Insolvency Practitioner and Coventry City supporter Alan Limb has said that Admininistrator Paui Appleton's public statement should give the City support a clearer picture and better understanding of what the Administrator hopes to achieve for the Sky Blues.
Speaking about tomorrow's statement which must include information on what caused the administration, the company’s financial position, what the adminstrators have done and what they propose to do - including how the administration should end, Mr Limb said to the Coventry Telegraph's Les Reid: “The chances are the best way to achieve the best outcome for creditors is to achieve a sale, but that might not be possible if all that’s in CCFC Ltd is the lease to play at the Ricoh.
“If the administrator doesn’t have the ability to sell “the club” or claim assets from Holdings (such as players’ registrations and contracts), all he might be able to do is find people to sell the lease and maybe the golden share to, and that might be Holdings.”
More on this: http://www.coventrytelegraph.net/news/coventry-news/coventry-city-fans-anxiously-awaiting-3812607?
Source: Coventry MAD