Arena Coventry Limited have said that they are not going to stop Coventry City Football Club Ltd being liquidated by Administrator Paul Appleton.
Speaking to the Coventry Telegraph's Les Reid, an ACL Spokesman said: “ACL does not currently anticipate formally requesting another CVA from the administrator. He has made it quite clear to all stakeholders that he plans to conduct the remainder of the process as he sees fit.
“ACL’s motivation for rejecting the CVA was about much more than pure financial interest. Along with various other parties, ranging from Sky Blues fans and Supporters Direct through to local MPs and potential bidders, ACL was not happy with the way the administration process was run.
“Accepting the CVA would have been a tacit approval of a process that few people save Sisu and the administrator had any faith in. Along with HMRC, ACL rejected the CVA.
“We did so because we have significant doubts about how the process has been managed – particularly with new evidence that the administrator should have been aware of coming to light on an almost weekly basis.”
More on this: http://www.coventrytelegraph.net/news/coventry-news/ricoh-arena-owners-rule-out-5842597