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Official - we are in administration already (1 Viewer)

  • Thread starter Baginton
  • Start date Mar 26, 2013
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Gray

Well-Known Member
  • Mar 26, 2013
  • #36
And could SISU now form a new company and buy the club from themselves?
 

italiahorse

Well-Known Member
  • Mar 26, 2013
  • #37
He also says that we have already gone past the last Thursday in March so the points are next season.

This Thursday is still in March

Great administrator he is !!!!
 

Sky Blue Kid

Well-Known Member
  • Mar 26, 2013
  • #38
sw88 said:
So just before the last hearing, the club wasnt in admin, and just before todays appearance we are!

Sounds a bit dodgy to me!

Reckon they've spent the last 4 days switching the league registration back to the company who should have had it to avoid being sued for (what was the term?) 'sale undervalue'?

I imagine they're know some crooks who could adapt paperwork quite easily for a few $$
Click to expand...





I think you've watched too many soap operas mate!:facepalm:
 

mattylad

Member
  • Mar 26, 2013
  • #39
If SISU no longer wish to fund the club and ARVO refuse to play ball on a take over then ACL may well have helped create the perfect storm that will see the club liquidated but I hope I am wrong.

There will be lots of interest some genuine and some publicity seeking but whether anyone can offer enough to encourage SISU to sell the club we shall see.
My money is on them still trying to hang on and us being in a Portsmouth situation next year im very sad to say.

They are like a poker player who has done all bar the last few chips but refuses to leave the table just in case they can win them all back.
 

Gray

Well-Known Member
  • Mar 26, 2013
  • #40
court case still goes ahead according to a reporter from the telegraph
http://www.coventrytelegraph.net/ne...oventry-city-go-to-high-court-92746-33058077/
 

oldskyblue58

CCFC Finance Director
  • Mar 26, 2013
  • #41
Dont forget mattylad ARVO is very closely associated with SISU ........ it is a tool to secure the SISU aims so in reality is closely involved at CCFC. In that case it shouldnt be viewed as a normal 3rd party creditor having to be notified, it was in the scheme in the first place
 

mattylad

Member
  • Mar 26, 2013
  • #42
Gray said:
court case still goes ahead according to a reporter from the telegraph
http://www.coventrytelegraph.net/ne...oventry-city-go-to-high-court-92746-33058077/
Click to expand...

That contradicts what BG said live on the radio at 8.15 so I guess its not up to date or it could be ACL will need to send its lawyers in to just confirm it is withdrawing its request although I don't believe that is required.
 

tisza

Well-Known Member
  • Mar 26, 2013
  • #43
Surely the appointment of administrators and by whom will depend on the judge being satisfied that any movements of assets etc. between the two companies over the last 12 months are completely above board.
 

CovLis86

Well-Known Member
  • Mar 26, 2013
  • #44
This is making scary reading. Knew it would be a bumpy ride, but this is surely unlike anything ever in the history of the sport. Anything could happen. Hopefully the judge can see through sisu tactics and see they are not fit for purpose.
 

Baginton

New Member
  • Mar 26, 2013
  • #45
Delboycov said:
It'll do us good to spend a couple of years down there then maybe go down to the BSP for a season....Get to win loads of games, crowds come back, be massive etc etc (The thing is there are probably some fans that actually think this!)
Click to expand...

teams generally spend 3 or 4 years down in the Blue Square before scrapping their way back up, only 2 promotion spaces so its really hard, it takes a while to get used to the type of football played down there, there are several big ex league clubs having a nightmare time, Luton, Wrexham, Grimsby etc
 

Diehard Si

New Member
  • Mar 26, 2013
  • #46
If the football league may get a say on who gets control back. Maybe we should show them.

Those that can, get up the Ricoh while the cameras are there demanding SISU out? Let the world see what the fans think.

Now is the bloody time. I can't go myself but I'm sure a few can. Get a good organiser for it and off you go..
 

Gray

Well-Known Member
  • Mar 26, 2013
  • #47
we'll go lower than the BSP as well could end up lower the the likes of Hinckley and Bedworth
 
B

Brighton Sky Blue

Well-Known Member
  • Mar 26, 2013
  • #48
CovLis86 said:
This is making scary reading. Knew it would be a bumpy ride, but this is surely unlike anything ever in the history of the sport. Anything could happen. Hopefully the judge can see through sisu tactics and see they are not fit for purpose.
Click to expand...

The debenture is water tight though and was filed some time ago, likely planning just for a scenario like this. As Fishy said at the time, 'It is merely one SISU business looking after the interests of another SISU business'.
 

italiahorse

Well-Known Member
  • Mar 26, 2013
  • #49
Diehard Si said:
If the football league may get a say on who gets control back. Maybe we should show them.

Those that can, get up the Ricoh while the cameras are there demanding SISU out? Let the world see what the fans think.

Now is the bloody time. I can't go myself but I'm sure a few can. Get a good organiser for it and off you go..
Click to expand...

The world are not bothered.
If you are a Vile or Incester fan a lot will be happy at the situation.

30 fans down the Ricoh will be a pointless exercise.
An empty alternative stadium is the way forward should it arise.
 
C

Colin1883

Member
  • Mar 26, 2013
  • #50
Sky Blue Kid said:
I think you've watched too many soap operas mate!:facepalm:
Click to expand...

This mess is the ultimate soap opera
 
W

warwickcccfc

New Member
  • Mar 26, 2013
  • #51
Baginton said:
Guilfoyle hasn't been appointed, he did say who it was but dont remember the name!
Click to expand...

Sorry, Baginton, when I wrote 'He', I was referring to administrator appointed by SISU...not Guilfoyle.
 

Tad

Member
  • Mar 26, 2013
  • #52
I know many will be sad with the points deduction as it rules out the playoffs, but just think about it for a moment. Are we really ready as a club to go back up? We've got a revolving door of managers and we're owned by a shady company who are constantly trying to pull the wool over people's eyes.

We need to sort through this mess and get the club structured correctly with a good philosophy before we do anything else I feel.
 

Diehard Si

New Member
  • Mar 26, 2013
  • #53
italiahorse said:
The world are not bothered.
If you are a Vile or Incester fan a lot will be happy at the situation.

30 fans down the Ricoh will be a pointless exercise.
An empty alternative stadium is the way forward should it arise.
Click to expand...
It would give the cameras something to focus on, better than filming the building just sitting there.
 
W

warwickcccfc

New Member
  • Mar 26, 2013
  • #54
italiahorse said:
He also says that we have already gone past the last Thursday in March so the points are next season.

This Thursday is still in March

Great administrator he is !!!!
Click to expand...

Yes, but at least he appreciates that Thursday is day when something happens...it's historical.
 

italiahorse

Well-Known Member
  • Mar 26, 2013
  • #55
Tad said:
I know many will be sad with the points deduction as it rules out the playoffs, but just think about it for a moment. Are we really ready as a club to go back up? We've got a revolving door of managers and we're owned by a shady company who are constantly trying to pull the wool over people's eyes.

We need to sort through this mess and get the club structured correctly with a good philosophy before we do anything else I feel.
Click to expand...

It's over. Take the points now.
 
B

Brighton Sky Blue

Well-Known Member
  • Mar 26, 2013
  • #56
Tad said:
I know many will be sad with the points deduction as it rules out the playoffs, but just think about it for a moment. Are we really ready as a club to go back up? We've got a revolving door of managers and we're owned by a shady company who are constantly trying to pull the wool over people's eyes.

We need to sort through this mess and get the club structured correctly with a good philosophy before we do anything else I feel.
Click to expand...

I will be sad with the points deduction because it's completely self inflicted. It's not as though we've run out of money like Pompey, it's been caused purely by one party 'making a stand' to defy the other. It is so flipping unnecessary and could have been avoided long ago; that is the most frustrating aspect of the whole saga.
 
W

warwickcccfc

New Member
  • Mar 26, 2013
  • #57
Tad said:
I know many will be sad with the points deduction as it rules out the playoffs, but just think about it for a moment. Are we really ready as a club to go back up? We've got a revolving door of managers and we're owned by a shady company who are constantly trying to pull the wool over people's eyes.

We need to sort through this mess and get the club structured correctly with a good philosophy before we do anything else I feel.
Click to expand...

Agreed, but another season of watching L1 football is going to be tough to watch.

The quality of football - including from us - has, on the whole, been shocking.
 

Delboycov

Active Member
  • Mar 26, 2013
  • #58
Baginton said:
teams generally spend 3 or 4 years down in the Blue Square before scrapping their way back up, only 2 promotion spaces so its really hard, it takes a while to get used to the type of football played down there, there are several big ex league clubs having a nightmare time, Luton, Wrexham, Grimsby etc
Click to expand...

Exactly! Can never understand why some fans can put any positive spin on relegation as many did when we went down from the Premier and a few did at the end of last season. I think you should always play at the highest level possible even if that sometimes does mean you're out of your depth as you never know what's round the corner in football...as we're seeing now!
 

Tad

Member
  • Mar 26, 2013
  • #59
warwickcccfc said:
Agreed, but another season of watching L1 football is going to be tough to watch.

The quality of football - including from us - has, on the whole, been shocking.
Click to expand...

I know, but I'd rather go up and stay up then be a yoyo team.
 

italiahorse

Well-Known Member
  • Mar 26, 2013
  • #60
Brighton Sky Blue said:
I will be sad with the points deduction because it's completely self inflicted. It's not as though we've run out of money like Pompey, it's been caused purely by one party 'making a stand' to defy the other. It is so flipping unnecessary and could have been avoided long ago; that is the most frustrating aspect of the whole saga.
Click to expand...

It's worse when you think about this self infliction.
Both parties wanted to be first to administration ......
 
B

Brighton Sky Blue

Well-Known Member
  • Mar 26, 2013
  • #61
Tad said:
I know, but I'd rather go up and stay up then be a yoyo team.
Click to expand...

We aren't good enough to be in the same division as Peterborough. Read that statement a few times over and it shows why people want to be out of this awful division ASAP.
 

Baginton

New Member
  • Mar 26, 2013
  • #62
italiahorse said:
He also says that we have already gone past the last Thursday in March so the points are next season.

This Thursday is still in March

Great administrator he is !!!!
Click to expand...

I only heard Tom Cook, the BBC reporter quote that, which I thought was rather odd, maybe he meant Tuesday!!
 

Sky Blues

Active Member
  • Mar 26, 2013
  • #63
Brighton Sky Blue said:
The debenture is water tight though and was filed some time ago, likely planning just for a scenario like this. As Fishy said at the time, 'It is merely one SISU business looking after the interests of another SISU business'.
Click to expand...

The charge to ARVO was recorded as being filed in March 2012. When did Sisu stop paying the rent? From my memory of discussions on here I think it was March 2012. As you say, planning for scenario like this?...
 

mattylad

Member
  • Mar 26, 2013
  • #64
oldskyblue58 said:
Dont forget mattylad ARVO is very closely associated with SISU ........ it is a tool to secure the SISU aims so in reality is closely involved at CCFC. In that case it shouldnt be viewed as a normal 3rd party creditor having to be notified, it was in the scheme in the first place
Click to expand...

Yes just trying to keep it simple for posting of info sake but agree that the structure of debt is different to that of the debt owed to ACL for example.
 

Baginton

New Member
  • Mar 26, 2013
  • #65
mattylad said:
That contradicts what BG said live on the radio at 8.15 so I guess its not up to date or it could be ACL will need to send its lawyers in to just confirm it is withdrawing its request although I don't believe that is required.
Click to expand...

you still have to proceed with the case, even if its just to confirm the new stuff and to close the original application, you can't just not have it.
 

bamalamafizzfazz

New Member
  • Mar 26, 2013
  • #66
Originally Posted by Tad
I know, but I'd rather go up and stay up then be a yoyo team.


Brighton Sky Blue said:
We aren't good enough to be in the same division as Peterborough. Read that statement a few times over and it shows why people want to be out of this awful division ASAP.
Click to expand...


But the thing is we are not even a yoyo team. We have gradually got worse over the last 15-20 years through bad ownership.

Imagine we had one known owner who is accountable for Coventry City. Brian Richardson may not have had many fans but he was very much the front man. SISU have had numerous directors moved CCFC into the ownership of different companies, toyed with company assets and all done by different people because nobody is accountable.

I want these crooks out of my club and if staying in league One for a couple of years is what it takes to get one sole owner in who has the interests of the club at mind then I would happily take this to bring better days in future for Coventry City.


I think this is what Tad was saying.
 

torchomatic

Well-Known Member
  • Mar 26, 2013
  • #67
If that is true then we need a buyer that is best for Coventry City not for SISU or ACL. It's about time the Club came first without these two entities squabling over us.

@richh87 said:
I am praying that he acts in the interests of the club and doesn't do the deal that is best for SISU.
Click to expand...
 
B

Brighton Sky Blue

Well-Known Member
  • Mar 26, 2013
  • #68
Sky Blues said:
The charge to ARVO was recorded as being filed in March 2012. When did Sisu stop paying the rent? From my memory of discussions on here I think it was March 2012. As you say, planning for scenario like this?...
Click to expand...

They wanted this to happen all along and use ACL as the fall guys to achieve it without a reputational blow.
 

mattylad

Member
  • Mar 26, 2013
  • #69
Brighton Sky Blue said:
They wanted this to happen all along and use ACL as the fall guys to achieve it without a reputational blow.
Click to expand...

I can come to no other logical conclussion but then why keep funding all season that is what befuddles me? Was it done on a hope of promotion while keeping exposure to a minimum...if so that is very very unscrupilous but were not in these peoples heads.

I guess if SISU agree to a long term funding of the club that will prove us all wrong, if they get out of their own will prove us right and if they are forced out we will never know.
 

hutch1972

Well-Known Member
  • Mar 26, 2013
  • #70
So many experts have been speaking or been quoted over the last week but they all have different opinions as to "what that means" or "where this is" so i have a pretty open mind on it all.
If i had to take a guess, then i'd say this is to be continued for a while yet !!
 
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