Sisu (2 Viewers)

[Tommo72]

Just a quickly - were Coventry City officially liquidated as part of the takeover from Sisu? Somebody is trying to tell me we should have gone to the bottom of the pile etc and made our way back up through the leagues.

I can’t remember the ins and outs and need a quick answer if poss.

 

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[Kingokings204]

Yes and the golden share was transferred over to the new company.

Coventry City Football Club Limited dissolved

Not when they officially took over though in 2007-8.

 

[Tommo72]

So should we have been penalised more?

Thanks btw.

 

[clint van damme]

I can’t remember the ins and outs and need a quick answer if poss.

starts a thread titled sisu and asks for a quick answer!

 

[skybluesam66]

it is what ever league accepts us
Chester city for example ended up 3 divisions below the conference premier - sort of Bedworth level

 

[Kingokings204]

So should we have been penalised more?

Thanks btw.

It was very murky because no one knew where anything was including player contracts and the golden share.

We had successive 10 point penalties for administration and then liquidated but again this was 4-5 years ago not when sisu officially took over.

 

[fernandopartridge]

Just a quickly - were Coventry City officially liquidated as part of the takeover from Sisu? Somebody is trying to tell me we should have gone to the bottom of the pile etc and made our way back up through the leagues.

I can’t remember the ins and outs and need a quick answer if poss.

Yes it was in the end but the key is that the Golden Share was transferred to Otium Entertainment Group, following a CVA with CCFC Ltd's creditors (of whom SISU were the majority). I think the rules have changed a bit now so not sure if whoever you're talking about is applying current rules retrospectively?

 

[Nick]

Is it this man you are talking to?

 

[skybluesam66]

the club with the golden share never went into liquidation
the transfer happened and then liquidated

While this is a subtle difference, I think this is why we only had the points deduction

 

[Tommo72]

Thanks guys - sorry I could be arsed with reading up, I don’t need to when I got you lot....LOL

Clint that made me laugh.

 

[fernandopartridge]

the club with the golden share never went into liquidation
the transfer happened and then liquidated

While this is a subtle difference, I think this is why we only had the points deduction

Yes, there was an administration which produced a CVA, Otium purchased the assets of CCFC Ltd which was subsequently liquidated.

 

[Tommo72]

Yes, there was an administration which produced a CVA, Otium purchased the assets of CCFC Ltd which was subsequently liquidated.

Thanks

 

[Liquid Gold]

The club was transferred to a different operating company and the original was liquidated. The club was not liquidated. If the club is liquidated then it ceases to exist.

 

[chiefdave]

Wasn't the issue that SISU had changed the names of the company that was CCFC and the football league had lost track allowed the golden share and player registrations to be separated into different companies.

 

[CJ_covblaze]

Wasn't the issue that SISU had changed the names of the company that was CCFC and the football league had lost track allowed the golden share and player registrations to be separated into different companies.

Yes that’s right. One was in CCFC Ltd, the other was in CCFCH Ltd. The players were not informed their contracts had been moved and they all could have left for free if they had realised at the time (e.g. Rangers). Also technically every time we played a game during that period we fielded 11 (plus 1/2/3 subs) illegible players. The FL could’ve hammered us for hundreds of points as the evidence was there. It was presumed at the time they didn’t take any action as it was partly their fault for not noticing for so long. If they had, the clubs who we beat (not a long list obviously!) that missed out on promotion or got relegated could have then taken action against the FL. Although the circumstances were a bit different the Tevez & Mascherano case where Sheffield United sued successfully for £5.5m as a separate company owned them could have been used as a precedent.