Football League Could Be Getting Advice - Guilfoyle
Guilfoyle on what is holding up the Football League
Brendan Guilfoyle, who was Arena Coventry Limited's preferred Administrator before Tuesday's High Court saw ACL agreeing to SISU's preferred administrator Paul Appleton, feels that the Football League could be getting more legal advice which is why there has been no decision on whether Coventry City will be docked points.
Speaking to the Coventry Telegraph's Les Reid, Mr Guilfoyle said: "In normal circumstances, the notice of the suspension of the Football League share and the sporting sanction of ten points would be received within 48 hours of the Football League being formally notified of the administration.
"We seem to have in this instance a contentious administration where it is being said that the company in administration isn’t the one that operates the football club.
"All the external evidence would suggest that’s not right - including the Football League’s last annual return (accounts) showing the shareholder as being with Coventry City Football Club Limited, the company in administration.
"But we don’t know what’s developed during the second half of 2012 and the beginning of 2013. So we’re waiting for the Football League to make a determination.
"It’s normally fairly quick. I’m supposing the Football League are receiving representations from Holdings and the League must be dealing with that.
"The Football League could be getting external legal advice. This could be what’s slowing things down.
"The directors report, within the last filed accounts for Coventry City Football Club Ltd for the year ending May 2011, filed in June 2012 and signed by Tim Fisher (Sky Blues chief executive), states: "The company is principally engaged in the playing activities of a professional football club.
"If the Football League share is now with Holdings, when was it transferred?"
"For certainly, the share needs to be suspended and the sporting sanction applied. Thereafter, the Football League would expect the administrator to conduct an open and transparent sale process with a view to maximising the return to creditors and to exit from administration via a creditors voluntary arrangement."
Read More http://www.coventrytelegraph.net/news/coventry-news/2013/03/28/legal-wrangling-holding-up-10-point-deduction-for-coventry-city-92746-33078770/#ixzz2OqLEdnpf
Read More http://www.coventrytelegraph.net/news/coventry-news/2013/03/28/legal-wrangling-holding-up-10-point-deduction-for-coventry-city-92746-33078770/#ixzz2OqJEV7q2
Source: Coventry MAD
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