Cardiff City Stadium Ltd v Cardiff City Football Club

Trying ot get this sorted in my head.

The winding up order from the tax man was against Cardiff City Football Club. This was for unpaid taxes from wages.

Now the latest winding up order from a company called Shine is against Cardiff City Stadium Ltd.

So if I am right in my thinking and Cardiff City Stadium Ltd get closed Cardiff City Football Club will still be in business. This means the stadium we are playing in will be in the hands of the administrator who will allow us to play in the place. This would be practical as it would allow some sort of income to still come in.

In the meantime the adminstrators would be looking for an investor to buy the stadium. Perhaps the council would buy it and rent it back to us.

Whatever we would still have a football team to support and no points deduction or am I missing something here.

Maybe I'm being paranoid (Again), but if a winding up order is served against Cardiff City Stadium Ltd, then the administrator would then try and sell it Cheaply to an investor (someone who plays at the stadium). So since we are broke thats us out. Low and behold Cardiff Blues then find money to buy the Stadium and we become tennants.

Trying ot get this sorted in my head.

The winding up order from the tax man was against Cardiff City Football Club. This was for unpaid taxes from wages.

Now the latest winding up order from a company called Shine is against Cardiff City Stadium Ltd.

So if I am right in my thinking and Cardiff City Stadium Ltd get closed Cardiff City Football Club will still be in business. This means the stadium we are playing in will be in the hands of the administrator who will allow us to play in the place. This would be practical as it would allow some sort of income to still come in.

In the meantime the adminstrators would be looking for an investor to buy the stadium. Perhaps the council would buy it and rent it back to us.

Whatever we would still have a football team to support and no points deduction or am I missing something here.

This is a very good question and I am also unsure of the correct answer but at a guess I think you are right up to a point.

I don't think CCS Ltd own the stadium that belongs to CCFC Holdings. At Companies House CCS Ltd nature of business is listed as 'General construction & civil engineering' so basically the winding up order would be closing down a subsidary building firm which shouldn't have any affect on the CCFC Holdings or CCFC Football Club

If Borley is owed his £1.2m by CCS Ltd then he would obviously lose out but has the comfort of a multi-million pound House of Sport to compensate. Compass are covered because they have a mortgage charge over all their equipment and would presumably just leave it in place.

Although the way the club is conducting itself is wrong (even immoral) I could live with it provided the football team emerge unaffected

This is the type of stuff I hate, it really seems like a high level game of poker between the board, the council, the tax man, the creditors, potential owners.......... who cares for our football team and the fans, remember who built the club, the fans

Maybe I'm being paranoid (Again), but if a winding up order is served against Cardiff City Stadium Ltd, then the administrator would then try and sell it Cheaply to an investor (someone who plays at the stadium). So since we are broke thats us out. Low and behold Cardiff Blues then find money to buy the Stadium and we become tennants.

Although the name would seem to indicate that CCS Ltd own the stadium, I sure they don't it belongs to the Holding Company CCFC Holdings.

CCS Ltd was created to build the stadium for the holding company.

However, if you wish to be cynical then CCS Ltd have run up debts got rid of its assets and basically done a runner. No wonder Ridsdale was paid that ‘completion’ bonus and there is a reluctance to sack him, he knows too much.

.....one of the problems with Ridsdale is that he's a clever businessman and knows the ropes very well and knows people too..... however I cant believe there isn't someone out there that cant pick a path through to what he is doing as being illegal, I would love to see him and the whole board taken away in handcuffs......

Thanks for that Tony.

That sound very immoral about CCS. That makes me wonder why Shine are now bothering with a Winding Up order against them.

.....one of the problems with Ridsdale is that he's a clever businessman and knows the ropes very well and knows people too..... however I cant believe there isn't someone out there that cant pick a path through to what he is doing as being illegal, I would love to see him and the whole board taken away in handcuffs......

Believe it or not it isn't.

Unless Ridsdale falls down on his knees and admits he set out to defraud the creditors then the matter is simply a civil issue between CCS Ltd and whoever they owe money to.

Basically a company or individual over spend and then find they can’t service their liabilities. It happens 1000's of times a day and the only recourse to the creditor is to make the debtor company or individual bankrupt or wind it up.

Thanks for that Tony.

That sound very immoral about CCS. That makes me wonder why Shine are now bothering with a Winding Up order against them.

If Shine get 1p in the £ back it amounts to £7,000 which is better than nothing I suppose.

Remember the directors are also liable for amounts equalling their shareholdings in the company. That won't amount to much but would probably cover that payment to Shine

Shine is a mad keen rugby fan.Julian ,who now runs the company,played for Caerleon RFC for donkeys years.

Thanks for that Tony.

That sound very immoral about CCS. That makes me wonder why Shine are now bothering with a Winding Up order against them.

If Shine get 1p in the £ back it amounts to £7,000 which is better than nothing I suppose.

Remember the directors are also liable for amounts equalling their shareholdings in the company. That won't amount to much but would probably cover that payment to Shine

Not too sure how it all work but CCs are a LIMITED company. If they dont have anything how do they pay?

You mention the directors. From what you are saying they will be responsible for payment to Shine?