Wasps going into admin & the impact on CCFC (10 Viewers)

Forums New posts
Status
Not open for further replies.
Nick

Nick

Administrator
Feb 25, 2008
137,779
56,621
1,063
Coventry
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.
Click to expand...

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.
 
  • Like
Reactions: Gibbo, Sick Boy and Sky Blue Pete
AFCCOVENTRY

AFCCOVENTRY

Well-Known Member
Aug 1, 2011
13,216
8,143
313
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.
Click to expand...

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.
 
  • Like
Reactions: Sky Blue Pete
K

Kingokings204

Well-Known Member
Jul 8, 2013
7,318
2,740
163
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.
Click to expand...

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

Well-Known Member
Jan 1, 2013
3,651
2,519
213
slowpoke

slowpoke

Well-Known Member
Apr 24, 2015
8,620
5,773
263
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
Sep 19, 2011
82,386
36,734
813
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.
Click to expand...

thats not at all what the court is there to do
 
  • Like
Reactions: hutch1972
hutch1972

hutch1972

Well-Known Member
Aug 28, 2011
1,231
457
133
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.
Click to expand...
Exclusivity doesn't mean MA has to buy or ACL have to sell to him.
 
hutch1972

hutch1972

Well-Known Member
Aug 28, 2011
1,231
457
133
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.
Click to expand...
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.
 
slowpoke

slowpoke

Well-Known Member
Apr 24, 2015
8,620
5,773
263
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
Sep 19, 2011
82,386
36,734
813
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.
Click to expand...

Well unless someone seems To think another court case is appropriate
 
  • Like
Reactions: hutch1972
skybluetony176

skybluetony176

Well-Known Member
Aug 2, 2013
33,787
16,682
313
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
Aug 28, 2011
1,231
457
133
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.
Click to expand...
There are no administrators atm. The ability to still fund ACL for a month is also a plus point.
 
shmmeee

shmmeee

Well-Known Member
Jul 11, 2011
56,189
56,080
813
Coventry, United Kingdom, United Kingdom
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.
Click to expand...

CCFC are creditors yes.
 
O

oldfiver

Well-Known Member
Mar 25, 2011
3,570
1,353
163
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.
Click to expand...

BH site reporting CCFC in court
 
slowpoke

slowpoke

Well-Known Member
Apr 24, 2015
8,620
5,773
263
Grendel said:
Well unless someone seems To think another court case is appropriate
Click to expand...
But who can appeal if that’s what you are saying any decision made today, I don’t think sisu/ccfc can and it appears the bond holders are sitting back now
 
Status
Not open for further replies.

Users who are viewing this thread

Total: 4 (members: 0, guests: 4)
Top Bottom