A question about liquidation (1 Viewer)

[skybluebeduff]

Could SISU potentially liquidate this club say at the end of the season?, or would they have to put us in administration first? How does it work?

It's just that I've noticed a few people say things like "SISU can liquidate us when ever they want", surely not? surely they'd be better off selling the club?


Again these are just questions and nothing more.


Cheers.

 

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[Kingokings204]

Could SISU potentially liquidate this club say at the end of the season?, or would they have to put us in administration first? How does it work?

It's just that I've noticed a few people say things like "SISU can liquidate us when ever they want", surely not? surely they'd be better off selling the club?


Again these are just questions and nothing more.


Cheers.

The argument I'm told is the golden share which is league one is worth around 1.5 million so even if there was nothing left then selling the GS for 1.5 is better than liqudating for nothing which I understand.

The problem is that if sisu out of spite get fed up of us could just decide to write the club off and just liquidate out of spite but I hope though don't know there are regulations against this.

Tbh the fact they have sacked SP and imo badly want to stay in league 1 shows they still value the club somewhat and still have a plan somehow of doing something positive with us.

 

[Silence_Is_The_Enemy]

didnt they liquidate us before and then just get us back under a different name destroying the contract with acl in the process which led to the wasps buying the ground and us getting a very soft -10 when other teams in that situation have been given -15 and up?

 

[the rumpo kid]

£ 1.5 million is a lot of spite

 

[Grendel]

didnt they liquidate us before and then just get us back under a different name destroying the contract with acl in the process which led to the wasps buying the ground and us getting a very soft -10 when other teams in that situation have been given -15 and up?

No ACl rejected the CVA

 

[Kingokings204]

No ACl rejected the CVA

Well that was out of spite you could argue.

1.5m is a lot of spite but I wouldn't put it past them. JS has already threatened it hasn't she? That's not gospel but she has mentioned the very thing we are worried about.

Luckily as you say 1.5 is a lot of money and this is the language sisu deal in so I think we could be ok just by this very fact.

 

[skybluebeduff]

So they can only chew their nose to spite there own face?, that's reassuring enough for me.
King is right though, they haven't sacked Pressley for nothing, they don't want this club in League Two.

 

[Astute]

The golden share has no monetary value. The FL can remove it from any club without payment for it. But without the golden share a football club loses its value as they wouldn't be able to play in the FL.

 

[Astute]

No ACl rejected the CVA

Yes they preferred taking our club to Northampton over accepting the terms asked for in the CVA.