Otium company created by our directors (1 Viewer)

CUS Wyken · Nov 2, 2011

So whats the SP with this?

Are they allowed to do this?

I'm not very savvy with all this business lark but surely that MP who came public about SISU the other week should be informed regarding SISU's latest venture involving Coventry Directors.

Especially using the CCFC as a listed partner.

skyblueinBaku · Nov 2, 2011

As Otium are, I believe, a sports and leisure company, they might have been created for something connected with the land by the Ricoh. Whatever the reason for setting this company up in April, I don't think that any good will come of it as far as CCFC is concerned. As Ken Dildo and Iggy Oggy are two of the directors, don't expect any straight or truthful answers to questions!!

coundonskyblue · Nov 2, 2011

Am I being cynical here in thinking they are trying to buy half the Ricoh through this company?

sw88 · Nov 2, 2011

coundonskyblue said:
Am I being cynical here in thinking they are trying to buy half the Ricoh through this company?

the council would check every possible link to SISU before letting anyone buy into SISU. I think they hate them as much as we fans do

skyblueinBaku · Nov 3, 2011

coundonskyblue said:
Am I being cynical here in thinking they are trying to buy half the Ricoh through this company?

No. You might be quite accurate with your guesswork. But I can't see the council/Higgs Charity falling for it.

OyJimmy · Nov 3, 2011

skyblueindorset said:
No. You might be quite accurate with your guesswork. But I can't see the council/Higgs Charity falling for it.

The club has the buy back deal agree on the stadium not this new company. I'm guessing the rights to buy back are non transferable.

TheParsonsHose · Nov 3, 2011

Perhaps its a self tanning company for the directors, feck knows.

skybluesam66 · Nov 3, 2011

its nothing new in business - Every company you work for will have dormant companies set up, ready to use if opportunity or tax benefits arise.

ccfcway · Nov 3, 2011

sw88 said:
the council would check every possible link to SISU before letting anyone buy into SISU. I think they hate them as much as we fans do

Pretty sure I walked past the council buildings the other day and looked in the window and saw a "SISU OUT" poster

Wrenstreetcarpark · Nov 6, 2011

Could it not be that they put CCFC into administration, and then with new investors agree with the administrator to start again under a new company?

Rather like crooked builders.

TheParsonsHose · Nov 6, 2011

Nobody and I mean nobody connected with this club should allow ANYBODY to develop anything remotely connected with CCFC under another company that could be detrimental to our income as a club.

Sir Digby Chicken Caesar · Nov 6, 2011

Wasn't there a rumour recently that was something along the lines that SISU were transferring money/debts associated with the football club to another company?

Anyone else remember this? This thread just rang a bell when I read it.

SkyBlueScottie · Nov 6, 2011

OyJimmy said:
The club has the buy back deal agree on the stadium not this new company. I'm guessing the rights to buy back are non transferable.

The right to buy back has changed ownership a few times, for instance, A loan was secured against buy back rights, the loanee was of course Geoffrey Robinson, this of course meant he was in a bargaining position when it came to selling the club to SISU.

Sir Digby Chicken Caesar · Nov 6, 2011

SkyBlueScottie said:
The right to buy back has changed ownership a few times, for instance, A loan was secured against buy back rights, the loanee was of course Geoffrey Robinson, this of course meant he was in a bargaining position when it came to selling the club to SISU.

But do SISU actually own CCFC, don't they claim nobody owns more than 10% of the club and thats the reason their investors don't have to be named?

Ashdown · Nov 6, 2011

It is feasable I suppose that this new company could be used in some way concerning CCFC, I'm not sure about administration or debt shifting or anything sinister though. I think if it was that simple it would have been done. I'm sure SISU want out of the club, incurring ongoing debts whilst 90% of the fans hate them is not ideal for any outfit. I think January 2012 will be the point of enlightenment and if they manage to cash in a few more assets, it will be then they make their move.

Wrenstreetcarpark · Nov 6, 2011

The buy back agreement is owned by CCFC. Anyone that owns CCFC owns the buy back.
Oh and it appears that Otium is only a week old...

Sir Digby Chicken Caesar · Nov 6, 2011

Mmm...

Another 11-12 Hanover Street company thats for sure.

sky_blue_up_north · Nov 6, 2011

the only thing I know is hope to fuck we never sell any of the stadium to this lot, else we are really stuffed....

cloughie · Nov 6, 2011

Name & Registered Office:
OTIUM ENTERTAINMENT GROUP LIMITED
11-12 HANOVER STREET
LONDON
UNITED KINGDOM
W1S 1YQ
Company No. 07612487

Status: Active
Date of Incorporation: 21/04/2011

Country of Origin: United Kingdom
Company Type: Private Limited Company
Nature of Business (SIC):
None Supplied
Accounting Reference Date: 31/05
Last Accounts Made Up To: (NO ACCOUNTS FILED)
Next Accounts Due: 21/01/2013
Last Return Made Up To:
Next Return Due: 19/05/2012

Info from companies house

Wrenstreetcarpark · Nov 7, 2011

skyblueindorset said:
As Otium are, I believe, a sports and leisure company, they might have been created for something connected with the land by the Ricoh. Whatever the reason for setting this company up in April, I don't think that any good will come of it as far as CCFC is concerned. As Ken Dildo and Iggy Oggy are two of the directors, don't expect any straight or truthful answers to questions!!

This has to be the most important thread on this forum at the moment.

CUS Wyken · Nov 7, 2011

cloughie said:
Name & Registered Office:
OTIUM ENTERTAINMENT GROUP LIMITED
11-12 HANOVER STREET
LONDON
UNITED KINGDOM
W1S 1YQ
Company No. 07612487

Status: Active
Date of Incorporation: 21/04/2011

Country of Origin: United Kingdom
Company Type: Private Limited Company
Nature of Business (SIC):
None Supplied
Accounting Reference Date: 31/05
Last Accounts Made Up To: (NO ACCOUNTS FILED)
Next Accounts Due: 21/01/2013
Last Return Made Up To:
Next Return Due: 19/05/2012

Info from companies house

and the directors are LB and KD.

SkyBlue_Bear83 · Nov 7, 2011

I have heard this is to put us into admin, this is just speculation/rumour also I have no idea how business works so don't know if they could do this etc.

crowsnest · Nov 7, 2011

It was set up when Ranson left and the shares in CCFC holdings have been transferred from Sky Blue Sports and Leisure.

It is no different to the original set up with sbs&l owning CCFC holdings - only this company has no links with Ranson.

But it would be interesting to find out the shareholders if anyone can.

I wish I had not said anthing about this now after reading what has been said in the last week. :facepalm:

Skybluetracy · Nov 7, 2011

What is its relationship with CC Holdings and with Sky Bkue S and L. I thought Brody took Ranson'a shares. So why the need to move them form SB S a L? smoke and mirrors?

oldskyblue58 · Nov 7, 2011

So that makes CCFC owned by Otium crowsnest because CCFC H owns CCFC 100%. Not according to the Football League though, unless SBS&L actually owns Otium.

Struggling to see any positive reason to do this other than some sort of protection for SISU investors or to facilitate purchase of something or unconnected.

Transferring creditors to Otium leaves a opposite but corresponding transaction in the books of the company making the transfer so doesnt get rid of it just puts it in a different place. Also setting something up like that to go bust has got to be done with the intention to defraud creditors (biggest of which aside from SISU is HMRC) got to be open to challenge and would be criminal. But i am no insolvency practitioner

crowsnest · Nov 7, 2011

oldskyblue58 said:
So that makes CCFC owned by Otium crowsnest because CCFC H owns CCFC 100%. Not according to the Football League though, unless SBS&L actually owns Otium.

Yes CCFC owned by Otium. But who owns Otium?

Sub · Nov 7, 2011

might be handy to forward all this info onto the FA and that MP whos name i can not remember:facepalm::facepalm:

crowsnest · Nov 7, 2011

oldskyblue58 said:
Also setting something up like that to go bust has got to be done with the intention to defraud creditors (biggest of which aside from SISU is HMRC) got to be open to challenge and would be criminal. But i am no insolvency practitioner

This rumour was started by covmad. A lot of rubbish on that site at the moment.

Wrenstreetcarpark · Nov 7, 2011

OSB58 always seems to hit the nail on the head.
If they don't owe anything to HMRC and all they owe is to the investors and those investors are happy that their fund is closed, doesn't that open the way for a pre-pack administration, renegotiation of all non-football contracts and a new future for SISU control?

Nonleagueherewecome · Nov 7, 2011

Sub said:
might be handy to forward all this info onto the FA and that MP whos name i can not remember:facepalm::facepalm:

He's called Dominic Collins.

wingy · Nov 7, 2011

Nonleagueherewecome said:
He's called Dominic Collins.

Damien collins mp ,david conn @ the guardian would also find interest in this

Johnnythespider · Nov 7, 2011

Could otium ( sounds like a new breakfast cereal ) be used as a front to try a purchase half of the ricoh ?

Nonleagueherewecome · Nov 7, 2011

It all sound a bit obvious and blatantly corrupt for them to get away with it. People laughed when I first said "look where Luton are, there but for the grace of God.." Well, a couple of 25 point deductions will soon see us catching up with them. If there's one thing SISU can do to wreck us even more, it could be this.

cloughie · Nov 7, 2011

Johnnythespider said:
Could otium ( sounds like a new breakfast cereal ) be used as a front to try a purchase half of the ricoh ?

Think it should be opium
They seem not to think to clearly

Johnnythespider · Nov 7, 2011

coundonskyblue said:
Am I being cynical here in thinking they are trying to buy half the Ricoh through this company?

Sorry Coundon posted the same thing myself without reading all posts, we must both be cynical

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