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ACL should only reduce the rent if Sisu surrender some shares to them (1 Viewer)

  • Thread starter OyJimmy
  • Start date Aug 28, 2012
Forums New posts
O

OyJimmy

Member
  • Aug 28, 2012
  • #1
ACL is not a charity nor is Sisu. Therefore ACL should agree to lose 90 percent of their earnings from the club for the next 12 months in return for shares of an equivalent value. By taking this approach the tax payer obtains the accounts and Sisu accept the commercial reality they find themselves in
 
G

Godiva

Well-Known Member
  • Aug 28, 2012
  • #2
You do know that the shares in the club has zero value, so even surrendering every share wouldn't equal much rent reduction.
And why would ACL be interested in become (part) owner of the debts to sisu?
 
O

OyJimmy

Member
  • Aug 29, 2012
  • #3
Godiva said:
You do know that the shares in the club has zero value, so even surrendering every share wouldn't equal much rent reduction.
And why would ACL be interested in become (part) owner of the debts to sisu?
Click to expand...

Everything has a value. It may be that Sisu have to surrender 90% of their Equity in the club to agree a deal. But that's life. ACL are not a charity.
 

cloughie

Well-Known Member
  • Aug 29, 2012
  • #4
OyJimmy said:
Everything has a value. It may be that Sisu have to surrender 90% of their Equity in the club to agree a deal. But that's life. ACL are not a charity.
Click to expand...

surely that would mean ACL would owe 90% of the debt to sisu, then sisu could call in the debt and take control of the the assets of ACL , The ricoh
 
G

Godiva

Well-Known Member
  • Aug 29, 2012
  • #5
cloughie said:
surely that would mean ACL would owe 90% of the debt to sisu, then sisu could call in the debt and take control of the the assets of ACL , The ricoh
Click to expand...

Correct - like I said: Why would ACL want to be (part) owner of the debts to sisu?
 
O

OyJimmy

Member
  • Aug 29, 2012
  • #6
Godiva said:
Correct - like I said: Why would ACL want to be (part) owner of the debts to sisu?
Click to expand...

Because they could then put it into administration and sort out a long term future for the club, which would be to the benefit of ACL!
 
O

OyJimmy

Member
  • Aug 29, 2012
  • #7
cloughie said:
surely that would mean ACL would owe 90% of the debt to sisu, then sisu could call in the debt and take control of the the assets of ACL , The ricoh
Click to expand...

Wrong. They would own 90% of another business, which they could just choose to put into admin without paying any of the debt.
 
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