court papers explained (3 Viewers)

[NorthernWisdom]

You sure can deduce a lot and make numerous sweeping statements after only being here for less than one month

Amazingly they taught me to read from an early age.

 

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[Nonleagueherewecome]

But no one knows and we will never know. The hysterical have always suggested that if the Club - and I'm talking about SISU - got half the stadium then they would close down Coventry City, etc etc. That scenario only existed in the feverish imaginations of posters on here. Some even wrote to the Council saying "don't let SISU get hold of the one thing that will guarantee it's future", all because of their hate of the owners.

We are in the worst position because many people and organisations including Richardson, McGinnity, SISU and ACL have let the club down and only thought about themselves. And they've been given a helping hand by quite a few City fans along the way.

Corrected for you. Although I think you did that on purpose to wind me up

 

[RPHunt]

I can't read anywhere that the documents suggest that the plan was to put ACL out of business. I understand the plan was to distress the mortgage so Yorkshire Bank would sell the mortgage to sisu for £2m-£5m. I think the mortgage was around £16m-£18m so if the plan had gone through ACL would be cutting their debt by a factor of 4 ... or down by 75%.
That would give ACL room to lower the rent to what ccfc want.

But as we know Yorkshire Bank wouldn't play ball and CCC stepped in and bought the mortgage for £14m.

Again - the documents handed to the court is sisu's version. But I would think they know a judge would ask for some kind of evidence, so I expect they have more than just 'he said, they said ...'.

Edit: Had ACL been able to cut the mortgage to £5m it would also justify Higgs valuation on their shares and it would be a sound (value for money) investment for the club.

If this is the best reason for a judicial review that SISU can come up with, then I doubt if the judge will ask for evidence. It will just be tossed, as are the vast majority of requests for judicial review.

 

[NorthernWisdom]

If this is the best reason for a judicial review that SISU can come up with, then I doubt if the judge will ask for evidence. It will just be tossed, as are the vast majority of requests for judicial review.

We'll find out soon enough.

Hopefully it will be else it'll be long and tedious!

 

[Sky Blue Kid]

@ Torchy.....

When you said about "Your father paying for parking"..........It was during a debate on who gets the revenue from "Parking at the Stadium"
Selective memory kicking in yet Torchy?

 

[Nonleagueherewecome]

Tossed. Hehehehe.

 

[James Smith]

I can't read anywhere that the documents suggest that the plan was to put ACL out of business. I understand the plan was to distress the mortgage so Yorkshire Bank would sell the mortgage to sisu for £2m-£5m. I think the mortgage was around £16m-£18m so if the plan had gone through ACL would be cutting their debt by a factor of 4 ... or down by 75%.
That would give ACL room to lower the rent to what ccfc want.

But as we know Yorkshire Bank wouldn't play ball and CCC stepped in and bought the mortgage for £14m.

Again - the documents handed to the court is sisu's version. But I would think they know a judge would ask for some kind of evidence, so I expect they have more than just 'he said, they said ...'.

Edit: Had ACL been able to cut the mortgage to £5m it would also justify Higgs valuation on their shares and it would be a sound (value for money) investment for the club.

As I alluded to earlier maybe this is the meeting where SISU believed that a deal had been done only to discover that ACL were only shaking hands to say goodbye. It'll be interesting to see if they have any evidence to back up their submission to the court or not.

 

[torchomatic]

Shouldn't be too difficult if what you say is true. So post the quote. Verbatim, if you please.

@ Torchy.....

When you said about "Your father paying for parking"..........It was during a debate on who gets the revenue from "Parking at the Stadium"
Selective memory kicking in yet Torchy?

 

[torchomatic]

Corrected for you.

He he he he is a tosser.

 

[torchomatic]

[video=youtube;PcsboqE3AZg]http://www.youtube.com/watch?v=PcsboqE3AZg[/video]

 

[Jack Griffin]

Am I wrong in thinking this court case rest on supposed meeting(s) with no joint paperwork.

Does it really say SISU's plan was to screw the Yorkshire Bank with ACL in collaboration?

SISU = morally & ethically bankrupt.

 

[NorthernWisdom]

Am I wrong in thinking this court case rest on supposed meeting(s) with no joint paperwork.

The report does seem to read that way.

Does it really say SISU's plan was to screw the Yorkshire Bank with ACL in collaboration?

The report does seem to read that way!

Can you sue for false claims/libel if something's in a court submission? If it's not true then that might be the next day in court?

 

[Grendel]

You were talking to I think Grenduffy and another poster at the time last year cba looking back over the last 12 months..but you definately said it mate, and No I won't feck off!!!:slap:

He never said that once again made up rubbish.

Still waiting for when you saw Malaga play.

 

[torchomatic]

And I'm still waiting for the quote.

He never said that once again made up rubbish.

Still waiting for when you saw Malaga play.

 

[Jack Griffin]

The report does seem to read that way.



The report does seem to read that way!

Can you sue for false claims/libel if something's in a court submission? If it's not true then that might be the next day in court?

Papers served by Coventry City Football Club (Holdings) Ltd – signed by its hedge fund owner and Sisu boss Joy Seppala – also allege council executives were last year involved in talks over a joint plan to buy out the Ricoh company’s Yorkshire Bank mortgage for less than the £14million the council eventually paid for it.

Read more: http://www.coventrytelegraph.net/co...oventry-city-fc-92746-33265837/#ixzz2S3XL0pMJ

This is the joint meeting, there is no mention of meeting minutes in the papers.. which would be an extremly important point.

The High Court “statement of facts” contains lengthy claims about last year’s talks over rent; plans for Sisu to acquire Higgs’ half-share in ACL; and an alleged joint plan for Sisu to buy out the Yorkshire Bank mortgage as distressed debt.

Read more: http://www.coventrytelegraph.net/co...oventry-city-fc-92746-33265837/#ixzz2S3Y2V0Za

This is the collaboration to pay back Yorkshire bank less than owed, that only arises if ACL is under stress & can't make the payments.

 

[Waldorf]

What I find interesting in all this is that the club is going for a judicial review for the judge to rule unlawful an action by the council that enabled ACL to offer a reduced rent to ... errr ... the club.

All very logical ain't it?

 

[James Smith]

What I find interesting in all this is that the club is going for a judicial review for the judge to rule unlawful an action by the council that enabled ACL to offer a reduced rent to ... errr ... the club.

All very logical ain't it?

Not sure much is logical in the world of SISU.

 

[lordsummerisle]

This is the collaboration to pay back Yorkshire bank less than owed, that only arises if ACL is under stress & can't make the payments.

I'd have thought that it would place both Sisu and ACL/CCC in trouble with the Yorkshire Bank as well really.

Deliberately colluding to distress ACL in order to artificially reduce the amount that Yorkshire Bank would take to get a bad debt off their hands wouldn't go down too well with them I expect.

 

[James Smith]

I'd have thought that it would place both Sisu and ACL/CCC in trouble with the Yorkshire Bank as well really.

Deliberately colluding to distress ACL in order to artificially reduce the amount that Yorkshire Bank would take to get a bad debt off their hands wouldn't go down too well with them I expect.

And we only have the SISU side of things reported to make our minds up about what actually happened in these meetings. On a serious note given the YB sponsor a lounge, are a tenant etc at the Ricoh would ACL really risk annoying them?

 

[oldskyblue58]

just out of interest when did the chairman of ACL leave ?................. Allvey left end of May 2012 wasnt it? ..... after CCFC stopped paying rent and an apparent meeting about working together to distress ACL in the eyes of Yorkshire Bank

I only ask because the job he went to was as non executive director of ................................Yorkshire Bank................ from August 2012

 

[blueflint]

seems to get more complicated every minute

 

[lordsummerisle]

And we only have the SISU side of things reported to make our minds up about what actually happened in these meetings. On a serious note given the YB sponsor a lounge, are a tenant etc at the Ricoh would ACL really risk annoying them?

It happened exactly as they said it did in the meeting.

I saw it on a live stream from firstrow sports.

 

[Sky Blue Dal]

I'd have thought that it would place both Sisu and ACL/CCC in trouble with the Yorkshire Bank as well really.

Deliberately colluding to distress ACL in order to artificially reduce the amount that Yorkshire Bank would take to get a bad debt off their hands wouldn't go down too well with them I expect.

This is one of many reasons during the banking crisis in 2008 that hedge fund companies were heavily criticises for playing a part in the crisis. I'm sure Yorkshire bank and many other banking organisations will be critical of SISU if this does go to court as this is the type of underhanded approach they solicit.

 

[Nonleagueherewecome]

Corrected for you.

Who is a tosser?

Btw if you want to really get depressed, log-in to your work email account and see what bombshell has been dropped on us....I hope you're bringing your crucifix for Ey-up tomorrow!

 

[lordsummerisle]

This is one of many reasons during the banking crisis in 2008 that hedge fund companies were heavily criticises for playing a part in the crisis. I'm sure Yorkshire bank and many other banking organisations will be critical of SISU if this does go to court.

Don't forget the "whiter than white" ACL.

 

[Nonleagueherewecome]

Don't forget the "whiter than white" ACL.

Don't be so racist.

 

[Sky Blue Dal]

Don't think there type of organisations played a part in the crisis, in fact many lost a lot of money... But I get your point.

 

[lordsummerisle]

Don't be so racist.

With some people on here DAZ would be a better three letter description of ACL.

 

[Nonleagueherewecome]

just out of interest when did the chairman of ACL leave ?................. Allvey left end of May 2012 wasnt it? ..... after CCFC stopped paying rent and an apparent meeting about working together to distress ACL in the eyes of Yorkshire Bank

I only ask because the job he went to was as non executive director of ................................Yorkshire Bank................ from August 2012

Pfft, you see sinister manoeuvres everywhere...it's just an innocent coincidence, OK? Far less cloak and dagger than the secret plan by ACL and SISU to..sorry, I'm going to have to stop there, I can't quite bring myself to type what SISU claim they were doing hand with with ACL, it's just too...bullshitty! There's 4 year old kids out there who come up with more believable excuses for not doing their homework!

 

[Nonleagueherewecome]

He never said that once again made up rubbish.

Still waiting for when you saw Malaga play.

You're the elder brother we all wish we had when growing up, Grendel. Nice to see you standing up to the bullies for once. Instead of, y'know, being one. Hypocritical wanker.

 

[Nonleagueherewecome]

With some people on here DAZ would be a better three letter description of ACL.

"New from SISU, the revolutionary new washing powder, SHITE: it'll leave your clothes browner than they've ever been!"

 

[torchomatic]

Sorry, I was talking about SBK, not you! Honest!

I know I've already seen it. Bastards. The only crumb of comfort is that management have been slotted into their roles. I was worried about them.

Who is a tosser?

Btw if you want to really get depressed, log-in to your work email account and see what bombshell has been dropped on us....I hope you're bringing your crucifix for Ey-up tomorrow!

 

[Nonleagueherewecome]

Sorry, I was talking about SBK, not you! Honest!

I know I've already seen it. Bastards. The only crumb of comfort is that management have been slotted into their roles. I was worried about them.

I fear a KEN situation at LEA. And short-term, selfishly, I worry about the person whose job I am doing on a temporary basis until 1st July...I fear that may be it for me then!

 

[WillieStanley]

I fear a KEN situation at LEA. And short-term, selfishly, I worry about the person whose job I am doing on a temporary basis until 1st July...I fear that may be it for me then!

Whilst I sympathise... I cant help but notice this thread has gone slightly off topic!!

 

[Nonleagueherewecome]

Whilst I sympathise... I cant help but notice this thread has gone slightly off topic!!

The actual topic was such a pile of crap that I consider it an improvement