fernandopartridge
Well-Known Member
Spot on. The council use the term 'hedge fund' as if it's illegal.
It's like a legal battle between the Morning Star newspaper and Fox news.
Here comes the crunch! (1 Viewer)
- Thread starter grego_gee
- Start date
Spot on. The council use the term 'hedge fund' as if it's illegal.
It's like a legal battle between the Morning Star newspaper and Fox news.
fernandopartridge
Well-Known Member
Ha ha ha - were you saying this when you thought she was cheer-leading ACL's case a few weeks ago?
lordsummerisle
Well-Known Member
She probably changed her mind after the endless emails from VOR.
What makes you think those were my thoughts?
The only thing that could prevent Northampton happening is if ACL/CCC chase SISU with a deal that they can't refuse!imp:
You mean like playing at the Ricoh rent free whilst still in admin?
It's what the fans want and lets not forget, the customer is always right.
They can still go ahead with this 'new ground' malarky if they so wish surely...?
imp:If the CVA is not agreed CCFC Ltd will be liquidated including all debts and obligations - the only one being the Ricoh lease. Not signing the CVA is the surest way to determine that we won't be playing at the Ricoh any time soon. If it's signed there may be a willingness on both sides to negotiate.
grego_gee
New Member
You mean like playing at the Ricoh rent free whilst still in admin?
It's what the fans want and lets not forget, the customer is always right.
They can still go ahead with this 'new ground' malarky if they so wish surely...?
The offer of rent-free! (while in admin) was always nothing more than a cheap PR stunt!
A real offer would be for the freehold of the Ricoh or at least the stadium part of it and I believe SISU would be prepared to pay a fair price.
imp:
covcity4life
Well-Known Member
The offer of rent-free! (while in admin) was always nothing more than a cheap PR stunt!
A real offer would be for the freehold of the Ricoh or at least the stadium part of it and I believe SISU would be prepared to pay a fair price.
agreed on first point and hopeful on the later!
The offer of rent-free! (while in admin) was always nothing more than a cheap PR stunt!
A real offer would be for the freehold of the Ricoh or at least the stadium part of it and I believe SISU would be prepared to pay a fair price.
PR stunt or not. They'd have to act on it if the offer was taken up and is better than playing and paying at Sixfields.
Yes I agree that would be a great offer. I just can't see that happening with all the bad blood and mistrust between both sides.
It's about time they both stopped looking for gains for themselves and more on the future of what's really at stake, CCFC.
stupot07
Well-Known Member
Only ltd is in admin and it hasn't got any players, Appleton had already stated this as a reason for not taking ACL up on the offer.
Yes, he made a deal to play their the end of last season, but this was before he'd started his investigations or submitted his admin report to court stating what is and isn't within Ltd.
grego_gee
New Member
Priceless!
ACL issue statement in response to Nicki Sinclaire (its been added to the bottom of the original article)
An ACL spokesman said:
“The decision on whether or not to sign the CVA will be based on the ACL directors’ fiduciary responsibilities to the company.
"While Ms Sinclaire is entitled to her opinion, at no point in time has the council ever taken dividends or profits out of Arena Coventry Limited, which is run as an entirely independent business.
"Any profits in the past have been ploughed back into the business. Taxpayers do not stand to miss out in either scenario.”
Apparently their best defense is the council won't get a penny anyway!
I am not disputing any word of what they say, I'm sure its absolutely true! even though the council owns 50% of ACL!
Just Priceless! go figure!
imp:
ACL issue statement in response to Nicki Sinclaire (its been added to the bottom of the original article)
An ACL spokesman said:
“The decision on whether or not to sign the CVA will be based on the ACL directors’ fiduciary responsibilities to the company.
"While Ms Sinclaire is entitled to her opinion, at no point in time has the council ever taken dividends or profits out of Arena Coventry Limited, which is run as an entirely independent business.
"Any profits in the past have been ploughed back into the business. Taxpayers do not stand to miss out in either scenario.”
Apparently their best defense is the council won't get a penny anyway!
I am not disputing any word of what they say, I'm sure its absolutely true! even though the council owns 50% of ACL!
Just Priceless! go figure!
imp:
Last edited:
SkyBlueUkeman
New Member
I wish Nikki Sinclaire would just sod off. She's just using us as a vehicle for her own political gains.
TheRoyalScam
Well-Known Member
Its about as finely balanced as Humpty Dumpty!
From which particular fairy tale did you get "If ACL don't agree to the CVA then the Northampton deal is null and void"?
The FL agreed to the Northampton move to make sure the fixtures were fulfilled, it will go ahead regardless of the acceptance of the CVA or not.
The only thing that could prevent Northampton happening is if ACL/CCC chase SISU with a deal that they can't refuse!
'....their (the FL's) agreement is conditional on the club ultimately exiting administration in accordance with League’s conditions....'
Exiting administration by CVA - not liquidation.
lordsummerisle
Well-Known Member
Priceless!
ACL issue statement in response to Nicki Sinclaire (its been added to the bottom of the original article)
An ACL spokesman said:
“The decision on whether or not to sign the CVA will be based on the ACL directors’ fiduciary responsibilities to the company.
"While Ms Sinclaire is entitled to her opinion, at no point in time has the council ever taken dividends or profits out of Arena Coventry Limited, which is run as an entirely independent business.
"Any profits in the past have been ploughed back into the business. Taxpayers do not stand to miss out in either scenario.”
Apparently their best defense is the council won't get a penny anyway!
I am not disputing any word of what they say, I'm sure its absolutely true! even though the council owns 50% of ACL!
Just Priceless! go figure!
Strange, seems to knock the "ripping off the poor taxpayers" argument into touch, and again raises the question why did they have to try to force the club into admin over a sum that they apparently aren't bothered about?
Unless of course they wanted to engineer a "coup", whereby their preferred potential owner would get a chance to get the club on the cheap after distressing them through admin?
God forbid!
Mary_Mungo_Midge
Well-Known Member
Priceless!
ACL issue statement in response to Nicki Sinclaire (its been added to the bottom of the original article)
An ACL spokesman said:
“The decision on whether or not to sign the CVA will be based on the ACL directors’ fiduciary responsibilities to the company.
"While Ms Sinclaire is entitled to her opinion, at no point in time has the council ever taken dividends or profits out of Arena Coventry Limited, which is run as an entirely independent business.
"Any profits in the past have been ploughed back into the business. Taxpayers do not stand to miss out in either scenario.”
Apparently their best defense is the council won't get a penny anyway!
I am not disputing any word of what they say, I'm sure its absolutely true! even though the council owns 50% of ACL!
Just Priceless! go figure!
Do you have proof that the council has taken profits or a dividend then?
fernandopartridge
Well-Known Member
COMPLETELY different from Messrs Ainsworth and Cunningham or any act by any MP ever.
MP in 'doing something for political gain shock'
Mary_Mungo_Midge
Well-Known Member
The offer of rent-free! (while in admin) was always nothing more than a cheap PR stunt!
A real offer would be for the freehold of the Ricoh or at least the stadium part of it and I believe SISU would be prepared to pay a fair price.
Again, what proof do you have to back up this claim? I have seen nothing that gives me such confidence
Sky Blue Kid
Well-Known Member
You couldn't get your head as far up Septics' arse if you tried Gego-Gee.
fernandopartridge
Well-Known Member
The FL do not permit clubs to exit administration through any means other than a CVA?
lordsummerisle
Well-Known Member
Of course they do, just with a 15 point deduction if without a CVA.
People just seem to think that not accepting a CVA willm wave some sort of magic wand, get rid of Sisu and have us all living happily ever after at the Ricoh.
James Smith
Well-Known Member
If signing the CVA means that the murky finances of Ltd are not investigated then Don't Sign It ACL. We can't go on with current owners and the finances remaining un-researched.Nicki Sinclaire review
ACL can not afford to refuse the CVA. They either accept the CVA and get £590k or they refuse and get nothing.
They(ACL) were in so much financial trouble at the end of last year that Yorkshire bank (nearly) foreclosed their mortgage. In their last accounts for 11-12 when the full £1.3m rent was received from CCFC they made only £1m profit.
I also believe that they received £4m from sale of shares in IEC in that same year.
fernandopartridge
Well-Known Member
Seriously, to achieve what?
If it's to point out that some of SISU's practices are murky? Don't we know that already?
How would rejecting the CVA and then an investigation into what brought us here assist CCFC? Please explain.
chiefdave
Well-Known Member
Not sure people really think that. If the CVA is signed then that's the end of it, we're at Northampton and there's no further investigation into SISU. Refuse the CVA and who knows where we will start the season but the key point would be the management of the club by SISU would be investigated. For starters there's moving assets of of Ltd both before and during admin which surely warrants a closer look. Won't be a magic wand and could mean a lot of time in court but if it ultimately gets rid of SISU and gets the club back in it's home city surely worthwhile.
chiefdave
Well-Known Member
Depends on the results of the investigation but if, for example, they have been asset stripping Ltd then those assets can be returned to Ltd (with the added bonus of possible legal action against Joy and Tim). Once everything is as it should be the sale process could be done again however now the FL would have to rule out SISU as a possible owner of the GS so the sale would be to PK4 or any other interested party.
Broken Hearted Sky Blue
Well-Known Member
Ainsworth doesn't need to he's not standing again
Sky Blue Kid
Well-Known Member
@ summerisle... Correct on the first point...Second point is wrong. NOT signing the CVA means "Ltd" will be looked at far deeper than it has been. Hopefully(Not a certainty) shit can be found about "Untowards activities" (Allegedly) and if enough is found out should make FL/FA change their minds on SISU/Otium getting the GS, and NOT being "Fit and Proper" owners.
James Smith
Well-Known Member
To achieve what chiefdave wrote, and hopefully help get rid of SISU.
fernandopartridge
Well-Known Member
Paxman II
Well-Known Member
I guess an investigation if ever carried out on SISU's ownership and paper trails may be damaging but does anyone truly think they have acted unlawfully?
Rules are bent and misshaped continuously by companies to their benefit but usually within the law.
I don't think they will discover anything significantly damaging and the damage by not signing the CVA will be to the determent of the football club. people say what is SISU's agenda to distress ACL? Ha I believe the same could be said of ACL attempts if you just look for it...
Rules are bent and misshaped continuously by companies to their benefit but usually within the law.
I don't think they will discover anything significantly damaging and the damage by not signing the CVA will be to the determent of the football club. people say what is SISU's agenda to distress ACL? Ha I believe the same could be said of ACL attempts if you just look for it...
Grendel
Well-Known Member
It would achieve nothing but some people believe it's the only way of sticking two fingers up at SISU. It will mean no money for ACL, a 15 point reduction and no chance of ever returning to the Ricoh.
The notion there will be some big investigation to expose the "murky world" is a fantasy and comes from the same people who believed the Football League would stop the Northampton move in the first place.
James Smith
Well-Known Member
Potentially getting rid of Sisu not a good enough benefit for you?
stupot07
Well-Known Member
How long do you think the investigation will take? they would need to look all the way back to the company's inception in 1995.
D
Deleted member 5849
Guest
Genuine question, but if ACL or whoever have cause to believe something illegal has happened, and evidence to that effect... surely an investigation could be enacted regardless?
SkyBlueUkeman
New Member
That's a shite headline pal.