Just a heads up (1 Viewer)

oldskyblue58 · Nov 1, 2013

Couple of things that have been filed at Company house.

First off the Sky Blue Sports & Leisure group accounts have been filed. They are noted as received but not yet available to download

The mortgage charges taken out by ARVO and SBS&L over CCFC H have been cancelled

No accounts have yet been filed for CCFC H (none are even marked as received). Still part of SBS&L group so will wait see if any get filed

I am guessing but I think CCFC H now has no assets so will be wound up. Will wait and see. CCFC H has the B class shares given to the supporter shareholders when SISU took over. If CCFC H is wound up I assume those will disappear

hill83 · Nov 1, 2013

play_in_skyblue_stripes · Nov 1, 2013

What is your insight or assumptions of the consequences OSB ?

I know trying to predict SISU is almost impossible.

italiahorse · Nov 1, 2013

Do they need to publish closing accounts for a company being wound up ?

oldskyblue58 · Nov 1, 2013

Cant second guess what will be in the accounts to be honest

If I were in the SISU position I would be liquidating both CCFC Ltd and CCFC H. Companies in liquidation do not have to file accounts. Not saying there is or isnt anything to hide but no accounts publically available means a lot less questions.

If CCFC H goes then the tenuous link that some supporters had in shares of CCFC H and therefore the club go too.

All part of a "tidying up" exercise. But in essence we are back where we started before SISU got here in 2008 in terms of structure. There is a holding company SBS&L (was CCFC H before SISU) and an operating company Otium (was CCFC Ltd before SISU).............. we are back to where we started in 1995 in terms of structure of the Group.

lewys33 · Nov 1, 2013

Im not sure I am quite getting this ........ so Otium is now CCFC? CCFC Ltd. and Holdings to be liquidated?

oldskyblue58 · Nov 1, 2013

lewys33 said:
Im not sure I am quite getting this ........ so Otium is now CCFC? CCFC Ltd. and Holdings to be liquidated?

no the structure before SISU was CCFC H owned CCFC Ltd ............... the structure now is SBS&L owns Otium ............... just the same format

Am guessing that Holdings will be liquidated .... CCFC Ltd is already in that process

alphapappa · Nov 1, 2013

Does this mean they are gong to have yet ANOTHER 10 points deducted?

Or will the usual suspects say itis all the nasty councils fault again?

RPHunt · Nov 1, 2013

So, you can strip assets from company A and put them into company B. Then liquidate company A leaving its creditors with nothing and you don't have to file accounts.

You can then move all the assets from company B into company C, liquidate company B and you don't have to file accounts.

Any evidence of fraud or illegality is therefore eliminated. No wonder there is clamour for the law to be reformed.

Warwickhunt · Nov 1, 2013

oldskyblue58 said:
no the structure before SISU was CCFC H owned CCFC Ltd ............... the structure now is SBS&L owns Otium ............... just the same format

Am guessing that Holdings will be liquidated .... CCFC Ltd is already in that process

different trough same food

AJB1983 · Nov 1, 2013

Please correct me if I'm wrong but couldn't this 'tidying up' have happened without the admin and all the legal wrangles, which effectively stitched acl up?
Especially essing as the structure is exactly as it was before...just proves what this was all about doesn't it, and it wasn't rent

Monners · Nov 1, 2013

Thanks OSB. I suspect the FL may have seen this as an option that Sisu could pursue and therefore used as an excuse to sit back and do nothing. Tells me that acquiring the Ricoh and more debt dumping (a non technical term) is next up. Should make the proposed talks interesting

skybluetony176 · Nov 1, 2013

RPHunt said:
So, you can strip assets from company A and put them into company B. Then liquidate company A leaving its creditors with nothing and you don't have to file accounts.

You can then move all the assets from company B into company C, liquidate company B and you don't have to file accounts.

Any evidence of fraud or illegality is therefore eliminated. No wonder there is clamour for the law to be reformed.

i think that process in itself is illegal, thats assuming that there are debts in the companies that have been asset stripped and liquidated.

Monners · Nov 1, 2013

AJB1983 said:
Please correct me if I'm wrong but couldn't this 'tidying up' have happened without the admin and all the legal wrangles, which effectively stitched acl up?
Especially essing as the structure is exactly as it was before...just proves what this was all about doesn't it, and it wasn't rent

Interesting point - good way to break the lease agreement also, but I suspect the process explainded by OSB explains why Sisu jumped into the admin process before ACL, and ACl's refusal to accept the CVA.

shmmeee · Nov 1, 2013

AJB1983 said:
Please correct me if I'm wrong but couldn't this 'tidying up' have happened without the admin and all the legal wrangles, which effectively stitched acl up?
Especially essing as the structure is exactly as it was before...just proves what this was all about doesn't it, and it wasn't rent

I don't think any serious person ever questioned that.

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