Liquidation (1 Viewer)

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torchomatic

torchomatic

Well-Known Member
letsallsingtogether said:
Rubbish and you know it.
So everyone on the trust wants liquidation?
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Never said everyone. Some of them certainly do. There are those on Twitter who do too.
 
torchomatic

torchomatic

Well-Known Member
mark_ccfc

mark_ccfc

Well-Known Member
Irish Sky Blue said:
I think the only people who would liquidate CCFC is Sisu, hasn’t Seppala threatened already to do this? Why would liquidation therefore be down to anyone else but them? So the Trust and Sisu now conspiring together to get rid of CCFC? As I said, if this happens it will be down to Sisu and the Trust and other fan groups would be left to pick up the pieces. Those that think the real CCFC is dead would have no reason to moan or protest if the rest of us don’t see it that way. A team that plays in Coventry, in Sky Blue and has Coventry City in their name, supported by the bulk of our fans would morally and spiritually still be the same club to me. If Sisu carry on as they are, this may be the only option left. Better that than to disappear completely.
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Wasnt it boddy who mentioned liquidation in the cet statement. Seems scaremongering to me to try and get support from the fans.
 
oldskyblue58

oldskyblue58

CCFC Finance Director
The trust can not force a liquidation or administration there is simply no mechanism for them to do so. They are neither a creditor or shareholder of otium so it's legally impossible. The only people who can create an insolvency event are the owners who are the only shareholders and also happen to be the largest creditors. The owners would as before control the insolvency which ever form it takes.

The trust board understand that and clearly state the situation in note 11 of the Q&A on fans ownership on their website.

What some clueless idiot says on Twitter about putting the club in to liquidation is not what the trust board understands. Similarly those claiming that the trust board are looking to achieve a liquidation or insolvency are equally ill informed as the trust board recognise it is not was not and could not be an option it is impossible for them to achieve. It is all nonsense.

What the trust board has done is to establish a process that could be used if the Ccfc owners created an insolvency event. They may, even so, never get a chance to use that safety net that has been put in place ready to use. The owners of Ccfc are the only ones that are likely to create an insolvency, in fact they are pretty much the only ones that could, be it a members or creditors insolvency or the owners no longer financially ensuring the other creditors are paid.
 
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Gibbo

Gibbo

Well-Known Member
oldskyblue58 said:
The trust can not force a liquidation or administration there is simply no mechanism for them to do so. They are neither a creditor or shareholder of otium so it's legally impossible. The only people who can create an insolvency event are the owners who are the only shareholders and also happen to be the largest creditors. The owners would as before control the insolvency which ever form it takes.

The trust board understand that and clearly state the situation in note 11 of the Q&A on fans ownership on their website.

What some clueless idiot says on Twitter about putting the club in to liquidation is not what the trust board understands. Similarly those claiming that the trust board are looking to achieve a liquidation are equally ill informed as the trust board recognise it is not was not and could not be an option. It is nonsense.

What the trust board has done is to establish a process that could be used if the Ccfc owners created an insolvency event. They may, even so, never get a chance to use that safety net that has been put in place ready to use. The owners of Ccfc are the only ones that are likely to create an insolvency, in fact they are pretty much the only ones that could, be it a members or creditors insolvency or the owners no longer financially ensuring the other creditors are paid.
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Maybe a reason why they created Otium as one step removed?
 
torchomatic

torchomatic

Well-Known Member
COVKIDSNEVERQUIT

COVKIDSNEVERQUIT

Well-Known Member
oldskyblue58 said:
Yes and right up until they got wind of a serious threat from wasps they believed it was working. More than anything the wasps deal forced Sisu to bring Ccfc back. They miscalculated that there were no other options. Had they not come back from sixfields then there was no way to create any pressure on other parties. Ccfc would have died in Northampton and Sisu hopes of investor return with it.
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Thanks oldskyblue58 if this, just shows what a crazy decision by Mr Fisher to move the club to Northampton .

He's not the geat businessman man he thinks he is.

In any other business he would have been sacked .

He's certainly well in with Joy Seppala.
 
shmmeee

shmmeee

Well-Known Member
chiefdave said:
Halifax Town ceased to exist in 2008 and lost Football Conference membership.
FC Halifax Town was then formed, a new club, and placed in the Northern Premer League Division 1 North.
They have yet to regain FL status.

Chester ceased to exist in 2010 and lost Football Conference membership.
Chester FC was then formed, a new club, and placed in the Northern Premier League Division 1 North.
They have yet to regain FL status.

Newport Country ceased to exist in 1989 and lost Football Conferance membership.
Newport AFC was then formed, a new club, and placed in the Hellenic Football League.
It took them over 20 years to regain FL status.

There seems to be this idea the club can reform in a lower league and in a couple of years be back at our current level, that won’t happen. There’s not many success stories from clubs that have tried that route.

Be realistic, can you see thousands turning up for non league football every week. Let alone the matter of where a new club would play, quite possibly outside the city.
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I can’t help but feel we are at cross purposes. The post you quote is in response to someone saying “if CCFC gets liquidated then it’s over”, I was pointing out that has already happened and the sun still came up. It’s not as simple as some are making out. The fact is we are dealing with the FA /FL not the laws of physics. They can and do make it up as they go along to suit whatever outcome they want.

As that BBC article states, they bent the rules to allow Otium to have the Golden Share and gave us a points deduction. The fact is they *could* do that again. However unlikely you *feel* it might be.

The club is not a limited corporation, it’s more than that. Who follows what in which division will be determined by a host of factors including decisions the FL make and the circumstances and resulting outcomes of any liquidation process.

Talking about “Non-League football” is silly. Do a I think we could survive a season in the Conference? Yes. Do i think 5000 fans will turn up at the bottom of the pyramid? No. Do you or I know which is likely to happen without knowing the circumstances of any liquidation? Hell no!
 
chiefdave

chiefdave

Well-Known Member
shmmeee said:
As that BBC article states, they bent the rules to allow Otium to have the Golden Share and gave us a points deduction. The fact is they *could* do that again. However unlikely you *feel* it might be.
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Maybe they could, although we all know the only reason they did it last time was to cover their own mistake in allowing the player registrations to be split from the club, however I would not want to risk the future of the club on the hope they'll do it again.
shmmeee said:
Talking about “Non-League football” is silly. Do a I think we could survive a season in the Conference?
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This highlights the issue perfectly for me. People who talk about liquidation seem to think we'll be back where we are now in a couple of years. Looking at other clubs this has happened to it wouldn't be a season in the conference it would be several seasons at levels below that. How is this new club getting the funding to go flying up the leagues?
 
T

thekidfromstrettoncamp

Well-Known Member
Have I read somewhere that if the club was liquidated by Otium that they the "Sisu group of companies " would no longer be able to receive the "Golden share" and would any liquidation mean automatic demotion because.I do think this time Wasps won't blink first.
 
chiefdave

chiefdave

Well-Known Member
thekidfromstrettoncamp said:
Have I read somewhere that if the club was liquidated by Otium that they the "Sisu group of companies " would no longer be able to receive the "Golden share" and would any liquidation mean automatic demotion because.I do think this time Wasps won't blink first.
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Liquidation would mean the club no longer exists, no need to worry about automatic relegation.
 
letsallsingtogether

letsallsingtogether

Well-Known Member
thekidfromstrettoncamp said:
Have I read somewhere that if the club was liquidated by Otium that they the "Sisu group of companies " would no longer be able to receive the "Golden share" and would any liquidation mean automatic demotion because.I do think this time Wasps won't blink first.
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Who knows has a club the size of Coventry been demoted that far down before?
Imagine the logistical nightmare for these clubs when we take more to their grounds then they get in average gates could they cope?
Just a thought.
 
Liquid Gold

Liquid Gold

Well-Known Member
letsallsingtogether said:
Who knows has a club the size of Coventry been demoted that far down before?
Imagine the logistical nightmare for these clubs when we take more to their grounds then they get in average gates could they cope?
Just a thought.
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But we wouldn’t be demoted because we wouldn’t exist. A new club could apply to take our place in the EFL and most probably be rejected, then it comes to which level votes to accept the new team. If the conference decides it would be too much trouble then they apply for the level below until someone says yes and then work back up from there. There is no evidence to suggest the EFL will give the league place to a new Coventry club.
 
Hobo

Hobo

Well-Known Member
torchomatic said:
Nope, just a fan. Live and let live that's what I say.
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Are you lot still bickering? Yep, live and let live and whatever will be, will be...whether we are just fans or not.
 
mark82

mark82

Moderator
Nick said:
If we start a new one, it won't be much different to cov United with thousands of city fans going to support them.
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This is the argument I really don't get. If the worst case scenario happened, we were liquidated and we had to reform, it would be nothing like Coventry United. They are nothing to do with Coventry City.

A reformed club would retain its history and honours like others before. It would likely be placed at a level above the level of Coventry United (my guess would be conference as long as we didn't finish in relegation places, otherwise conference north/south). It would play in CCFC colours, it would have the CCFC name (or at least something very, very close so that it would be known the same). Yes, it's definitely not something anyone should want, it's definitely something we should fear, it would be full of complications, but it would still be CCFC.
 
Liquid Gold

Liquid Gold

Well-Known Member
mark82 said:
This is the argument I really don't get. If the worst case scenario happened, we were liquidated and we had to reform, it would be nothing like Coventry United. They are nothing to do with Coventry City.

A reformed club would retain its history and honours like others before. It would likely be placed at a level above the level of Coventry United (my guess would be conference as long as we didn't finish in relegation places, otherwise conference north/south). It would play in CCFC colours, it would have the CCFC name (or at least something very, very close so that it would be known the same). Yes, it's definitely not something anyone should want, it's definitely something we should fear, it would be full of complications, but it would still be CCFC.
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I think for me it comes down to how CCFC died. If it went after hurculean efforts by fans to save it and nothing could be done then maybe I’d consider a new team. If it went with a wimper and the new club was set up by people who put fuck all effort into saving what we have just to have a dig at sisu then it would be a different matter.
 
Nick

Nick

Administrator
mark82 said:
This is the argument I really don't get. If the worst case scenario happened, we were liquidated and we had to reform, it would be nothing like Coventry United. They are nothing to do with Coventry City.

A reformed club would retain its history and honours like others before. It would likely be placed at a level above the level of Coventry United (my guess would be conference as long as we didn't finish in relegation places, otherwise conference north/south). It would play in CCFC colours, it would have the CCFC name (or at least something very, very close so that it would be known the same). Yes, it's definitely not something anyone should want, it's definitely something we should fear, it would be full of complications, but it would still be CCFC.
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No it wouldn't, it would have a different name and no honours.
 
mark82

mark82

Moderator
Liquid Gold said:
I think for me it comes down to how CCFC died. If it went after hurculean efforts by fans to save it and nothing could be done then maybe I’d consider a new team. If it went with a wimper and the new club was set up by people who put fuck all effort into saving what we have just to have a dig at sisu then it would be a different matter.
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Agree, it all a very hypothetical argument. I still need a CCFC to watch though so would probably go whatever happened.
 
Grendel

Grendel

Well-Known Member
mark82 said:
This is the argument I really don't get. If the worst case scenario happened, we were liquidated and we had to reform, it would be nothing like Coventry United. They are nothing to do with Coventry City.

A reformed club would retain its history and honours like others before. It would likely be placed at a level above the level of Coventry United (my guess would be conference as long as we didn't finish in relegation places, otherwise conference north/south). It would play in CCFC colours, it would have the CCFC name (or at least something very, very close so that it would be known the same). Yes, it's definitely not something anyone should want, it's definitely something we should fear, it would be full of complications, but it would still be CCFC.
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If it’s some bollocks that included trust ownership I’m out
 
Nick

Nick

Administrator
NorthernWisdom said:
Yes it would.
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How? The examples you gave are all different clubs aren't they?

I support ccfc because that's who I went with as a kid to watch. It's why I don't care if sphinx win and I'm not that fussed about England.

Not AFC Coventry for example. No matter how many ccfc fans go and watch.
 
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