High Court Match Thread (10 Viewers)

oldskyblue58 · Mar 26, 2013

sky blue john said:
It was mentioned that next seasons ticket sales have already been borrowed against by Sisu.
Has Ryton got a mortgage against it or an Arvo charge which is the same thing its been borrowed against.
With these things in mind both ccfc ltd and ccfc holdings must both be working insolvent !!

The ryton land is included in the ARVO charge SBJ

Pete in Portugal · Mar 26, 2013

oldskyblue58 said:
The ryton land is included in the ARVO charge SBJ

OSB - Am I right in thinking that ARVO are 'preferential' creditors, (compared to ACL), because of the nature of this 'charge'? And that this means that the Administrator is duty bound to act in the interests of ARVO, which is more or less owned/controlled by SISU?

oldskyblue58 · Mar 26, 2013

ARVO are secured creditors. The administrators should act in best interests of all creditors but as appointed by ARVO will look to protect their interests within the duties he has. Being secured then ARVO gets first claim on any assets listed, including any debtors, land, leases, money etc

Sky Blues · Mar 26, 2013

oldskyblue58 said:
ARVO are secured creditors. The administrators should act in best interests of all creditors but as appointed by ARVO will look to protect their interests within the duties he has. Being secured then ARVO gets first claim on any assets listed, including any debtors, land, leases, money etc

OSB didn't you see a list of the ARVO secured items? Was the Golden Share on it?

Mary_Mungo_Midge · Mar 26, 2013

mark82 said:
If Haskell can't afford to buy the club without admin why is everyone getting so excited about him?

Maybe it's nothing to do with money, but he (or any interested party for that matter) feels that to buy from SISU, or their chosen administrators, would be a frustrating exercise akin to juggling soot; whereas more candid and meaningful administrator would be easier to complete the transaction through?

Sky Blues · Mar 26, 2013

Time for kick-off should be about now. The High Court is a sell out apparently. Standing room only.

covcity4life · Mar 26, 2013

has anyone got a live stream?

Danceswithhorses · Mar 26, 2013

covcity4life said:
has anyone got a live stream?

telegraph blog ok ?

http://www.coventrytelegraph.net/news/coventry-news/2013/03/26/92746-33058077/?

1nilandwe... · Mar 26, 2013

I think I'm as nervous as I was before Bristol City away last season.
And we all know how that turned out. Gulp.

covcity4life · Mar 26, 2013

acl move for dismissal of admin order for ccfc ltd

Sky Blues · Mar 26, 2013

ACL open play by applying to dismiss admin order against CCFC Ltd, tweets Les Reid.

covcity4life · Mar 26, 2013

they are happy with administraters already in place it seems

ccfc92 · Mar 26, 2013

Sky Blues said:
Time for kick-off should be about now. The High Court is a sell out apparently. Standing room only.

Terracing, Yayyy

Sky Blues · Mar 26, 2013

Sky Blue Trust secretary Moz Baker tweets case won't be heard until 2pm. Break?

covcity4life · Mar 26, 2013

adjourned till 2

WHAT A FIRST HALF THAT WAS,FLEW BY

hutch1972 · Mar 26, 2013

Adjourned untill 2pm

Sky Blues · Mar 26, 2013

Will discuss costs at 2pm, tweets Les Reid.

Was it ever thus in this dispute.

Sky Blues · Mar 26, 2013

covcity4life said:
adjourned till 2

WHAT A FIRST HALF THAT WAS,FLEW BY

Who has the oranges?

JS, TF and ML no show according to Moz Baker.

hutch1972 · Mar 26, 2013

Still no cast iron or official info on the FL share.

ccfc92 · Mar 26, 2013

covcity4life said:
adjourned till 2

WHAT A FIRST HALF THAT WAS,FLEW BY

Summary?

chiefdave · Mar 26, 2013

hutch1972 said:
Still no cast iron or official info on the FL share.

Will we get that from the court? If ACL are basically withdrawing their application to put CCFC Ltd into admin as SISU have already done it then that's it as far as the courts are concerned isn't it? Anything else will be down to the FL I would imagine.

Sky Blues · Mar 26, 2013

Second half expected to last 90mins to 2 hours, according to CWR tweet.

Bit excessive if just discussing costs?

ccfchandsy · Mar 26, 2013

So does that mean both ccfc ltd and holdings are in admin

chiefdave · Mar 26, 2013

Sky Blues said:
Second half expected to last 90mins to 2 hours, according to CWR tweet.

Bit excessive if just discussing costs?

Must be more than costs then I would have thought. If ACL brought the case then asked for it to be dismissed I can't see anyone but them being liable for costs, wonder what will take 2 hours?

SonofErnie · Mar 26, 2013

Adjourned until 2pm to allow costs to be discussed between parties. Length of 2nd half suggests it may be the CCFC holdings part of the company that will be under dicussion?

sw88 · Mar 26, 2013

I'm confused !!!

hutch1972 · Mar 26, 2013

Sky Blues said:
Who has the oranges?

JS, TF and ML no show according to Moz Baker.

Thats because i think JS is really TF but only in the privacy of his own home

Sky Blues · Mar 26, 2013

ccfchandsy said:
So does that mean both ccfc ltd and holdings are in admin

I'm guessing that means ACL think the golden share being in CCFC Ltd and not CCFC Holdings basically means the former is not a non-trading subsidiary as we were told by the club, but an active company that is now out of the direct control of Sisu. I.E. They now have someone they can deal with in charge of what might be considered the more important of the two companies.

SonofErnie · Mar 26, 2013

Does golden share go along side the player registrations ?

ccfchandsy · Mar 26, 2013

Sky Blues said:
I'm guessing that means ACL think the golden share being in CCFC Ltd and not CCFC Holdings basically means the former is not a non-trading subsidiary as we were told by the club, but an active company that is now out of the direct control of Sisu. I.E. They now have someone they can deal with in charge of what might be considered the more important of the two companies.

Nope still confused !!!!!!!

Ccfcsj · Mar 26, 2013

Can someone summarise this all in plain English as reading this is confusing me?

Sky Blues · Mar 26, 2013

Half-time interview: ACL lawyer tells Les Reid ACL will focus on the administrator (the Sisu appointed one) "undertaking their duties" with a view to a takeover.

Delboycov · Mar 26, 2013

SonofErnie said:
Adjourned until 2pm to allow costs to be discussed between parties. Length of 2nd half suggests it may be the CCFC holdings part of the company that will be under dicussion?

Costs that will probably run into hundreds of thousands? What was the point of that?! I wonder what the difference in the amount of cash all this legal fighting has cost SISU and what they would've got away with in rent...Madness.

MusicDating · Mar 26, 2013

"Les Reid ‏@Lesreidpolitics 2m
BREAKING (more)..But he said #ACL would focus on #CCFC's administrator "undertaking their duties", with a view to a takeover @covtelegraph
Expand
BREAKING: #ACL lawyer James Powell tells me it accepts #CCFC #sisu / Arvo appointed administrator P.Appleton should remain"

Is it hoping too much that this means -10pts this season, and both sides can focus on Davis Love III taking over?...

MusicDating · Mar 26, 2013

More from #ACL lawyer James Powell: "We had a letter from Football League confirming share is with #CCFC Ltd." ... (1of3)

High Court Match Thread (10 Viewers)

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