CVA meeting today (1 Viewer)

shy_tall_knight · Jul 22, 2013

true sky blue said:
you think sisu have got this completely wrong? Like or hate them, they have got this absolutely right. Commercial leases are not like a lettings contract, companies stop paying the lease all the time, every day, usually to force the landlord to renegotiate and sometimes to have the landlord cancel the lease. There was no break clause in this lease so sisu were tied into the lease as part of the deal when buying the club. There may or may not at that point have been a verbal agreement where the rent would lower if the club suffered further relegation and acl may or may not have reneged on that verbal agreement -- that is the type of example that may or may not have lead to the club refusing to pay the rent. In commercial leasing the club are still the tenants of the grounds until the owners release them from the lease. The only way in which this is not the case is in a break clause or the company leasing the propoerty go into administration.

If you remember it was acl that forced administration on the club, the club did the only right thing and placed themselves into administration meaning they choose their insolvency company. If actual fact once you remove the outer layers of this situation the truth is sisu played an absolute blinder and have the council on their knees: Particularly with the 14 million pounds they are out pocket and will have to write off. I still believe we will be at the ricoh in time for the season to start. And why?? Because the council have no choice but to finally give... Last hour

OK so again you are the investor who gave £5m to SISU for project Coventry, nearly 6 years ago, when are you likely to see your money back plus any profits ?.

Maybe SISU are playing a blinder at distressing ACL and breaking their lease obligations but what has it cost us CCFC to achieve that relegation, Northampton, uncertainty

SISU do their best business with low profile private sector companies, CCFC is a small but high profile business with MPS etc FA becoming involved.. this investment is a disaster for them 6 years plus at least £15m spent for what?.

hutch1972 · Jul 22, 2013

duffer said:
So then, we're still in Admin, and likely to remain so for at least another six weeks.

I presume that the offer to play for free at the Ricoh still stands, and Otium can't legally do a deal to play at Sixfields (given that CCFC Ltd hasn't actually been sold to them).

Over to you, Football League - are you going to allow someone who doesn't actually own the club move us to Northampton whilst we could remain in our actual home ground (gratis) until it's all resolved?

I think you will find the FL have again broke their own rules and allowed the Sixfields share to stand.

RegTheDonk · Jul 22, 2013

duffer said:
So then, we're still in Admin, and likely to remain so for at least another six weeks.

I presume that the offer to play for free at the Ricoh still stands, and Otium can't legally do a deal to play at Sixfields (given that CCFC Ltd hasn't actually been sold to them).

Over to you, Football League - are you going to allow someone who doesn't actually own the club move us to Northampton whilst we could remain in our actual home ground (gratis) until it's all resolved?

You would think so Duffer, but seems the FL have just told Les Reid that we CAN groundshare while in Admin???

WHAT IS THE HOLD THAT SISU HAVE OVER THE FOOTBALL LEAGUE? WHY ARE THEY SHIT SCARED OF FOLLOWING THEIR OWN RULES?

Cant be because of fulfilling fixtures, ACL have made it clear they can play for free while in Admin.

Jack Griffin · Jul 22, 2013

Has pgsm1 been reprogrammed to attack the council instead of the trust and renamed tsb?

Either way the <RANT> button is stuck in the on position.

Deleted member 5849 · Jul 22, 2013

It's pretty sensible they want a ground sorted for an entire season, rather than after half a dozen games the club potentially having nowhere to play.

Broken Hearted Sky Blue · Jul 22, 2013

true sky blue said:
Pathetic, you lot are so pathetic, fans come here to this forum to give an honest open opinion, it seems to me that we must all have one opinion or basically go and find a railway line. Oh and we are all retards too ! All because we support the owners of our club, fuck the council !! Yes to sisu

yes to sisu

yes to sisu

yes to sisu

keep it up ms seppalla and co, the sisu boys are loving your demolition of the council!! Theyve had it coming for years - ever since they wrecked our city centre turning into a ghost town

Nick Im so glad youve listened to me and let HIM back on:claping hands:
Now come on wheres the Trust rant:thinking about:

true sky blue · Jul 22, 2013

sisu in
council out

sisu in
council out

sell up
sell up
sell up

thats the new chant

valiant15 · Jul 22, 2013

Broken Hearted Sky Blue said:
Nick Im so glad youve listened to me and let HIM back on:claping hands:
Now come on wheres the Trust rant:thinking about:

He so obviously a wum that im not even going to reply to any of the cranks bate.

BBSB · Jul 22, 2013

true sky blue said:
Pathetic, you lot are so pathetic, fans come here to this forum to give an honest open opinion, it seems to me that we must all have one opinion or basically go and find a railway line. Oh and we are all retards too ! All because we support the owners of our club, fuck the council !! Yes to sisu

yes to sisu

yes to sisu

yes to sisu

keep it up ms seppalla and co, the sisu boys are loving your demolition of the council!! Theyve had it coming for years - ever since they wrecked our city centre turning into a ghost town

It wasn't a ghost town last Saturday!

RegTheDonk · Jul 22, 2013

Deleted member 5849 said:
It's pretty sensible they want a ground sorted for an entire season, rather than after half a dozen games the club potentially having nowhere to play.

Yes, fair enough NW, I can see that. But the issue of standing up to SISU and not following their own rules has been going on for a while now. They've cocked up somehow and SISU must have something on them that would have consequences, not just for CCFC, but on a broader scale. They didn't even bat an eyelid when Seppia told them no meeting unless CVA is accepted.

true sky blue · Jul 22, 2013

BBSB said:
It wasn't a ghost town last Saturday!

no it wasnt i was there -- as i want cov to stay in cov. i simply blame the council. we all want the same outcome but with diferent views. no need to call people retards and the like though is it.

Darth Robins · Jul 22, 2013

Well if nothing else this thread has shown that SISU clearly have some sort of advanced technology inside Joy, I can't see any other way TSB could be posting on the internet with his head that far up her arse.

Samo · Jul 22, 2013

true sky blue said:
no it wasnt i was there -- as i want cov to stay in cov. i simply blame the council. we all want the same outcome but with diferent views. no need to call people retards and the like though is it.[/QUOTE]

If the cap fits buddy...

duffer · Jul 22, 2013

Deleted member 5849 said:
It's pretty sensible they want a ground sorted for an entire season, rather than after half a dozen games the club potentially having nowhere to play.

I see your point, but actually I don't thnk it is pretty sensible. It breaks their own rules, leaving them open to legal challenge from the other side in this specific case, and in some ways actually gets in the way of negotiation. If the FL say "play by the rules", SISU have to talk to ACL.

In the long run, it actually means that the FL have opened themselves up to attack from all sides in future disputes of this sort - and the Government might actually step in to legislate given how weak the FL have now shown themselves to be.

stupot07 · Jul 22, 2013

hutch1972 said:
I think you will find the FL have again broke their own rules and allowed the Sixfields share to stand.

It's in their rules that they can use their 'discretion'.

Astute · Jul 22, 2013

true sky blue said:
AT LEAST IM NOT A SHEEP!!! AT LEAST I HAVENT LET THE COUNCIL USE OF THE COVENTRY TELEGRAPH AND MISINFORMATION BRAIN WASH ME. I
[/COLOR]
SHES NO FUCKING MUG!!

You are right for once. You haven't been brainwashed. You need a brain for this to happen.

You are a mug though X

JHarding1987 · Jul 22, 2013

I have to say that whilst I am totally anti-sisu, other parties are just as guilty. Very admirable Ainsworth giving up his time for Saturday, but how much is that to do with the Council losing their Cash Cow. I'm not his biggest fan, so excuse the scepticism, his delayed words did seem genuine, to be fair, but I have that element of doubt. The council could be in for a hiding if they have cocked this up. SISU are waiting like vultures I am sure. Bryan Richardson, Mike McGinnity, Ray Ranson, Ken Deluded, Brody, Onge Ingwe, Paul Fletcher have all played a huge roll in City's downfall, but what SISU are now doing is beyond evil.

grego_gee · Jul 22, 2013

Noggin said:
Can you link to that please? I thought this wasn't in the public domain and we only knew what the telegraph had told us as they had seen it, who showed you?

noggin, I read the 750 owed for council tax today on a list of minor creditors including higgs owed 20000, I thought it was on this thread but I havent been able to find it armed with only my tab.
the 590000 claimed by ACL was my recollection of an appendix to an early report from Appleton, I could have the exact figure a little wrong but it was no more than 700k. I cant check that on the tab either.

imp:

ccfc92 · Jul 22, 2013

so what do we reckon, good that its adjourned....?

Godiva · Jul 22, 2013

grego_gee said:
noggin, I read the 750 owed for council tax today on a list of minor creditors including higgs owed 20000, I thought it was on this thread but I havent been able to find it armed with only my tab.
the 590000 claimed by ACL was my recollection of an appendix to an early report from Appleton, I could have the exact figure a little wrong but it was no more than 700k. I cant check that on the tab either.

imp:

Link: http://www.coventrytelegraph.net/news/coventry-news/wait-goes---crucial-coventry-5171710

At the date of the administration in March, there were three other non-connected unsecured creditors, owed small amounts - Coventry City Council (£773 - unpaid Council Tax), HM Revenue and Customs (owed £160,418 for a group VAT liability) and the Alan Higgs Centre Trust (£20,614 for use by the club's youth academy).

Nonleagueherewecome · Jul 22, 2013

true sky blue said:
Pathetic, you lot are so pathetic, fans come here to this forum to give an honest open opinion, it seems to me that we must all have one opinion or basically go and find a railway line. Oh and we are all retards too ! All because we support the owners of our club, fuck the council !! Yes to sisu

yes to sisu

yes to sisu

yes to sisu

keep it up ms seppalla and co, the sisu boys are loving your demolition of the council!! Theyve had it coming for years - ever since they wrecked our city centre turning into a ghost town

I would wager that this one is under 15 years of age..probably about 13? Shall I start a poll? We don't have enough poll's.

Nonleagueherewecome · Jul 22, 2013

Jack Griffin said:
Has pgsm1 been reprogrammed to attack the council instead of the trust and renamed tsb?

Either way the <RANT> button is stuck in the on position.

Or that! PSGM's sinister conjoined twin, separated at birth?

grego_gee · Jul 22, 2013

Godiva said:
Link: http://www.coventrytelegraph.net/news/coventry-news/wait-goes---crucial-coventry-5171710

thanks God,
saved me again!

imp:

grego_gee · Jul 22, 2013

SkyBlueCharlie said:
Mr Appleton's report of 13th May 2013, which is in the public domain, shows the ACL debt to be £636,381. There is no breakdown into it's various parts.

Thanks for finding that link,
the figure owed to ACL of 640000 confirms what TF had been saying, that some payments had been made last year for rent.
taking away another of the "planks" of the arguments against SISU ie that they paid no rent and another because it was held up as an example of TF's constant "lies"

imp:

simple_simon · Jul 22, 2013

true sky blue said:
no it wasnt i was there -- as i want cov to stay in cov. i simply blame the council. we all want the same outcome but with diferent views. no need to call people retards and the like though is it.

Ok, ok, explain why you believe this?

Godiva · Jul 22, 2013

grego_gee said:
Thanks for finding that link,
the figure owed to ACL of 640000 confirms what TF had been saying, that some payments had been made last year for rent.
taking away another of the "planks" of the arguments against SISU ie that they paid no rent and another because it was held up as an example of TF's constant "lies"

imp:

ACL drew the first £500k from the Escrow account.
The club paid matchday expenses - around £10k per game.

Noggin · Jul 22, 2013

grego_gee said:
Thanks for finding that link,
the figure owed to ACL of 640000 confirms what TF had been saying, that some payments had been made last year for rent.
taking away another of the "planks" of the arguments against SISU ie that they paid no rent and another because it was held up as an example of TF's constant "lies"

imp:

It's still only you and Tim Fisher that believe this (well actually Fisher doesn't believe it, just says it) so that leaves just you. You've been told over and over again that the "800k" rent they paid last year was 500k from the Escrow account which they had a legal responsibility to keep topped up (in fact they were ordered to top it up by a court in December?) and 300k in matchday expenses. They paid no rent, Zero!! It boggles my mind that you still believe this. You've had it explained to you dozens of times.

Godiva · Jul 22, 2013

Noggin said:
It's still only you and Tim Fisher that believe this (well actually Fisher doesn't believe it, just says it) so that leaves just you. You've been told over and over again that the "800k" rent they paid last year was 500k from the Escrow account which they had a legal responsibility to keep topped up (in fact they were ordered to top it up by a court in December?) and 300k in matchday expenses. They paid no rent, Zero!! It boggles my mind that you still believe this. You've had it explained to you dozens of times.

You're not fair here.
I think Fisher said ACL had received £800k in the last year. I know it is semantics - spin from Fisher, but that figure include the £500k from the Escrow as well as £10k/match paid by the club to cover matchday expenses. Technically Fisher never said the club paid £800k.
Regarding those matchday expenses, the figure was agreed with the council when they jointly planned how the club could buy the Higgs shares as well as the Yorkshire Bank mortgage. It is part of the JR so we will probably know the details in a few months.

grego_gee · Jul 22, 2013

Noggin said:
It's still only you and Tim Fisher that believe this (well actually Fisher doesn't believe it, just says it) so that leaves just you. You've been told over and over again that the "800k" rent they paid last year was 500k from the Escrow account which they had a legal responsibility to keep topped up (in fact they were ordered to top it up by a court in December?) and 300k in matchday expenses. They paid no rent, Zero!! It boggles my mind that you still believe this. You've had it explained to you dozens of times.

nogin the nog,
tell me a few more times, and tell me on what authority you tell me!

and then tell me why the registered debt to ACL is not £1.3m

perhaps then it will be true

imp:

Noggin · Jul 22, 2013

Godiva said:
You're not fair here.
I think Fisher said ACL had received £800k in the last year. I know it is semantics - spin from Fisher, but that figure include the £500k from the Escrow as well as £10k/match paid by the club to cover matchday expenses. Technically Fisher never said the club paid £800k.
Regarding those matchday expenses, the figure was agreed with the council when they jointly planned how the club could buy the Higgs shares as well as the Yorkshire Bank mortgage. It is part of the JR so we will probably know the details in a few months.

No I disagree, I can't prove it but I am very confident Fisher has said they paid 800k rent. I specifically remember him being asked why they weren't paying rent and the response was look shane we have been paying rent. Especially in 1 of his "look Shane" interviews.

Noggin · Jul 22, 2013

grego_gee said:
nogin the nog,
tell me a few more times, and tell me on what authority you tell me!

and then tell me why the registered debt to ACL is not £1.3m

perhaps then it will be true

imp:

ACL aren't owed the 500k the Escrow account would be, which presumably isn't going to exist if the lease is being broken, No one doubts ACL received 500k towards the rent from this account, but ccfc had a legal responsibility to top it back up. ACL have also recovered some of the money they are owed when they froze ccfc accounts.

Noggin · Jul 22, 2013

Godiva said:
You're not fair here.
I think Fisher said ACL had received £800k in the last year. I know it is semantics - spin from Fisher, but that figure include the £500k from the Escrow as well as £10k/match paid by the club to cover matchday expenses. Technically Fisher never said the club paid £800k.
Regarding those matchday expenses, the figure was agreed with the council when they jointly planned how the club could buy the Higgs shares as well as the Yorkshire Bank mortgage. It is part of the JR so we will probably know the details in a few months.

Ok I said I couldn't prove it, but I can, from a Tim fisher question and answer e-mail in Feburary.

"What is your final message to the supporters?
This is not as simple as a rent reduction so to those who just say ‘pay up’ or take the offer on the table, I say: a) we have paid more than £800,000 since this blew up last spring; and b) it’s about getting a long-term deal that means the club can compete with others on a level financial playing field. "

Godiva · Jul 22, 2013

Noggin said:
No I disagree, I can't prove it but I am very confident Fisher has said they paid 800k rent. I specifically remember him being asked why they weren't paying rent and the response was look shane we have been paying rent. Especially in 1 of his "look Shane" interviews.

I never heard any of his CWR interviews, but I believe he was asked at the forum and answered the way I say. The forums are on YouTube if anyone want to find his exact words.

Godiva · Jul 22, 2013

Noggin said:
Ok I said I couldn't prove it, but I can, from a Tim fisher question and answer e-mail in Feburary.

"What is your final message to the supporters?
This is not as simple as a rent reduction so to those who just say ‘pay up’ or take the offer on the table, I say: a) we have paid more than £800,000 since this blew up last spring; and b) it’s about getting a long-term deal that means the club can compete with others on a level financial playing field. "

Excellent find.
Well, that is simply not true unless Fisher thought the Escrow account was the clubs own money - which definetely wasn't the case.
The club still paid 10K/match in expenses, so they did pay something.

Broken Hearted Sky Blue · Jul 22, 2013

Godiva said:
Excellent find.
Well, that is simply not true unless Fisher thought the Escrow account was the clubs own money - which definetely wasn't the case.
The club still paid 10K/match in expenses, so they did pay something.

Every club pays matchday expenses that is not part of any rental agreement

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