Coventry City's owners SISU could appoint their own administrator or go for an adjournment in the High Court case tomorrow morning.
According to the Coventry Telegraph's Les Reid, 'It is understood a “qualifying floating charge” put in place last March by Sisu’s Cayman Island-based subsidiary Arvo Master Fund would enable Sisu/Arvo to appoint its own administrator out of court - after investing more than £50million in the club.'
Brendan Guilfoyle of Sheffield-based P&A Partnership is Arena Coventry Limited's favoured insolvency practitioner and he is quoted as saying: “I’m being proposed as the administrator by ACL... but there is a possibility that Arvo Master Fund Ltd may appoint an administrator of their choice.”
More http://www.coventrytelegraph.net/news/coventry-news/2013/03/21/d-day-for-sky-blues-approaches-92746-33035477/#ixzz2OBtUV5l5
Source: Coventry MAD
Source: FOOTYMAD
