A bit confused (1 Viewer)

[Ccfcsj]

Forgive my ignorance but I don't understand how this all works (also please forgive me if this has been asked elsewhere).

As ACL have applied for the club to be put into Administration and the fact that this could take a few weeks before it is approved in court, can SISU still liquidate us before the court date or does the application alone mean this cannot happen?

 

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[Samo]

SISU can not liquidate us now that the application for administration is in place. For now anyway

 

[Otis]

Yup.

ACL say they have applied for the administration order in order to prevent the club from being liquidated.

Might not stop it in the future though.

If ever we needed a knight in shining armour it's now. Unless anyone wants to come in and save the club it is still looking very gloomy indeed.

 

[mattylad]

Here is a very good site that says more about a CVA which is the way a new owner (or even SISU) would look to move the club out of administration.

http://www.bankruptcy-insolvency.co.uk/business_solutions/company_voluntary_arrangement.php