torchomatic
Well-Known Member
So Otium is now the sole entity at CCFC.
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Sent from my Galaxy S4 using Tapatalk 2
What about Sky Blue Sports and Leisure, Sisu Capital 1 & 2 an ARVO?
What drugs are you on lol ???imagine they bought the ricoh and we really turned our fortunes around
would sisu be looked back in history as heroes?
one day at a time,sorting the infrastructure out
imagine they bought the ricoh and we really turned our fortunes around
would sisu be looked back in history as heroes?
Sorry Torch, but is this significant?
See OSB's post. I thought you would welcome such a move?
From 1995 up until 2007 there were two companies. In 2008 SISU added SBS&L then in 2011 SISU added Otium Entertainment Group Ltd. At some point they transferred ownership from 5 SISU funds to Sconset Capital.
Now to "simplify things" they have by one means or another removed the two original Companies from 1995.
So we are back to the position we had in 1995 to 2007 a trading company and a holding company.
Of course they could have used the original two companies when they came in, never formed the new ones, simplified the accounting transactions between each, transferred assets between the two quite legally and never complicated the structure in the first place.....
Companies that are liquidated or petition to wind up dont have to file accounts..... all perfectly legal
It sounds a bit like the sort of tidying up you did as a kid, i.e. make your bedroom appear neat by stuffing everything under the bed.
this is the club official statement
Club shareholders to be invited to meeting regarding restructure process before the end of 2013
Coventry City has continued the process of tidying up its business structure.
It has voluntarily struck off Coventry City Football Club (Holdings) Ltd. All business is transacted through Otium Entertainment Ltd.
Tim Fisher said: "All assets sit within Otium Entertainment - including the Football League golden share - so the move to solvent dissolution of CCFC Holdings is simply another logical step in making our structure simpler and straightforward.
“We have said throughout that we intended to clean up the untidy structure we inherited and put all the assets and operations of the Football Club under a single entity and this is part of that process.”
Fisher added that all relevant stakeholders had been formally notified of the process and the nearly 300 B shareholders had also been written to informing them they would be invited to a meeting before the end of the year.
Read more at http://www.ccfc.co.uk/news/article/club-restructure-continues-1161674.aspx#0jRs94QHuPMq8ySb.99
begs the question what took them so long, given that it seemed a pretty straight forward process in the end why did they spend years operating the same "untidy structure" they inherited when they bought the club. i'm no genius but its almost like the untidy structure served them well and benifitted their game plan.
From 1995 up until 2007 there were two companies. In 2008 SISU added SBS&L then in 2011 SISU added Otium Entertainment Group Ltd. At some point they transferred ownership from 5 SISU funds to Sconset Capital.
Now to "simplify things" they have by one means or another removed the two original Companies from 1995.
So we are back to the position we had in 1995 to 2007 a trading company and a holding company.
Of course they could have used the original two companies when they came in, never formed the new ones, simplified the accounting transactions between each, transferred assets between the two quite legally and never complicated the structure in the first place..... they made different choices as is their legal right
Companies that are liquidated or petition to wind up dont have to file accounts..... all perfectly legal
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