Does that change the views of people who prefer sticking with SISU?
Just a name, and maybe clutching at straws so early on in the proceedings. SISU may not let go anyway.
I will believe it when i see it with my own eyes talk is cheap....
and they could still pay up before Friday which takes this all somewhere else in this mess
He'll certainly be buying on the cheap and an American interested in property development hardly means the club will be the priority.
Ah, but what about due dilligence. You know the stuff people say sisu didn't do properly and subsequently led to the rent-strike and falling out with ACL?
Due dilligence take weeks. And requires access to all books, agreements and contracts currently in sisu's posession.
Could ACL not choose to defer the court case if heads of terms were agreed, pending completion of due diligence? But with the chance of returning to the court if 'SISU turn bad'?
Again....
ACL are the only ones who can prevent the court case, but I don't think they will. It really looks like a well orchestrated plan:
1) Get Elliot/Hoffman to find potential new owners
2) Push ccfc into administration to force the change of ownership
3) Inform the Trust that new owners are looking around
4) Leak the prospect of new owners to excite the fans and have them accept points deduction.
It's a tough world and it will be very interesting to see how sisu respond.
They may actually take a pragmatic view and just accept any reasonable offer that include some sort of potential recovery of part of their investment.
where do things stand legally if ACL are essentially trying to force CCFC into admin to allow their preferred new owners in? I imagine it's just one of those things in business but could we end up with a huge legal wrangle if SISU don't want to go quietly?
I still maintain that the directors of ACL had to act on the threat of liquidation. They couldn't allow their main debtor to fold as they would be in deriliction of their duties to do so. They had to act, and this is one way of them doing so. Frankly, I can't think of another.
You may be correct, insomuch as that they wanted new owners, and that SISU's latest over-played hand gave them the lawful reason they needed. Who knows? But they had to act. That's certain
Does that change the views of people who prefer sticking with SISU?
.
I still maintain that the directors of ACL had to act on the threat of liquidation. They couldn't allow their main debtor to fold as they would be in deriliction of their duties to do so. They had to act, and this is one way of them doing so. Frankly, I can't think of another.
You may be correct, insomuch as that they wanted new owners, and that SISU's latest over-played hand gave them the lawful reason they needed. Who knows? But they had to act. That's certain
Totally agree with that MMM...I wonder if TF & co are regretting the liquidation "pronto" ultimatum as it seems to have set about a chain of events which may wrestle any control from out of their hands. From the outside it looks like a massive 'schoolboy error' as it seems to have backfired spectacularly and in my opinion they've lost even more credibility with the way they seem to have been outwitted at every turn from their clear tactics of trying to distress ACL to their forcing their opponents into a corner,seemingly not having considered the possible consequences of such inflamatory action.
No win situation.
If SISU don't settle then administration, points deduction, loss of players and several more years in Division 1.
If they settle then business as usual. Which is actually what TF said. But .............. still a possibility of promotion.
Surely SISU to pay up is a short term want !!!
Do we ?
The only way we can go up this season is with SISU's help. !!!![/QUOTE
Exactly, we are only 3 points off the play-offs and some people are singing and dancing about admin and a 10 point deduction and new owners we know nothing about.
Promotion this season is realistic and must be a priority
Do we ?
The only way we can go up this season is with SISU's help. !!!![/QUOTE
Exactly, we are only 3 points off the play-offs and some people are singing and dancing about admin and a 10 point deduction and new owners we know nothing about.
Promotion this season is realistic and must be a priority
Unless a party buys them out. In which case ACL will stall the admin process leaving SISU to sell.
Totally agree with that MMM...I wonder if TF & co are regretting the liquidation "pronto" ultimatum as it seems to have set about a chain of events which may wrestle any control from out of their hands. From the outside it looks like a massive 'schoolboy error' as it seems to have backfired spectacularly and in my opinion they've lost even more credibility with the way they seem to have been outwitted at every turn from their clear tactics of trying to distress ACL to their forcing their opponents into a corner,seemingly not having considered the possible consequences of such inflamatory action.
Yes they may have some more fight left but from the outside at least it looks like they're beaten...and they know it. I wouldn't rule out a white flag being raised before too long.
Agreed. As I've said before Sisu have tried to play hardball, ACL have reacted and called their bluff. It's a mess but at least matters have been brought to a head. Whether people like it or not ACL had little option. It's just sods law we are close to the play offs but we have been flirting with them all season (getting close then throwing away a good position) and at the time looked out of it.
Lets just hope either way we see a resolution to all of this as soon as possible
At the Colchester game Labovic and Fisher told ACL that they would liquidate the club. That triggered a reaction by ACL. It is of course possible that ACL were just waiting for SISU to come out with that so they could press forward with their own resolution to the problems. SISU did not expect that and have been pretty quiet since the administration hearing was set in stone.What ACL said months ago is that winding up "is an option"................ it always has been .............. doesnt mean they would take it
Yes ACL have judgement for a statutory demand ............ the remedy for non payment of such is winding up........ that isnt what ACL have gone for
what SISU through TF said was
""We are at a tipping point and insolvent liquidation cannot be reasonably avoided."
"They need to re-enter negotiations pronto or we file. We'll have no option because there would not be reasonable probability of avoiding insolvency liquidation."
In reality neither are a threat ..... more a strong expression of what the realities are.
I dont understand why people on both sides of the argument are getting their knickers in a twist over it....... neither have said anything that wasnt actually true
where do things stand legally if ACL are essentially trying to force CCFC into admin to allow their preferred new owners in? I imagine it's just one of those things in business but could we end up with a huge legal wrangle if SISU don't want to go quietly?
What ACL said months ago is that winding up "is an option"................ it always has been .............. doesnt mean they would take it
Yes ACL have judgement for a statutory demand ............ the remedy for non payment of such is winding up........ that isnt what ACL have gone for
what SISU through TF said was
""We are at a tipping point and insolvent liquidation cannot be reasonably avoided."
"They need to re-enter negotiations pronto or we file. We'll have no option because there would not be reasonable probability of avoiding insolvency liquidation."
In reality neither are a threat ..... more a strong expression of what the realities are.
I dont understand why people on both sides of the argument are getting their knickers in a twist over it....... neither have said anything that wasnt actually true
In reality neither are a threat ..... more a strong expression of what the realities are.
At the Colchester game Labovic and Fisher told ACL that they would liquidate the club. That triggered a reaction by ACL. It is of course possible that ACL were just waiting for SISU to come out with that so they could press forward with their own resolution to the problems. SISU did not expect that and have been pretty quiet since the administration hearing was set in stone.
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