I did mean Holdings ... sorry.
Still, allegations are not proof.
Fisher could not move assets, it would require at least the corporation with the accountants, the finance director and possibly the auditors.
Somebody inside the group and below top management would know - and tell somebody else. It would spread wide and fast, and it hasn't.
If ACL block the CVA the administrator would liquidate the company that has the rental agreement and as such the club will remain as is without a home ground?
I wouldn't count on a 'sisu-free' future even if ACL rejects the CVA.
Holdings still own the players and this 'beneficial ownership' is an unkonwn factor noone should dismiss.
I think the outcome of a non-CVA would be that the FL will still grant the golden share to Otium.
Limited will be liquidated - and that would probably happen anyway.
The club will start at -15 point but seeing the core of the squad is still there and with a few exciting additions we would probably end in a similar position to last season (where we lost 10 points).
The only real loser would be ACL.
...which brings me back to speculating if the FL would then prefer a ready made solution in a new owner of ACL/Ricoh buying the preferred liquidated stock (as in players) to set up a newly named club that can fulfill fixtures at the Ricoh. If it happened I think te new owners would have a bumper attendance (honeymoon period) of 20-25k for 5 or so home games. Then a reality check would be needed, as we settle into the more familiar 12k in L1 if we are holding our own.
The beneficial ownership is the real issue and could be their undoing.
The can't have it both ways, if they claim beneficial ownership of the golden share, then ACL could argue they by default they have beneficial ownership of the Ricoh lease and so it goes on. Like I say they surely can't make that rule work one way only, or can they.
One of the scenarios that could play out is ACL block the CVA.
Could one of the outcomes therefore be that PH4 buys the stadium and the liquidated club starts a few divisions down in 1 year years? Conference perhaps based on our size?
Joe Elliott did say this week that PH4 remains keen.
Would people prefer this mess to the current mess? A whole year with no ccfc but losing Sisu and a fresh debt free start?
But it's not up to the FL, is it? They have no legal right to interfere in the administration proces. They can only await the decisions of the administrator and then decide where the golden share should go. If ACL decline the CVA and the administrator liquidate the company, there's nothing the FL can do about that. What they - or their management - personally prefer is totally irrelevant. They will be left with the choice of granting Otium the golden share or retain it until they deem Otium fit to receive it.
But it's not up to the FL, is it? They have no legal right to interfere in the administration proces. They can only await the decisions of the administrator and then decide where the golden share should go. If ACL decline the CVA and the administrator liquidate the company, there's nothing the FL can do about that. What they - or their management - personally prefer is totally irrelevant. They will be left with the choice of granting Otium the golden share or retain it until they deem Otium fit to receive it.
Btw...I believe I have made no suggestion the FL would prefer this or any other option than keeping their fixture list neat & tidy...fixtures fulfilled as-in. So they may not be so capitulating to SISU/PA after tomorrow if there is a firm contingency plan with an agreement in place having all i's dotted & t's crossed...simply awaiting a few pre-agreed signatories.
And what might that contingency plan be?
If doesn't originate from Appelton or Holdings/Otium it will have no relevans to FL.
If ACL reject the CVA, next move will come from Appelton, and it would likely be liquidation, but only after the cooling off period.
The only real contingency plan I can see would work, would be ACL agreeing to the CVA on the premiss that the club stays at the Ricoh for the next three years at a much reduced rent.
I'm not prepared to endure that at all and anyone that wants that is affectively wanting the club to die and take its history with it
I don't even see that contingency plan. Merely suggesting that if Hoff, Joe, PH4 have done their homework well & negotiated quietly behind the scenes with PA - a better & pheasable alternative. It would be preferred by the FL to either liquidation orthe existing Otium option.
I don't even see that contingency plan. Merely suggesting that if Hoff, Joe, PH4 have done their homework well & negotiated quietly behind the scenes with PA - a better & pheasable alternative. It would be preferred by the FL to either liquidation orthe existing Otium option.
Yes, sisu could sell the contracts to new owners, but they will not! Have we not yet learned that they are NOT selling anytime soon?
The will play the 'beneficiary ownership' card and nobody fully knows what that means. All everyone know is if the FL decide to ignore it, then they will hear from sisu's lawyers pretty fast.
If ACL block the CVA the administrator would liquidate the company that has the rental agreement and as such the club will remain as is without a home ground?
do they have to reject it out of hand or would they say "we dont have enough info on the CVA" and get it adjourned or not approved subject to getting the info ?
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