Wasps going into admin & the impact on CCFC (151 Viewers)

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Nick

Nick

Administrator
slowpoke said:
How does this all work legally, the preferred bidder is reportedly offering to pay £15.8 million plus £1.2 million 17 in all & sisu, King whoever willing to offer £25 mill seemingly out of the blue. So had I won the Euros last night I could turn up this morning waving £30million under the judges’ nose which is basically what sisu are doing or saying I would think the judge will hear the preferred bid/offer that’s on the table today and rubber stamp it through, it’s nothing to do with who owns ccfc who are merely tenants at the moment as are the casino people for example. Basically a new landlord, Ashley takes over from the old landlord ACL. There was always a curve ball to be thrown and I suspect the Ashley camp expected one.
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Ashley will be bidding on the assumption CCFC play there. He could be in a situation where there's no club at the stadium he's buying.
 
AFCCOVENTRY

AFCCOVENTRY

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slowpoke said:
How does this all work legally, the preferred bidder is reportedly offering to pay £15.8 million plus £1.2 million 17 in all & sisu, King whoever willing to offer £25 mill seemingly out of the blue. So had I won the Euros last night I could turn up this morning waving £30million under the judges’ nose which is basically what sisu are doing or saying I would think the judge will hear the preferred bid/offer that’s on the table today and rubber stamp it through, it’s nothing to do with who owns ccfc who are merely tenants at the moment as are the casino people for example. Basically a new landlord, Ashley takes over from the old landlord ACL. There was always a curve ball to be thrown and I suspect the Ashley camp expected one.
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Ultimately a court should be ensuring the best possible outcome for people owed money here. If the court is now aware that there are parties willing to pay more for the business and people like the wasps bond holders could potentially receive more money back, then sensibly it goes to a bidding war.
 
K

Kingokings204

Well-Known Member
AFCCOVENTRY said:
Ultimately a court should be ensuring the best possible outcome for people owed money here. If the court is now aware that there are parties willing to pay more for the business and people like the wasps bond holders could potentially receive more money back, then sensibly it goes to a bidding war.
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based on funds though. As was said I could state I have 30m for the cbs today. I don’t have it though and have I checked the books or the ground state? Neither of which can be great
 
H

Happy_Martian

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SkyblueDad

SkyblueDad

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I’m not sure if these things become auctions perhaps they do surly a judge will look at the fact no other bids were officially on the table by today and judge on that.
 
Grendel

Grendel

Well-Known Member
AFCCOVENTRY said:
Ultimately a court should be ensuring the best possible outcome for people owed money here. If the court is now aware that there are parties willing to pay more for the business and people like the wasps bond holders could potentially receive more money back, then sensibly it goes to a bidding war.
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thats not at all what the court is there to do
 
hutch1972

hutch1972

Well-Known Member
slowpoke said:
How does this all work legally, the preferred bidder is reportedly offering to pay £15.8 million plus £1.2 million 17 in all & sisu, King whoever willing to offer £25 mill seemingly out of the blue. So had I won the Euros last night I could turn up this morning waving £30million under the judges’ nose which is basically what sisu are doing or saying I would think the judge will hear the preferred bid/offer that’s on the table today and rubber stamp it through, it’s nothing to do with who owns ccfc who are merely tenants at the moment as are the casino people for example. Basically a new landlord, Ashley takes over from the old landlord ACL. There was always a curve ball to be thrown and I suspect the Ashley camp expected one.
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Exclusivity doesn't mean MA has to buy or ACL have to sell to him.
 
hutch1972

hutch1972

Well-Known Member
slowpoke said:
I’m not sure if these things become auctions perhaps they do surly a judge will look at the fact no other bids were officially on the table by today and judge on that.
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CCFC will have representation in court today to argue their case. What was a slam dunk 5 min job, will probably become a long day.
 
SkyblueDad

SkyblueDad

Well-Known Member
Perhaps that’s a good thing and if after listening and taking into account what they say and the judge comes out in favour of the preferred bid is that it.
 
Grendel

Grendel

Well-Known Member
slowpoke said:
Perhaps that’s a good thing and if after listening and taking into account what they say and the judge comes out in favour of the preferred bid is that it.
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Well unless someone seems To think another court case is appropriate
 
skybluetony176

skybluetony176

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Is this likely to be a short hearing? If bond holders are now willing to accept the MA offer surely there isn’t much to discuss? It’s just procedural? Will SISU even be offered the stage to have their 2 pennies worth? Surely this is between MA, the administrator and ACL’s creditors. Are SISU classed as creditors? Maybe I guess if they’re due money back from bankrolling ACL enough that we didn’t cancel any games.
 
hutch1972

hutch1972

Well-Known Member
skybluetony176 said:
Is this likely to be a short hearing? If bond holders are now willing to accept the MA offer surely there isn’t much to discuss? It’s just procedural? Will SISU even be offered the stage to have their 2 pennies worth? Surely this is between MA, the administrator and ACL’s creditors. Are SISU classed as creditors? Maybe I guess if they’re due money back from bankrolling ACL enough that we didn’t cancel any games.
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There are no administrators atm. The ability to still fund ACL for a month is also a plus point.
 
shmmeee

shmmeee

Well-Known Member
skybluetony176 said:
Is this likely to be a short hearing? If bond holders are now willing to accept the MA offer surely there isn’t much to discuss? It’s just procedural? Will SISU even be offered the stage to have their 2 pennies worth? Surely this is between MA, the administrator and ACL’s creditors. Are SISU classed as creditors? Maybe I guess if they’re due money back from bankrolling ACL enough that we didn’t cancel any games.
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CCFC are creditors yes.
 
O

oldfiver

Well-Known Member
skybluetony176 said:
Is this likely to be a short hearing? If bond holders are now willing to accept the MA offer surely there isn’t much to discuss? It’s just procedural? Will SISU even be offered the stage to have their 2 pennies worth? Surely this is between MA, the administrator and ACL’s creditors. Are SISU classed as creditors? Maybe I guess if they’re due money back from bankrolling ACL enough that we didn’t cancel any games.
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BH site reporting CCFC in court
 
shmmeee

shmmeee

Well-Known Member
Nick said:
Got a feeling it might be sisu.

I did think it was that bus lane camera guy
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Could be Ridley as well.

For me, if you’re an anonymous whistleblower account with secret info you post it, you don’t just post email footers or whatever.
 
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