Search results

RR had not been paid in full for putting Prozone into the deal DTD and when he left was owed over £1.5m plus interest which looks like it was accruing at 10% per annum. (per the 2010 accounts). All done through the Arley Group which was RR's company He may well have had a sell on clause for...

question ........... if assets are subject to a charge or mortgage (properly registered at Company House and at League) does that take precedence over the football creditors rule ?

The embargo will be lifted if they submit the accounts and sign off the budget ............ that actually doesnt mean that the Charity has to sell anything ......... I would think there is a budget done where they dont get the shares. If you ask me this is a bargaining tool employed by SISU & Co

I know that you have been saying it NLHWC ......... but until i see the actual Insolvency law or Football League regulation that backs it up then I am wary of believing it. The stuff I have seen from the Government Insolvency Service website says that administration is an alternative not a step...

Have to bow to the Pompey administrators knowledge on whether or not we can go straight to a liquidation..... but i would like to know the basis/law/regulations of why they have to go to administration first just to be sure.

I think the Council have made their criteria very clear...... they want a partner that can provide finance to develop the area further and continue regular investment. They have made it clear that ACL is not about to be stripped of income to support a loss making club. THey have made it clear...

but the project was to build the stadium complex ...... it was not to support the football club in the sense of it playing..... even when ccfc started the stadium it was more than just building a football ground, see the council minutes regarding the objectives of the project it was those that...

the council and charity are completely separate entities .... each will have their own objectives and valuations in this. The Charity does not need to tell the council how much they will sell their shares for or the terms attached. There is and has to be a process in this. It is pointless the...

the football club was and is not the main driver of the Charity ... its objectives are as follows Such charitable purposes which shall benefit wholly or mainly the inhabitants of the area within 25 miles of the centre of Coventry as the trustees may select, with a preference as far as...

ACL arent selling anything dongonzalos. The Charity is The Charity is not there to support the football team....... the reason they could be involved at all in the first place is because the regeneration of north coventry matched the charitable objectives they have. In that respect their work...

Yes I am sure the drive is to get hold of the stadium etc Godiva but right now CCFC is trying to be partner to the council by buying the Charity shares. IF they are using the option at all because information today from the Charity suggests the offer is not based on the option terms at all. If...

It is a possibility ...........but I think the team will still be here but I think our expectations regarding squad need to be wound right in. Anyone that expects meaningful investment in the squad is going to be disappointed. Charity cannot negotiate on certain things and have to get full...

apparently the offer has been faxed to him ............ and AT has spoken to him ..... and he will sign the contract when he steps off the plane ........... oh sorry its 2012 not 2011 and its Keogh not King isnt it ..... :thinking about::whistle:

yes a petition to wind up can be challenged or set aside - which someone at the 11th hour would need to do

Thanks for the update PWKH .... as usual the only clarity in this is coming from the Charity

thats my understanding too

Things are coming to a head and despite witholding the rent SISU are not in as much control as they would like

to wind up = liquidation L_N administration is a process of management by administrators as a going concern with a view to achieving a sale Not in anyones interest to wind up really all will lose by it but there comes a point where that is the only course of action left

what is quite likely is that SISU made part of the deal dependant on attaining success.... ie get so much now and get so much more when team promoted if within say 5 years. If they did that then they fail to understand the law regarding Charities and the requirements of the Charity Commission...

1) no administration is not necessary first it is an alternative. more info here http://www.bis.gov.uk/insolvency/Companies/company-liquidation#5 2) the contract for the rental is still valid. SISU/CCFC are still in breach of contract . ACL could take action any time they like. if they took...