Coventry City CEO Tim Fisher has said that he is not ruling out the possibility of sporting sanctions if if Arena Coventry Limited, one of the four major creditors, reject the Company Voluntary Agreement at the creditors meeting on June 22nd
If the CVA were to be rejected and ACL decided to accept half a penny in the pound instead of 26.5p in the pound, CCFC Ltd would be liquidated and the club would face a minimum of a 15 point deduction, plus other censures.
Speaking to The Daily Telegraph, Mr Fisher said: "There is a creditors’ meeting on July 22. ACL, as a principle creditor, could vote for the CVA. They could therefore get what money is going to be allocated through that process. Or they could say no, and we would head towards liquidation.
"There is a probability you will get a sporting sanction, extra points deduction. We are not discounting that at all."
More on this; http://www.telegraph.co.uk/sport/football/teams/coventry-city/10174669/Coventry-City-confirm-groundshare-with-Northampton-Town-could-last-five-years.html
Source: Coventry MAD
Source: FOOTYMAD
