CVA's - sometimes successful

[PaulSaint]

Darlington get a yes in the first round of voting and thats with 9 pence in the pound being offered? Maybe we could come out of this with just the -10 points?

 

The Leeds and Luton votes werent at the height of the downturn either?

 

Link

[benjii]

Yes, but a CVA is a process of exiting admin.

 

The entity in admin in our case will be wound up.

 

I expect we could engineer a situation whereby SFC Ltd enters admin and emerges with a CVA, but if the FL insist the PLC has one we are fooked in any case.

 

This is why they were retarded to try and apply their insolvency rules.

[PaulSaint]

Could we technically apply for CVA's for both the companies placed in admin?

[benjii]

Could we technically apply for CVA's for both the companies placed in admin?

 

I'm not expert on CVAs but... (I think)

 

A CVA is a form of exiting admin and recommencing trading.

 

I don't think anyone wants to buy the PLC, ergo it will not exit administration. A CVA is therefore completely inappropriate and unobtainable.

[S-Clarke]

I'm not expert on CVAs but... (I think)

 

A CVA is a form of exiting admin and recommencing trading.

 

I don't think anyone wants to buy the PLC, ergo it will not exit administration. A CVA is therefore completely inappropriate and unobtainable.

 

...but because the FL were divvs and stated SFC and SLH was one and the same, they now want us to produce a CVA even though it's impossible to do so.

 

this is what they're at loggerheads about.

[benjii]

...but because the FL were divvs and stated SFC and SLH was one and the same, they now want us to produce a CVA even though it's impossible to do so.

 

this is what they're at loggerheads about.

 

Precisely.

[PaulSaint]

If its that clear-cut stupid why not tell the media, surely if the BBC, SSN, etc start discussing its stupidity too it might put pressure on the FL to review it?

[benjii]

If its that clear-cut stupid why not tell the media, surely if the BBC, SSN, etc start discussing its stupidity too it might put pressure on the FL to review it?

 

No one gives a **** and it isn't the first time a football governing body has acted stupidly!

 

As far as people are concerned we are in admin and deserve a penalty. I would agree with that. What we don't deserve is a further points penalty if a 75% majority of our creditors are satisfied, purely because we cannot obtain a specific type of agreement.

[S-Clarke]

If its that clear-cut stupid why not tell the media, surely if the BBC, SSN, etc start discussing its stupidity too it might put pressure on the FL to review it?

 

 

I think there's still a little more too it, beyond the FL.

 

If you take into account a couple of Tony's posts, he also talks about ''minor legalities'' (apart from the FL stuff) on a few occasions.

 

It kind of worried me when I read that, as you'd have hoped they'd have made the most of the 21 days ironing that out.

 

+ They should have been aware of the CVA Issue well before the 21days. Something doesn't add up...it just seems that they may be using the FL stuff to mask over additional issues with the deal. (Only my 2 pence..)

[benjii]

I think there's still a little more too it, beyond the FL.

 

If you take into account a couple of Tony's posts, he also talks about ''minor legalities'' (apart from the FL stuff) on a few occasions.

 

It kind of worried me when I read that, as you'd have hoped they'd have made the most of the 21 days ironing that out.

 

+ They should have been aware of the CVA Issue well before the 21days. Something doesn't add up...it just seems that they may be using the FL stuff to mask over additional issues with the deal. (Only my 2 pence..)

 

Didn't Fialka say the goal posts were moved last Thursday (ie just before the end of the Exlcusivity Period)?

[Strangely Brown]

If SFC are not inextricably linked with SLH why couldn't the footy club pay its staff yesterday?

 

Rules is rules we know, but lets be honest we are not going to win the argument with the FL on the application of the rules when the reality of the situation is there for all to see.

 

Take the points deduction, don't appeal take the club over and lets get selling those season tickets

[The9]

If SFC are not inextricably linked with SLH why couldn't the footy club pay its staff yesterday?

 

Rules is rules we know, but lets be honest we are not going to win the argument with the FL on the application of the rules when the reality of the situation is there for all to see.

 

Take the points deduction, don't appeal take the club over and lets get selling those season tickets

 

People keep posting stuff like this, and they keep missing the point. This isn't about -10, we're at LEAST going to get nailed with -10. This is now about the CVA, not having one because we're not legally required to, and another -15, and the likelihood of anyone buying a club likely to begin on -25 (if at all).

 

Or it might possibly be about money men pulling out and people with preferred treatment struggling to replace them.

 

Who knows ?

[VectisSaint]

If its that clear-cut stupid why not tell the media, surely if the BBC, SSN, etc start discussing its stupidity too it might put pressure on the FL to review it?

You seem to forget that Sky and BBC partly fund the FL, they will not rock the boat and risk losing their TV rights, or having them increased in value.

[ringwood]

yes its about the lack of cva, the application of corporate law by the FL against SLH whereas corporate law says that SFC isn't in admin.

 

if any bidder signs to agree the no appeal and therefore -10 they then agree that SFC is in admin, then that means we need a cva, which under corporate law we can't provide. the deal Imagine is structured to buy the assets of SLH.

 

SFC can't pay the staff as it has no cashflow as because the league havn't granted a license it can't sell season tickets.

 

SLH could have income from the stadium or whoever is using the land at Jacksons, SFC has no income as no games being played.

 

If the Swiss are serious the only way forward is for them to take over SLH completely, that would satisfy the FL

[The9]

You seem to forget that Sky and BBC partly fund the FL, they will not rock the boat and risk losing their TV rights, or having them increased in value.

 

As if the FL would turn down money on a matter of principle !!?

 

Also, as the bidding process is sealed bids made by the tv channels and there's no possibility of the cost going up unless the channel itself chooses to offer more.