A motion to Parliament by Coventry MP has called on Tim Fisher to explain his claims that the distressed Coventry City Football Club Ltd of which Mr Fisher was a director was just a subsiduary of Coventry City Football Club (Holdings) Ltd and also calls on SISU appointed Administrator Paul Appleton to explain why CCFC Ltd was sold without the assets being known.
The motion reads as follows: “That this House notes that at the time when Coventry City Football Club Ltd went into administration on 21 March 2013, the club’s owners claimed on the club’s website that Coventry City Football Club (Holdings) Limited is the club and that Coventry City Football Club Ltd, now in administration, was merely a property subsidiary which owns no material assets and has no employees on or off the pitch.
“Further notes that in response to evidence that some players were registered with CCFC Ltd, Mr Tim Fisher, Chief Executive Officer, told the Coventry Telegraph there had been errors and that, in these instances, the documentation clearly shows Limited as the registering company.
“Further notes that since then the intangible assets register, signed off by Mr Fisher on 19 June 2012, has come to light, and shows that 23 named players at a closing value of £5,507,953.63 were registered as assets of the limited company as at 31 May 2011.
“Further notes that this information flies in the face of what has been claimed repeatedly by Mr Fisher and that this information has been passed to the Football League, the Football Association, HM Revenue and Customs and the joint administrator who has been asked whether he accepts that these assets were held by the limited company at that date; and calls on Mr Fisher to say, in light of the above, why he has made the claims he has, and on Mr Paul Appleton, the joint administrator, to explain why he sold the company without first establishing what its assets were.”
More on this:http://www.coventrytelegraph.net/news/coventry-news/telegraph-probe-sky-blues-administration-5874714
Source: Coventry MAD