Administrator May Have To Go To Court

16 May 2013 03:58
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Coventry City Limited Administrator Paul Appleton may have to go to court to establish exactly which company held the golden share.

According to the Coventry Telegraph, who say that the report  issued today by the Administrator is not expected to be publically available at Companies House until late next week, offers no conclusion on whether the golden share, which is the Football League's licence to compete in the league was with CCFC Lmited before Avro Master Fund, who are owned by SISU and based in the Cayman Islands placed the company whose sold Director is Tim Fisher in administration and who, the report claims are now owed more than £10m

The report also says that Mr Appleton may need to go to court in order to ascertain exactly what the assets of the company place in administration are and in which company, the share actually was with

As does it say, according to the Coventry Telegraph that there are two parties who have expressed an interest in buying CCFC Ltd. which are believed to be the consortium involving Joe Elliott and Preston Haskell and Coventry City Football Club (Holdings) and does say that if no further information is not forthcoming, a decision over a sale could be made "very shortly".

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Source: Coventry MAD