Club Statement (1 Viewer)

torchomatic · Jun 2, 2014

We would like once again to reassure fans that the Club will honour its obligation to the Football League. It is totally wrong to suggest otherwise. We have undertaken to the League to pay ACL the amount that is legally owed to them.

ACL rejected this payment, which they could have received last summer, in order to start a liquidation process and cause a points deduction. So the only person who can determine the correct amount to be paid is the liquidator.

As instructed by the League, the Club has already paid a large sum of money into an escrow account, ready for payment to ACL as soon as the correct number has been calculated.

There is some uncertainty as to the correct amount because it appears that ACL may already have been paid monies under personal guarantees, which amounted to £500,000. If this is the case, there is a risk that they might be paid twice over. As soon as this uncertainty is resolved, the correct sum can be determined and released to ACL from the escrow account.

Read more at http://www.ccfc.co.uk/news/article/...eague-020614-1592169.aspx#TyqVTqdvbvEkxcJY.99

Nick · Jun 2, 2014

So it has been paid but not given to acl yet

ohitsaidwalker king power · Jun 2, 2014

To quote Baldrick... "a twisty turny thing..."

torchomatic · Jun 2, 2014

Seems so.

Nick said:
So it has been paid but not given to acl yet

Skyblueweeman · Jun 2, 2014

Seems like they've played by the book in this instance, according to FL instruction.

However the validity of FL instructions holds as much weight as David Icke and his relationship to the big man in the sky...

WM

jimmyhillsfanclub · Jun 2, 2014

does no-one ever keep their receipts anymore.....do any of the jokers from any of the paries involved have the faintest idea what day it is, let alone whats going on...

....This whole saga is beyond embarrassing....

I wouldn't trust anyone from SISU, ACL, the FL or CCC to take a dump in a toilet without getting shit on the walls & flooding the place....pathetic...the lot of them.

Kingokings204 · Jun 2, 2014

Nick said:
So it has been paid but not given to acl yet

so not paid then?:thinking about:

Jim · Jun 2, 2014

I thought we had already established that the monies paid from personal guarantees were only £300k and also nothing to do with the £590k that CCFC have been told to pay. The value was set by the league after the rejection of the CVA as a requirement for issuance of the golden share.

Why suddenly this posturing by the club? (This is a rhetorical btw given SISU's past behaviour.....)

Hobo · Jun 2, 2014

Nick said:
So it has been paid but not given to acl yet

So if I owed you money, then gave an undisclosed sum of money to a third party so I could continue debating how much I owed you, you would feel the debt had been paid?

I am not taking sides on this one, as the scenario is a messy one. The FL have set something that is very woolly. I'm sure SISU realised it at the time and banked it for later. But what you said is an over simplification of the situation by trying to defend SISU yet again.

Rusty Trombone · Jun 2, 2014

If they had paid the full amount over they would say so, they say 'large sum', the implication being not the full amount. What is large to some people is not large to others, my girlfriend can confirm this.

sky blue john · Jun 2, 2014

Hobo said:
So if I owed you money, then gave an undisclosed sum of money to a third party so I could continue debating how much I owed you, you would feel the debt had been paid?

I am not taking sides on this one, as the scenario is a messy one. The FL have set something that is very woolly. I'm sure SISU realised it at the time and banked it for later. But what you said is an over simplification of the situation by trying to defend SISU yet again.

Nick has used the night is day theory !!

Grendel · Jun 2, 2014

I wonder if Higgs or the council owed £590,000 to the club and it was discovered the club then had secured £300,000 from PWKH and Lucas what the reaction would be?

Astute · Jun 2, 2014

Grendel said:
I wonder if Higgs or the council owed £590,000 to the club and it was discovered the club then had secured £300,000 from PWKH and Lucas what the reaction would be?

Do you mean like about 6 months ago when CCC owed SISU money? They paid up instead of trying to get away without paying in full. And they never made it known in public they had paid either. They just did the right thing.

jimmyhillsfanclub · Jun 2, 2014

Grendel said:
I wonder if Higgs or the council owed £590,000 to the club and it was discovered the club then had secured £300,000 from PWKH and Lucas what the reaction would be?

...I should imagine a bunch of blokes with clearly too much time on their hands & who probably should be working instead of wasting their time on here would argue for about 12 pages before dropping it like a hot turd as the next dullfest of a financial non-story hit the top of the forum posts....

CovFan · Jun 2, 2014

Astute said:
Do you mean like about 6 months ago when CCC owed SISU money? They paid up instead of trying to get away without paying in full. And they never made it known in public they had paid either. They just did the right thing.

Careful, he'll probably call you a council stooge for saying that.

RFC · Jun 2, 2014

Grendel said:
I wonder if Higgs or the council owed £590,000 to the club and it was discovered the club then had secured £300,000 from PWKH and Lucas what the reaction would be?

I'm sure if you look at the history CCC owe both CCFC & the Alan Higgs Trust a considerable amount of money but they kept it all!

Managed to get out of it by quoting a technicality.

Personally I believe it to be totally impossible to believe any of the statements made by any of the parties involved.

D-Day 8 days way & counting! PUSB

Evans1883 · Jun 2, 2014

is there anything done simply by these idiots

shmmeee · Jun 2, 2014

RFC said:
I'm sure if you look at the history CCC owe both CCFC & the Alan Higgs Trust a considerable amount of money but they kept it all!

Managed to get out of it by quoting a technicality.

Personally I believe it to be totally impossible to believe any of the statements made by any of the parties involved.

D-Day 8 days way & counting! PUSB

Care to elaborate?

Ever?

Also: Did I just witness RFC say he doesn't believe any statements from Sisu, a day after claiming the stadium will happen because he's been told so?

Grendel · Jun 2, 2014

Astute said:
Do you mean like about 6 months ago when CCC owed SISU money? They paid up instead of trying to get away without paying in full. And they never made it known in public they had paid either. They just did the right thing.

Really? Isn't the whole delay in liquidation because the council haven't yet paid the club money owed?

Grendel · Jun 2, 2014

shmmeee said:
Care to elaborate?

Ever?

Also: Did I just witness RFC say he doesn't believe any statements from Sisu, a day after claiming the stadium will happen because he's been told so?

£60 million I would guess.

RFC · Jun 2, 2014

shmmeee said:
Care to elaborate?

Ever?

Also: Did I just witness RFC say he doesn't believe any statements from Sisu, a day after claiming the stadium will happen because he's been told so?

Because so many disbelievers on here I would suggest you research it for yourself, then you'll know whether it's correct or not.

RFC · Jun 2, 2014

RFC said:
Because so many disbelievers on here I would suggest you research it for yourself, then you'll know whether it's correct or not.

What I said was, "Idon't believe any of the statements made by ANY of the parties involved".

Is that crystal clear now?

Astute · Jun 2, 2014

CovFan said:
Careful, he'll probably call you a council stooge for saying that.

It wouldn't be the first time.

Astute · Jun 2, 2014

Grendel said:
Really? Isn't the whole delay in liquidation because the council haven't yet paid the club money owed?

Do you mean that money paid to SISU at the start of the year?

sky blue john · Jun 2, 2014

Grendel said:
I wonder if Higgs or the council owed £590,000 to the club and it was discovered the club then had secured £300,000 from PWKH and Lucas what the reaction would be?

Lmfao !!
In relation to what ????

Nick · Jun 2, 2014

Hobo said:
So if I owed you money, then gave an undisclosed sum of money to a third party so I could continue debating how much I owed you, you would feel the debt had been paid?

I am not taking sides on this one, as the scenario is a messy one. The FL have set something that is very woolly. I'm sure SISU realised it at the time and banked it for later. But what you said is an over simplification of the situation by trying to defend SISU yet again.

Has it left their bank account?

Astute · Jun 2, 2014

RFC said:
What I said was, "Idon't believe any of the statements made by ANY of the parties involved".

Is that crystal clear now?

So you are saying that you don't believe any statement that SISU make but you believe the statements they make when it is about building a new stadium? :facepalm:

chiefdave · Jun 2, 2014

Grendel said:
Really? Isn't the whole delay in liquidation because the council haven't yet paid the club money owed?

Coventry Telegraph said:
A council spokesman said: “Coventry City Council paid the business rate rebate in full to Otium’s legal firm in January. The cheque was cashed on January 30, 2014.

shmmeee · Jun 2, 2014

RFC said:
Because so many disbelievers on here I would suggest you research it for yourself, then you'll know whether it's correct or not.

Sorry, you made the claim. It's your job to back it. I have literally no idea what to even start looking for as your claim was so vague. At least a link to start me off?

RFC said:
What I said was, "Idon't believe any of the statements made by ANY of the parties involved".

Is that crystal clear now?

No. Sorry, maybe it's your style of writing. Did you say that you don't believe statements made by ANY of the parties involved, meaning you don't believe statements by Sisu as well? If this is the case, do you mean just regarding that particular situation or all situations? If just a particular situation, is that because of some evidence? IF so what evidence?

Do you see the questions you leave unanswered. There are so many "unbelievers" as you put it, because you fail to make your point effectively. This is simply a request for clarification.

Hobo · Jun 2, 2014

Nick said:
Has it left their bank account?

That is not proof of payment, how naive are you?

Nick · Jun 2, 2014

Hobo said:
That is not proof of payment, how naive are you?

Yes, I am saying they have paid it into the Escrow.

Now they just need to get the amount confirmed and then it can be released by whoever the Escrow is with.

It isn't being naive, it has been paid into the Escrow hasn't it? Just because I am not getting angry calling them wankers and saying "Just leave SISU".

Astute · Jun 2, 2014

Nick said:
Has it left their bank account?

Has how much left their bank account? He said a large amount and not the full amount. He is trying to say that 500k has been paid for them by others although we all know it was 300k, and this was for rent and not everything that the agreement with the FL were on about it looks like, for instance for breaking the rental agreement. Does this mean they have put 90k in?

If the FL have told them that THEY have to pay 590k to keep the golden share do you think that they have a good valid reason for arguing over how much it should be? What would be wrong with paying and getting it back if it shouldn't have been paid? Like when they got a rebate off CCC at the start of the year that they kept quiet.

Sub · Jun 2, 2014

The big concern for me is it is always left till the last minute so things can and will go wrong which puts the club at the threat of more sanctions, and that can only be blamed on the owners just like submitting the books late and getting a transfer embargo

Nick · Jun 2, 2014

Astute said:
Has how much left their bank account? He said a large amount and not the full amount. He is trying to say that 500k has been paid for them by others although we all know it was 300k, and this was for rent and not everything that the agreement with the FL were on about it looks like, for instance for breaking the rental agreement. Does this mean they have put 90k in?

If the FL have told them that THEY have to pay 590k to keep the golden share do you think that they have a good valid reason for arguing over how much it should be? What would be wrong with paying and getting it back if it shouldn't have been paid? Like when they got a rebate off CCC at the start of the year that they kept quiet.

They didn't keep the rebate quiet, people knew about it it just wasn't reported.

I have no idea how much has left, neither do you.

sky blue john · Jun 2, 2014

Nick said:
Yes, I am saying they have paid it into the Escrow.

Now they just need to get the amount confirmed and then it can be released by whoever the Escrow is with.

It isn't being naive, it has been paid into the Escrow hasn't it? Just because I am not getting angry calling them wankers and saying "Just leave SISU".

Who paid it into the escrow Otium or Appleton ?

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