Bob Ainsworth Commons statement questioning Appleton (1 Viewer)

[DaleM]

http://www.coventrytelegraph.net/news/coventry-news/bob-ainsworth-mp-launches-commons-6168516

Interesting points.
MP Bob AinsworthBob Ainsworth MP has slated Coventry City’s administrators in his latest Parliamentary motion.
The Labour MP for Coventry North East, who has been campaigning against Coventry City’s owners Sisu/Otium, has tabled his latest in a string of early day motions (EDMs) in Parliament.
It slams CCFC Limited administrator Paul Appleton’s latest report to creditors.
Mr Appleton’s highly confidential report was filed to creditors as the company entered liquidation.
The move to liquidation resulted from part-council owned Ricoh company Arena Coventry Limited refusing to sign a Company Voluntary Arrangement which would have brought the company out of administration.
It resulted in the Sky Blues losing ten League points.
Mr Ainsworth’s EDM states: “That this house notes the joint administrators of Coventry City Football Club (CCFC) Ltd have now presented their final report to creditors; believes that as they act as officers of the courts there was a reasonable expectation that their findings would be supported by the presentation of reasoned argument as with a court finding;
“Further notes that the report contains no such thing, evidence contained in board minutes from 1995 which first established the basic structure of the connected companies that make up the football club are not mentioned, board minutes from March and April 2008 which continue this structure under the current owners are not mentioned, asset registers and player transfer documentation since that time, including the asset register for 2011 which was signed by Tim Fisher, Chief Executive Officer, and indicated assets resided in CCFC Ltd are not mentioned, and no arguments to support the administrators sale of the company without assets are presented.
“Further believes the council taxpayers of Coventry, fans of the Sky Blues and the trustees of the Higgs Charity will not be pleased with this report; further believes that Joy Seppala and her investor’s Sconset Capital Partners LP, who were responsible for the choice of administrator, may be content with the report, but cannot be happy they continue to own a club with diminished potential and increasing debt; and calls on the government to examine the legislation that allows administrators to be appointed by those whose activities they are investigating and enables them to report in this opaque manner.

Be aware Bob enjoys parlimentary privilige .We don't.

 

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[Spionkop]

Dale, we've got so used to this sorry state of affairs. We fans know what's going on. How do administrators and hedge funds get away with it?
No doubt there will be those who say they are doing nothing illegal (questionable) - but ethically it stinks. I hope ultimately they are exposed. Mr Ainsworth is doing his best and I applaud him for it.

 

[shmmeee]

"and calls on the government to examine the legislation that allows administrators to be appointed by those whose activities they are investigating and enables them to report in this opaque manner."

Regardless of your opinion on our mess, surely this part is valid? The one thing for me to come out of all this is how fucked up the entire company administration process is.

 

[Monners]

Agree Spion - at least it keeps our plight on the agenda - embarreses the FL

 

[shmmeee]

Oh and good on Bob for using his privilege to let the fans know something about the content of the report. Obviously through his lens of opinion, but all Sisu has to do is release info themselves if there's more relevant details.

 

[Spionkop]

Monners, exactly. Mr Ainsworth is doing what he can. The key player, the Football League, could sort this tonight.
We all groaned when we heard that Sisu could and did appoint their own administrator. How bent is that!
Come back George Graham and your brown paper bags, you weren't so bad after all. (Just joking).

 

[DaleM]

I wonder what Appletons final bill will be for NOT reporting all the information etc. It stinks to high heaven that between them all they have destroyed CCFC.

I really can't for the life of me see why they still want to keep CCFC when there is no chance the club,even with a tinpot stadium , and the pie money, will ever make their money back

I really hope the SFO investigates all this and lead them all off in handcuffs, but money (or debts) talk if there are enough numbers involved.

Talking to mates etc. people are now starting to move on/do other things on a match day . I don't think , even if they came back it we will get anywhere near the amount of fans we had. As I have stated on here before I fear we are becoming another Luton Town.

 

[Deleted member 5849]

"and calls on the government to examine the legislation that allows administrators to be appointed by those whose activities they are investigating and enables them to report in this opaque manner."

Regardless of your opinion on our mess, surely this part is valid? The one thing for me to come out of all this is how fucked up the entire company administration process is.

Yeah I actually read the motion itself as criticising the structure of such things, rather than the man himself.

 

[simple_simon]

I still blame the FL more than anyone else.

 

[dadgad]

Well done Bob.
Another sorry indictment on the shower that run football and our club.
They deserve each other we do not.

 

[skybluetony176]

apparently PA has said its only an interim report not his final report. Fair play to Bob Ainsworth though for keeping the pressure up, who knows it might influence what PA omits, err sorry i mean include in his final report.

 

[SonOfSnoz]

Keep it up BA!
That's what you're paid for after all!

 

[Tonylinc]

Think I stopped taking any notice of PA when, after months, he still did not know where the GS was!!!!!

 

[Jack Griffin]

The key phrase is "own a club with diminished potential and increasing debt"

 

[georgehudson]

keep it up BA, it's time for the real truth to be told

 

[joemercersaces]

Think I stopped taking any notice of PA when, after months, he still did not know where the GS was!!!!!

But Appleton is an honourable man, and so if he said he didn't know we must believe him. As Fisher is an honourable man and Joy is an honourable woman and so when they say that they will build a new stadium and have no hidden agenda to distress ACL, as honourable people we must also believe them.

 

[dadgad]

These are the sort of people that control society nowadays, more the pity.
It is really sad that there are not more politicians like Bob Ainsworth who are willing to take these bastards on. Generally politicians like Blair, Harman and so on - luvvies of the ilk of bolinger bolsheviks - have really just been sucking off bankers, the gaming and drinks industry for ever without the slightest interest in the devastation this would cause communities. Football is just another casualty along the way.
Bob Ainsworth is a dying breed.

 

[dadgad]

These - Fisher, Seppala, etc., are the sort of people that control society nowadays, more the pity.
It is really sad that there are not more politicians like Bob Ainsworth who are willing to take these bastards on. Generally politicians like Blair, Harman and so on - luvvies of the ilk of bolinger bolsheviks - have really just been sucking off bankers, the gaming and drinks industry for ever without the slightest interest in the devastation this would cause communities. Football is just another casualty along the way.
Bob Ainsworth is a dying breed.

 

[fernandopartridge]

Dale, we've got so used to this sorry state of affairs. We fans know what's going on. How do administrators and hedge funds get away with it?
No doubt there will be those who say they are doing nothing illegal (questionable) - but ethically it stinks. I hope ultimately they are exposed. Mr Ainsworth is doing his best and I applaud him for it.

While I don't disagree, Mr Ainsworth wasn't asking questions about the practices of his Labour comrade when he was busy selling the club's home of 100 years despite not having a new one to go to.

 

[shmmeee]

While I don't disagree, Mr Ainsworth wasn't asking questions about the practices of his Labour comrade when he was busy selling the club's home of 100 years despite not having a new one to go to.

Did you ask him to?

Its sad that it gets to us not playing in Cov before people want to know more about what's going on off the pitch, but the truth is it was very quiet voices complaining when we were in the Prem under Richardson. Most of us thought little of how the likes of Keane, Jarni, Van Nistlerooy, Nedved, or whoever was rumoured that week, came into our little section of the football world.

 

[fernandopartridge]

Did you ask him to?

Its sad that it gets to us not playing in Cov before people want to know more about what's going on off the pitch, but the truth is it was very quiet voices complaining when we were in the Prem under Richardson. Most of us thought little of how the likes of Keane, Jarni, Van Nistlerooy, Nedved, or whoever was rumoured that week, came into our little section of the football world.

It's a fair point. Although the truth about the sale of HR / purchase of the Gasworks site didn't come out until years later.

 

[Jack Griffin]

While I don't disagree, Mr Ainsworth wasn't asking questions about the practices of his Labour comrade when he was busy selling the club's home of 100 years despite not having a new one to go to.

True about that, but who thought it was going to turn out like this! I was thinking along these lines at the time (not my words Joy Sepalla's).

“Plan A is building a new stadium. There is something very exciting about building something that is a new beginning. It feels like the club is at a new beginning.

Also Ainsworth has to fight this one after all the Ricoh is in his constituency isn't it!