Guy on twitter claims to have a reply from league confirming Otium have been rejected (2 Viewers)

Forums New posts
G

Godiva

Well-Known Member
If there actually exist such a letter I wouldn't be surprised if it state that Otium (or sisu or Holdings) has not (yet) been accepted as fit and proper.
I can't see why FL would provide an individual outside the club with sensitive information as 'a failed test' would be.
 
N

Noggin

New Member
He just tweeted again, sounds like an e-mail not a letter and are to fail and have failed are not the same thing.

@CityCoventry @TheSkyBlueTrust I'm at work at moment, basically email says the FL believe Otium are to fail the leagues insolvency procedure
 
R

RoboCCFC90

Well-Known Member
Not too but dampner's on this or to knock the credibility of the Tweeter, but just bare in mind Kurt Drago.

That is all.
 
Evo1883

Evo1883

Well-Known Member
SkyBlueHomer said:
Whilst this would be good news, if it is true where would this leave us regarding the new season, don't forget 6 weeks to go.

We would have no owners, no ground to play in, FL hanging onto the golden share, unable to sign players, unable to satisfy FFP rules.
Would the administrator be able to put a deal together with ACL to play for the season & keep us in Coventry for this season minimum & the bidding process have to start over again & keep FL happy so we can at least start the season.
Click to expand...
there is no doubt the administrator made the wrong choice to begin with ,the blame should lie at his doorstep
 
W

wingy

Well-Known Member
Otis said:
Why on earth would this be announced on Twitter?

:thinking about:
Click to expand...

Remember PSGM 1 Put his reply out on here,while others were in the loop but were remaining silent for obvious reasons I can't recall currently ,Cofastreetcity posted something up last night that maybe suggested a bit of inside info along these lines.:wave:
 
Sub

Sub

Well-Known Member
wonder if this is why the silence has been deafening from all parties ACL, SISU, Council and PH4 :thinking about::thinking about:
 
D

Dhinsa's_Millions

Well-Known Member
I would love this to be true from a long term club perspective - However,I'm treating the 'news' with caution! Surely Otium haven't passed the fit and proper persons test at present! I hope this isn't just an update on what the current state of play is!

SISU appear to be devious, clever (when it comes to litigation not running a football club) and I'm sure they won't give up. Expect a long winded court wrangle if this is true!
 
D

dadgad

Well-Known Member
CraigSBA said:
there is no doubt the administrator made the wrong choice to begin with ,the blame should lie at his doorstep
Click to expand...

Too TRUE.

He had a responsibility to make the BEST choice for the business going forward.

He clearly failed in this regard.

An abject dereliction of duty.
 
Perryccfc

Perryccfc

Well-Known Member
If they do fail and the club is put back up for sale, could they bid again? Maybe even under a different guise again?
 
RegTheDonk

RegTheDonk

Well-Known Member
jon92 said:
I think the football league would make it official before they told just one person and normally les reid would break the news
Click to expand...

Or the administrator. And the other bidders. Surely one of them would break this news first?

I don't doubt the guy, and I hope it's all above board - unless someones sent him a fake mail pretending to the FL?

This bloody place has more twists than a whodunnit novel.
 
Sub

Sub

Well-Known Member
Perryccfc said:
If they do fail and the club is put back up for sale, could they bid again? Maybe even under a different guise again?
Click to expand...

will not make any difference even if they do seen as they still will not have a ground to play at ;)
 
N

Noggin

New Member
Perryccfc said:
If they do fail and the club is put back up for sale, could they bid again? Maybe even under a different guise again?
Click to expand...

They presumably could bid again but surely Appleton couldn't pick them again not while having any appearance of credibility anyway.
 
Warwickhunt

Warwickhunt

Well-Known Member
If Opium are not accepted then if we do come out of administration with anyone else we will get a 15 point deduction for not coming out of administration correctly as there is No way SISU/AVRO etc will come to amicable agreement of the bid.
 
N

Noggin

New Member
NorthernWisdom said:
Or it's wishful thinking and he's reading what he wants to read into vague statements.
Click to expand...

It's probably the most likely scenario, which is why we needed to see it. The football league has stringent standards that must be met before we grant the league share, at this point these standards have not yet fully been met. I can see them having said something along those lines.
 
Sub

Sub

Well-Known Member
Warwickhunt said:
If Opium are not accepted then if we do come out of administration with anyone else we will get a 15 point deduction for not coming out of administration correctly as there is No way SISU/AVRO etc will come to amicable agreement of the bid.
Click to expand...


we are still in administration so would the point deduction still apply ??
 
N

Noggin

New Member
Sub said:
we are still in administration so would the point deduction still apply ??
Click to expand...

the deduction would be for coming out of administration without a cva, so whenever that happens (if it did) we would likely get a further punishment.
 
mattylad

mattylad

Member
Warwickhunt said:
If Opium are not accepted then if we do come out of administration with anyone else we will get a 15 point deduction for not coming out of administration correctly as there is No way SISU/AVRO etc will come to amicable agreement of the bid.
Click to expand...
Its a price worth paying
 
N

Noggin

New Member
I don't really understand how you can come out of admin without a cva? surely if the creditors don't accept the agreement then you don't leave admin and instead face being liquidated? or am I miss understanding that? if thats the case the sisu probably would accept a cva (I know getting miles ahead of the situation here) as it's likely a bid would give them more money than liquidating would.
 
chiefdave

chiefdave

Well-Known Member
Noggin said:
I don't really understand how you can come out of admin without a cva? surely if the creditors don't accept the agreement then you don't leave admin and instead face being liquidated? or am I miss understanding that? if thats the case the sisu probably would accept a cva (I know getting miles ahead of the situation here) as it's likely a bid would give them more money than liquidating would.
Click to expand...

A CVA is basically what you're going to pay back. If the only creditor (apart from SISU related companies) is ACL and they are paying them in full I guess that removes the need for a CVA, or maybe there will be a CVA but the only people who need to agree it are SISU.
 
duffer

duffer

Well-Known Member
The chap in question is saying he'll have the email uploaded in the next hour... the tension builds ;)
 
Kneeza

Kneeza

Well-Known Member
There will be a lot of crossed fingers in (the) Coventry (area) at the moment.
However, should this be true, would Mr Appleton be allowed to carry on as the administrator of the smoking remnants of the Club?
Surely, as someone who can be easily identified as a complete failure in relation to the task that he was set, he too must be seen as 'not fit and proper'?

Or, as someone else said, is there a dire shortage of testes & backbone at the moment?
I think I know the answer....
 
torchomatic

torchomatic

Well-Known Member
While I think we all agree on this. It is probably more important what he in law was correct. PH4 himself said PA had done everything by the book. It just wasn't what we as fans wanted.

dadgad said:
Too TRUE.

He had a responsibility to make the BEST choice for the business going forward.

He clearly failed in this regard.

An abject dereliction of duty.
Click to expand...
 
G

Godiva

Well-Known Member
Noggin said:
I don't really understand how you can come out of admin without a cva? surely if the creditors don't accept the agreement then you don't leave admin and instead face being liquidated? or am I miss understanding that? if thats the case the sisu probably would accept a cva (I know getting miles ahead of the situation here) as it's likely a bid would give them more money than liquidating would.
Click to expand...

In this case there are only two real creditors - ARVO and ACL. The current bid is suggested to pay off ACL in full - all £650k, so that should leave ACL with no grounds for not accepting (there's the compensation on the remaining of the lease to complicate things, but for the argument say there isn't). So the current bid should mean an exit where all creditors accept the terms and conditions. No points penalty.

If Otium is not 'Fit and Proper' and - for the argument - no other sisu companies are acceptable, then the administrator can sell to another bidder like PH4. This is where sisu may get a bit annoyed and refuse to leave the administration with CVA. The sale will still be executed but the club will be 'rewarded' with a 15 point penalty.
 
N

Noggin

New Member
chiefdave said:
A CVA is basically what you're going to pay back. If the only creditor (apart from SISU related companies) is ACL and they are paying them in full I guess that removes the need for a CVA, or maybe there will be a CVA but the only people who need to agree it are SISU.
Click to expand...

I'm saying if Otium are not fit and proper, there is another bid and we sell to them, people are saying we will get a 15 point deduction because sisu wouldn't accept a cva, im saying how can you come out of admin without a cva? as that means the creditors don't accept what you are willing to pay and so you would surely be liquidated, which means actually sisu probably would accept a cva or am I misunderstanding?
 
Kneeza

Kneeza

Well-Known Member
He may have done it 'by the book' but he didn't do it RIGHT (if, as the rumour goes, the FL will reject his findings).
 
You must log in or register to reply here.

Users who are viewing this thread

Total: 3 (members: 0, guests: 3)
Top