Can they do that IF the Football league say both companies are linked ??? If they say that i dont think SISU can do that by law (although i could be wrong...)
TF maintained CCFCH was debt free! I think they look do do this and then try to find a buyer but doubt it will happen. Think the only certainty is SISU will buy club out of admin! They cannot afford n e 1 else to buy golden share!
SISU (CCFC Holdings) will offer administrator a silly sum to buy CCFC Ltd, thus clearing the debt to Arena and obtaining golden share.
I don't believe there will be a new owner as SISU hold all the cards, it will just SISU moving forwards without carry arena debt issue.
Not the perfect scenario we are all hoping for but one that WILL come to light soon enough.
I,m not sure that it would be legal for CCFCH to buy CCFC ltd from the administrator as CCFCH already owned CCFC ltd prior to admin. .....I maybe wrong I'm sure someone on here will know.
SISU (CCFC Holdings) will offer administrator a silly sum to buy CCFC Ltd, thus clearing the debt to Arena and obtaining golden share.
I don't believe there will be a new owner as SISU hold all the cards, it will just SISU moving forwards without carry arena debt issue.
Not the perfect scenario we are all hoping for but one that WILL come to light soon enough.
It's not illegal. Can't really see much point to it though unless they are the only potential buyer. Then they could make an offer regarding the stadium and the council would have two choices - accept or liquidate.
Given the council seen to now admit they will never sell back to the club their share this looks very unlikely.
It all depends on where the golden share lies as CCFCH surely must get possesion of it either by buying CCFC ltd so they can play or if CCFCH has the golden sahre they will have no need for CCFC Lt
However the administrator must consider all offers so at least we will know of there are real interested buyers or this is just make believe.
Hang on a minute...the FA could grow a set of balls & in the suggested scenario...declare SISU to be not "fit & proper" (having made an apparent pigs ear in a tangled web thus far). That would mean the administrator would have to go to the next best surely?
Not sure that's true.
If "everything" was in administration I'd agree that any interested buyer would come forward.
However we're in, what seems increasingly to be, our usual mess. CCFC Ltd is in administration. It probably owns the golden share, but apparently doesn't own any players contracts. Presumably it doesn't own (with or without mortgage) the training ground.
So what would the "interested buyer" be trying to buy.
Being in administration might have been a price worth paying to clear the decks and give us the opportunity for new owners - however, being in administration and still having SISU running the club (or to be precise the company with "all the assets in") - seems to be the worst of both worlds!
That is my hope and i think it is possible. Perhaps sisu have been stitched up by others, i am not convinced this ccfc ltd and Golden Share was the great surprise it is made out to be. ACL seemed very happy to drop their court case. Lets not forget there has been involvement in this as high as comments from the Minister of Sport, MPs and a debate in Parliament. I suspect a lot of digging has been done behind the scenes.If there is someone who comes forward and offers to purchase CCFC Ltd (other than SISU) and their bid is accepted, they could field a team called Coventry in the league next season. They might have to locate a squad but assuming that's possible and ACL still let them play at the Ricoh apart from Ryton which may be mortgaged to AVRO anyway (team could train at Alan Higgs Centre) and some players registrations (of debatable value) what does CCFC Holdings have. Of course this assumes the Golden Share is in Ltd.
Can they do that IF the Football league say both companies are linked ??? If they say that i dont think SISU can do that by law (although i could be wrong...)
I don't get this argument that is being raised time after time after time.
All companies have to be individually registered as limited companies at Companies House.
A limited company is a unique legal entity in its own right, even if it has exactly the same directors as one or more limited companies with slightly different names. This is why businesses often have a separate company handling the day-to-day operations and another to own the property, tangible assets, etc, so that problems with one does bring down the other. It's not for judges to decide whether companies are 'linked' as they are in law, separate entities.
Please tell me if I'm wrong as this has been my understanding for many years.
Any SISU buyout of the club out of admin minimum 15 point deduction next season probably more
Any SISU buyout of the club out of admin minimum 15 point deduction next season probably more
Because we all need hope and dreams.
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