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I would think that part of the build costs will be paid for by various grants that will be available, particularly as it is a community site Also if the sale of part of the rugby premiership goes through that will probably give Wasps around £17m. Clubs are being encouraged to spend the windfall...

JR1 is concluded. CCC etc were awarded their costs to be paid by the applicants ARVO & SBS&L. Usually the court sets the date for costs to be paid. Full costs are "taxed" (assessed by the court as to whether chargeable on the loser it doesn't mean CCC etc will get all their costs back) and often...

The option for administration or worse is of course there. I second insolvency event would see the directors barred from running a football club. It is a risk to SISU but they take risks that is their business. The mechanics of it would be pretty much like last time. ARVO have a charge over all...

Yes around 18 mths before from memory. They filed a set of accounts for the year before acquiring ccfc. 2m loan in 2m loan out basic transactions that first year edit* 21st April 2011. I think it is safe to say it formed part of a plan

Well in the last accounts a third party acting for a director was paid 75k by otium. Of course otium only has one director...... Fisher

Understand that and for now it suits council and wasps to play hard ball. They have the right to do that if they choose. But at some point they may need a way out of their position. Excluding otium from any actions might provide a way to do that. To my mind what this does expose once again...

I know it's another thread on the legals but what follows needs to be kept seperate. So stick with it. I will keep it factual as much as I can The only caveat is that I am not a barrister specialising in company law. So the facts A limited company in law is a separate legal entity. That is...

Bugger !!!! We have to take the chances then see games out.

I am hopeful of a positive result today. Partly to take minds off other matters. A narrow 1 nil win

I know but just making things clear. Not taking it to heart :)

Ordinary resolution requires 51% special resolution 75% Special resolution: what is it, when's a special resolution needed

Listened to Boddy last night while driving home last night. I have supported what he has done operationally, he does a good job, but in this current dispute I think he is out of his depth and repeating what he is told to. What is the shareholder act ? The actions rights and duties of a...

All perfectly legal and is not fraud in any terms. Moving funds around group structures thereby creating losses is legal in company law, tax law, accounting regulation etc. The transactions are disclosed in the accounts and such tactics available in any group structure. Having a go at me or my...

I doubt the FA would have chosen the structuring that was done. Just because Fisher said doesnt make it correct. The FA had no need to order the transfer of loans from CCFC H to otium, to load a new company with massive debt. SISU on the other hand did because it made Otium unsaleable after...

OK as i do understand lets correct a few things. The Club has never been debt free. Yes SISU have used clever accounting to manufacture debt balances but some of the debt represents what people might call real debt. The FA did not restructure anything for the club. They might have approved the...

Eastwood is quoted as saying that CCFC doesnt add much to the Wasps finances. Now if that is not the case then this is the opportunity for the Club (those at Otium) to challenge that. It should carry more weight than relying on old quotes from a politician. Talk up the worth to Wasps but also...

But that move was done for a purpose that Sisu were in control of. It was always going to happen in an attempt to distress ACL This time Sisu are far from in control....

But there isn't such a clause. Probably would not have got past the lawyers and are uwe sure that Sisu would have wanted it ? I certainly wouldn't recommend any client to sign a forever more agreement whatever side they were on.... the potential financial risks could be huge "Blackmail" goes on...

Personally I think that is a good letter from the club. It clearly puts there case and illustrates how concerned the day to day operation is . One of the best statements I have seen from the club It won't fall on deaf ears but I doubt it will change things. Certainly the support seems as split...

There are two directors of SBS&L Fisher & Deering the 2017 accounts for SBS&L show the following for the Group (SBS&L + Otium) Although Venus was a director for 9 mths of that year There is one director of Otium - Fisher the 2017 accounts show the following Could be reasonable to...