In full: Appleton's report to the High Court (1 Viewer)

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Sky Blues

Sky Blues

Active Member
if CCFC Ltd owns the players' registrations (and ownership of the Golden Share suggests to me it should) then, if I am reading this correctly, the squad has a book value £466,742.

Not very much is it?
 
Sky Blues

Sky Blues

Active Member
Brighton Sky Blue said:
The key bit for me is where it says 'We will likely recommend liquidation or a CVA'.
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Yes, I read that bit a couple of times. I guess it comes down to whether someone wants to buy us - and Ltd having the Golden Share helps. Sisu might need to buy the company to obtain it (if their beneficial ownership claim fails) or it gives the administrator an asset someone else might want to buy.
 
W

wingy

Well-Known Member
It means SISU are exposed to hostile takeover ,admitted unwitingly by Fisher in yesterdays interview ,while attempting to play down any value inLTD.
 
Q

quinn1971

Well-Known Member
wingy said:
It means SISU are exposed to hostile takeover ,admitted unwitingly by Fisher in yesterdays interview ,while attempting to play down any value inLTD.
Click to expand...

Thought the same. He was trying too hard to prove there is nothing in ltd.it was the bit when he said" whoever buys it should keep the receipt" they've ran out of ideas...times up fisher
 
B

Brighton Sky Blue

Well-Known Member
wingy said:
It means SISU are exposed to hostile takeover ,admitted unwitingly by Fisher in yesterdays interview ,while attempting to play down any value inLTD.
Click to expand...

The same interview where he said the accounts weren't entirely true?
 
W

wingy

Well-Known Member
Brighton Sky Blue said:
The same interview where he said the accounts weren't entirely true?
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Yeah those accounts.
PWKH seemed to think there is a gaping hole between those presented June 12 and what ADMIN found March13.
Seems somethings missing from the Sisu end .
Could Otium facing being struck off then not being struck off cloud anything here??
 
S

SkyblueBazza

Well-Known Member
Brighton Sky Blue said:
The same interview where he said the accounts weren't entirely true?
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I meant to ask last night...is TF making a public admission that they have falsified accounts? Or just that they have deliberately provided an Officer of Court with false documentation/accounts? Or what? TF please explain!
 
B

Brighton Sky Blue

Well-Known Member
wingy said:
Yeah those accounts.
PWKH seemed to think there is a gaping hole between those presented June 12 and what ADMIN found March13.
Seems somethings missing from the Sisu end .
Could Otium facing being struck off then not being struck off cloud anything here??
Click to expand...

I'd like to know how ARVO is owed £11m for seemingly providing nothing tangible.
 
B

Brighton Sky Blue

Well-Known Member
SkyblueBazza said:
I meant to ask last night...is TF making a public admission that they have falsified accounts? Or just that they have deliberately provided an Officer of Court with false documentation/accounts? Or what? TF please explain!
Click to expand...

If true there is something very wrong indeed!
 
B

Broken Hearted Sky Blue

Well-Known Member
O dear o dear o dear Joy I told you my four year old twin nieces were available to run the club too late now theyre going to school suggest you get Timmy to join the class he can play in the sandpit:jerkit:
 
olderskyblue

olderskyblue

Well-Known Member
Point 4 could have been written by SISU. The rent was inherited by them, and clearly due diligence didn't see it as a problem, but it seems it now has a highly damaging effect on the long term viability of the company. Nothing about the huge management charges from ARVO then?

Worrying bit is about the rules of the FL confer a wide discretion whether any transfer of the golden share should be registered.
 
G

Godiva

Well-Known Member
Having read that I have to say there is nothing new or extraordinary.
A lot is 'standard legal stuff' which you can find almost word-for-word in similar court statements.

Most significant word is 'ongoing'.
 
G

Godiva

Well-Known Member
SkyblueBazza said:
I meant to ask last night...is TF making a public admission that they have falsified accounts? Or just that they have deliberately provided an Officer of Court with false documentation/accounts? Or what? TF please explain!
Click to expand...

I would think he meant that most of the balance contains 'intercompany' debts. Which is of no real value.

The 'real' numbers are ACL debts, player registration, prepayments ... and the ARVO debenture.
 
TheRoyalScam

TheRoyalScam

Well-Known Member
So CCFC Ltd have debts of £70m to other Sisu entities (including less than £1m owed to ACL), yet TF says we've 'moved on' from the problems of paying rent at the Ricoh and will groundshare for a minimum 3 years (at least halving income and losing at least c£12m) while building a new stadium (minimum cost £20m) outside the Coventry City boundary.

It doesn't make any sense whatsoever.

SISU were only interested in acquiring the Ricoh on the cheap, and CCCouncil called their bluff.

The next couple of weeks should be very interesting.
 
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