But that doesn't mean a court has decided a debt is due?
As it happens I think a court would but ACL run the risk of suing a straw man.
There have been no negotiations, Fisher has put paid to that.
How many rooms are in the Ricoh arena already?
Of course they haven't any developing of surrounding land was part and parcel of taking over the football club aswell as buying back the Ricoh. SISU renaged on that option bet they are regretting that now. Once it became apparent SISU weren't going to fulfill their part of that deal the whole thing was scupperdACL were formed on the premis that it would run the ricoh and develop the surrounding area, the truth is they have failed in their primary responsibility just as much as SISU have with the football side of things
I'm not sure that ACL hold the hand that people believe.
In order to force administration ACL will have to demonstrate that SISU cannot pay debts as they fall properly due. All SISU have to demonstrate is that they have the means to pay and that the reason that they aren't paying is because they do not believe that there is a debt, ie they have a crystallised dispute that can be adjudicated on (whether this be in court or some other form of dispute resolution will depend upon the wording of the contract between the parties).
Undoubtedly, ACL will argue that SISU cannot pay or why would they threaten liquidation? SISU will counter this by saying they were using their bargaining power and that ACL would have known this (ie all is fair in business). I actually think the court would agree with SISU.
In fairness this was probably the only move ACL had as they couldn't contemplate spending masses of solicitors fees suing the club having been told, "touch us and we'll liquidate" as this would have been seen throwing good (taxpayers money) after bad.
I'm pretty certain it hasn't.Pretty certain they debt already been in court and deemed by the court as due!! It is why acl were able to levy sequestration proceedings on sisu account
Why should a football club be responsible for developing land?
Surely supporters of clubs would be insistent on this money being invested in the football club?
Yes that's a perfect world right?
So if such a perfect scenario is possible why has there been no buyers?
If I ran a business and my landlords were seeking to usurp me themselves I'd be mighty pissed and my lawyers would be very busy!
or perhaps they don't and we will get liquidated having paid out a million pounds in costs for the privilege, perhaps p&a will like Plymouth send out threatening demands to supportersPerhaps there are no buyers because SISU want too much in an attempt to get some losses back. Perhaps the council know that in administration that a fair offer will be made. Perhaps they have someone in the wings.
Perhaps there are no buyers because SISU want too much in an attempt to get some losses back. Perhaps the council know that in administration that a fair offer will be made. Perhaps they have someone in the wings.
If they have someone waiting in the wings (highly doubtful) then so what? They can only buy the club if the independent administrator decides that they are a viable proposition.
That could take 12 months. By which time the club will have been stripped of most of its playing staff and be clinging on for survival in the league.
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That land belongs to acl, it was sold to acl on the condition it was redeveloped. Much in the same way that Tesco had to pay for the junction improvements on the a444.
Not disputing that coundon, but by having so many clauses on any sale of the stadium will make it almost impossible for anybody to buy. At the end of the day we want a successful football team on the pitch and not one famous for re-building a city.
As things stand now not only are things at a standstill but the stadium itself is beginning to rot away.
Why will it? If done properly whoever invests into the redevelopment will make money out of, not lose it.
Its an opportunity for CCFC, not a hindrance.
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