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Proposed CVA rejected by ACL

2 August 2013

Coventry City Football Club Ltd likely to be liquidated following rejection of administrator's CVA proposal

It is with great regret that a proposed Company Voluntary Agreement (CVA), which would have brought CCFC Ltd out of administration and would have recovered a substantial sum of money for its creditors, has been rejected by Arena Coventry Limited (ACL).
 
It means CCFC Ltd is likely to be put into liquidation which is expected to result in a points penalty for the club going into the new season.
 
The football club and the Alan Higgs Centre Trust accepted the administrator’s CVA, but the City Council, through ACL, have chosen to reject it – leading to possible liquidation and the risk of a 15-point deduction.
 
The club will hold urgent meetings with the Football League this afternoon to go through the next steps for the football club.

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