Liquidation ? (1 Viewer)

[rupert_bear]

The "L" word has been mentioned again this time though by administrator Paul Appleton so we have to take it seriously but what exactly does it mean ? Yes i know liquidation is the winding up of an insolvent business, but i have questions first is there a period once a business is wound up it can be saved, i thought i read a bit back there is a 28 day window to salvage it. Also if it can be salvaged who holds the aces this time, sisu again or any would be new buyer,and who decides who can have it and on what basis.
I seem to rememer the Trust a bit back making moves to acquire the name Coventry City should liquidation happen.
Anybody out there wiser than me ?

 

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[simple_simon]

I think you mean Limited?

 

[rupert_bear]

Well it is ltd that would be liquidated but that is the football club so if it's liquidated ??

 

[wingy]

Well it is ltd that would be liquidated but that is the football club so if it's liquidated ??

You're forgetting that PA stated last week that he has sold the rights to assets within LTD to Otium,Stressing "Only as they claim beneficial ownership of those assets", Here comes the litigation ,or not.

 

[pugwash]

Yeah, I'm not really sure how the administrator can sell assets when he is trying to keep Ltd as a going concern. Without the GS, they have no means to generate any revenue .... my guess is that ACL are looking into whether they can legally challenge this. If ACL block the CVA and PA were to decide that liquidation is the only option, then presumably the FL would retain the GS (so may acronyms!) and deal with the other bidders (who presumably would have a suitable venue lined up and would just need some players). Wishful thinking, but it's the only way I can see us not playing in Northampton this season.

 

[Sky Blue Dal]

Liquidation is also on the cards for Otium too. Only a matter of time. If they think they are going to build a new £30M stadium without making huge losses need to think again.

There are many factors involved, like they have taken into account that they will take a hit for 3 years in losses and then they forget to mention when CCFC do move into the new stadium, it will be another additional 5 years approx loses before they manage to financially stabilise the club , which is normally what all clubs go through when they build new stadiums, that is totalling to possibly 8 years of heavy losses. Can SISU/Otium abstain this?

Also how many time have we heard of building projects estimated to cost £60m end up becoming a resulting final cost of £90M or £100M.

Sorry for being negative but that's how I see it.