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Liquidation is now the only possibility. (1 Viewer)

  • Thread starter SKYBLUESAM87
  • Start date Mar 26, 2013
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SKYBLUESAM87

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  • Mar 26, 2013
  • #1
If it's ruled that CCFC(H) Ltd and CCFC Ltd are not inextricably connected, we could face instant expulsion from the league insofar as that all staff contracts are with CCFC(H) Ltd (owned by ARVO Masterfund), who have no golden share and so no league registration, and so our entire playing and coaching staff would be third-party owned. That being the case, we'd have been fielding illegal players in every one of our matches this season in all competitions. It'd be likely to force us into a similar position to Rangers, in that we'd be left with a splintered newco and oldco, one of which carries playing staff (whom we'd have to obtain dispensation to transfer across from one to the other and negotiate new deals with), and one of which carries league registration but has no means to use it, and so will inevitably fold in the summer either way. If it's ruled they are inextricably connected, the initial 10 points will be the least of our worries, because it makes Thursday's move to place CCFC Ltd into administration nothing more than a ruse; given that SISU have the administrators of their choice, there would be a further 15-point penalty if they decline a CVA relating to any takeover of the club in the future. The additional sanction for anything deemed a delay tactic on their part so far would be at least a further 5 points this season. Given that SISU have been so forthright in the past about their reluctance to sell at a loss, and given their investment so far has topped £30m, I can't see there being much chance of us avoiding the further 15-point penalty and them signing off quietly.
 
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