Guy on twitter claims to have a reply from league confirming Otium have been rejected (1 Viewer)

Godiva · Jun 25, 2013

If there actually exist such a letter I wouldn't be surprised if it state that Otium (or sisu or Holdings) has not (yet) been accepted as fit and proper.
I can't see why FL would provide an individual outside the club with sensitive information as 'a failed test' would be.

Noggin · Jun 25, 2013

He just tweeted again, sounds like an e-mail not a letter and are to fail and have failed are not the same thing.

@CityCoventry @TheSkyBlueTrust I'm at work at moment, basically email says the FL believe Otium are to fail the leagues insolvency procedure

Otis · Jun 25, 2013

Why on earth would this be announced on Twitter?

:thinking about:

RoboCCFC90 · Jun 25, 2013

Not too but dampner's on this or to knock the credibility of the Tweeter, but just bare in mind Kurt Drago.

That is all.

_brian_ · Jun 25, 2013

Otis said:
Why on earth would this be announced on Twitter?

:thinking about:

Get with the programme, Otis! This is 2013 not 1913, mate! LOL!!!

Evo1883 · Jun 25, 2013

SkyBlueHomer said:
Whilst this would be good news, if it is true where would this leave us regarding the new season, don't forget 6 weeks to go.

We would have no owners, no ground to play in, FL hanging onto the golden share, unable to sign players, unable to satisfy FFP rules.
Would the administrator be able to put a deal together with ACL to play for the season & keep us in Coventry for this season minimum & the bidding process have to start over again & keep FL happy so we can at least start the season.

there is no doubt the administrator made the wrong choice to begin with ,the blame should lie at his doorstep

Otis · Jun 25, 2013

_brian_ said:
Get with the programme, Otis! This is 2013 not 1913, mate! LOL!!!

Don't they do telegrams anymore then? I've heard nothing on the wireless about it.:thinking about:

wingy · Jun 25, 2013

Otis said:
Why on earth would this be announced on Twitter?

:thinking about:

Remember PSGM 1 Put his reply out on here,while others were in the loop but were remaining silent for obvious reasons I can't recall currently ,Cofastreetcity posted something up last night that maybe suggested a bit of inside info along these lines.:wave:

jon92 · Jun 25, 2013

We find out today If the football league will give golden share back today

Nick · Jun 25, 2013

jon92 said:
We find out today If the football league will give golden share back today

Any idea if it is a court ruling or just a deadline?

Sub · Jun 25, 2013

wonder if this is why the silence has been deafening from all parties ACL, SISU, Council and PH4 :thinking about::thinking about:

Dhinsa's_Millions · Jun 25, 2013

I would love this to be true from a long term club perspective - However,I'm treating the 'news' with caution! Surely Otium haven't passed the fit and proper persons test at present! I hope this isn't just an update on what the current state of play is!

SISU appear to be devious, clever (when it comes to litigation not running a football club) and I'm sure they won't give up. Expect a long winded court wrangle if this is true!

dadgad · Jun 25, 2013

CraigSBA said:
there is no doubt the administrator made the wrong choice to begin with ,the blame should lie at his doorstep

Too TRUE.

He had a responsibility to make the BEST choice for the business going forward.

He clearly failed in this regard.

An abject dereliction of duty.

Perryccfc · Jun 25, 2013

If they do fail and the club is put back up for sale, could they bid again? Maybe even under a different guise again?

RegTheDonk · Jun 25, 2013

jon92 said:
I think the football league would make it official before they told just one person and normally les reid would break the news

Or the administrator. And the other bidders. Surely one of them would break this news first?

I don't doubt the guy, and I hope it's all above board - unless someones sent him a fake mail pretending to the FL?

This bloody place has more twists than a whodunnit novel.

Sub · Jun 25, 2013

Perryccfc said:
If they do fail and the club is put back up for sale, could they bid again? Maybe even under a different guise again?

will not make any difference even if they do seen as they still will not have a ground to play at

Noggin · Jun 25, 2013

Perryccfc said:
If they do fail and the club is put back up for sale, could they bid again? Maybe even under a different guise again?

They presumably could bid again but surely Appleton couldn't pick them again not while having any appearance of credibility anyway.

Deleted member 5849 · Jun 25, 2013

RegTheDonk said:
I don't doubt the guy, and I hope it's all above board - unless someones sent him a fake mail pretending to the FL?

Or it's wishful thinking and he's reading what he wants to read into vague statements.

Warwickhunt · Jun 25, 2013

If Opium are not accepted then if we do come out of administration with anyone else we will get a 15 point deduction for not coming out of administration correctly as there is No way SISU/AVRO etc will come to amicable agreement of the bid.

Noggin · Jun 25, 2013

Deleted member 5849 said:
Or it's wishful thinking and he's reading what he wants to read into vague statements.

It's probably the most likely scenario, which is why we needed to see it. The football league has stringent standards that must be met before we grant the league share, at this point these standards have not yet fully been met. I can see them having said something along those lines.

Sub · Jun 25, 2013

Warwickhunt said:
If Opium are not accepted then if we do come out of administration with anyone else we will get a 15 point deduction for not coming out of administration correctly as there is No way SISU/AVRO etc will come to amicable agreement of the bid.

we are still in administration so would the point deduction still apply ??

Noggin · Jun 25, 2013

Sub said:
we are still in administration so would the point deduction still apply ??

the deduction would be for coming out of administration without a cva, so whenever that happens (if it did) we would likely get a further punishment.

mattylad · Jun 25, 2013

Warwickhunt said:
If Opium are not accepted then if we do come out of administration with anyone else we will get a 15 point deduction for not coming out of administration correctly as there is No way SISU/AVRO etc will come to amicable agreement of the bid.

Its a price worth paying

Steve.B50 · Jun 25, 2013

We all know its only rumours but we need something to happen.

Noggin · Jun 25, 2013

I don't really understand how you can come out of admin without a cva? surely if the creditors don't accept the agreement then you don't leave admin and instead face being liquidated? or am I miss understanding that? if thats the case the sisu probably would accept a cva (I know getting miles ahead of the situation here) as it's likely a bid would give them more money than liquidating would.

Noggin · Jun 25, 2013

he just tweeted it will be uploaded within the hour

chiefdave · Jun 25, 2013

Noggin said:
I don't really understand how you can come out of admin without a cva? surely if the creditors don't accept the agreement then you don't leave admin and instead face being liquidated? or am I miss understanding that? if thats the case the sisu probably would accept a cva (I know getting miles ahead of the situation here) as it's likely a bid would give them more money than liquidating would.

A CVA is basically what you're going to pay back. If the only creditor (apart from SISU related companies) is ACL and they are paying them in full I guess that removes the need for a CVA, or maybe there will be a CVA but the only people who need to agree it are SISU.

duffer · Jun 25, 2013

The chap in question is saying he'll have the email uploaded in the next hour... the tension builds

ajsccfc · Jun 25, 2013

Dragging it out a bit isn't he?

Kneeza · Jun 25, 2013

There will be a lot of crossed fingers in (the) Coventry (area) at the moment.
However, should this be true, would Mr Appleton be allowed to carry on as the administrator of the smoking remnants of the Club?
Surely, as someone who can be easily identified as a complete failure in relation to the task that he was set, he too must be seen as 'not fit and proper'?

Or, as someone else said, is there a dire shortage of testes & backbone at the moment?
I think I know the answer....

torchomatic · Jun 25, 2013

While I think we all agree on this. It is probably more important what he in law was correct. PH4 himself said PA had done everything by the book. It just wasn't what we as fans wanted.

dadgad said:
Too TRUE.

He had a responsibility to make the BEST choice for the business going forward.

He clearly failed in this regard.

An abject dereliction of duty.

Godiva · Jun 25, 2013

Noggin said:
I don't really understand how you can come out of admin without a cva? surely if the creditors don't accept the agreement then you don't leave admin and instead face being liquidated? or am I miss understanding that? if thats the case the sisu probably would accept a cva (I know getting miles ahead of the situation here) as it's likely a bid would give them more money than liquidating would.

In this case there are only two real creditors - ARVO and ACL. The current bid is suggested to pay off ACL in full - all £650k, so that should leave ACL with no grounds for not accepting (there's the compensation on the remaining of the lease to complicate things, but for the argument say there isn't). So the current bid should mean an exit where all creditors accept the terms and conditions. No points penalty.

If Otium is not 'Fit and Proper' and - for the argument - no other sisu companies are acceptable, then the administrator can sell to another bidder like PH4. This is where sisu may get a bit annoyed and refuse to leave the administration with CVA. The sale will still be executed but the club will be 'rewarded' with a 15 point penalty.

Noggin · Jun 25, 2013

chiefdave said:
A CVA is basically what you're going to pay back. If the only creditor (apart from SISU related companies) is ACL and they are paying them in full I guess that removes the need for a CVA, or maybe there will be a CVA but the only people who need to agree it are SISU.

I'm saying if Otium are not fit and proper, there is another bid and we sell to them, people are saying we will get a 15 point deduction because sisu wouldn't accept a cva, im saying how can you come out of admin without a cva? as that means the creditors don't accept what you are willing to pay and so you would surely be liquidated, which means actually sisu probably would accept a cva or am I misunderstanding?

Kneeza · Jun 25, 2013

He may have done it 'by the book' but he didn't do it RIGHT (if, as the rumour goes, the FL will reject his findings).

skyblueman · Jun 25, 2013

I'd gladly take the 15 pts deduction to get rid of SISU

Guy on twitter claims to have a reply from league confirming Otium have been rejected (1 Viewer)

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