preferred bidder is sisu (1 Viewer)

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Nonleagueherewecome

Nonleagueherewecome

Well-Known Member
covmark said:
Gangsters??? Are you on drugs, what did you expect to happen? Haskell riding naked through Coventry waving a blank cheque in his hand. Stop being a drama queen
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Stop being a fuckwit.
 
Nonleagueherewecome

Nonleagueherewecome

Well-Known Member
theferret said:
Do I, where? Please point me in the direction of where I display even the slightest hint of delight, you prize a c**t.

My point, if you would take your head out of you sanctimonious backside for once and read what I said, was simply that commercial pressures on both sides will mean we will stay in Coventry. A good thing no? Or perhaps deep down what you really want is SISU to take us to Walsall so that you can come of here frothing at the gills and work yourself into an anti-SISU frenzy for the next 3 years.
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No, I want SISU out of our club, you prize pillock.
 
duffer

duffer

Well-Known Member
Hold up a moment here. I don't want to give anyone false hope, but I think this is a long way from done.

First off there's a bidding process, as I understand it. And ACL have got some weight here as they are the major unconnected creditor (that is they're the only debtor that has no links to CCFC Ltd).

So if CCFC Ltd want to exit Admin with a Company Voluntary Arrangement I think they might need ACL to vote to accept it.

Even if that fails, ACL can challenge the CVA decision in court if it is unfairly prejudicial to their interests, which it probably is if SISU's plan is to move away from the Ricoh.

The lease isn't broken by Administration, only liquidation or an agreement by ACL can do that. If CCFC Ltd isn't being liquidated then the contract remains.

So don't go slitting your wrists yet guys. This is Coventry City, when was the last time we did anything the easy way? ;)
 
R

RoboCCFC90

Well-Known Member
duffer said:
Hold up a moment here. I don't want to give anyone false hope, but I think this is a long way from done.

First off there's a bidding process, as I understand it. And ACL have got some weight here as they are the major unconnected creditor (that is they're the only debtor that has no links to CCFC Ltd).

So if CCFC Ltd want to exit Admin with a Company Voluntary Arrangement I think they might need ACL to vote to accept it.

Even if that fails, ACL can challenge the CVA decision in court if it is unfairly prejudicial to their interests, which it probably is if SISU's plan is to move away from the Ricoh.

The lease isn't broken by Administration, only liquidation or an agreement by ACL can do that. If CCFC Ltd isn't being liquidated then the contract remains.

So don't go slitting your wrists yet guys. This is Coventry City, when was the last time we did anything the easy way? ;)
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Well said that man!
 
fernandopartridge

fernandopartridge

Well-Known Member
duffer said:
Hold up a moment here. I don't want to give anyone false hope, but I think this is a long way from done.

First off there's a bidding process, as I understand it. And ACL have got some weight here as they are the major unconnected creditor (that is they're the only debtor that has no links to CCFC Ltd).

So if CCFC Ltd want to exit Admin with a Company Voluntary Arrangement I think they might need ACL to vote to accept it.

Even if that fails, ACL can challenge the CVA decision in court if it is unfairly prejudicial to their interests, which it probably is if SISU's plan is to move away from the Ricoh.

The lease isn't broken by Administration, only liquidation or an agreement by ACL can do that. If CCFC Ltd isn't being liquidated then the contract remains.

So don't go slitting your wrists yet guys. This is Coventry City, when was the last time we did anything the easy way? ;)
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3rd party creditors are being paid in full according to someone else in this thread.
 
mattylad

mattylad

Member
dufer said:
Hold oment here. I don't want to givyone false hopit I think this is a long way from done.

First off there's a bidding process, as I understand it. And ACL have got some weight here as they are the major unconnected creditor (that is they're the only debtor that has no links to CCFC Ltd).

So if CCFC Ltd want to exit Admin with a Company Voluntary Arrangement I think they might need ACL to vote to accept it.

Even if that fails, ACL can challenge the CVA decision in court if it is unfairly prejudicial to their interests, which it probably is if SISU's plan is to move away from the Ricoh.

The lease isn't broken by Administration, only liquidation or an agreement by ACL can do that. If CCFC Ltd isn't being liquidated then the contract remains.

So don't go slitting your wrists yet guys. This is Coventry City, when was the last time we did anything the easy way? ;)
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nope they have no say and have royally bum fukced us all through thier greed, squabbling and childish behaviour
 
duffer

duffer

Well-Known Member
fernandopartridge said:
3rd party creditors are being paid in full according to someone else in this thread.
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Possibly so, but that doesn't change the fact that ACL can vote against the CVA and go to court to challenge the decision if they think it unfairly prejudices their interests.
 
mattylad

mattylad

Member
duffer said:
Possibly so, but that doesn't change the fact that ACL can vote against the CVA and go to court to challenge the decision if they think it unfairly prejudices their interests.
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no they cant they are owed a pittance
 
cloughie

cloughie

Well-Known Member
I doubt that haskel4 would have expected any different outcome if he is savy about these situations

So i would expect some sort of either offer to sisu, er sorry otium or he is prepared for a expensive court case if he wants the club
 
Nonleagueherewecome

Nonleagueherewecome

Well-Known Member
covmark said:
Gangsters, really???? A little ott perhaps
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It's a common phrase used to describe corporate racketeers who exploit every legal loophole going. I am not asserting that Tim is actually Fat Tony by night.
 
bigfatronssba

bigfatronssba

Well-Known Member
Presumably then sisu will buy back Ltd, then they will have to formally leave the Ricoh. At that point then what is to stop acl suing Ccfc Ltd?
 
duffer

duffer

Well-Known Member
And it's not clear that the Football League has agreed to it either, is it?

"This offer allows me to achieve the purpose of the Administration and, following discussions with the Football League, I am hopeful a completion of the sale can be achieved as swiftly as possible."

Think that can be read more than one way.
 
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J

jas365

Well-Known Member
This is the risk assessment of Otium from the accounting software I use:

Credit Rating is Suspended

Accounts filing is late.

This company has had a dissolved warning issued by Companies House which has now been discontinued
 
MatthewWallis

MatthewWallis

Well-Known Member
duffer said:
And it's not clear that the Football League has agreed to either, is it?

"This offer allows me to achieve the purpose of the Administration and, following discussions with the Football League, I am hopeful a completion of the sale can be achieved as swiftly as possible."

Think that can be read more than one way.
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I await the day to wake up to the headline "Football League block Coventry City take over"

but of course that means that they actually do something about SISU, which wont happen until the day that pigs can fly
 
J

jon92

New Member
duffer said:
And it's not clear that the Football League has agreed to either, is it?

"This offer allows me to achieve the purpose of the Administration and, following discussions with the Football League, I am hopeful a completion of the sale can be achieved as swiftly as possible."

Think that can be read more than one way.
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The football league still have to investigate the company over funds and business practice
 
Si80

Si80

Well-Known Member
duffer said:
And it's not clear that the Football League has agreed to it either, is it?

"This offer allows me to achieve the purpose of the Administration and, following discussions with the Football League, I am hopeful a completion of the sale can be achieved as swiftly as possible."

Think that can be read more than one way.
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Can it? It reads to me like the FL have already given the nod.
 
J

japandy

New Member
Can I pick up your dummies?

I am proud to hail from the City of Coventry.

I am proud our fore-fathers fought again injustices in the world especially in the Second World War, and then we forgave and moved on.

I am proud our great city has had more inventors than any place on Earth live within its walls.

I am proud of Lady Godiva who fought even her own husband to fight unfair taxes on the City's citizens.

So how will history view this pathetic outpouring of childishness? I feel ashamed that many on here call themselves CCFC fans and react, without hearing a word from OTIUM and their vision, like pansies. Get a grip.

So you don't want to support us anymore? WE DON'T NEED YOU. We have a song that says 'we will never lose' and 'we will fight till the game is won'.

TIM Flipping FISHER and Joy SISU do not, and never will own CCFC. It will and will aways belong to us.

I, for one, will NEVER be put off by SISU. I am a Coventrian and a CCFC fan FOR LIFE and will go and watch my team whatever.
 
bigfatronssba

bigfatronssba

Well-Known Member
japandy said:
I am proud to hail from the City of Coventry.

I am proud our fore-fathers fought again injustices in the world especially in the Second World War, and then we forgave and moved on.

I am proud our great city has had more inventors than any place on Earth live within its walls.

I am proud of Lady Godiva who fought even her own husband to fight unfair taxes on the City's citizens.

So how will history view this pathetic outpouring of childishness? I feel ashamed that many on here call themselves CCFC fans and react, without hearing a word from OTIUM and their vision, like pansies. Get a grip.

So you don't want to support us anymore? WE DON'T NEED YOU. We have a song that says 'we will never lose' and 'we will fight till the game is won'.

TIM Flipping FISHER and Joy SISU do not, and never will own CCFC. It will and will aways belong to us.

I, for one, will NEVER be put off by SISU. I am a Coventrian and a CCFC fan FOR LIFE and will go and watch my team whatever.
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If your such a proud Coventrian, why are you betraying your city to support a Walsall based team?
 
T

tbh444

Member
CovLis86 said:
I hope to get on the relegation odds of 7/1 before they drop to evens.
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Good call - the league may have no choice to accept whatever devious plan this all is but they can still hammer what remains of the club with points deductions (bit like when ken bates pulled a similar trick at leeds if I remember)
 
T

theferret

Well-Known Member
fernandopartridge said:
3rd party creditors are being paid in full according to someone else in this thread.
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Yeah, in a CT Q&A on 24/5 TF said:

"We have put forward proposals to the administrator which would see all creditors at the date of the administration paid in full, including ACL."

Guess that's the only way to avoid the scenario outlined by duffer.
 
W

wal3590

Well-Known Member
jas365 said:
This is the risk assessment of Otium from the accounting software I use:

Credit Rating is Suspended

Accounts filing is late.

This company has had a dissolved warning issued by Companies House which has now been discontinued
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I actually think, the FL will scrutinise this bid massively, they can't have another pompey situation! They must pass a fit and proper person test. This must include a credit score check!
 
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