Club Statement (1 Viewer)

[SkyblueBazza]

One would imagine this "subsidiary" pays the rent.

This is very different to the Southampton situation actually as the clubs parent company in this instance is clearly not insolvent.

A company that has no employees, & no assets sounds very dodgy to me...if it is a company that pays the rent (that's a new concept!)...someone has to be employed in some capacity in order to set the rent payment in motion. Or to operate as a company something must be produced or a service offered. If there are no assets or employees it sounds like money laundering is its trade.

 

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[cofastreecity]

One would imagine this "subsidiary" pays the rent.

This is very different to the Southampton situation actually as the clubs parent company in this instance is clearly not insolvent.

Very true and predictable

 

[Covstu]

I just get the feeling that this is just going to drag on and on, I am getting to the point where I could not care less.

I know what yo mean but I would rather just know good or bad and be done with it!

 

[CJparker]

One would imagine this "subsidiary" pays the rent.

This is very different to the Southampton situation actually as the clubs parent company in this instance is clearly not insolvent.

There are differences but it is the same trick - trying to get rid of creditors. CCFC hasn't been solvent in years, it doesn't matter what SISU's own finances are like. This is a drastic move, borne out of desperation - the situation is slipping away from SISU, and they know it

 

[skybluelee]

Its gone into overload. And all are waiting for one thing; OSB to come on here and help us understand all this stuff....

So true

 

[Spencer]

they wont get away with it...

everyone would be at it..

Create a company, dont pay the bills, fold the company, create a new company, dont pay the bills etc

Looks like SISU are playing the whole "we dont owe any VAT"

Well, we still have unpaid bills..

Football league wont have any of this.

In the business world it happens all the time. You'll normally have a holding company that owns all the assets and operating companies underneath which are exposed to the risks of business.

If one of the businesses catches a cold somewhere it is closed down without affecting the other businesses.

A recent similar case I can think of, within coventry, is bemfield construction which was closed but the parent company remained unaffected.

Companies are allowed to fail - it is one of the perceived risks of being in business (well, unless you are a bank of course).

How this would affect a points deduction I have no idea.

 

[sky blue zam]

never before have so many waited so long for one person to explain things in fecking english..... osb where are ya

 

[Sky Blue Spud]

Sounds to me if the plan is to play our home games in the Cayman Islands next season! Sounds like a good plan to me if we can get subsidized travel!

 

[Grendel]

In the business world it happens all the time. You'll normally have a holding company that owns all the assets and operating companies underneath which are exposed to the risks of business.

If one of the businesses catches a cold somewhere it is closed down without affecting the other businesses.

A recent similar case I can think of, within coventry, is bemfield construction which was closed but the parent company remained unaffected.

Companies are allowed to fail - it is one of the perceived risks of being in business (well, unless you are a bank of course).

How this would affect a points deduction I have no idea.

Yes in normal businesses this is fairly standard.

I don't think the football league will like it though its exactly what Leicester did in 2003.

 

[Nonleagueherewecome]

Changes in punishment were made because of what Leicester did. I think we're cruising for a Luton-type outcome.

 

[sw88]

never before have so many waited so long for one person to explain things in fecking english..... osb where are ya

Lets be 'Avin you!