Search results

Totally agree. Until that's all decided, as well as what debts lie in each entity (which can be proved) all everyone can do is guess the likely outcome.

Think youlll find they're 4 points off play offs. I agree, in a utopian position we'd all love to own the stadium. Even if the council said a new owner could have it we'd be looking at 30-40m in total. I don't think that's going to change whether we can challenge for promotion over the next...

The main thing for the club is to remain at the Ricoh on reduced rent ie 400k pa, getting benefit of the match day revenues for FFP. I believe this was/is on offer. If bloody Walsall can survive on paying more than that for their rent , no reason we can't.. If we could own half or all of the...

Acl had no choice. Sisu played hard ball and it was getting worse. Acl left it to the point when they thought we'd struggle to get in the play offs (bad result, Clarke injured). Our form since has been patchy but may have sneaked us home, who knows. It may be controversial to say but the...

Usually if an investigation is requested by a creditor and there is minimal assets the creditor would be asked to fund the investigation. I'm not sure what the judge said on this matter though. Agreed that the costs in general is an interesting point though. I'm guessing an indemnity for...

Argh Dulieu...who could forget him, my favorite !!! Probably paying off that lot equates to half of the £60m !

A couple of things. I havent got a clue how they have got to £60m, sounds ridiculous. The figures everyone wants to know is how much SISU are actually owed, whether this is debt or equity investment, how much ARVO have invested (sounds like its £8.4m) and whether this is fully secured. The...

Arvo are a secured creditor so have the right to appoint their own administrator. My point is that acl will be a huge unsecured creditor (which will be relevant when it comes to a cva proposal) As I mention above they have a duty to mitigate their claim, however, they will never get the 1.2m...

Secured creditor, yes, majority, I'm still not sure. How much have they directly put into the club ? How much have they put in since the debenture ? As far as I'm aware all this is unclear. ACL have a huge claim in this. Basically 1.2m x the remainder of the lease, this is then mitigated by what...

The Administrator has a duty to all creditors to maximise realisations. It's now the time for any interested parties to step forward asap to show they are willing and able to put the best offer on the table. Hopefully this would dissuade the administrator doing some kind of sneaky deal back to...

The final point you raise is the crux of the matter. When and how have the assets been transferred ? Assets cannot be moved beyond reach of creditors (especially for no consideration) which appears to have happened in this instance.

I haven't read all the pages so apologise if I'm repeating anything. Firstly, the club can't go into receivership, the debenture would need to pre date sept 2003 for this to be a possibility, which it doesn't. Secondly, sisu may be able to appoint their own administrator however their job would...

Agreed. As I've said before Sisu have tried to play hardball, ACL have reacted and called their bluff. It's a mess but at least matters have been brought to a head. Whether people like it or not ACL had little option. It's just sods law we are close to the play offs but we have been flirting...

Not had time to read the posts but a sensible move by acl and one I expected and would advise. This is the way I was thinking it would play out although an administration order by an unsecured creditor is very unusual. Sisu (or the associated company who hold a debenture) will have an...

Well he was saying they wouldn't be able to achieve the FFP requirements !!! One way to trim the costs I guess

Depends where the assets sit (player registrations, option for half share etc). I presume this is ccfc but god knows. After administration the buyer only takes on the assets of the company, not the company itself (or its liabilities).

Agreed, a very risky strategy and I'm still struggling to see what the benefit will be to the owners. I believe they will only do this if they have run out of cash, otherwise it doesnt make sense. They would have to potentially pay more to buy the club back than they owe to ACL...it just doesnt...

I'm pretty sure Leeds did something similar a while back. As above, struggle to see the benefit other than getting out of the arrears due to ACL (and if they have been incraesing other external creditors)

Directors leaving now will not have an impact on their personal liability (none are likely to have personal liability, it's a limited company and they aren't unlikely to have personally guaranteed any debts). Nor will it impact any potential review of their conduct (all directors from the past 3...

A couple of things. An administrator would not be paid by sisu, they would get paid out of the asset realisations (as would a liquidator). I suppose sisu may indirectly pay for this as it would come out before any distribution to the creditors inc them, however I still think admin would achieve...