ACL lawyers to be on CWR this morning (1 Viewer)

[Sub]

Just been said on the radio they will be talking to ACL lawyers on the shane o'conner show this morning for anybody that wants to listen

 

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[Sub]

on in a few minutes

 

[Sub]

ACL not happy with administrator saying that appleton using what holdings are saying as a starting point not what the FA are saying ACL sent letters and had no responce appleton saying letters sent no reply from SISU (and companies) looks like SISU dragging there feet, not happy at costs racked up! 8 weeks on no answers not happy with administrator, read report over and over and not happy about share not found and what assets are there, no idea what assets are in LTD, appleton has the right to sell assets (what might be in LTD nobody knows) doing it at this stage is a huge risk. CCFC welcome to play at Ricoh, provided lots of information to appleton.


took as much info as i could sorry if some missing

 

[DazzleTommyDazzle]

Thanks for the update.

 

[Noggin]

He didn't say much different to what the fans have been saying, he is clearly very very unimpressed with the performance of the administrator, without out right saying it strongly inferred he isnt doing his job properly and isnt earning the huge money.

we do seem rather screwed to me, surely it's sisu that are going to win the bid to buy limited as they are the only ones that really know whats going on. sigh

 

[Samo]

He didn't say much different to what the fans have been saying, he is clearly very very unimpressed with the performance of the administrator, without out right saying it strongly inferred he isnt doing his job properly and isnt earning the huge money.

we do seem rather screwed to me, surely it's sisu that are going to win the bid to buy limited as they are the only ones that really know whats going on. sigh

Fit and proper owners?

 

[italiahorse]

This is worse than ever.
The administrator is asking for bids to buy the part club that is in administration yet only SISU know what is being sold.
Effectively they will be the only bidder that knows what they are buying.

 

[torchomatic]

Sorry, help me out here. Are ACL happy?

ACL not happy with administrator saying that appleton using what holdings are saying as a starting point not what the FA are saying ACL sent letters and had no responce appleton saying letters sent no reply from SISU (and companies) looks like SISU dragging there feet, not happy at costs racked up! 8 weeks on no answers not happy with administrator, read report over and over and not happy about share not found and what assets are there, no idea what assets are in LTD, appleton has the right to sell assets (what might be in LTD nobody knows) doing it at this stage is a huge risk. CCFC welcome to play at Ricoh, provided lots of information to appleton.


took as much info as i could sorry if some missing

 

[dadgad]

Administrator appointed by Sisu favours Sisu.
No surprise here.
Not sure if they have any legal obligation to find in favour of the long term interests of the business?
How could this be verified if true?

 

[singers_pore]

This is worse than ever.
The administrator is asking for bids to buy the part club that is in administration yet only SISU know what is being sold.
Effectively they will be the only bidder that knows what they are buying.

And SISU won't even be paying any hard cash for the privilege of buying Ltd. They'll simply convert some of the debt into equity and then rack up even more debts next season.

 

[cov1987]

ACL not happy with administrator saying that appleton using what holdings are saying as a starting point not what the FA are saying ACL sent letters and had no responce appleton saying letters sent no reply from SISU (and companies) looks like SISU dragging there feet, not happy at costs racked up! 8 weeks on no answers not happy with administrator, read report over and over and not happy about share not found and what assets are there, no idea what assets are in LTD, appleton has the right to sell assets (what might be in LTD nobody knows) doing it at this stage is a huge risk. CCFC welcome to play at Ricoh, provided lots of information to appleton.


took as much info as i could sorry if some missing

l knew at the time ACL not appointing there own administrator it would come back and bite there self in the butt

 

[BurbageSkyBlues]

Smell one big rotten fish.

If you don't know what you are buying, you don't buy. The only ones who won't mind are Sisu, so they buy their club back at minimal pence in the pound (against the debt), and then, hey presto, announce that they have the golden share!. That way, they have rid themselves of the rent arrears, at a small fraction of the amount owed, and pay off Appleton. Appleton's fees consist of what...his salary, plus monies discharged to other businesses in the course of his investigations....oh, guess what, might some of that be to SISU or Arvo, whilst looking at their books?...net cost to Sisu, a few hundred thousand....less than the rent arrears, for sure. Plus, ACL still struggling financially due to losing that rent, so Sisu have another go at getting the arena on the cheap ( judicial review pending)........

They are the experts at this world of business that we know little about.....

Best way forward is to create a new football club altogether, play at the Ricoh and represent our city. there will otherwise be years of wrangling and dispute, with no progress on the field...the bit we are all really wanting to see.

City of Coventry AFC !!