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This is the end game. Finally. It is now up to ACL to decide if they will fight the administrators decision and refuse the CVA and thereby make sure the club starts the new season at -15 points. Alternatively they can try to negotiate a three year lease with sisu and make sure the club stays at...

Well he may not be their in-house lawyer, but surely he is acting as consultant and paid by ACL for his advices? They do need a specialist at the table and who better than the very man they preferred as administrator?

Had ACL had their way, it would be Brendan Guilfoyle who would have been appointed administrator. Many on this board ridiculed sisu for putting the company in administration themself, but it should be crystal clear now why it made a huge difference. Both Appelton and Guilfoyle would have run...

ACl are not keeping quiet - their administration lawyer Brendan Guilfoyle is making a lot of noises to keep confusion at a high and suggest alternative outcomes where ACL will come out winners.

There is a formular - and right now I can't find that document - that describes the position of secured, non-secured and non-connected creditors. But in short - in your example the main creditor can bid £2 and win the company back. The comapny's balance will be £100m improved (wiped debt) so...

That is true - but still, my understanding is his priority no 1 is to save the business going forward. The creditors return is priority no 2.

The company can only be liquidated by the administrator if no new owner can be found - OR if the NEW owners decide. The new owners can be Otium or anyone else selected by the administrator.

In this case there are only two real creditors - ARVO and ACL. The current bid is suggested to pay off ACL in full - all £650k, so that should leave ACL with no grounds for not accepting (there's the compensation on the remaining of the lease to complicate things, but for the argument say there...

Brendan Guilfoyle was ACL's prefered administrator, so a few questions ... He was not appointed to oversee the sale of limited, so why is he still around? What is his agenda? He lost out on the administrators fee - around £600k - who is paying him now for being deeply involved? He is making...

If there actually exist such a letter I wouldn't be surprised if it state that Otium (or sisu or Holdings) has not (yet) been accepted as fit and proper. I can't see why FL would provide an individual outside the club with sensitive information as 'a failed test' would be.

What do they use that revenue stream for? Year after year they put money in to the club - They don't take any out and it will be some time before they can start taking back some of those £30m+ they are out of pocket - even a lot longer before they can take out more than they have put in.

They have never put in £70m. That figure is the accrued losses in limited since 1995. It's not a debt. ARVO (sisu) is owed £10m and ACL £650k. Does that information make any difference to you?

Actually the debt to ACL is only £650.000. And as it has been said many times - ACL will receive all of that. Then there's the lease with the remaining 40+ years. If limited exit administration through a CVA (creditors voluntary agreement) the lease is still valid. If on the other hand limited...

Wasn't NOPM meant to be Not One Penny More while sisu are owners? To promote the idea not to attend home games (at the Ricoh!), not buy season tickets, not buy kits etc to starve the club from revenue?

letsallsingtogether

No, then don't have to spend another £30m. They buy a suitable ground (larger than needed for a stadium alone). Now they have an asset. Then they get planning permission to build a stadium - probably a 20k seater. Then they start selling off pieces of the surrounding land to other parties...

They would be mad not to - the new stadium will be build in any case. The only real alternative is to agree a deal that makes all of ACL part of the club, but would ccc and Higgs agree to a price that in the long run make that as good an investment for sisu as building a new stadium? I don't...

As they have been in close contact with the FL I think they have agreed to transfer the GS to Holdings, thereby removing any future confusion over which entity is the football club. All non secured creditors (ACL) will be paid in full which should pave the way for Owners Voluntary Liquidation...

To achieve these Aims the Trust will: seek to work in partnership with the Club and all other stakeholders in CCFC; represent and give voice to the views of Trust members;