Invisble owner and chairman (5 Viewers)

1. Ms Seppala was the least satisfactory of all the witnesses. In making my general comments above, I said that no-one was deliberately lying. But I fear Ms Seppala has a distorted recollection of some events – particularly about what happened at the meetings in New York in January 2005 – and, with the benefit of hindsight, has introduced a "spin" (I am sorry not to be able to find a better word) which suits the Applicants' case. She is also prone to exaggerate – the Respondents would characterise it as lying, but I give her the benefit of the doubt on that – for instance her suggestion (eventually withdrawn by her) that Mr Wallace had "continually" represented to the Applicants that the RCF Banks had a strong direct claim against TXU Corp when in fact he never said that at all. She also recollects (and she may well have believed what she was saying) events which did not, as I conclude, take place (namely a conversation with Mr Wallace "in a small room" and Mr Olin reading and explaining a position paper in New York on 11 January 2005). She is, I am quite sure, an astute and effective business woman. I totally reject her description of herself as naïve. I am quite sure that she was closely involved in developments as the representative of SISU as a Committee Creditor. But she had many other business matters on her mind and when it came to producing her witness statement and giving her oral evidence, her recollection was not, I think, as accurate as she would like to make out".

skybluetony176 said:

They can't even put a name to anything. The clubs own statement regarding housing on Ryton said a club insider. WTF. That's something you write in a gossip column or a speculative article in a newspaper. If it's a statement from the club I don't think it's unreasonable to see it attributed to an individual in authority at the club, especially on something so important. Who was the insider? A groundsman? Doris the tea lady? It's facelessness of the highest degree.

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no_loyalty said:

Both on holiday in the Cayman Islands?

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AFCCOVENTRY said:

I alluded to this earlier in another post somewhere. Tim Fisher is not a full time chairman of CCFC. It's about 15-20-% of the time if not less. He gives all his time to CPMoksha risk advisory firm. Sisu are a private client of CPMoksha on portfolio advisory especially around risk and derivatives etc.

You will soon find out that the structure in place from Sisu to the club is so shocking.

Joy Seppala is the owner of CCFC. She oversees the various investment funds put into the pot for CCFC. There is no secret owner. It's Joy playing with other people's investments.

Fisher is just a face to put as a chairman of CCFC. The reality is that CCFC to him is a little project in the side of his main business. He is pointless and has no delegated authority.

Chris Anderson was here as an advisory. Again was hardly here. He has other business interests

The only person who was here 100% was Steve Waggott. But they couldn't afford his wages in the management structure anymore.

Sisu want advisory people not full time people at the club. Funnily you see this being reflected with the player mentality now of getting loan players.

The reality is there is nobody giving the time in looking after CCFC. So no wonder the stadium, academy etc makes no progress or people attend meetings.

The original investors in CCFC pulled out a long time ago and he second round of investors came in. Since then the downfall of CCFC has been in tandem.

Currently Sisu are looking for fresh investors which have not been forthcoming. Joy has in her head that she can still recover monies in this failed investment of CCFC.

The media esp CET need to do some more digging as there has been 1 official offer for CCFC at the start of the year but it was categorically rejected by Sisu. Sisu are wanting a stupid figure in the region of £20-30m. This won't happen in a million years for a club with no assets. They club is only worth £1 for the transfer of all the shares and someone taking on the debt. Joy will tell you the club's not for sale so that it doesn't invite offers. In football speak if you say the club's for sale that means they know you are in trouble and start bidding lower and lower. It's the opposite of a prime house in a decent location.

Anyhow, Seppala is still looking for an investor or two to help the fund going for CCFC. The pot has gone dry and they can't carry on much longer. Bloody Brody keeps flying over because he has made no return on his nominal investment that he was promised by Seppala.

There was a hint in the interview with Bigi's agent that unless an investor comes then Bigi might stay. The reality is from next season the budget and investment in CCFC will be a lot less than this year. We won't be able to afford to keep Bigi who is on peanuts at the club right now.

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georgehudson said:

serious stuff afc, what can we, CCFC fans, not myopic cronies, do to hasten their exit

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Nick said:

Who made the offer

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Nick said:

Very dangerous saying to kill the club isn't it? Do you mean to get it liquidated?

How would your mate in the city get all of that info?

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AFCCOVENTRY said:

No not get liquidated, but show Sisu it's not worth their time anymore.

As long as fans keep coming and spending money they have something to hold onto. There's nothing left of the club apart from the fans.

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Nick said:

Have you got a new source now? Or is your mate still digging?

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StevieM said:

The problem is with the existing fans trying to withold cash, i.e.NOPM is that probably the bulk of the turn out to games this time around are season tickets, for which I am assuming, the club will have had the cash already.
Other than the sale of shirts, again I would have thought those that want one will already have parted with their cash, then I don't see too many fans exactly throwing money over the counter for beer and pies, most seem to already to be boycotting that aspect..it's too fecking expensive any way.
So how can we, the fans starve SISU of their much needed cash, it's a tough one for sure?

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AFCCOVENTRY said:

I know someone close enough to the club's antics and I work in the financial world to know enough people who specialise in hedge fund analysis.

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Kingokings204 said:

Is this the one BHSB was on about earlier?

Clearly Hoffman back for another stab especially if richard keys has been public recently which he has.

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oucho said:

Anyone else noticed how little we have seen or heard from TF recently? Without making this personal, with all the shit thst has been flying you'd think the msin man would be doing the media rounds to reassure fans and try to come across in a positive light. But he's been invisible. Two anonymous press releases today, no acknowledgment of thr CT csmpaign or petition, where is the charm offensive?

Or am i expecting too much from the big guy???

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wingy said:

Wonder if the offer was made around the time the Stadium talks broke down, wink wink.

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Rusty Trombone said:

I think to have a successful campaign against SISU you have to target Seppala and Fisher, make it uncomfortable for them. Keep reminding people about a judge's view on Seppala, as below.

"I have no doubt that all of the witnesses who gave oral evidence are honest people, none of whom is deliberately lying or attempting to mislead the court except that I do have some reservation in the case of Ms Seppala.

1. Ms Seppala was the least satisfactory of all the witnesses. In making my general comments above, I said that no-one was deliberately lying. But I fear Ms Seppala has a distorted recollection of some events – particularly about what happened at the meetings in New York in January 2005 – and, with the benefit of hindsight, has introduced a "spin" (I am sorry not to be able to find a better word) which suits the Applicants' case. She is also prone to exaggerate – the Respondents would characterise it as lying, but I give her the benefit of the doubt on that – for instance her suggestion (eventually withdrawn by her) that Mr Wallace had "continually" represented to the Applicants that the RCF Banks had a strong direct claim against TXU Corp when in fact he never said that at all. She also recollects (and she may well have believed what she was saying) events which did not, as I conclude, take place (namely a conversation with Mr Wallace "in a small room" and Mr Olin reading and explaining a position paper in New York on 11 January 2005). She is, I am quite sure, an astute and effective business woman. I totally reject her description of herself as naïve. I am quite sure that she was closely involved in developments as the representative of SISU as a Committee Creditor. But she had many other business matters on her mind and when it came to producing her witness statement and giving her oral evidence, her recollection was not, I think, as accurate as she would like to make out".

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ccfcway said:

the fans would welcome the club owners to actually say something

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