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it was from TF on CWR this morning ..... said bank accounts all frozen so SISU had to play the player & staff wages Interview around 8:10am

The thing about SISU paying the wages.............. they have two choices really pay the wages and the fight continues ...... a chance of salvaging something dont pay them and they have to close the doors .............. there is no other source of income or loans ...... the club would be...

Now if we take TF at his word ACL are no longer worth what they once were........ so the original cost of £6.5m for the charity is on that basis somewhat less. TF tried to say ACL was worthless but lets say the value has halved so thats a potential loss to the charity of 3.25m Had the charity...

Totally agree with that

wouldnt know same as you dont .............. would assume that being clever guys and having sought lots of insolvency advice that they would have a proper handle on it.......... that their actions will be sufficient to prove that whilst maybe technically insolvent they are not wrongfully...

hear what you say SBB but ........ it is something the Directors have to keep an eye on There are two tests for solvency defined in Section 123 of the Insolvency Act 1986, being 1) are your assets exceeded by your liabilities and 2) are you failing to discharge your debts as and when they fall...

Wonder if Fisher, Clarke & co are up to speed on this ..... they must have an eye on it surely Wrongful Trading is the unlawful act as set out in Section 214 of the Insolvency Act 1986. Insolvent Trading or trading whilst insolvent would be part of the evidence of an act of Wrongful Trading...

That is the simple version Godiva ...... you should see the amount we have in our manuals or need to read from professional bodies etc ! I know you said it was one but there are people here that think agreeing the rent and matchday F&B's solve everything Of course I could just have put...

another thought ...... It was my understanding that in the group structure the company that owned CCFCH was Otium Entertainment Group (which is owned by SBS&L)........... that company was in default on its accounts 21/01/13 ............... does that mean that technically under league rules we...

a few thoughts ....... Going concern is not just about the owners plugging the gap ...... in any case SISU never gave a guarantee of that the auditors must be satisfied that the company is a going concern for 12 months plus from the date they sign the audit report the auditors do not...

Not sure I can answer that the way you want me to Grendel...... just dont know the other rental agreements and to be honest we have very little real detail on ours The current lease was signed in different times and was in need of review certainly. It is neither the reason why we are...

wouldnt disagree with any of that. Do you think we have the owners to do that or will it require new (or even several) owners? For me the current owners do somethings right, and in my opinion other things wrongly, they are not the ones to take us forward

Those assured incomes come with assured assured costs too But ACL have an interest in keeping them there at the moment .......... if the club just upped and left it wouldnt be the same and ACL I reckon wouldnt hesitate in issueing winding up order based on the legal judgements they already...

You could be right, I have seen it before also, but I wouldnt know in this case

grego gee when they took over they wrote off £35m and took reponsibility for the net liabilities left. 2008 accounts showed a net amount of 8.6m net liabilities taken on Of which I believe 6m was written off in the 2011 accounts. Since then their "investment" or loans have risen to over £45m...

not sure you understood what i put Godiva

I do not see the point in pouring more money after bad ............. would take what i could and go. BUT the world of hedge funds is not always the same logic as you and I there may be some angle they have that we do not yet realise. Apart from not buying what/how they did in the first place...