That’s an understandable feeling given what was asked on the Tuesday before the game when discussions were taking place about games being played
Any company can agree an exclusivity period with a particular bidder, it doesn't just apply to administration
I think this is the contentious thing. They aren't in admin until tomorrow.... so nobody... yet. . ??Even other events/offices/etc? Who is paying the admin costs?
No, I am saying the owner of ccfc has to pay for ccfc to operateYou aren't making any sense at all.
You are saying CCFC should have to pay to keep ACL going while Richardson does a deal with Ashley?
Yes, my thoughts all along were that the lease was secure in the same way that a bank / mortgage / debenture / commercial premises works. The trustee (bank) has preference and the proceeds go there and on to the bondholders.Secured creditors with a fixed charge
These are generally banks and other asset based lenders that hold a fixed charge over the asset in question – vehicles, for example, property, or land. The lender is entitled to recover possession of the asset on the insolvency of the company, with the fixed charge being registered with Companies House.
Be good to see the timeline from ccfc making their payment and feeling there may be more on offer than a few home games to Ashley paying an exclusivity amount and keeping acl out of admin. Think both can be truepete. Your way off the mark there. Ashley paid substantial amount of money to get exclusivity. In turn that meant he has funded the day to day operations of the CBS for a few weeks now.
think you are getting confused. CCFC did put money in to ensure the Blackpool game went ahead. however CCFC couldn’t sustain that. Since then Ashley has funded the day to day operations
No, I am saying the owner of ccfc has to pay for ccfc to operate
But with the notice to appoint being spent is there a way of another party appointing an alternative administrator?Any company can agree an exclusivity period with a particular bidder, it doesn't just apply to administration
Well yeah if it is just selling normally the seller can literally do what they want and listen to whatever bids they want?
If it's going to drop into admin, wipe away shit loads of debts but picks a particular offer in advance then it seems different.
Legal fees “to ensure best outcome for creditors”£1.2m in losses to keep it running for 2 weeks?
£1.2m in losses to keep it running for 2 weeks?
Didn't we (CCFC) do this when (I think) ACL tried to put us into admin... and we then put ourselves in so as, I'm guessing, to have greater control after appointing the infamous Mr Appleton!!???.... who then sold us literally back to Sisu...But with the notice to appoint being spent is there a way of another party appointing an alternative administrator?
£1.2m in losses to keep it running for 2 weeks?
Didn't we (CCFC) do this when (I think) ACL tried to put us into admin... and we then put ourselves in so as, I'm guessing, to have greater control after appointing the infamous Mr Appleton!!???
No idea!!Wasn’t that because Sisu were the biggest creditor?
It isn’t different - the key is acl are to all intent and purpose insolvent
Are other functions still going ahead?£1.2m in losses to keep it running for 2 weeks?
But with the notice to appoint being spent is there a way of another party appointing an alternative administrator?
Is Richardon / Wasp Group somehow the biggest creditor?Wasn’t that because Sisu were the biggest creditor?
Wasn’t that because Sisu were the biggest creditor?
Is Richardon / Wasp Group somehow the biggest creditor?
How much per week do you reckon it costs to run the entire ccfc operation.We are talking about ACL operating.
How much per week do you reckon it costs to run the entire ccfc operation.
Atm Richardson doesn't have decide which is the best deal for the creditors. The best deal for creditors becomes the administrator's concern - if one is appointed tomorrow.Yes so effectively how can Richardson decide which bid is best for creditors? As we have seen he is trying to get the charges removed.
If that happens, what's to stop him from saying "The £15m is mine and you can all share this £5"
Someone tell the bondholders!.... even less for them after that... if true (which it probably isn't far off)
Someone tell the bondholders!.... even less for them after that... if true (which it probably isn't far off)
No idea. Came across it on Twatter. Would certainly explain how he (Ashley) became preferred bidder?40% of the money paid or 40% of something else?
It will be interesting to see if it happens.
Atm Richardson doesn't have decide which is the best deal for the creditors. The best deal for creditors becomes the administrator's concern - if one is appointed tomorrow.
I don’t see why we would care what money goes where
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