High Court Match Thread (3 Viewers)

[oldskyblue58]

It was mentioned that next seasons ticket sales have already been borrowed against by Sisu.
Has Ryton got a mortgage against it or an Arvo charge which is the same thing its been borrowed against.
With these things in mind both ccfc ltd and ccfc holdings must both be working insolvent !!

The ryton land is included in the ARVO charge SBJ

 

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[Pete in Portugal]

The ryton land is included in the ARVO charge SBJ

OSB - Am I right in thinking that ARVO are 'preferential' creditors, (compared to ACL), because of the nature of this 'charge'? And that this means that the Administrator is duty bound to act in the interests of ARVO, which is more or less owned/controlled by SISU?

 

[oldskyblue58]

ARVO are secured creditors. The administrators should act in best interests of all creditors but as appointed by ARVO will look to protect their interests within the duties he has. Being secured then ARVO gets first claim on any assets listed, including any debtors, land, leases, money etc

 

[Sky Blues]

ARVO are secured creditors. The administrators should act in best interests of all creditors but as appointed by ARVO will look to protect their interests within the duties he has. Being secured then ARVO gets first claim on any assets listed, including any debtors, land, leases, money etc

OSB didn't you see a list of the ARVO secured items? Was the Golden Share on it?

 

[Mary_Mungo_Midge]

If Haskell can't afford to buy the club without admin why is everyone getting so excited about him?

Maybe it's nothing to do with money, but he (or any interested party for that matter) feels that to buy from SISU, or their chosen administrators, would be a frustrating exercise akin to juggling soot; whereas more candid and meaningful administrator would be easier to complete the transaction through?

 

[Sky Blues]

Time for kick-off should be about now. The High Court is a sell out apparently. Standing room only.

 

[covcity4life]

has anyone got a live stream?

 

[Danceswithhorses]

has anyone got a live stream?

telegraph blog ok ?

http://www.coventrytelegraph.net/news/coventry-news/2013/03/26/92746-33058077/?

 

[1nilandwe...]

I think I'm as nervous as I was before Bristol City away last season.
And we all know how that turned out. Gulp.

 

[covcity4life]

acl move for dismissal of admin order for ccfc ltd

 

[Sky Blues]

ACL open play by applying to dismiss admin order against CCFC Ltd, tweets Les Reid.

 

[covcity4life]

they are happy with administraters already in place it seems

 

[ccfc92]

Time for kick-off should be about now. The High Court is a sell out apparently. Standing room only.

Terracing, Yayyy

 

[Sky Blues]

Sky Blue Trust secretary Moz Baker tweets case won't be heard until 2pm. Break?

 

[covcity4life]

adjourned till 2

WHAT A FIRST HALF THAT WAS,FLEW BY

 

[hutch1972]

Adjourned untill 2pm

 

[Sky Blues]

Will discuss costs at 2pm, tweets Les Reid.

Was it ever thus in this dispute.

 

[Sky Blues]

adjourned till 2

WHAT A FIRST HALF THAT WAS,FLEW BY

Who has the oranges?

JS, TF and ML no show according to Moz Baker.

 

[hutch1972]

Still no cast iron or official info on the FL share.

 

[ccfc92]

adjourned till 2

WHAT A FIRST HALF THAT WAS,FLEW BY

Summary?

 

[chiefdave]

Still no cast iron or official info on the FL share.

Will we get that from the court? If ACL are basically withdrawing their application to put CCFC Ltd into admin as SISU have already done it then that's it as far as the courts are concerned isn't it? Anything else will be down to the FL I would imagine.

 

[Sky Blues]

Second half expected to last 90mins to 2 hours, according to CWR tweet.

Bit excessive if just discussing costs?

 

[ccfchandsy]

So does that mean both ccfc ltd and holdings are in admin

 

[chiefdave]

Second half expected to last 90mins to 2 hours, according to CWR tweet.

Bit excessive if just discussing costs?

Must be more than costs then I would have thought. If ACL brought the case then asked for it to be dismissed I can't see anyone but them being liable for costs, wonder what will take 2 hours?

 

[SonofErnie]

Adjourned until 2pm to allow costs to be discussed between parties. Length of 2nd half suggests it may be the CCFC holdings part of the company that will be under dicussion?

 

[sw88]

I'm confused !!!

 

[hutch1972]

Who has the oranges?

JS, TF and ML no show according to Moz Baker.

Thats because i think JS is really TF but only in the privacy of his own home

 

[Sky Blues]

So does that mean both ccfc ltd and holdings are in admin

I'm guessing that means ACL think the golden share being in CCFC Ltd and not CCFC Holdings basically means the former is not a non-trading subsidiary as we were told by the club, but an active company that is now out of the direct control of Sisu. I.E. They now have someone they can deal with in charge of what might be considered the more important of the two companies.

 

[SonofErnie]

Does golden share go along side the player registrations ?

 

[ccfchandsy]

I'm guessing that means ACL think the golden share being in CCFC Ltd and not CCFC Holdings basically means the former is not a non-trading subsidiary as we were told by the club, but an active company that is now out of the direct control of Sisu. I.E. They now have someone they can deal with in charge of what might be considered the more important of the two companies.

Nope still confused !!!!!!!

 

[Ccfcsj]

Can someone summarise this all in plain English as reading this is confusing me?

 

[Sky Blues]

Half-time interview: ACL lawyer tells Les Reid ACL will focus on the administrator (the Sisu appointed one) "undertaking their duties" with a view to a takeover.

 

[Delboycov]

Adjourned until 2pm to allow costs to be discussed between parties. Length of 2nd half suggests it may be the CCFC holdings part of the company that will be under dicussion?

Costs that will probably run into hundreds of thousands? What was the point of that?! I wonder what the difference in the amount of cash all this legal fighting has cost SISU and what they would've got away with in rent...Madness.

 

[MusicDating]

"Les Reid ‏@Lesreidpolitics 2m
BREAKING (more)..But he said #ACL would focus on #CCFC's administrator "undertaking their duties", with a view to a takeover @covtelegraph
Expand
BREAKING: #ACL lawyer James Powell tells me it accepts #CCFC #sisu / Arvo appointed administrator P.Appleton should remain"

Is it hoping too much that this means -10pts this season, and both sides can focus on Davis Love III taking over?...

 

[MusicDating]

More from #ACL lawyer James Powell: "We had a letter from Football League confirming share is with #CCFC Ltd." ... (1of3)