just heard on cwr that acl are at the high court in birmingham over the non payment of rent.....so what do we think the outcome will be :thinking about::thinking about:
Wish some people would stop being melodramatic. Its hardly going to threaten the existance of the club.
Not sure I necessarily agree. SISU lose the case and decide they don't fancy funding us, then things get messy...Wish some people would stop being melodramatic. Its hardly going to threaten the existance of the club.
If ACL win and Sisu still refuse to pay does that mean an automatic winding up order is in place or would ACL have to reapply to court for that?
I don't see how ACL cant take us to court over unpaid rent, when the rent has been paid (albeit out of the Escrow account
As I understand it the rent was paid into the ESCROW fund which ACL drew down from. That ESCROW account is now empty and there CCFC are in breech of contract for not putting funds into the ESCROW. Might be wrong but I think that is correct.
Whilst i understand ACL taking this route to get what they're owed, surely a winding up order would see them worse off. Some rent a month is better than none. It's not like anyone else will move in to the Ricoh if CCFC are no more.
They'll be stuck with a stadium used for one gig a year and conference halls that get the low key exhibitions because of the lack of hotels in the area.
That is my understanding of it as well. The account is empty so ACL have not received this months payment.
Also it is a condition of the contract that the ESCROW is kept topped up.
CCFC are not the only tenant at the Ricoh casino, Hotel are there too.......... with CCFC in League 1 then income streams will be down so ACL are already feeling the effects of a poor under performing tenant and yet they are expected to reduce their income further because SISU/CCFC cant manage their own affairs ?
If negotiations were so advanced and agreed ready to be signed in the next few days as spinmeister Fisher claims then I doubt ACL would be wasting money taking City to court - I think its the very fact that ACL are taking them to court that has forced them to stop being belligerent and actually negotiate. They have been made offers over the rent by the council but have refused to give assurances the council sought that the saved money would be reinvested in the club and not spirited away to the Cayman Islands. Cov City is supposed to be a community club yet by this non payment of rent it is acting against the interests of the citizens of Coventry - after all they are the ultimate owners of the Ricoh.
It was suggested by FISHER in interview with CET a few days ago that ACL are merely following a procedure that they have to follow, that rent negotiations are ongoing and close to resolution and that he expected agreement to be reached by the start of the league season.
If negotiations were so advanced and agreed ready to be signed in the next few days as spinmeister Fisher claims then I doubt ACL would be wasting money taking City to court - I think its the very fact that ACL are taking them to court that has forced them to stop being belligerent and actually negotiate. They have been made offers over the rent by the council but have refused to give assurances the council sought that the saved money would be reinvested in the club and not spirited away to the Cayman Islands. Cov City is supposed to be a community club yet by this non payment of rent it is acting against the interests of the citizens of Coventry - after all they are the ultimate owners of the Ricoh.
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