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two sets of creditors NW related (SISU ARVO CCFC H) and unrelated (ACL AHTrust HMRC) Two votes first is all creditors in which the related creditors would win the vote However second vote to ratify is unrelated creditors only in which ACL would be largest. The second vote was established to...

would not surprise me if there are grounds for cva 22/07 are challenged and the meeting adjourned for further consideration, rather than voted down also once cva is agreed the administrator has six months to produce a report on the actions of the directors and shadow directors, it might suit to...

Lease/licence is presently still there in CCFC Ltd - an administrator can not dismiss a lease only a liquidator can/will (other than the landlord cancelling it ) the option has now gone. Not sure it was because of administration but because SISU enacted it on behalf of CCFC Ltd last June and...

well it isnt my fault that there were so many things in the week i wasnt here now is it :laugh::laugh::facepalm:

Been away from here for week or so ...... on holiday with phone locked away and no desire at all to access the internet So having read through a lot of what I have seen here and elsewhere i am i right in thinking/understanding - Otium are now owners of CCFC Ltd subject to the CVA meeting on...

Per the FL whilst under embargo ................. "The Club may be permitted to re-sign Under 24 Year Old Players prior to expiry of their contract on not less favourable terms so as to allow the Club to retain compensation rights in respect of that player"

Thinking beyond the admin proposal duffer ............. thats just the next step Proposal is to satisfy the unrelated creditors in full - exit administration by a very short term CVA in effect. If the Lease is still active they will need the FL to give the share to CCFC H (otherwise why switch...

They can leave the debt in CCFC Ltd and liquidate the company and most of the debt will still exist Got to remember what the debt is made up of Biggest part is money owed to CCFC H. Now ask yourself how did CCFC H get the money to give to CCFC Ltd. It had loans from SISU/SBS&L to do it so...

Surely if ACL are making the offer to the administrator to allow CCFC to play rent free then the lease is still live. I do not think ACL have exercised any rights of termination, right now it is still one of the levers ACL have in proving to the FL that CCFC are not being forced out

Actually it says it notes Appletons decision and will now work with the administrator & the bidder to see if they meet the FL insolvency criteria before they decide whether they can accept the proposed new owners What it does not do is accept that Otium now own CCFC Ltd or even rubber stamp it

The accounts for all group companies are overdue john1965. Company House will allow it to go so far before issueing a proposal to strike off. There are then 3 months in which to avoid that but if there are circumstances to take in to account like a group member in administration they can appeal...

Think in terms of the debt (aside from that owed to ACL, Higgs Charity) you need to think about the Group situation. Optium is part of the SBS&L group. It is owned by SBS&L plus ARVO If CCFC Ltd owes other group members there is a liability on CCFC Ltd accounts. However there is an equal...

doesnt it actually say that it will be at least 3 weeks before exit from administration?

Its Heart or Head argument really NW Have always argued the club needs to be set up properly and viable above all. My head says in terms of the club(purely) they are doing the right things financially, cutting costs, putting in control etc My Heart says I want them gone, I do not trust them...

It terms of hard finance no NW it isnt a bad result from purely the Club's point of view. If it happens. We might yet ground share etc and that makes no sense at all to me. SISU seem in a position of power but they still have to show some compromise to get a workable deal. The concerns I...

because he will get a pay off and has lost credibility as a front man for a lot of the fans. The public image is important still Waggott has in the mean time been kept in the background, is a football guy, doing stuff in the community with experience of running a club...............

but they pay up and break the lease by liquidating CCFC Ltd. If the premises not used the licence costs would be lower so the amount to pay ACL would be also I suspect.

Waggott was CEO at Charlton BSB http://news.bbc.co.uk/sport1/hi/football/teams/c/charlton_athletic/7372274.stm

The ACL claim would be something like the £600k quoted in the administrators document plus say 3 years of the remaining lease. They will not be entitled to 42 years at 1.3m. They get compensation in effect for the period it should take to re-let the premises. Very very unlikely to be...

Is it back to square one though? ............ I would have said there was a shift in power to what it was day one