oldskyblue58
CCFC Finance Director
not going to comment as such but
21/04/11 Otium entertainment Group formed - owned by SBS&L and ARVO Master Fund
22/03/12 charge over ccfc ltd and ccfch ltd assets taken by ARVO Master Fund
31/03/12 CCFC Ltd stop paying rent to ACL
May june 2012 discussions between Higgs Charity and SISU over the 50% Charity interest in ACL. Period of due diligence entered in to SISU have access to the financials but the Charity hear nothing further
August 2012 ACL obtain judgement against CCFC Ltd in respect of unpaid rent - this is unchallenged by SISU, ACL have to move to the next process
November 2012 statutory demand is issued against CCFC Ltd. It is unchallenged by SISU and judgement given ACL have to move to the next process
December 2012 discussions between ACL and CCFC at which there is a plan allegedly to buy out Yorkshire Bank and SISU become part owners of ACL - no contract
Mid January 2013 CCC repays the Yorkshire Bank with a loan made to ACL, having obtained a loan itself to do so.
29th January 2013 final talks between ACL & CCFC break up with ultimately no agreement. SISU/CCFC reject the offer
mid February 2013 ACL inform CCFC that they have made their last offer and would not negotiate further
March 2013 ACL issue winding up order 22/03/13. Challenged by SISU. SISU place CCFC Ltd in to administration appointing their own nominee as administrator
15/05/2013 Administrator issues report that queries where the trade is, who owns the golden share, and where player contracts are. It is "confirmed" by CCFC directors that CCFC Ltd is and always has been a non trading property subsidiary and that the football club is in CCFC H. Disputed by ACL etc
May 2013 Judicial review claim by SISU/ARVO/CCFCH in respect of loan to buy out Yorkshire Bank
June 2013 the Fisher forums and the stadium master plan. First creditors meeting. FL confirm golden share with CCFC Ltd. "
June/July 2013 Bidding" process takes places for rights to assets in CCFC Ltd and is won by Otium Entertainment Group Ltd
July 2013 meetings to agree CVA
01/08/2013 CVA rejected and FL award Golden Share to Otium Entertainment Group Ltd (see 21/04/11 above)
CCFC Ltd - not CCFC - to be liquidated
so when was this process planned and who drove it?
update Judicial Review thrown out by Judge 06/08/13
21/04/11 Otium entertainment Group formed - owned by SBS&L and ARVO Master Fund
22/03/12 charge over ccfc ltd and ccfch ltd assets taken by ARVO Master Fund
31/03/12 CCFC Ltd stop paying rent to ACL
May june 2012 discussions between Higgs Charity and SISU over the 50% Charity interest in ACL. Period of due diligence entered in to SISU have access to the financials but the Charity hear nothing further
August 2012 ACL obtain judgement against CCFC Ltd in respect of unpaid rent - this is unchallenged by SISU, ACL have to move to the next process
November 2012 statutory demand is issued against CCFC Ltd. It is unchallenged by SISU and judgement given ACL have to move to the next process
December 2012 discussions between ACL and CCFC at which there is a plan allegedly to buy out Yorkshire Bank and SISU become part owners of ACL - no contract
Mid January 2013 CCC repays the Yorkshire Bank with a loan made to ACL, having obtained a loan itself to do so.
29th January 2013 final talks between ACL & CCFC break up with ultimately no agreement. SISU/CCFC reject the offer
mid February 2013 ACL inform CCFC that they have made their last offer and would not negotiate further
March 2013 ACL issue winding up order 22/03/13. Challenged by SISU. SISU place CCFC Ltd in to administration appointing their own nominee as administrator
15/05/2013 Administrator issues report that queries where the trade is, who owns the golden share, and where player contracts are. It is "confirmed" by CCFC directors that CCFC Ltd is and always has been a non trading property subsidiary and that the football club is in CCFC H. Disputed by ACL etc
May 2013 Judicial review claim by SISU/ARVO/CCFCH in respect of loan to buy out Yorkshire Bank
June 2013 the Fisher forums and the stadium master plan. First creditors meeting. FL confirm golden share with CCFC Ltd. "
June/July 2013 Bidding" process takes places for rights to assets in CCFC Ltd and is won by Otium Entertainment Group Ltd
July 2013 meetings to agree CVA
01/08/2013 CVA rejected and FL award Golden Share to Otium Entertainment Group Ltd (see 21/04/11 above)
CCFC Ltd - not CCFC - to be liquidated
so when was this process planned and who drove it?
update Judicial Review thrown out by Judge 06/08/13
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