Isn't it all academic though? Would any of the other bidders really have been in a position to offer a better deal to creditors than SISU/Otium - regardless of what assets were in Ltd?
I suspect not, although we cannot know for sure, so an interesting development, albeit one that makes the whole situation even messier.
In your opinion what will come
Of this realistically ???
Because its shows their administration process is not fit for purpose. What implications does their incompetence have on other clubs?Why would the FL be reluctant to say when the registrations were moved?
Would like to think that a new administration process now has to be completed. I would also guess that Mr Appleton is some what "tainted" by what has gone on even if he has done nothing wrong (I no evidence he has broken any law or regulation) so I would hope a new administrator appointed. However it will not be a quick process because it may well require legal action to get assets back from Otium etc, or even to restart the administration process. But it could mean CCFC back in Coventry sooner than 3 to 5 years. However it might mean a bloody big battle to do it. Of course SISU could bid again and we are back to square one but if there is a bidder able to prove greater long term income say at the Ricoh that can fund a CVA then SISU have a problem.
Toughest battle will be getting the process restarted - SISU will fight tooth and nail to stop that
I think the FL have serious problems and this could lead potentially to a shake up of football governance generally which in my opinion is well over due
Still a long way to go I am afraid
Why would the FL be reluctant to say when the registrations were moved?
Yes FL are admitting mistakes, but they have not said player contracts had been transferred!
So maybe sisu/TF actually never did transfer or move assets from limited to Holdings. Maybe only new players were registered in Holdings? I think I remember there were a tiny sum listed in limited as player or staff contracts, and I assumed those would be the players on old - long - contracts like McSheff and Bell.
Would another investor, be it Preston IV or similar champion such a cause do you think.. if not, who would/could challenge- ACL-CCC- The Higgs Trust?
FL should take back GS in relation to this revelation & a new administration should be ordered..
Would like to think that a new administration process now has to be completed. I would also guess that Mr Appleton is some what "tainted" by what has gone on even if he has done nothing wrong (I no evidence he has broken any law or regulation) so I would hope a new administrator appointed. However it will not be a quick process because it may well require legal action to get assets back from Otium etc, or even to restart the administration process. But it could mean CCFC back in Coventry sooner than 3 to 5 years. However it might mean a bloody big battle to do it. Of course SISU could bid again and we are back to square one but if there is a bidder able to prove greater long term income say at the Ricoh that can fund a CVA then SISU have a problem.
Toughest battle will be getting the process restarted - SISU will fight tooth and nail to stop that
I think the FL have serious problems and this could lead potentially to a shake up of football governance generally which in my opinion is well over due
Still a long way to go I am afraid
Because if it went on for years then that indicates pretty poor governance at a time they at trying to prove to the select committe they are fit for purpose
If it all happened in the last 18 months to 2 years it kind of says they were complicit in what was going on even if innocently.
either way it doesnt look good
Of course the information as specifically relating to CCFC and players could be classed as confidential leagally pending any court actions so releasing details might prejudice that
Could Appleton have demanded this information (by law)?
(if he didn't already know the answer of course..)
This might have already been mentioned but I wouldnt be surprised if sisu have threatened legal action against the football league if things hadnt worked out their way.
Firstly when the original company was split it was done with written approval from the FA and FL. In which case everyone knew where the share and it was in CCFC Ltd. When they got relegated it would have been CCFC Ltd that exchanged the share with I think Fulham as they went up. In 2008 when SISU took over there are Board minutes stating they knew where the share was in CCFC ltd. The FL have also confirmed that in March 2013 the share resided in CCFC Ltd until they took it back. Dont think there was any real confusion
If acl reverse the decision for a new cva to be created via a new administration process then club gets 10pts back.
If club stays in admin until next season then there will be a deduction.
Clearly a judge would say to Appleton he needs to carry out the process again based on facts of knowing what assets are in CCFC ltd. On that basis potential buyers can base their bids and business case.
As mentioned before. Sisu could have scored an own goal here by moving the club to Northampton.
If a new admin round started, what would the administration do of Haskell owned acl and reunites the club and stadium? Acl debt is clear and a sustainable plan to play at Ricoh who income. The Haskell purchases assets from CCFC ltd.
Sisu have stuck the club at a ground 30miles away.
Suddenly sisus business case looks weak.
Basically what football league has admitted is that this admin process should have been like any other club but it hasn't due to incompetence.
This has just got very interesting.
The problem with your statement is you said the FA and the FL new, well didn't they also know that the players were in CCFC Ltd?? Obviously not as said in earlier statement. My point is if they could make that mistake could they also have made a mistake with the GS?? If you are saying it was with Ltd and not holdings in 2001 when we got relegated where can we see the evidence to prove this?? I think this is why an investigation into this, is what SISU have said they would like as no one after today's admittance by the FL could believe where anything is.
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