Your Choice, Take 15 Point Deduction or ACL Sign CVA? (1 Viewer)

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SkyBlueDubai

New Member
So tomorrow being a massive day, there are two choices from how I understand it.

1. ACL reject the CVA, in which Coventry City Ltd is liquidated by the Administrator, and the actual football club regardless of who owns it, receive 15 point deduction, which in my opinion could spell another relegation.

2. ACL agree to CVA, meaning we come out of administration, no points deduction, transfer embargo lifted subject to accounts being filed, and hope to god that SISU get round the table with ACL for Peace Talks

Either way tomorrow, as fans, there will not be a good outcome I feel, I am torn between seeing the back of SISU, or points deduction, which could be difficult for us to recover from.

What does everyone think?

PS. Massive respect to the SBA and The Trust for Saturdays march, it was incredible.
 
V

valiant15

New Member
Reject the cva. This isn't about the short term its about the long term. Sisu's dodgy accounting needs some serious investigation. Im sure I read that if the cva is rejected then the ground share can't go ahead?
 
S

SkyBlueDubai

New Member
I'm all for rejecting CVA, but from what I am understand, and I could be wrong, SISU could still end up owning the club, which would be our worst nightmare.
 
stupot07

stupot07

Well-Known Member
Sign it. Liquidate ltd, sisu will still own sky blue sports and leisure, and ccfc holdings and all of the assets.
 
Otis

Otis

Well-Known Member
stupot07 said:
Sign it. Liquidate ltd, sisu will still own sky blue sports and leisure, and ccfc holdings and all of the assets.
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You happy for the murky waters to stay murky then?

Sign the CVA and there will be no investigation.
 
Astute

Astute

Well-Known Member
stupot07 said:
Sign it. Liquidate ltd, sisu will still own sky blue sports and leisure, and ccfc holdings and all of the assets.
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Refuse to sign it and liquidate SISU. Liquidate their supporters as well.
 
Otis

Otis

Well-Known Member
stupot07 said:
No I wouldn't be happy.
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There's something not right. Unfortunately we need to get to the bottom of this club's finances. Yep, it will hurt the team on the pitch, bit so too is the act of moving the club away from the fans.

It's got past the damage that can be done now I feel.

I want us to be seen to be doing the right thing and it is an issue of morals and codes and scruples.

To be quite honest I think there is a many a shady going's on throughout football in general. Time to put the house in order.
 
N

Noggin

New Member
reject the cva, I see no hope if they sign, not a great deal more if they don't but I'll roll the dice.
 
James Smith

James Smith

Well-Known Member
Reject and investigate!
 
H

Houdi

Well-Known Member
Reject the CVA.
Struggling to understand any sympathy for SISU even over the rent issue. When they signed the rent agreement, they weren't naieve 16 year olds just out of of school ,they were hard nosed business people who knew the ropes. They didn't sign anything under duress, there was an offer, acceptance and consideration ,and thus a legally binding contract. They seemingly like to threaten people with legal action, but seem reluctant to obey laws themselves.
Fisher talks about them being unpopular for being a capitalist organisation, however capitalism generally rewards good business decisions but punishes bad decision making. If SISU had been the landlord, and ACL the tenant, I doubt very much if Joy Sepalla would have even entertained any reduction. The club can never recover whilst SISU remain, even if the club were to return to the Ricoh, the divide between the vast majority of fans and SISU is simply too big.
 
The Reverend Skyblue

The Reverend Skyblue

Well-Known Member
Reject CVA,take whatever hit we have to, and lets get to the bottom of all this shite once and for all,expose the liars, and applaud the side telling the truth
 
Otis

Otis

Well-Known Member
True.

Not too much lower we can sink.

Enough is enough. We now need a Panorama style expose of CCFC.
 
C

Chipfat

Well-Known Member
Reject the CVA, Sisu have more questions to answer about how they have got to this point..The FL also need to answer why they granted a move and is it because they have been threatened by Sisu regarding any mistakes they have made while Sisu were moving all parts to different companies..
 
sky_blue_up_north

sky_blue_up_north

Well-Known Member
Houdi said:
Reject the CVA.
Struggling to understand any sympathy for SISU even over the rent issue. When they signed the rent agreement, they weren't naieve 16 year olds just out of of school ,they were hard nosed business people who knew the ropes. They didn't sign anything under duress, there was an offer, acceptance and consideration ,and thus a legally binding contract. They seemingly like to threaten people with legal action, but seem reluctant to obey laws themselves.
Fisher talks about them being unpopular for being a capitalist organisation, however capitalism generally rewards good business decisions but punishes bad decision making. If SISU had been the landlord, and ACL the tenant, I doubt very much if Joy Sepalla would have even entertained any reduction. The club can never recover whilst SISU remain, even if the club were to return to the Ricoh, the divide between the vast majority of fans and SISU is simply too big.
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Been saying that for ages, yet some still blame the council and ACL, they had a contract, SISU should have known what was in it.. Reject the CVA and get to the bottom of this murky mess once and for all.
 
G

Godiva

Well-Known Member
We can all hope and prey for the decision to go one way or the other, but as I said a couple of days ago:

Godiva said:
Most seem to miss the duty of the ACL directors: To promote the success of the ACL business for the benefit of the shareholders and stakeholders.

They have two choices:
Vote 'yes' - that will mean they receive pretty much what they were owed (I guess the missing £100k is susu's way of letting ACL pay a part of the administrators fee). They will also have the chance of negotiating a 3 year deal to have the club play at the Ricoh while the new stadium is being build.
Vote 'no' - that will see them get nothing back. And they will lose any possibility of the club playing there for the next 3-4 years.

Vote 'yes' or 'no' ... the lease is dead. It won't matter how they vote, it won't save the lease.
Vote 'yes' or 'no' ... the assets and the Golden Share goes to Otium. The club will continue under sisu ownership no matter how they vote.

Remember they are obliged to promote the success of the ACL business for the benefit of the shareholders and other stakeholders.
That obligation can be meassured in money. Having to write off £500k instantly and effectively lose the business the club brings to the Arena will hurt ACL financially. And it will bring a cascade of collateral damages to the Casino, Compass and all the businesses in and around the stadium.

On the surface I think it is the directors duty to sign the CVA. It will save them half a million on the spot and give them the opportunity to keep the club and its business at the Areana for at least another three years.

But there are lot of things we don't know about. Maybe ACL think they can promote the success of the ACL better by not signing the CVA. In that case I would love to hear their reasoning.

In any case - don't expect (or believe) they will sign or refuse for the benefit of the fans or the club. In that respect they are equal to sisu - they need our money.
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Nonleagueherewecome

Nonleagueherewecome

Well-Known Member
Otis said:
True.

Not too much lower we can sink.

Enough is enough. We now need a Panorama style expose of CCFC.
Click to expand...


Agree with Yoda here do I :)
 
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