So, now we have a prospective purchaser. (1 Viewer)

[Flying Fokker]

Does that change the views of people who prefer sticking with SISU?

Just a name, and maybe clutching at straws so early on in the proceedings. SISU may not let go anyway.

 

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[Diehard Si]

Even as someone who wants them out (as I think it's best for the club, not a vendetta against them) I agree with your last paragraph.

 

[@richh87]

"SISU are the only game in town"...

 

[@richh87]

I don't know how anyone could support SISU. We need their cancerous presence removed from our football club.

Things will only keep getting worse under them.

 

[Bugsy]

I will believe it when i see it with my own eyes talk is cheap....

 

[DazzleTommyDazzle]

Does that change the views of people who prefer sticking with SISU?

Just a name, and maybe clutching at straws so early on in the proceedings. SISU may not let go anyway.

I have posted a number of times previously that it seemed improbable that SISU would sell for a realistic price and that consequently a buyer was only likely to emerge if negotiations might be with someone else I.e. an administrator.

For the avoidance of doubt can I please point out that this is not the same thing "as praying for liquidation" or any other such misrepresentation.

 

[Grendel]

I will believe it when i see it with my own eyes talk is cheap....

He'll certainly be buying on the cheap and an American interested in property development hardly means the club will be the priority.

 

[torchomatic]

Well, let's all hope it turns out nicely. As FF says they are only "prospective" at the moment.

 

[mattylad]

and they could still pay up before Friday which takes this all somewhere else in this mess

 

[italiahorse]

Do we ?
The only way we can go up this season is with SISU's help. !!!!

 

[Godiva]

and they could still pay up before Friday which takes this all somewhere else in this mess

Ah, but what about due dilligence. You know the stuff people say sisu didn't do properly and subsequently led to the rent-strike and falling out with ACL?
Due dilligence take weeks. And requires access to all books, agreements and contracts currently in sisu's posession.

 

[Mucca Mad Boys]

He'll certainly be buying on the cheap and an American interested in property development hardly means the club will be the priority.

For now they're saviours, 5 years later, he's the Joy 2.0.

 

[Mary_Mungo_Midge]

Ah, but what about due dilligence. You know the stuff people say sisu didn't do properly and subsequently led to the rent-strike and falling out with ACL?
Due dilligence take weeks. And requires access to all books, agreements and contracts currently in sisu's posession.

Could ACL not choose to defer the court case if heads of terms were agreed, pending completion of due diligence? But with the chance of returning to the court if 'SISU turn bad'?

Again....

 

[shropshirecov]

Just because you think the Ricoh rent is ridiculously high doesn't make you pro sisu

 

[Godiva]

Could ACL not choose to defer the court case if heads of terms were agreed, pending completion of due diligence? But with the chance of returning to the court if 'SISU turn bad'?

Again....

ACL are the only ones who can prevent the court case, but I don't think they will. It really looks like a well orchestrated plan:
1) Get Elliot/Hoffman to find potential new owners
2) Push ccfc into administration to force the change of ownership
3) Inform the Trust that new owners are looking around
4) Leak the prospect of new owners to excite the fans and have them accept points deduction.

It's a tough world and it will be very interesting to see how sisu respond.
They may actually take a pragmatic view and just accept any reasonable offer that include some sort of potential recovery of part of their investment.

 

[Mary_Mungo_Midge]

ACL are the only ones who can prevent the court case, but I don't think they will. It really looks like a well orchestrated plan:
1) Get Elliot/Hoffman to find potential new owners
2) Push ccfc into administration to force the change of ownership
3) Inform the Trust that new owners are looking around
4) Leak the prospect of new owners to excite the fans and have them accept points deduction.

It's a tough world and it will be very interesting to see how sisu respond.
They may actually take a pragmatic view and just accept any reasonable offer that include some sort of potential recovery of part of their investment.

I don't agree with your prognosis in it's entirety; but I do believe ACL are now - and have for some time - been operating against a very well-considered plan. I think there was a tipping point in Fisher's posturing and/or perceived lack of a candid stance that's pushed them beyond the point of return. Since that point, they appear to have landed a series of body-shots that taken some life out of SISU's stance.

Like their actions or not, to date their actions have been very effective; and we can only hope they have an end-game mapped out that doesn't include administration. If that includes a face-saving position for SISU tha also means they can retire gracefully, then all the better

 

[chiefdave]

where do things stand legally if ACL are essentially trying to force CCFC into admin to allow their preferred new owners in? I imagine it's just one of those things in business but could we end up with a huge legal wrangle if SISU don't want to go quietly?

 

[Mary_Mungo_Midge]

where do things stand legally if ACL are essentially trying to force CCFC into admin to allow their preferred new owners in? I imagine it's just one of those things in business but could we end up with a huge legal wrangle if SISU don't want to go quietly?

I still maintain that the directors of ACL had to act on the threat of liquidation. They couldn't allow their main debtor to fold as they would be in deriliction of their duties to do so. They had to act, and this is one way of them doing so. Frankly, I can't think of another.

You may be correct, insomuch as that they wanted new owners, and that SISU's latest over-played hand gave them the lawful reason they needed. Who knows? But they had to act. That's certain

 

[Steve.B50]

Just a thought, but where is Fisher at present?

Not heard anything from him for a few days.

 

[Delboycov]

I still maintain that the directors of ACL had to act on the threat of liquidation. They couldn't allow their main debtor to fold as they would be in deriliction of their duties to do so. They had to act, and this is one way of them doing so. Frankly, I can't think of another.

You may be correct, insomuch as that they wanted new owners, and that SISU's latest over-played hand gave them the lawful reason they needed. Who knows? But they had to act. That's certain

Totally agree with that MMM...I wonder if TF & co are regretting the liquidation "pronto" ultimatum as it seems to have set about a chain of events which may wrestle any control from out of their hands. From the outside it looks like a massive 'schoolboy error' as it seems to have backfired spectacularly and in my opinion they've lost even more credibility with the way they seem to have been outwitted at every turn from their clear tactics of trying to distress ACL to their forcing their opponents into a corner,seemingly not having considered the possible consequences of such inflamatory action.

Yes they may have some more fight left but from the outside at least it looks like they're beaten...and they know it. I wouldn't rule out a white flag being raised before too long.

 

[italiahorse]

Does that change the views of people who prefer sticking with SISU?

.

No. SISU are the only option to get us up this year.

 

[chiefdave]

I still maintain that the directors of ACL had to act on the threat of liquidation. They couldn't allow their main debtor to fold as they would be in deriliction of their duties to do so. They had to act, and this is one way of them doing so. Frankly, I can't think of another.

You may be correct, insomuch as that they wanted new owners, and that SISU's latest over-played hand gave them the lawful reason they needed. Who knows? But they had to act. That's certain

But didn't they already have a court order to get that money back and if CCFC go into admin they aren't going to get anywhere near what they are owed are they? If it comes down to the threat of liquidation I would think ACL are on very shaky ground as they were threatening liquidation long before SISU and there's room for interpretation in TF comments made to the press. You could read it as less of a threat to liquidate and more a case of if ACL don't come back to the table we don't have many options legally.

Hopefully it won't come to a court case but there could well be enough of a grey area for SISU to string things out and make it very difficult if they feel like doing so.

 

[italiahorse]

Totally agree with that MMM...I wonder if TF & co are regretting the liquidation "pronto" ultimatum as it seems to have set about a chain of events which may wrestle any control from out of their hands. From the outside it looks like a massive 'schoolboy error' as it seems to have backfired spectacularly and in my opinion they've lost even more credibility with the way they seem to have been outwitted at every turn from their clear tactics of trying to distress ACL to their forcing their opponents into a corner,seemingly not having considered the possible consequences of such inflamatory action.

No win situation.
If SISU don't settle then administration, points deduction, loss of players and several more years in Division 1.
If they settle then business as usual. Which is actually what TF said. But .............. still a possibility of promotion.
Surely SISU to pay up is a short term want !!!

 

[Delboycov]

No win situation.
If SISU don't settle then administration, points deduction, loss of players and several more years in Division 1.
If they settle then business as usual. Which is actually what TF said. But .............. still a possibility of promotion.
Surely SISU to pay up is a short term want !!!

"business as usual" presumably being more transfer embargos, further decline on the field, further lack of communication and respect for the fans and more false promises of buying into the stadium?

The ideal scenario for me would be for a deal to be done which will avoid the need for admin and a points deduction, we go up and SISU sell to a decent buyer who finds us a much more attractive proposition as a Championship club. For that I'd definitely be able to 'stomach' these clowns for a bit longer...

 

[BrisbaneBronco]

Do we ?
The only way we can go up this season is with SISU's help. !!!![/QUOTE

Exactly, we are only 3 points off the play-offs and some people are singing and dancing about admin and a 10 point deduction and new owners we know nothing about.
Promotion this season is realistic and must be a priority

 

[Flying Fokker]

Do we ?
The only way we can go up this season is with SISU's help. !!!![/QUOTE

Exactly, we are only 3 points off the play-offs and some people are singing and dancing about admin and a 10 point deduction and new owners we know nothing about.
Promotion this season is realistic and must be a priority

Unless a party buys them out. In which case ACL will stall the admin process leaving SISU to sell.

 

[CCFCSteve]

Totally agree with that MMM...I wonder if TF & co are regretting the liquidation "pronto" ultimatum as it seems to have set about a chain of events which may wrestle any control from out of their hands. From the outside it looks like a massive 'schoolboy error' as it seems to have backfired spectacularly and in my opinion they've lost even more credibility with the way they seem to have been outwitted at every turn from their clear tactics of trying to distress ACL to their forcing their opponents into a corner,seemingly not having considered the possible consequences of such inflamatory action.

Yes they may have some more fight left but from the outside at least it looks like they're beaten...and they know it. I wouldn't rule out a white flag being raised before too long.

Agreed. As I've said before Sisu have tried to play hardball, ACL have reacted and called their bluff. It's a mess but at least matters have been brought to a head. Whether people like it or not ACL had little option. It's just sods law we are close to the play offs but we have been flirting with them all season (getting close then throwing away a good position) and at the time looked out of it.

Lets just hope either way we see a resolution to all of this as soon as possible

 

[Flying Fokker]

Agreed. As I've said before Sisu have tried to play hardball, ACL have reacted and called their bluff. It's a mess but at least matters have been brought to a head. Whether people like it or not ACL had little option. It's just sods law we are close to the play offs but we have been flirting with them all season (getting close then throwing away a good position) and at the time looked out of it.

Lets just hope either way we see a resolution to all of this as soon as possible

It's just sad that fans are divided on this issue. The people who espouse the status quo did so in the belief that nobody is out there.
I think a delay in the proceedings for admin. would be the right option now.

 

[Wrenstreetcarpark]

to be threatened with "business as usual" with Sisu/Fisher carrying on, a nightmare. More rent strikes, more arguing over the profit on a burger, more Fisher tantrums and threats. Enough is enough. No return to business as usual, we have had it with Fisher/Robinson/McGinnity/Richardson's "business as usual".

 

[oldskyblue58]

What ACL said months ago is that winding up "is an option"................ it always has been .............. doesnt mean they would take it

Yes ACL have judgement for a statutory demand ............ the remedy for non payment of such is winding up........ that isnt what ACL have gone for

what SISU through TF said was

""We are at a tipping point and insolvent liquidation cannot be reasonably avoided."
"They need to re-enter negotiations pronto or we file. We'll have no option because there would not be reasonable probability of avoiding insolvency liquidation."

In reality neither are a threat ..... more a strong expression of what the realities are.

I dont understand why people on both sides of the argument are getting their knickers in a twist over it....... neither have said anything that wasnt actually true

 

[Flying Fokker]

What ACL said months ago is that winding up "is an option"................ it always has been .............. doesnt mean they would take it

Yes ACL have judgement for a statutory demand ............ the remedy for non payment of such is winding up........ that isnt what ACL have gone for

what SISU through TF said was

""We are at a tipping point and insolvent liquidation cannot be reasonably avoided."
"They need to re-enter negotiations pronto or we file. We'll have no option because there would not be reasonable probability of avoiding insolvency liquidation."

In reality neither are a threat ..... more a strong expression of what the realities are.

I dont understand why people on both sides of the argument are getting their knickers in a twist over it....... neither have said anything that wasnt actually true

At the Colchester game Labovic and Fisher told ACL that they would liquidate the club. That triggered a reaction by ACL. It is of course possible that ACL were just waiting for SISU to come out with that so they could press forward with their own resolution to the problems. SISU did not expect that and have been pretty quiet since the administration hearing was set in stone.

 

[torchomatic]

It seems that ACL are a hard-nosed, evil Joint Venture Company.

where do things stand legally if ACL are essentially trying to force CCFC into admin to allow their preferred new owners in? I imagine it's just one of those things in business but could we end up with a huge legal wrangle if SISU don't want to go quietly?

 

[SkyBlueCharlie]

What ACL said months ago is that winding up "is an option"................ it always has been .............. doesnt mean they would take it

Yes ACL have judgement for a statutory demand ............ the remedy for non payment of such is winding up........ that isnt what ACL have gone for

what SISU through TF said was

""We are at a tipping point and insolvent liquidation cannot be reasonably avoided."
"They need to re-enter negotiations pronto or we file. We'll have no option because there would not be reasonable probability of avoiding insolvency liquidation."

In reality neither are a threat ..... more a strong expression of what the realities are.

I dont understand why people on both sides of the argument are getting their knickers in a twist over it....... neither have said anything that wasnt actually true

For once OSB58 I find myself disagreeing with you...the statement "They need to re-enter negotiations pronto or we file" is very much a direct threat. It also implies ...'come back to the table on our terms or we file'

 

[torchomatic]

Eaxctly, OSB58! That is what I've been trying to get over to SBK, but he won't have it. I'm pleased someone else can see it.

In reality neither are a threat ..... more a strong expression of what the realities are.

 

[oldskyblue58]

At the Colchester game Labovic and Fisher told ACL that they would liquidate the club. That triggered a reaction by ACL. It is of course possible that ACL were just waiting for SISU to come out with that so they could press forward with their own resolution to the problems. SISU did not expect that and have been pretty quiet since the administration hearing was set in stone.

ACL had to have had detailed discussions concerning what to do next well before that game, they are not ones to act in a knee jerk fashion. It might have been the final straw but I would guess they were going to go down that course of action any way. The "threats" or "realities" expressed just made it more palatable in PR terms. It is not a course of action that ACL wanted to ever take but they are running out of options. They had to do it before the end of the season and would have given the impact on CCFc consideration (including timing)

I dont see significance in the SISU silence other than they are preparing for court and to fight tooth and nail. I wouldnt necessarily see it as a display of weakness