ACL putting freeze on our account (1 Viewer)

luwalla · Mar 21, 2013

If this move by SISU , putting arvo into admin, is enough to stop the court case tommorow , then that must be the company that had the deal with ACl for the rent..

SISU say that this company will not affect the actual club and the club will continue to operate as normal.. but if that's the case , then how we're ACL able to put a freeze on the CLUBs account a few weeks ago.. ??

Surely ACL could only have put a freeze on ARVOs account .. Something is t adding up here

Spencer · Mar 21, 2013

luwalla said:
If this move by SISU , putting arvo into admin, is enough to stop the court case tommorow , then that must be the company that had the deal with ACl for the rent..

SISU say that this company will not affect the actual club and the club will continue to operate as normal.. but if that's the case , then how we're ACL able to put a freeze on the CLUBs account a few weeks ago.. ??

Surely ACL could only have put a freeze on ARVOs account .. Something is t adding up here

There may have been an agreement in the tenancy that the risks and obligations could be transferred to an in-house company. I certainly think ACL would have had a similar clause in case they sold the arena.

As this would have been pre-agreed SISU would just have had to invoke the change and then send that company into administration.

Nonleagueherewecome · Mar 21, 2013

You can't really get away with that in football, though-and we won't have anywhere to play.

luwalla · Mar 21, 2013

Sure ok, so if they transferred the rent agreement to Arvo and then put arvo into admin.. If that's the case then the club actually no longer have a home , until we negotiate a new agreement with ACL I guess ??

If love to be in the room for the negotiation of that deal!!!

cloughie · Mar 21, 2013

luwalla said:
Sure ok, so if they transferred the rent agreement to Arvo and then put arvo into admin.. If that's the case then the club actually no longer have a home , until we negotiate a new agreement with ACL I guess ??

If love to be in the room for the negotiation if that deal!!!

You couldn't tranfer the rent agreement to another company without ACL agreement

Spencer · Mar 21, 2013

luwalla said:
Sure ok, so if they transferred the rent agreement to Arvo and then put arvo into admin.. If that's the case then the club actually no longer have a home , until we negotiate a new agreement with ACL I guess ??

I guess that's right (but, like everyone, I am only guessing). I can't see ACL turning down rent though (no matter who pays).

But then - what do I know??

Tad · Mar 21, 2013

ACL will probably just bolt the Ricoh gates shut now. If there not getting paid, they won't let CCFC in.

SISU, you have made a right mess of this..

chiefdave · Mar 21, 2013

cloughie said:
You couldn't tranfer the rent agreement to another company without ACL agreement

what if they transferred everything else and just left the rent agreement / arrears?

CJparker · Mar 21, 2013

This is making my head hurt.

Just for a moment, can somebody please forget that I don't know anything about SISU, ARVO, debentures, third party debt orders, holding companies and court hearings...and just tell me, in plain English, what the hell is going on???

Spencer · Mar 21, 2013

cloughie said:
You couldn't tranfer the rent agreement to another company without ACL agreement

If it was written in the original agreement it would be considered to have already been agreed with ACL.

It is a standard inclusion in many agreements such as collateral warranties and commercial rental agreements.

luwalla · Mar 21, 2013

Spencer said:
I guess that's right (but, like everyone, I am only guessing). I can't see ACL turning down rent though (no matter who pays).

But then - what do I know??

True , but ACLs opening term might something along tr lines if " yes well agree a new deal with you, but we need an initial down payment of 1.3 million please.. Then 400k per month going forwards"

Spencer · Mar 21, 2013

CJparker said:
This is making my head hurt.

Just for a moment, can somebody please forget that I don't know anything about SISU, ARVO, debentures, third party debt orders, holding companies and court hearings...and just tell me, in plain English, what the hell is going on???

The truth is no one really knows (except some clever solicitors somewhere) and I doubt they know if it will work.

wingy · Mar 21, 2013

We are still in Court tomorrow according to SSN.

Tad · Mar 21, 2013

Spencer said:
The truth is no one really knows (except some clever solicitors somewhere) and I doubt they know if it will work.

Its all part of SISU's plan to buy more time. Screw it up that much, people need time to straighten it all out.

cloughie · Mar 21, 2013

Spencer said:
If it was written in the original agreement it would be considered to have already been agreed with ACL.

It is a standard inclusion in many agreements such as collateral warranties and commercial rental agreements.

Correct but that would have been with ACLs agreement at the beginning

rob9872 · Mar 21, 2013

Careful what you all wish for, like a wounded animal sisu has returnd to the fight and we're now moving into their territory and area of expertise. A ruthless hedgefund was never likely to take this lying down. Acl could have scored the biggest own goal ever and the biggest losers ultimately could be us.

wingy · Mar 21, 2013

rob9872 said:
Careful what you all wish for, like a wounded animal sisu has returnd to the fight and we're now moving into their territory and area of expertise. A ruthless hedgefund was never likely to take this lying down. Acl could have scored the biggest own goal ever and the biggest losers ultimately could be us.

This sounds very much based on fear rob ,induced through our owners ,you have sounded very much in their camp of late and seem now to express fear of what they are prepared to do to us to win .I am a respector of your posts normally.

rob9872 · Mar 21, 2013

I'm concerned that they are clever and cunning, by no means a supporter of theirs but worried we've backed them into a corner and may not like the outcome.

skyblue025 · Mar 21, 2013

rob9872 said:
I'm concerned that they are clever and cunning, by no means a supporter of theirs but worried we've backed them into a corner and may not like the outcome.

What if ACl follow SISU's lead and lock the gates? Then we will be truly shafted.

Danceswithhorses · Mar 21, 2013

rob9872 said:
I'm concerned that they are clever and cunning, by no means a supporter of theirs but worried we've backed them into a corner and may not like the outcome.

...and they are now showing their true colours ?

rob9872 · Mar 21, 2013

Hopefully that won't happen and I'm unsure if police wouod allow that as potential riot outside if unannounced untilbthe day. Also away fans and possible h&s issues.

rob9872 · Mar 21, 2013

Danceswithhorses said:
...and they are now showing their true colours ?

I think we've always known their true colours, nothing has changed. They have no affinity to the club its a pure business arrangement and when thatfails there is nothing else left for them.

Spencer · Mar 21, 2013

cloughie said:
Correct but that would have been with ACLs agreement at the beginning

That was kind of the point I was making?

Spencer · Mar 21, 2013

rob9872 said:
I think we've always known their true colours, nothing has changed. They have no affinity to the club its a pure business arrangement and when thatfails there is nothing else left for them.

Whereas the big saviour from America would have sky blue running through his veins?

rob9872 · Mar 21, 2013

Yes that's exactly what I've said isn't it spencer? .....

stupot07 · Mar 21, 2013

skyblue025 said:
What if ACl follow SISU's lead and lock the gates? Then we will be truly shafted.

If it was a residential property i think they would need to get an eviction order before doing this. Not sure if its the same or different in a commercial setting.

Brighton Sky Blue · Mar 21, 2013

CJparker said:
This is making my head hurt.

Just for a moment, can somebody please forget that I don't know anything about SISU, ARVO, debentures, third party debt orders, holding companies and court hearings...and just tell me, in plain English, what the hell is going on???

For a start it isn't ARVO which has been placed into administration. It's actually one of the subsidiaries of CCFC Holdings, which is the holding company for the football club itself-assuming that CCFCH doesn't have any other subsidiary companies (off the top of my head I don't think so). What it basically means is:

The club's holding company has put it into administration.

At first glance this, on the eve of the High Court hearing, will have caught ACL completely off guard, and it will have done. What it means also is that CCFCH, not ACL, have control over the subsidiary (CCFC)'s future.

ACL putting freeze on our account (1 Viewer)

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