There is no evidence the Golden share was anywhere other than CCFC Ltd since 1995. To move it requires written approval from FL
- All the accounts indicate until 31/05/11 share in CCFC Ltd thats why they were prepared as they were
- Company memorandum & articles approved by FA & FL confirm the club trading and therefore the share was in CCFC Ltd
- Actual minutes from CCFC Board meeting in 2008 confirm the share was in CCFC Ltd (thats after SISU bought in)
- the annual returns that provide a list of share holders at Company House submitted by FL show CCFC Ltd as the share holder
- The FA and FL have both confirmed in statements and written replies to ACL & Administrator that the share was in CCFC Ltd
There is no mistake the share was in CCFC Ltd
The investigation suggested by SISU into ACL CCFC CCFC H etc back to 2001 is just more smoke and mirrors to hide behind. They did due diligence in 2008 and bought as it was then in March 2008 confirmed in the Board minutes of the group the situation as disclosed in the accounts all along. The trade the players the share was in CCFC Ltd
No mistake, just because they admit to mistakes in registering players doesnt mean it is all wrong. You would have to ask if the directors of CCFC H knew that the trade etc was in CCFC Ltd why they tried to register players to CCFC H in the first place ....... one might be an error but a whole squad?
Looks as of the whole admin process can be re-run knowing players contracts are in LtD.
Enter Haskell and Byng again!
Appologies for keep coming back to you, I think there are crossed wires.
I agree the GS is with Ltd as admitted by the FL.
My question should of been, if the Premier Share was with Holdings as it must of before 1995, then when Ltd was created in 1995 there should be written evidence showing that it was moved?? If so why did the directors back then who moved it why we're the players not moved at the same time??
so a small question but in the first administration report issued the director of CCFC Ltd - Tim Fisher- listed player registrations of £466K as assets of CCFC Ltd at 22/03/13. So how is it obvious that all players were registered with the FL in CCFC Holdings?
What's people opinions on what will happen next then ?
Coventry City released the following response to our story: "As the club has consistently maintained, the players contracts have been registered by CCFC (Holdings) Ltd and registered by the Football League in the name of Holdings for over 10 years - way before Sisu took over the club.
The Telegraph has learned the League will tell the sports minister that, over time, the business model of Coventry City became increasingly complicated, and the errors had occurred within that period.
This might have already been mentioned but I wouldnt be surprised if sisu have threatened legal action against the football league if things hadnt worked out their way.
They do not hold the company house reg numbers of the league clubs, so do not know which coventry company the were dealing with. All they held was a name (coventry city) so it was easy for Fisher to move the assets to one company and the debt to another.
You are correct, but just to throw another one in the pot. As Holdings was and is the original company could it be that when they dropped out of the premier league the FL placed the GS in the wrong company as the PL share would of been with holdings as Ltd did not exist until 1995. Just a question???
That is nonsense, a smokescreen, everyone knew very clearly that the GS was in CCFC Ltd & that is where the player assets should be held.
The changes implemented by Mr Fisher & SISU in the last few years were in my opinion an attempt to break their long term rent agreement with ACL and I think there may be a case for ACL to claim substantial damages over these actions (which I very much doubt they were made aware of).
16 pages and no one has mentioned the irony of me spelling incompetence wrong in the thread title. I'm impressed.
Sisu are a debt based hedge fund. They know how to setup and close down companies and how to move around assets and debts to their advantage, and how to play the system..
We all know that right?
Its up to others to take it to court etc if they believe there was wrong doing or they were misled and are out of pocket illegally.
Yeah, but football isn't a normal business.
And after reading all of this thread I am surprised that nobody has mentioned that ACL were right to turn down the CVA and let the truth come out as was predicted by some on here.
Is there still anyone unhappy with them doing so, and if so why?
And after reading all of this thread I am surprised that nobody has mentioned that ACL were right to turn down the CVA and let the truth come out as was predicted by some on here.
Is there still anyone unhappy with them doing so, and if so why?
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