who thinks we will be liquadated if sisu dont win the judicial review (4 Viewers)

[NorthernWisdom]

Welcome break from memory. Alot of parallels with us. If I remember correctly they tried to wrestle control by blocking refinancing of debt. They were shareholders but not majority, I think they only had enough to be considered junior shareholders (whatever that means). If you Google sisu/welcome break there's loads on it, including an interview with Joy after using the courts as an attempt to stop the refinancing so they could do it. I think they failed too iirc.

They succeeded. They even turned down half decent offers in order to succeed.

Should have been a clue really that they'd be hassle.

 

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[Senior Vick from Alicante]

Can you not liquidate a loss making business in your portfolio to offset tax liabilities in your profit making ones? Just a general question to the likes of OSB which may give us a better understanding of the possible scenario.

 

[skybluetony176]

They succeeded. They even turned down half decent offers in order to succeed.

Should have been a clue really that they'd be hassle.

Do you know when that was and if they're still involved now?

 

[NorthernWisdom]

Do you know when that was and if they're still involved now?

2004, they got a full settlement of what they were owed.

Good business sense that, a ballsy investment company that won't take shit, just what we need.

http://www.risk.net/credit/feature/1522975/unwelcome-breakdown

 

[kmj5000]

You are having a laugh. Buying Coventry City was a monumental blunder.

I was!

 

[Como]

It would be nice to think that one day the full story will come out.

I presume the original plan was to get us back up and sell at a tidy profit.

Not managed very well and they got in deeper than they probably every intended to.

Lost a lot of money but no doubt they have used those losses to offset profits from more successful investments.

So now, well they are losing money whatever that rate is.

So why stay, has to be the JR, what else could there be.

Once the JR is concluded, either way, the losses will continue.

So why would they continue to fund a losing operation with no obvious future pay back. The only reason to stay is if there is some rainbow that nobody else can see at the moment

The elements that constitute the Golden Share could be hived off to say CCFC 2014 Ltd. I thought all the debt was with SISU so that simplifies things.

 

[The Gentleman]

There's a big difference between fucking up a business and actively seeking to destroy a 100 year old professional sports team. Their company of businesses would fall apart if they allowed CCFC to go to the wall.

How many companies with years and years of tradition and a good name in the business they were in have Sisu fucked about with before. I don't think people around the world would blink at us being put into liquidation. I think it would be more a case of 'some you win, some you lose' and then they move onto the next company they want to bleed dry.

With regard to the OP, who knows.