ACL CVA Meeting (2 Viewers)

Skybluenutterman · Jul 21, 2013

Anybody know what time this meeting is tomorrow? I would vote for liquidation, refusal by ACL to accept the offer by SHITSU and a 15 point deducation if it meant we got rid of these Tossers once and for all!!

Flying Fokker · Jul 21, 2013

If liquidation gets rid of SISU then maybe it will be a good thing providing we have a team to start at the Ricoh.

The 59th minute of the 11th hour approaches.

As soon as SISU go there will be a honeymoon period when crowds get behind the team. There needs to be something to kick start a new future with the Coventry City. We will probably have no players so will be putting out teams like Portsmouth did. We may be relegated but there that is better than no club at all.

illphil80 · Jul 21, 2013

Doesn't liquidation mean there is no more club. would have to start at league level 8-12 and that club would definitely not be at the Ricoh, unless they owned it. Maidstone and Aldershot are the 2 most recent clubs to undergo liquidation. Would be up to 10 years of non-league football at best. I'd rather us attempt to try and survive as we are and see what comes up. I don't believe SISU really want to own us anymore anyway, they just want to minimize loses. If they tidy things up into one company and have low outgoings, its more easy to sell.

jesus-wept · Jul 21, 2013

Failure to sign the cva tomorrow I think puts the ball therefore the decision to liquidate or not into the administrators court and there's this 28 day cooling off period.

ccfcway · Jul 21, 2013

i am all for ACL rejecting the proposal and opening the can or worms which is the SISU books.

I get the dreadful feeling though they will accept the CVA with a view to trying to CCFC back to teh Ricoh, only for SISU to ignore then after the CVA issue, really hope I am wrong

BrisbaneBronco · Jul 21, 2013

ccfcway said:
i am all for ACL rejecting the proposal and opening the can or worms which is the SISU books.

I get the dreadful feeling though they will accept the CVA with a view to trying to CCFC back to teh Ricoh, only for SISU to ignore then after the CVA issue, really hope I am wrong

Do not think ACL will accept CVA.
Financially it is worth about 500k to them.
If there is a deal on the horizon to sell ACL in full or in part to PH1V anyone else, then what is currently on offer from administrator is not worth worrying about.
Rejecting the CVA means that further investigations can continue which will hopefully expose any SISU wrong doings. This then could lead to new owners.
Its possibly our best hope even if it means further point deductions.

GaryPendrysEyes · Jul 21, 2013

Can they delay the CVA signing? on the basis that MP's are requesting a review of the Accounts and accountancy practices in the last year...

Otis · Jul 21, 2013

GaryPendrysEyes said:
Can they delay the CVA signing? on the basis that MP's are requesting a review of the Accounts and accountancy practices in the last year...

A delay would be the best option. Keep the pot boiling and pressure on.

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RogerH · Jul 21, 2013

illphil80 said:
Doesn't liquidation mean there is no more club. would have to start at league level 8-12 and that club would definitely not be at the Ricoh, unless they owned it. Maidstone and Aldershot are the 2 most recent clubs to undergo liquidation. Would be up to 10 years of non-league football at best. I'd rather us attempt to try and survive as we are and see what comes up. I don't believe SISU really want to own us anymore anyway, they just want to minimize loses. If they tidy things up into one company and have low outgoings, its more easy to sell.

Not necessarily. They tried to do that to Chester, they appealed, and were slotted in at the level below Blue Square, 3 steps away from League 2.

Otis · Jul 21, 2013

illphil80 said:
Doesn't liquidation mean there is no more club. would have to start at league level 8-12 and that club would definitely not be at the Ricoh, unless they owned it. Maidstone and Aldershot are the 2 most recent clubs to undergo liquidation. Would be up to 10 years of non-league football at best. I'd rather us attempt to try and survive as we are and see what comes up. I don't believe SISU really want to own us anymore anyway, they just want to minimize loses. If they tidy things up into one company and have low outgoings, its more easy to sell.

If it were a choice between Northampton for 5 years or us starting again down the leagues I know which one I'd choose. A Coventry team HAS to play in Coventry.

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GaryPendrysEyes · Jul 21, 2013

Otis. agreed. But if they have to do something (or there is a default position of accepting)- They should not sign.
Signing will result in this mess remaining hidden from public scrutiny and dragging on for years more.

Otis · Jul 21, 2013

GaryPendrysEyes said:
Otis. agreed. But if they have to do something (or there is a default position of accepting)- They should not sign.
Signing will result in this mess remaining hidden from public scrutiny and dragging on for years more.

I'm all for having the truth laid bare.

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dadgad · Jul 21, 2013

Please ACL - as a life long sky blue - do not repeat, do not, accept the CVA.
If there is a glimmer of hope that the whole truth about any shenanigans can come out then we have to grasp it.
A well run club has to start from a clean bill of health, financial and otherwise.
This cancer at the club has to be cut out once and for all.

stupot07 · Jul 21, 2013

I can't see how liquidating Ltd will get rid of sisu, they will still own holdings and sky blue sports and leisure all the players, staff, equipment, training ground. The FL may just hand the golden share to holdings and give us a massive point deduction, if not I imagine holdings will apply to FL league to start again.

I'd really like to know whether Chester, Portsmouth and other clubs have a similar structure to us and which bits went into admin.

Otis · Jul 21, 2013

stupot07 said:
I can't see how liquidating Ltd will get rid of sisu, they will still own holdings and sky blue sports and leisure all the players, staff, equipment, training ground. The FL may just hand the golden share to holdings and give us a massive point deduction, if not I imagine holdings will apply to FL league to start again.

I'd really like to know whether Chester, Portsmouth and other clubs have a similar structure to us and which bits went into admin.

One thing's for certain, this here at Coventry City is a complete and utter mess.

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italiahorse · Jul 21, 2013

Would be nice to pursue the issue of transfer of assets from Ltd to Holdings and how only debts transferred the other way ????

Ripbuster · Jul 21, 2013

No acceptance of the CVA,then you will no the truth and the truth will set you free.

ACL CVA Meeting (2 Viewers)

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