Forest Holding Company Liquidated

Wasn't that just the mechanism that Doughty used to gain control of the club?
 
by the looks of it, because they split it into several companies
06459422 NOTTINGHAM FOREST DEVELOPMENT LTD
03730065 NOTTINGHAM FOREST FOOTBALL ACADEMY LIMITED
01630402 NOTTINGHAM FOREST FOOTBALL CLUB LIMITED
 
After all the inactivity at the club.

You do realise now that folk are going to think we have no money and are going bust, so will have to sell all our players to survive.
 
Status: Dissolved 01/08/2008
Date of Incorporation: 18/12/1996

first bit of information after the registered address
 
Oh the link's changed.
 
Start a fire and claim on the insurance.
 
am i being stupid? what has CFFN Holdings got to do with Forest?

Nottingham Forest Development LTD, Nottingham Forest Football Academy LTD and Nottingham Forest Football Club LTD are all still going strong and certainly they are the ones that count?

CFFN are not Nottingham Forest Holdings... they are just another company owned by ND... a company that loaned Forest 26 odd million... there voluntary insolvency does not equate to Notttingham Forest being insolvent... just because Northern Rock went belly up doesn't mean I did as a Northern Rock Mortgage holder...
 
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I'm sure CFFN was the company Nigel D set up, some means of forcing old NFFC shareholders to sell up when he had a majority. Forget the niggly details.
 
bakeri666 said:
am i being stupid? what has CFFN Holdings got to do with Forest?

Nottingham Forest Development LTD, Nottingham Forest Football Academy LTD and Nottingham Forest Football Club LTD are all still going strong and certainly they are the ones that count?
Click to expand...

CFFN (NFFC backwards) is or was Doughty's holding company.

Before anyone starts making any sinister comments the following statement was issued...

CFFN LIMITED
(Company Number 04324501)
(formerly Tokenpower Limited and Ned Ventures Limited)


Notice is hereby given, as required by Section 85(1) of the Insolvency Act 1986, that resolutions have been passed by the Members on 26 May 2010 to wind up the Company and appoint Liquidators
Click to expand...
Basically there was no need for the company so he decided to close it. (Liquidators appointed just to make sure everything was done correctly)
 
CFFN Holdings was the Forest holding company - it was liquidated yesterday. Don't holding companies hold the shares for another company (NFFC in this case) or something.. I'm far from being an expert but the published accounts for the club were for this company, and the 'loans' from Doughty were to this company. I have no idea if this is a good thing, a bad thing or just a thing, but it's certainly news.
 
There are companies created to make profits.
There are companies created to hide profits.
There are companies that are dormant as shelf companies.
......and then of course there is Cardiff City FC.
 
Update from sportchippers

"In May this year Nigel Doughty took full 100% control of the shares of NFFC when he transferred the shares that he had previously held via a company called CFFN into his personal name. This move was prompted purely for reasons of administrative simplicity. This has had and will have no impact on the funding of the club."
 
The overall impact on this will be told when the next set of accounts comes out.

Interest is being paid on the loan from CFFN to Forest, at the rate of 2% above LIBOR. In the most recent accounts Forest paid £2.297m in interest on the loan from CFFN. The year before they paid £2.338m.

With CFFN liquidated, the next set will have to show this interest being paid directly to ND, unless another holdings company is set up.
 
No, they're not being paid back. Interest is being paid, but the principle increases.

ND loans money to CFFN, which in turn loans money to Forest.

CFFN, according to their most recent accounts before the liquidation, received £6.6m from ND in 2008. No dividend was paid in 2007, yet it looks like a dividend was being lined up for over £1m for FY08.
 
Paul, it's important to remember that Doughty, CFFN and NFFC are three different entities.
 
Ok, Forest have been paying interest on loans to CFFN. Can you then see from the accounts that CFFN have then paid out money to Doughty?

What i'm getting at is if Doughty set this company up to pump money into NFFC, has he also using it to call the debts in?
 
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