just added a bit more info at the top siSo they are just taking about current speculation and nothing new?
If SISU have the share ownership wrong then the club could be in big trouble imo
The only defense it would seem to me is that SISU have in that case is that the two companies are inextricably linked so it doesnt matter which company has it. Of course that would also admit that the lease is inextricably linked to CCFCH also and give ACL grounds to put CCFCH in to administration too.
Doubt the FL would sanction the sale of the share to a third party unless they could
- pass fit and proper
- demonstrate they had funds
- demonstrate they had a deal to buy the players back
- demonstrate they had agreement on a ground to play in
Any deal for CCFC Ltd and its share has to negotiated through administrator and approved by creditors, unless approval is with held unreasonably
Do players contracts have to sit with the company that owns the share I would have thought so but it appears SISU are saying not. Again comes back to whether two companies are inextricably linked
Seems to me on the face of it that SISU have got themselves in a mess ................ but there may be some plan to this on their part that works, usually have some angle dont they
well according to recent press releases from SISU/administrator it is CCFCH ............ but history says that the playing costs were always a liability of ccfc limited
well according to recent press releases from SISU/administrator it is CCFCH ............ but history says that the playing costs were always a liability of ccfc limited
Arvo has made "loans" to the group that are secured on all the assets of CCFC ltd and CCFCH. ARVO is a fund which SISU operate and work with. ARVO also owns 3 non voting shares in ccfch
"As soon as we have those the board will make a decision, but our job is to try and get Coventry through to the end of the season so the administrator has time to save the club on behalf of the fans."
13.9 Subject to any dispensations granted by the Board, a Club shall either own its ground or have a legally enforceable agreement with its ground's owner for its use by the Club, expiring not earlier than the end of the current Season.
If true that CCFC Limited has the share, could SISU now be in real trouble?
PH4 could in theory now buy CCFC Limited and therefore the football share out of admin. Ok, none of the players contracts in that company, but wouldn't they have to follow the share? Interesting development if true. Tomorrow could be a very intersting day.
Either way a 10 point deduction minumum is to be expected no matter what.
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?