Liquidation is a last resort.
If ACL reject it, then it's the end of our Club!
IMHO!
If ACL reject it, then it's the end of our Club!
IMHO!
8 Leagues below where we areProbably a significant tier drop
It is also a stick Mr Fisher has waved on two occasions now.
Then my next question would be
If a new club is set up, what would be the entry point in FL ladder.
There must be common sense here. Liquidation would not be the result of league debts/Inland Revenue debts etc, just a petty rent issue.
So have ACL - see PHWK's quote.
Must have missed that. Do you have a link?
8 Leagues below where we are
Posts yesterday by PWKH regarding the Option by SISU to purchase the Higgs half share of the Ricoh:-
"The Option is in CCFC Ltd. It has been shown in the accounts of other entities owned by Sisu and linked to CCFC. It has not been transferred out of CCFC Ltd: for it to be assigned it requires the agreement of the Trustees. This agreement has not been sought by Sisu or by the Administrator. Sisu did not trigger the Option last summer. At present the Option is in the hands of the Administrator. It cannot be triggered if CCFC Ltd owe any money to ACL."
"As I understand it, (and the Trustees have not yet taken advice because the parts are still moving and there is no point in spending any money on lawyers until they stop moving) if the CVA is accepted Ltd can continue or it can be liquidated. If it is liquidated the Option dies. What will not happen, it seems, is that Ltd will be sold to Otium. Appleton has accepted an offer from Otium for whatever the assets are, not for the company itself. If Otium bought Ltd they would be buying the lease and licence at the Ricoh...
As I say, the parts are still moving around and what is today's situation may well not be tomorrow's."
8 Leagues below where we are
8 Leagues below where we are
Thanks GT. I'm not sure I read that as a clear threat by ACL to liquidate the club.
Did Rangers drop to the bottom ?
I don't think they did so I guess L1
Have read the above, twice but still not clear. In simple terms and in your opinion is rejecting the cva a viable option and is it dangerous to our long term or even short term futurePosts yesterday by PWKH regarding the Option by SISU to purchase the Higgs half share of the Ricoh:-
"The Option is in CCFC Ltd. It has been shown in the accounts of other entities owned by Sisu and linked to CCFC. It has not been transferred out of CCFC Ltd: for it to be assigned it requires the agreement of the Trustees. This agreement has not been sought by Sisu or by the Administrator. Sisu did not trigger the Option last summer. At present the Option is in the hands of the Administrator. It cannot be triggered if CCFC Ltd owe any money to ACL."
"As I understand it, (and the Trustees have not yet taken advice because the parts are still moving and there is no point in spending any money on lawyers until they stop moving) if the CVA is accepted Ltd can continue or it can be liquidated. If it is liquidated the Option dies. What will not happen, it seems, is that Ltd will be sold to Otium. Appleton has accepted an offer from Otium for whatever the assets are, not for the company itself. If Otium bought Ltd they would be buying the lease and licence at the Ricoh...
As I say, the parts are still moving around and what is today's situation may well not be tomorrow's."
"The Board of ACL has already issued a Statutory Demand for payment, the deadline for which has long since passed, and is now looking at its legal options. These legal options include petitioning the courts to grant an order to wind up CCFC and starting off the process of placing the Club into compulsory liquidation."
http://www.coventrycity-mad.co.uk/news/tmnw/even_more_stability_for_acl__knatchbullhugessen_779242/index.shtml
The context doesn't matter, it's the fact that he said it, like Fisher, yet people ignore this. Both sides are guilty for this mess - the sooner the fans realise, the better, as it's only us who will ever lose.
"The Board of ACL has already issued a Statutory Demand for payment, the deadline for which has long since passed, and is now looking at its legal options. These legal options include petitioning the courts to grant an order to wind up CCFC and starting off the process of placing the Club into compulsory liquidation."
http://www.coventrycity-mad.co.uk/news/tmnw/even_more_stability_for_acl__knatchbullhugessen_779242/index.shtml
The context doesn't matter, it's the fact that he said it, like Fisher, yet people ignore this. Both sides are guilty for this mess - the sooner the fans realise, the better, as it's only us who will ever lose.
No ACL went for administration so as to stop the threat of liquidation by SISU
It's completely different, Rangers are the biggest club in Scotland (well, most successful domestic team, I dislike the SPL, but I prefer Celtic to Rangers for the record), so they had to take that into consideration, CCFC are merely a mediocre football club - I hate to say it, but it's true, 1 major trophy and no top 6 finish for 43 odd years?
Also, the Scottish system is different to ours, they don't have a pyramid system like ours, so Scottish Div 3 was probably the lowest they could send Rangers.
Not necessarily... When my club Chester City was liquidated, we appealed
the decision to demote us 8 leagues. The F.A upon hearing our appeal
overturned the orignal rule and we were demoted three divisions. Since
reforming as a fan owned club, we have achieved 3 promotions in our first
3 seasons and will start life this season in the Football Conference... the
league we were in orignally when the club was liquidated.
I think there are two threads getting mixed up here. PWKH is saying that the option is in Ltd and when Otium having secured CCFC Ltd (as we all suspect they will) liquidate CCFC Ltd the option to buy the Higgs shares dies with that liquidation.
As I understand it the rejection of a CVA does not mean the death of CCFC it would mean a 15 pt or so (at FL discretion) penalty for exiting administration without a CVA. As things stand the golden share is likely to be given to Otium as they have bought CCFC Ltd from administrator.
It's completely different, Rangers are the biggest club in Scotland (well, most successful domestic team, I dislike the SPL, but I prefer Celtic to Rangers for the record), so they had to take that into consideration, CCFC are merely a mediocre football club - I hate to say it, but it's true, 1 major trophy and no top 6 finish for 43 odd years?
Also, the Scottish system is different to ours, they don't have a pyramid system like ours, so Scottish Div 3 was probably the lowest they could send Rangers.
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