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Liquidation (1 Viewer)

  • Thread starter mark_ccfc
  • Start date Dec 29, 2018
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torchomatic

Well-Known Member
  • Dec 30, 2018
  • #141
letsallsingtogether said:
Rubbish and you know it.
So everyone on the trust wants liquidation?
Click to expand...

Never said everyone. Some of them certainly do. There are those on Twitter who do too.
 

torchomatic

Well-Known Member
  • Dec 30, 2018
  • #142
clint van damme said:
You think that sentiments funny.
Never had you down as being like that.
Click to expand...

He is.
 

mark_ccfc

Well-Known Member
  • Dec 30, 2018
  • #143
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.
Click to expand...
Wasnt it boddy who mentioned liquidation in the cet statement. Seems scaremongering to me to try and get support from the fans.
 

oldskyblue58

CCFC Finance Director
  • Dec 30, 2018
  • #144
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.
 
Last edited: Dec 30, 2018
Reactions: mark82, Captain Dart, Irish Sky Blue and 2 others

Gibbo

Well-Known Member
  • Dec 30, 2018
  • #145
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.
Click to expand...
Maybe a reason why they created Otium as one step removed?
 

shmmeee

Well-Known Member
  • Dec 30, 2018
  • #146
Deleted member 5849 said:
CCFC ladies?
Click to expand...

Ducking autocorrect
 

letsallsingtogether

Well-Known Member
  • Dec 30, 2018
  • #147
torchomatic said:
He is.
Click to expand...
Am I?
Why because I never saw all that heritage when we were at sixfields.

Sorry forgot you are a super fan.
 

torchomatic

Well-Known Member
  • Dec 30, 2018
  • #148
letsallsingtogether said:
Am I?
Why because I never saw all that heritage when we were at sixfields.

Sorry forgot you are a super fan.
Click to expand...

Nope, just a fan. Live and let live that's what I say.
 

COVKIDSNEVERQUIT

Well-Known Member
  • Dec 30, 2018
  • #149
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.
Click to expand...
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

Well-Known Member
  • Dec 31, 2018
  • #150
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.
Click to expand...

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

Well-Known Member
  • Dec 31, 2018
  • #151
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.
Click to expand...
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?
Click to expand...
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
  • Dec 31, 2018
  • #152
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.
 

letsallsingtogether

Well-Known Member
  • Dec 31, 2018
  • #153
torchomatic said:
Nope, just a fan. Live and let live that's what I say.
Click to expand...
Really live and let live?
 

chiefdave

Well-Known Member
  • Dec 31, 2018
  • #154
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.
Click to expand...
Liquidation would mean the club no longer exists, no need to worry about automatic relegation.
 
Reactions: torchomatic

letsallsingtogether

Well-Known Member
  • Dec 31, 2018
  • #155
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.
Click to expand...
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

Well-Known Member
  • Dec 31, 2018
  • #156
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.
Click to expand...
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.
 
Reactions: torchomatic
M

martcov

Well-Known Member
  • Dec 31, 2018
  • #157
letsallsingtogether said:
Really live and let live?
Click to expand...

Wasn’t that a dodgy pub?
 

Hobo

Well-Known Member
  • Dec 31, 2018
  • #158
torchomatic said:
Nope, just a fan. Live and let live that's what I say.
Click to expand...

Are you lot still bickering? Yep, live and let live and whatever will be, will be...whether we are just fans or not.
 

COVKIDSNEVERQUIT

Well-Known Member
  • Dec 31, 2018
  • #159
martcov said:
Wasn’t that a dodgy pub?
Click to expand...
Yeah in Wood End.

But say it quietly !
 
Reactions: martcov

mark82

Super Moderator
  • Dec 31, 2018
  • #160
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.
Click to expand...

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.
 
Reactions: Irish Sky Blue and Deleted member 5849

Liquid Gold

Well-Known Member
  • Dec 31, 2018
  • #161
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.
Click to expand...
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.
 
Reactions: clint van damme

Nick

Administrator
  • Dec 31, 2018
  • #162
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.
Click to expand...

No it wouldn't, it would have a different name and no honours.
 

mark82

Super Moderator
  • Dec 31, 2018
  • #163
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.
Click to expand...

Agree, it all a very hypothetical argument. I still need a CCFC to watch though so would probably go whatever happened.
 

Grendel

Well-Known Member
  • Dec 31, 2018
  • #164
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.
Click to expand...

If it’s some bollocks that included trust ownership I’m out
 
D

Deleted member 5849

Guest
  • Dec 31, 2018
  • #165
Nick said:
No it wouldn't,
Click to expand...
Just because it wouldn't to you doesn't mean it wouldn't be to others!
 

Nick

Administrator
  • Dec 31, 2018
  • #166
mark82 said:
Agree, it all a very hypothetical argument. I still need a CCFC to watch though so would probably go whatever happened.
Click to expand...
Just depends how ccfc it was.
 

Nick

Administrator
  • Dec 31, 2018
  • #167
Deleted member 5849 said:
Just because it wouldn't to you doesn't mean it wouldn't be to others!
Click to expand...
No it just wouldn't be ccfc and have the history.

The same as sphinx doesn't but they have a sky blue stripe kit.
 
D

Deleted member 5849

Guest
  • Dec 31, 2018
  • #168
Nick said:
o it just wouldn't be ccfc and have the history.
Click to expand...
Yes it would.
 

Sky Blue Harry H

Well-Known Member
  • Dec 31, 2018
  • #169
Grendel said:
If it’s some bollocks that included trust ownership I’m out
Click to expand...

If ever there was an inducement (only joking, G !!)
 

mark82

Super Moderator
  • Dec 31, 2018
  • #170
Nick said:
Just depends how ccfc it was.
Click to expand...

Completely agree with that. Don't think many would argue AFC Wimbledon are the real Wimbledon.
 

Nick

Administrator
  • Dec 31, 2018
  • #171
Deleted member 5849 said:
Yes it would.
Click to expand...
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.
 

mark82

Super Moderator
  • Dec 31, 2018
  • #172
Grendel said:
If it’s some bollocks that included trust ownership I’m out
Click to expand...

To me, that's as bad as people who don't go because of Sisu. I would prefer they didn't have involvmeinv though.
 
D

Deleted member 5849

Guest
  • Dec 31, 2018
  • #173
Nick said:
How? The examples you gave are all different clubs aren't they?
Click to expand...
To you. Not to the Newport Fucking County fans! You really are insulting them by taking away their history and their strength as fans.
 
Last edited by a moderator: Dec 31, 2018
Reactions: Captain Dart, letsallsingtogether and mark82
D

Deleted member 5849

Guest
  • Dec 31, 2018
  • #174
mark82 said:
To me, that's as bad as people who don't go because of Sisu. I would prefer they didn't have involvmeinv though.
Click to expand...
Yeah, I'd be in despair if the first chaiorman was Joe Elliott! What could you do though, other than try and be chairman yourself...?
 
Reactions: mark82

Liquid Gold

Well-Known Member
  • Dec 31, 2018
  • #175
mark82 said:
To me, that's as bad as people who don't go because of Sisu. I would prefer they didn't have involvmeinv though.
Click to expand...
Damning on the trust really. You’d expect a decent trust to be put forward by fans in exactly that situation.
 
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