Appeal Dismissed

Discussion in 'Coventry City General Chat' started by Fishy Tim, Oct 12, 2018.

  1. Nick

    Nick Administrator

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    I don't think a single person making points on here would agree with somebody trying to start a fight though? That's why it isn't really relevant.
     
  2. CJ_covblaze

    CJ_covblaze Well-Known Member

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    It was something to do with the bike ride. It was pretty clear he hadn’t done anything untoward but a suggestion was made and he had to try to prove otherwise. I can’t think of any other group of people that would even suggest it in the first place. That’s nothing against those individuals btw. As I said there’s a severe lack of overall trust across the board.
     
  3. Nick

    Nick Administrator

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    Obviously it's silly. On the other hand you have people allegedly ripping fans off.

    What's that got to do with the trust saying stuff though?
     
  4. CJ_covblaze

    CJ_covblaze Well-Known Member

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    It was a reply to LAST regarding witch hunts
     
  5. duffer

    duffer Well-Known Member

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    Entirely fair, ISB, SISU have been at the root of our woes and I'd never dispute that, but it's the Council's deal with Wasps that will really stuff the club forever.

    And regardless of all of that, there's nothing stopping Wasps doing a short-term deal. I'm sure they'd like the legal stuff to come to an end, who wouldn't, but the truth is that SISU are entitled to keep putting their case until all legal avenues are exhausted.

    If the deal was legitimate (legally rather than morally) then they've got nothing to really worry about. They'll get most if not all of their costs back, and if they are down a little they can cheer themselves up with the fact that they've picked up a 32,000 stadium for peanuts, with a tenant they can slowly screw to the wall without too much fear of opposition.

    As long as Wasps are seen as beating up SISU then what happens to the club will be overlooked by many, I fear.
     
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  6. chiefdave

    chiefdave Well-Known Member

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    Spot on duffer. Also worth adding if Wasps were that concerned about legal action don't move in to a stadium that's in the middle of years of legal action. Not like this has all come as a surprise.

    While we all think the legal action is pointless the courts are allowing it to proceed, if Wasps and CCC are that confident just see it through till the end.
     
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  7. NorthernWisdom

    NorthernWisdom Well-Known Member

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    In terms of PR, it would probably be better for them to do so. Avoids any doubt they have something to hide whereas, let's face it, this particular court action would be amazing if it did come back in favour of SISU.

    If we're talking PR, the court action is all a disaster for CCFC, and probably a benefit for Wasps and CCC (and even SISU, but let's not go there again ;))
     
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  8. riched1992

    riched1992 Member

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    FFS, Sorry dont mean to be rude but if you really think Wasps or any other hedge fund type business would not use us as leverage in these circumstances you are crazy. The horrendous thing for us is we ended up with the hedge fund who completely screwed up using us as leverage hurting us and them bloody selves in the process. Shit luck for us. Our time will come though.
     
  9. Nick

    Nick Administrator

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    Who has said that and where?
     
  10. skybluetony176

    skybluetony176 Well-Known Member

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    Anyhow. CWR have checked and as of 5pm no appeal is showing as lodged on the supreme courts website. Just tomorrow to go and we should know where we stand as a club and fans.
     
  11. Nick

    Nick Administrator

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    4.59PM.

    I will get a backup server ready.
     
  12. skybluetony176

    skybluetony176 Well-Known Member

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    I think CWR have assumed that 5pm is the end of the working day at the Supreme Court.
     
  13. Nick

    Nick Administrator

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    If they can do it before 4 or after 6. I've got stuff to do before the game.
     
  14. COVKIDSNEVERQUIT

    COVKIDSNEVERQUIT Well-Known Member

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    SISU know if they're going to appeal or not ( right now, today ) so why keep everyone waiting ?
     
  15. chiefdave

    chiefdave Well-Known Member

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    Where's the fun in that. It will be right before the deadline as usual.

    Or we'll get past the deadline only for the Telegraph to realise they messed it up again.
     
  16. Rusty Trombone

    Rusty Trombone Well-Known Member

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    Didn't Gilbert say before that they can still appeal after the deadline, if something new comes to light?
     
  17. skybluetony176

    skybluetony176 Well-Known Member

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    Because they’re cunts.
     
  18. riched1992

    riched1992 Member

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    Right above people are saying they think Wasps should take some moral high ground and let the legal action carry on so they can clear their name.
    Thats nuts they are a mercenary hedge fund like SISU. They dont give a shit about moral high ground and proving they did nothing wrong, they moved Wasps here for Gods sake!!!
    SISU are affecting them financially, they have leverage over SISU by screwing us. Like SISU did with us when they moved us to Northampton the owners of Wasps will also screw us over. Do I really have to point this out? Nuts
     
  19. Nick

    Nick Administrator

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    Do you mean nw's post?
     
  20. Broken Hearted Sky Blue

    Broken Hearted Sky Blue Well-Known Member

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    Appeal being lodged today and I think the end of the club is fast approaching
     
  21. Nick

    Nick Administrator

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    Has it been confirmed it is being lodged now? I don't think many deep down expected it to just be the end of it :(

    Wouldn't go as far to say it's the end of the club.

    Makes no sense though really, if it was me I'd be taking the money that goes to lawyers and spending it on private investigators and PR as there would probably be a better return on it.
     
  22. Broken Hearted Sky Blue

    Broken Hearted Sky Blue Well-Known Member

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    No but have it on good authority that it will be. I believe it is the start of the end of the club. This will go all the way and if Sisu aren't successful they will liquidate the club.
     
  23. Nick

    Nick Administrator

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    What's that based on?

    Was it somebody on the club or SISU side or one of the other sides that has said it would be lodged?
     
  24. Captain Dart

    Captain Dart Well-Known Member

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    Doubt it, the club have signed players on longer term contracts which per FA rules they'll have to pay up from any assert sale.
    Besides its surely better for them to sell the club as a going concern.
     
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  25. Darth Ranson

    Darth Ranson Member

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    Well it looks like he was right either way:
     
  26. Nick

    Nick Administrator

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    Wasn't saying he was wrong, just which "side" he had heard it from! Yep, now confirmed though!

    Don't think many expected it to not happen :( Pointless.

    Surely as soon as that letter is received they can just reply saying "No"? Save everybody time.

    Can't see the logic in it, they will have just added a couple of 00's to the rent offer that CCFC might get and they have no chance of actually winning the appeal etc. Still can't see us being kicked out or ceasing to exist. I can see Boddy's job being made a lot harder.
     
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  27. JamesCCFC

    JamesCCFC Well-Known Member

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    Exactly, it only makes sense to liquidate a company financially if the sale of the individual assets is greater than selling the company as a whole. But considering we have very few assets that surely can't apply to us. So on that basis, I just cannot believe from a financial point of view that it would make sense for SISU to walk away, liquidate the club, and write off tens of millions in the process.
     
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  28. Nick

    Nick Administrator

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    I don't think the "we will be kicked out of the league" stuff put out will really stick the way it was intended when they put stuff in the programme notes. It might have if today had passed but it won't now.
     
  29. Broken Hearted Sky Blue

    Broken Hearted Sky Blue Well-Known Member

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    Supreme Court then European court then bye
     
  30. JamesCCFC

    JamesCCFC Well-Known Member

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    It's certainly put Wasps in a precarious position. I personally can't see them having the balls to kick us out of the Ricoh as that would ultimately be the bitter end of CCFC as we know it. However, people can be pushed for so long....
     
  31. Broken Hearted Sky Blue

    Broken Hearted Sky Blue Well-Known Member

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    I don't think they will kick us out
     
  32. Magwitch

    Magwitch Well-Known Member

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    Do they (sisu) have to demonstrate grounds for appeal from which the Appeal court either grant or refuse, also does anybody have an idea on the timescale for it to get heard.
     
  33. JamesCCFC

    JamesCCFC Well-Known Member

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    Neither. However, what they probably will do is put the rent up as a way of showing who's boss.
     
  34. Paul Anthony

    Paul Anthony Well-Known Member

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    Well, seems they've gambled all in on that being the case. I hope to high heaven that you're right.
     
  35. lapsed_skyblue

    lapsed_skyblue Active Member

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    The last time adminstration was used SISU controlled it and only put one part of the company structure through the process. They also managed to kill dead any investigations as to whether assets had been moved around in preparation for administration.
    This time round they probably want to get unfettered access to the one tangible asset they have, Ryton. This could well be easier if CCFC was no longer a going concern and the question of commitments to continue the Academy were no longer on the table. Yes, players contracts have value but the League rules as to preference to footlball creditors could be a drawback.
    Does the current company structure give SISU options?
    Selling CCFC as a going concern will not be a quick process. So, i wouldn't rule out liquidation. It's down to SISU decding which gives them the quickest and/ or least expernsive exit. After all much of their "investment" is already effectively lost.
     

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