James Smith
Well-Known Member
If you're right and they did make a lowball offer for the Freehold of the Ricoh then that sort of sums up their approach to the club, the fans etc. Lowball.
Last edited:
CVA not agreed (1 Viewer)
- Thread starter ericagradus
- Start date
James Smith
Well-Known Member
If you're right and they did make a lowball offer for the Freehold of the Ricoh then that sort of sums up their approach to the club, the fans etc. Lowball.
WiganSkyBlue
Member
hill83
Well-Known Member
!!!!!!!!!!!How!!!!!!!!!!!!!Do!!!!!!!!!!!You!!!!!!!!!!!!Know!!!!!!!!!!!!!!!!This!!!!!!!!!!!!!!!!!!For!!!!!!!!!!!!!!Certain!!!!!!!!!!!!!!!!!!!!!!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
SkyBlue_Bear83
Well-Known Member
He doesn't its just something he has made up to justify the loss of 15 points and rejecting the CVA to make him feel better
SkyBlue_Bear83
Well-Known Member
This actually reminds me of last season when everyone was begging for administration to solve all our problems
Well that's worked out well so far hasn't it
Well that's worked out well so far hasn't it
SkyBlueCharlie
Well-Known Member
There have been many questions on here about the process of liquidation and who takes on the investigation. From my experience, assuming that CCFC Ltd is wound up through a court order, (Compulsory Liquidation) then the Official Receiver (or his appointee) is responsible for the liquidation process. One of his prime duties is to investigate and report upon the reasons for the companies failure and I think it would be this independent forensic examination that Sisu will want to avoid.
Compulsory Liquidation can be requested by ANY creditor owed more than £750 so it would appear that the liquidation process could be forced by ACL if they so desire.
There is a lot more about here if you have the time and energy to read it: http://www.companieshouse.gov.uk/about/gbhtml/gpo8.shtml#ch4
Compulsory Liquidation can be requested by ANY creditor owed more than £750 so it would appear that the liquidation process could be forced by ACL if they so desire.
There is a lot more about here if you have the time and energy to read it: http://www.companieshouse.gov.uk/about/gbhtml/gpo8.shtml#ch4
about the only thing I'm feeling happy about in this whole damn mess is my £100 bet at 7-1 for us to get relegated looks good right about now. I'd never normally bet against us but 7-1 was too good to pass up when it always looked like things were going to get worse before they get better. Will pay for a couple of season tickets in the future if/when things get sorted.
jesus-wept
New Member
Admittedly I know little about how liquidation works. We had a company just slam it's doors out of the blue locally at the weekend, I assume is now liquidated or going to be, what is the difference between doing that and what an administrator can do ? and could sisu do the same >
RegTheDonk
Well-Known Member
The council are not trying to screw our club up. The council are trying to ensure ratepayers money isn't flushed down the bog by letting bandits get away with corporate murder. If you think signing the CVA would have led to playing at the Ricoh, why HAVEN'T ACL signed? Surely its the in the best interests of ACL and CCFC?
No, you're off your head mate if you expect us to be playing at the Ricoh just because the CVA gets signed. There's too much going on for it to be that simple and its the fault of BOTH the council and SISU.
As for Robins, were any of his dealings with the council or just what uncle Tim and auntie Joy told hi? Get real, my daughter is having some probs with her husband at the moment, but do you think I believe everything she says? Oh and don't think cer-ching, I'll tell her to get a sane family solicitor if it comes to that.
skybluesam66
Well-Known Member
the trouble is by in effect mothballing a stadium they will achieve what they are trying to avoid
oldskyblue58
CCFC Finance Director
Got 2 questions. Not aimed at one side or another
If there is evidence of fraud, illegality, directors negligence, misrepresentation, etc are there reports with supporting evidence made to the SFO, Police, HMRC, Other government depts?
Why do we have to await the outcome of a CVA and appointment of a liquidator or the judicial review results?
Wouldnt expect either ACL or SISU to answer those questions as it would prejudice investigations and possibly breach money laundering / proceeds of crime regulations btw
But surely serious wrong doing doesnt require a liquidator/administrator to investigate
If there is evidence of fraud, illegality, directors negligence, misrepresentation, etc are there reports with supporting evidence made to the SFO, Police, HMRC, Other government depts?
Why do we have to await the outcome of a CVA and appointment of a liquidator or the judicial review results?
Wouldnt expect either ACL or SISU to answer those questions as it would prejudice investigations and possibly breach money laundering / proceeds of crime regulations btw
But surely serious wrong doing doesnt require a liquidator/administrator to investigate
RegTheDonk
Well-Known Member
Joy has told appleton to get his cart moving then?
Sky Blues
Active Member
If an investigation was done by a liquidator/administrator and that person were, for the sake of argument, to find something out of place, would they have the power to restore it to its rightful place in a way that would not be possible if it were dealt with by someone like the police?
fernandopartridge
Well-Known Member
Like NorthernWisdom has already pointed out, the not signing the CVA for the purpose of an 'investigation' is a complete red herring.....
Like I said yesterday, it didn't do Craig Whyte much harm
chiefdave
Well-Known Member
For the police to get involved would require ACL, or anyone else for that matter, to present them with pretty clear evidence that the law is being broken. If a liquidator comes in, who I believe is independent, he would have a much greater level of access to information than the likes of ACL which may reveal incriminating information. Of course you can never be certain of an outcome but I would assume ACL have lawyers and accountants advising them and will have a reason for turning down a CVA if they do. Doesn't mean to say that the reason for turning down the CVA has to be because they want further investigation.
Sky Blue Kid
Well-Known Member
Don't shaft the fans...Don't sign the CVA
SkyBlueCharlie
Well-Known Member
Administration is all about trying to keep the business in existence...selling it as a going concern. Liquidation is saying 'we've had enough of this' and just closing down. Any saleable asses are sold off and the proceeds distributed amongst the creditors/shareholders.
SkyBlueCharlie
Well-Known Member
It will do unless there is some evidence already available in the public domain, how else will it come out?
NorthernWisdom
Well-Known Member
Of course it doesn't.
SkyBlueBlood
Member
Why no chance of returning to the Ricoh? Not being funny just don't understand why you think that.
NorthernWisdom
Well-Known Member
It's going to boil down to, simply, whether ACL feel the CVA is in their best interests.
If it isn't then they won't sign, and of course as a business they shouldn't.
Doesn't need a conspiracy theory in there however.
duffer
Well-Known Member
Is that the same Craig Whyte who has been deemed not fit and proper to own a football club?
http://www.bbc.co.uk/sport/0/football/17302801
The one who the courts have found personally liable for £17.7m:
http://www.scotsman.com/news/scotla...bing-craig-whyte-s-rangers-takeover-1-2984378
Imagine the ramifications if something like that happened to our shadow director, Joy Seppala.
VisitingPie
New Member
As a notts fan, after the Munto finance fiasco, we were promised investigations, prosecutions, the lot. The most we got was a half hour documentary on the bbc. The serious fraud squad were supposed to be brought in, but it all eventually died a death. I'd worry that would be the same for any investigation into sisu. Having read quite a bit about all this (although obviously I'm not as up to speed as you all are), it sticks in my throat that Sisu may get the ground and all the match day revenue for a snip after the way they've treated you. But the alternative seems even worse. If you're liquidated won't you have to start at the bottom of the pyramid like Rangers?
I think a club the size of Coventry would survive relegation to league 2, but I'm not so sure 5 or more years in non league would be the same story. Lots of fans wouldn't attend, especially playing in Northampton, and once people get out of the habit of going for many years it can be hard to get them back. So, for your sakes, I hope that Joy Seppala and Ann Lucas are able to strike up some sort of discourse/deal that suits both parties and you can get back to playing at the Ricoh and start building a team. Good luck!
I think a club the size of Coventry would survive relegation to league 2, but I'm not so sure 5 or more years in non league would be the same story. Lots of fans wouldn't attend, especially playing in Northampton, and once people get out of the habit of going for many years it can be hard to get them back. So, for your sakes, I hope that Joy Seppala and Ann Lucas are able to strike up some sort of discourse/deal that suits both parties and you can get back to playing at the Ricoh and start building a team. Good luck!
italiahorse
Well-Known Member
Can we change the name of this thread.
It's not right ..................... yet
It's not right ..................... yet
NorthernWisdom
Well-Known Member
Yeah Whyte isn't the best example.
http://www.scotsman.com/news/scotla...bing-craig-whyte-s-rangers-takeover-1-2984378
I'd hope however that any basis for an investigation would be actual evidence, rather than a hunch or because we don't like people!
http://www.scotsman.com/news/scotla...bing-craig-whyte-s-rangers-takeover-1-2984378
I'd hope however that any basis for an investigation would be actual evidence, rather than a hunch or because we don't like people!
Sky Blues
Active Member
At the minute they are talking about liquidating CCFC Ltd, not CCFC Holdings or any of the other companies associated with the club. It appears from what we are hearing that the company called CCFC Ltd will disappear whatever the decision about the CVA - but that does not necessarily mean the football club will cease to exist...
With reference to Craig Whyte, here is a quote from The Scotsman:
"The current investigation was launched following discussions by fraud officials about possible criminal misconduct. Any evidence found by the Insolvency Service can be given to prosecutors".
How long before we see something similar written in the CET with reference to ownership of CCFC?
"The current investigation was launched following discussions by fraud officials about possible criminal misconduct. Any evidence found by the Insolvency Service can be given to prosecutors".
How long before we see something similar written in the CET with reference to ownership of CCFC?
VisitingPie
New Member
So that would mean the lease that ACL hold with Ltd to play at the Ricoh would be null and void, or rather will be null and void no matter if the CVA is agreed or not? So ACL are basically shafted whatever they do and therefore may as well accept the CVA as it means they will get over 500k whereas if they don't they get a pittance? Unless of course Joy/Ann are able to negotiate a new lease on better terms for Sisu.
italiahorse
Well-Known Member
It's a risk but I now say sign the CVA.
I think the fans have shown SISU with the march last week and by not buying season tickets what needs to happen.
If they choose not to do anything about it, then we could not have prevented club going into oblivion anyway.
Perhaps aligning the club presents other opportunities as potential buyers can now see what they are buying.
Hopefully at the meeting SISU will show ACL some light.
I think the fans have shown SISU with the march last week and by not buying season tickets what needs to happen.
If they choose not to do anything about it, then we could not have prevented club going into oblivion anyway.
Perhaps aligning the club presents other opportunities as potential buyers can now see what they are buying.
Hopefully at the meeting SISU will show ACL some light.
Sky Blues
Active Member
I have no idea what the situation is for ACL, but say, for argument's sake, ACL are thinking of taking legal action against Sisu/Otium regarding the lease (which had 42-odd years to run at £1.2m a year): Could that potentially be worth more to them than the CVA if they win and could accepting the CVA kill such an action before it starts?
I don't know if it is a feasible scenario in reality - I am just throwing out an example of the kind of deliberations that might be facing ACL.
italiahorse
Well-Known Member
An offer for the old lease to be reduced was given by ACL earlier in the year. Hopefully in the negotiations today ACL will agree the CVA and SISU will agree on a new lease.
Hopefully last weeks secret negotiations were working towards this and today is just dotting the i's and crossing the t's.
Maybe because this was the plan rumours leaked out.
SISU would also need to drop the Judicial review.
Fingers crossed.
fernandopartridge
Well-Known Member
Fit and proper to run a football club? Oh dear.....that'll hurt.
