Official - we are in administration already (3 Viewers)
- Thread starter Baginton
- Start date
ccfclinney
Well-Known Member
You have to remember 30m of the 60 was took on when they took over the club.
oldskyblue58
CCFC Finance Director
sorry but no it wasnt
WillieStanley
New Member
Where did the £30m go? I know Robinson write off a debt... but not that much!!
SonofErnie
Well-Known Member
Surely the league is the main arbiter of where the golden share is held and they have categorically stated it's with CCFC Ltd. if not SISU have moved it without permission. Either way SISU lose !
A couple of things. I havent got a clue how they have got to £60m, sounds ridiculous. The figures everyone wants to know is how much SISU are actually owed, whether this is debt or equity investment, how much ARVO have invested (sounds like its £8.4m) and whether this is fully secured.
The lack of transparency is frightening. I dont believe the figures they are quoting unless there are huge management charges, pay offs etc. It would be up to an Administrator/Nominee of a CVA to conclude the voting values of all parties. I believe ACLs final claim could justifiably be tens of millions as mentioned above
Either way the Administrators job is to maximise realisations ie accept the best offer available for all creditors.
The lack of transparency is frightening. I dont believe the figures they are quoting unless there are huge management charges, pay offs etc. It would be up to an Administrator/Nominee of a CVA to conclude the voting values of all parties. I believe ACLs final claim could justifiably be tens of millions as mentioned above
Either way the Administrators job is to maximise realisations ie accept the best offer available for all creditors.
oldskyblue58
CCFC Finance Director
2008
They wrote off £35m. They took over 16.5m creditors (which i think included £6m owed to GR etc if we got promoted to premiership which has also now been written off ) and against that took over £7.9m in assets then topped up with cash of £930k
as it turned out their initial investment was probably netted down to £3.5m
They wrote off £35m. They took over 16.5m creditors (which i think included £6m owed to GR etc if we got promoted to premiership which has also now been written off ) and against that took over £7.9m in assets then topped up with cash of £930k
as it turned out their initial investment was probably netted down to £3.5m
Broken Hearted Sky Blue
Well-Known Member
WillieStanley
New Member
Yes, it is so easy to lose the perspective in this mess of facts, half-facts and made-up's.
grego_gee
New Member
- CCFC will survive
- 10 pts this year
- the onerous rent deal will be gone,
- and maybe the AVRO debt will be gone too....!!!! ???
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