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I can't understand how it's allowed that SISU, as the only people who knew what assets Ltd had are allowed to make a bid just for those assets. I guess it must be legal, would need an expert to tell us that, but it's fair from a fair and transparent process. There's also the issue that one of...

it's not uncommon for a lease to be terminated when an insolvency event, such as administration, occurs. We would need to see a copy of the lease to know if that's the case here however if you look at what PA has actually said he hasn't sold Ltd he's sold some of the assets so the lease will now...

I've mentioned this a couple of times, the way it's being done is very strange. These players are under contract, you can't just get rid of them so why are they being made to train alone and frozen out? If we're paying them (potentially for 2 years) why not make use of them, it's not like we've...

I take it as ltd still being in admin, with nothing but the lease in it. Either PA will liquidate ltd or SISU will as soon as they take it over and unless the lease has a clause which ties it to the golden share (very unlikely I would have thought) the lease will end with liquidation. The...

all parties? who was there besides the trust and FL?

Looking at the statement on ccfc.co.uk it seems Otium HAVE NOT purchased Ltd but have instead cherrypicked the assets the want out of Ltd. Les Reid has indicated it's the administrators report that has said if the CVA is not approved he will liquidate, I can see how that ties with an aim of...

Youth players only count as part of your squad after a certain number of appearances. Portsmouth refused to play them or even have them on the bench and so fell below the minimum squad size and therefore the league allowed them to make signings but they could only make them on monthly contracts.

what I found interesting was Les Reids tweet saying the administrators report indicated that if the CVA wasn't approved they would liquidate. couple of thoughts spring to mind. Firstly there are other buyers in interested so why would you liquidate if the bid from your initial preferred bidder...

seems like they haven't even done that, they've purchased some assets of a company they own.

no, you get a points deduction for what the FL term an insolvency event. going into admin was one, coming out of admin without an approved CVA would be another (and more than -10). Staying in admin makes no real difference apart from still being under an embargo. it would only become an issue...

Whole thing stinks. SISU were the only ones who knew what was in ltd and they've been allowed to cherry pick which bits they want. None of the other bidders even knew for sure what they were buying.

Remember the days when you didn't have to be a financial and legal expert to support city?!

I may have this wrong then, I thought the first things was a CVA proposal to creditors which, if rejected, could be authorised by the court provided they felt it was fair. Remember not only do SISU need to agree it more than 50% of unrelated creditors have to agree the CVA. You could have a...

Other clubs have had a preffered bidder named and then had to change that to an alternative why would that not apply to us? Surely if the sale to Otium can't be complted the club should be offered to the other parties who were interested not automatically liquidated?

from ccfc.co.uk I might be reading that wrong but that sounds like Otium haven't purchased Ltd (which would explain why it's still in admin), it has just purchased some of the assets of Ltd (not sure you can buy the FL share, didn't think that was allowed). This seems a right stich up. SISU...