It may be that FFP rules work OK for normally running clubs - but has any club experienced administration since FFP started?
It may be that there are grounds for some exceptions to be explored?
imp:
http://www.debthelpuk.co.uk/company-voluntary-liquidation-cvl/
This seems to summarise things ...... there does not seem to be a time limit. So CCFC Ltd could be in that liquidation process for months by the look. Perhaps why there is apparent desperation to get CVA signed...... could be under embargo a long time perhaps?
It may be that FFP rules work OK for normally running clubs - but has any club experienced administration since FFP started?
It may be that there are grounds for some exceptions to be explored?
imp:
not sure who would control it ..... Alan Limb from BRI was quoted in CT as saying that ACL could be paying for liquidator in which case i would guess very unlikely PA will get the job. The process would be the same
"If CCFC Ltd goes into liquidation, the liquidator has a duty to investigate the assets. Any action would have to be funded by creditors, and ACL would be the most likely candidate, if it has the money."
- Liquidator would investigate if there had been assets shifted between CCFC Ltd and other entities
- were the values shifted at market value?
- was the trade shifted at nil value if so was that market value?
stuff like that would come up i would guess. Has to ensure all creditors were not prejudiced by transactions that affect the liquidation. All creditors must be treated alike. Thats what they mean about unravelling transactions. If he found evidence of wrong doing (even if innocent mistakes) he could seek to rectify the situation. That could include court action against anyone involved or connected. Owners, directors, connected companies, creditors, debtors actions come under the spotlight even the transactions with FL if he/she chooses
Would he find anything who knows but certainly we know assets were there in 2011 and are not now. There could be good reason for that and full value may have been received. Up to liquidator to investigate
If the embargo does not stop us from signing unattached players it is of little consequence!
Transfer fees are out of fashion.
Since FFP has bitten there is a wealth of players available for no transfer fee.
imp:
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?