Is this where we are with things (1 Viewer)

[covboy1987]

Is my assumption correct that ACL's reasoning to vote for liquidation rather than CVA was that there would then be an in depth inquiry into the clubs affairs directorships and registering of players etc However, If ACL had agreed a CVA then because of the nature of how these things are set up if there had been any improper actions choosing the CVA route could sweep things under the carpet
If this is the case why is it that the club issuing statements such as “It still mystifies us why ACL voted against the CVA.
as again if i am reading things correctly why would it mystify anybody as ACL are not going to look a gift horse in the mouth and turn down £600,000 if they are not 100% sure three will be an inquiry and their advisers must be quite confident of finding something within that inquiry to turn things completely on its head
If and when something is found and ACL are correct does that mean we go back to square one and the process has to be re-addressed than Otium Entertainment Group who emerged as the successful bidder by the administrator Paul Appleton would either no longer be in the process or down the pecking order of preferred owners
I am certainly no expert on these matters but are we not awaiting a report off the administrator shortly into the way the club was run and if the report comes out that things were run correctly according to Paul Appleton then ACL will appeal this decision and go to court to allow a judge to decide if things were run correctly as they seem to have evidence to the contrary

 

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[Grendel]

There will be no enquiry. Given that they were offered nearly 100% of what they were owed no one knows why

The statement refers to ensuring the club stays in Coventry - it failed.

 

[Sutty]

From my understanding the investigation was not tied in with the CVA at all.

I'm baffled as to why ACL turned down the CVA, I don't see how it helps anybody. It certainly doesn't help the relationship between the two parties that we really need to talk to each other.

 

[Grendel]

From my understanding the investigation was not tied in with the CVA at all.

I'm baffled as to why ACL turned down the CVA, I don't see how it helps anybody. It certainly doesn't help the relationship between the two parties that we really need to talk to each other.

They believed by offering a much lower rental deal to Haskell they could get him in as preferred bidder.

 

[ohitsaidwalker king power]

They believed by offering a much lower rental deal to Haskell they could get him in as preferred bidder.

IS that a statement with an associated fact/data grendel or what you believe ? Im genuinely not playing you at your own game- just wanting to be clear- if so please provide source.

 

[italiahorse]

IS that a statement with an associated fact/data grendel or what you believe ? Im genuinely not playing you at your own game- just wanting to be clear- if so please provide source.

It's his usual bullshit put over as fact.
This guy dribbles it out day and night.

 

[RegTheDonk]

They believed by offering a much lower rental deal to Haskell they could get him in as preferred bidder.

Considering how much fantasy money Otium would/could have bid, and how much fantasy money SISU would/could "write off", I doubt how much rent they would have charged Haskell would even scratch the surface of making him the biggest/preferred bidder.

 

[skybluetony176]

They believed by offering a much lower rental deal to Haskell they could get him in as preferred bidder.

can you back this up with fact, please provide a link. oh wait that's you're line.

be nice if you have though

 

[Godiva]

as again if i am reading things correctly why would it mystify anybody as ACL are not going to look a gift horse in the mouth and turn down £600,000 if they are not 100% sure three will be an inquiry and their advisers must be quite confident of finding something within that inquiry to turn things completely on its head

They did not turn down £600k - accepting or refusing the CVA would leave them with the same financial outcome ... I believe £530k. This is because FL set as a condition for transferring the GS to Otium that any non connected creditor should receive the same compensation as they would under the CVA.
So ACL did not lose any money by refusing the CVA.

 

[covboy1987]

I was under the impression that ACL are awaiting the administrators in depth report due sometime in September to make sure there was no irregularities and from that report they would decide to appeal to the court if they felt the report missed out vital information

 

[covboy1987]

There will be no enquiry. Given that they were offered nearly 100% of what they were owed no one knows why

The statement refers to ensuring the club stays in Coventry - it failed.

what does this startement mean then !

ACL Call For Re-Examiniation Into Administration Process

Arena Coventry Limited have urged Coventry City Football Club Limited Administratior Paul Appleton not to start the liquidation process.

The Administrator is to present his findings after an investigation into the CCFC directors and shadow directors to a Government Business Department on September 19th and then liquidate the CCFC Ltd company which is expected to take about ten days.

Arena Coventry Limited have told the Coventry Telegraph's Les Reid: “We urge Mr Appleton not to begin the liquidation process and instead re-examine the entire administration process before he makes any further decisions.

“The recent admissions by the Football League of very serious errors relating to the registering of assets, as well as the contents of documents released via the internet, relating to meetings of the club’s board of directors and whereabouts of the players’ contracts, highlight the need for Mr Appleton to consider his position carefully.

“While doing this, he does of course also have the option to consider a revised CVA offered under the existing administration process.”