Clarification of admin situation (1 Viewer)

[Lambo58]

Can some one clear this up please?

So can a takeover only take place if we are deemed not financially stable enough? So can we only get taken over if we enter administration?

And even if we do get taken over, will we still get the 10 point deduction?

 

---

[DazzleTommyDazzle]

A takeover can happen at any time, but it requires the buyer and seller to reach agreement on price.

If we go into administration, any potential buyer will have to deal with the administrator rather than SISU. Some people may believe that this would make a deal more likely.

We get a 10 point deduction if we go into administration - any change of ownership would not be relevant to this.

 

[chiefdave]

my understanding (based purely on what's been going on down here at Portsmouth) is ACL have made the application and they can therefore propose an administrator, SISU can object and / or propose an alternative administrator or the court can appoint anyone else they feel like. I can't see how any court we sell CCFC is a viable business as it is now so admin seems pretty nailed on unless someone backs down. From there the administrator has 2 jobs, one to get a return for the creditors (I imagine SISU will be far the biggest) and sell the company whole as a viable business. If they feel there isn't a viable business or a serious buy they will liquidate to recover the maximum amount possible for the creditors.

that's just my understanding tho, could be wrong - I'm far from an expert!