Can some explain the CVA situation to me

[exit2]

OK, let me get this right and it slightly contradicts what I believed earlier about SLH and SFC being different companies and we should have taken the 10 point hit.

 

OK lets say we accept the 10 point deduction and sign the non appeal clause. In four months time the FL then say can we see your CVA to prove to use that you have serviced your creditors demands. The problem here is that Southampton Football club are unable to produce a CVA because in fact we were not in administration it was SLH

 

They then lamp us with another point deduction?

 

My conditions to allow this clause would be to say ok we have the 10 points deduction and sign the non appeal but and a big BUT there will be no further action taken aginst the club for being in administration in the eyes of the Football League

 

does that make sense?

[ladysaint]

Not to me but then again nothing is making sense to me at the moment. I think someone should just clarify in plain and straigh english what the present situation is.

[Glasgow_Saint]

This company can help

 

http://www.chamberlain-co.co.uk/company_voluntary_arrangement/?gclid=CJ3A6bygl5sCFZkA4wodcXGboQ

[Faz]

I was thinking the same thing.

 

Normally the club in admin has to come out via a CVA, but SFC never were in admin, and so can't.

 

We need the FL to revoke their notice to withdraw membership, which they issued when they decided SLH and SFC were inextricably linked. The FL can't do it under their current regulations becasue we are not coming out of administration via a CVA. That's why they need a special meeting. Perhaps it's not about the 10 points at all?

 

Perhaps?

[Amesbury Saint]

OK, let me get this right and it slightly contradicts what I believed earlier about SLH and SFC being different companies and we should have taken the 10 point hit.

 

OK lets say we accept the 10 point deduction and sign the non appeal clause. In four months time the FL then say can we see your CVA to prove to use that you have serviced your creditors demands. The problem here is that Southampton Football club are unable to produce a CVA because in fact we were not in administration it was SLH

 

They then lamp us with another point deduction?

 

My conditions to allow this clause would be to say ok we have the 10 points deduction and sign the non appeal but and a big BUT there will be no further action taken aginst the club for being in administration in the eyes of the Football League

 

does that make sense?

 

No.

 

but I am sure all will turn out ok.

We are not the first to go into admin or the last.

 

I await some positive statements over the next 72 hours

[Evo]

I guess this has already been dissected but I like the comparison:

 

"IMAGINE this scenario. Manchester United pummel Arsenal tonight at The Emirates for 90 minutes but, totally against the run of the play and with just seconds remaining, Theo Walcott exploits a hole - a loophole even - in the United defence and is upended in the penalty area by Nemanja Vidic.

 

It is a clear penalty, but the referee waves plays on. Why? Because he thinks it would be unjust for Manchester United to be beaten. He has decided against applying the letter of the law and, instead, offered his own moral interpretation on the game.

 

It is a scenario that would rightly provoke outrage among not just Arsenal supporters but football fans all over the world. Why? Because whether you agree with an outcome or not, sport is governed by rules, regulations and laws. Without them there is no game. No official or governing body can simply construe rules to suit what feels like the right and fair outcome.

"

 

 

http://blogs.telegraph.co.uk/jeremywilson/blog/2009/05/05/southampton_saga_also_places_football_league_under_the_spotlight

 

In answer to Exit2's question, I don't see how a CVA could be used here, so we'd presumably have to rely on the FL bending their own rules again to avoid a further penalty - the boot would be on the other foot this time, morally we wouldn't deserve another penalty but legally we would

[Evo]

http://www.football-league.co.uk/staticFiles/b3/7a/0,,10794~96947,00.pdf

 

However, The League acknowledges that the approval of a formal CVA

may not always be possible and provision exists within The League’s

insolvency policy for clubs to be permitted to continue as a member club

without a CVA. This only applies in ‘exceptional circumstances’ and is at

the absolute discretion of The Football League Board.

 

This bit makes me laugh:

 

In any insolvency situation The League’s priorities are threefold, firstly the

continuation of the football club if at all possible

 

I wish I'd gone down the boozer tonight