.

 

[japandy]

No, I mean if SISU put forward a bid of £20million for the club does the administrator need to see their money? If it is Elliot and his mates then the admin will need to see their money, but will SISU have to show their money as they are the parent club.

I want to personally thank SISU as I have started a school in East London and through their complete disregard for rules and regulations I have learnt so much. God bless SISU

 

[wingy]

It will be in the accounts surely. We know that around half of it is the historical debt to Robinson et al that was written off as iou's hence why it's still a liability.

Thought that was Performance and Time related Stu and in essence no longer pursuable??

 

[stupot07]

Thought that was Performance and Time related Stu and in essence no longer pursuable??

No idea what the agreement it, but could feasibly still be against the liabilities. I'm sure OSB mentioned it, and also les Reid.

 

[Grendel]

No idea what the agreement it, but could feasibly still be against the liabilities. I'm sure OSB mentioned it, and also les Reid.

I'm pretty certain a lot of it is former creditors. Didn't the co op bank write off a fair proportion of debt but would recover it if the club returned to the premier league?