The Prefect
Active Member
The letter seems to miss some hugely important points although they are touched upon.
For me the only way the takeover by Otium will be stopped is under the 'fit and proper' test. All else is a non-starter. SISU can prove funds and provide a business plan for the club - this is routine for them.
What they can't to is walk away form their actions. A few of them would be:-
Failure in Corporate Govenance (director admitted failing to keep proper accounts) - would this include misleading their auditors?
Failure to file accounts and annual returns for the companies in the Sky Blue Sports and Leisure Group.
Failing to pay a lawfully owed rent...
Appearing to remove assets from a company prior to placing it into administration (see administrators report).
Misleading public statements about the nature of CCFC Ltd and whether it was a 'trading' company or not...
Shadow Director (JS) attending meetings with lenders of a third party (Co-Op bank and the ACL mortgage) - what is the Football League's policy regarding Shadow Directors?
Director (TF) describing the club as 'debt free'? (Am I the only one that remembers this?)
Court records regarding the reliability of JS as a witness in a court case?
The list is almost endless although there is good evidence that SISU should fail the 'fit and proper' test it is unlikely they will. I am sure the Football League will do nothing other than place Coventry City on the road to ruin!
For me the only way the takeover by Otium will be stopped is under the 'fit and proper' test. All else is a non-starter. SISU can prove funds and provide a business plan for the club - this is routine for them.
What they can't to is walk away form their actions. A few of them would be:-
Failure in Corporate Govenance (director admitted failing to keep proper accounts) - would this include misleading their auditors?
Failure to file accounts and annual returns for the companies in the Sky Blue Sports and Leisure Group.
Failing to pay a lawfully owed rent...
Appearing to remove assets from a company prior to placing it into administration (see administrators report).
Misleading public statements about the nature of CCFC Ltd and whether it was a 'trading' company or not...
Shadow Director (JS) attending meetings with lenders of a third party (Co-Op bank and the ACL mortgage) - what is the Football League's policy regarding Shadow Directors?
Director (TF) describing the club as 'debt free'? (Am I the only one that remembers this?)
Court records regarding the reliability of JS as a witness in a court case?
The list is almost endless although there is good evidence that SISU should fail the 'fit and proper' test it is unlikely they will. I am sure the Football League will do nothing other than place Coventry City on the road to ruin!