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From the accounts of CCFC and Charity no it was £6.5m - £2m in cash for finances, £2m for the club to pay three directors and £2.5m forgiving a £2.5m loan that was due for payment The Charity via its ownership of Football Investors Ltd made the following loss on its disposal to Wasps. The...

This issue of did the shares cost anything. The ACL accounts for 31 May 2003 indicate that the Council subscribed 6 times between October 2002 and May 2003 for its 2,000,000 shares totalling £1,758,256 at nominal value . The cashflow shows this money was used to pay expenses for that year...

wouldn't surprise me either but if that were the result I wouldn't see them accepting it and we all know where that will lead ........... back to court Additionally I would think they would use the verdict on the JR as a basis of other separate claims ...... again back in court just an opinion...

The JR 1 is in the names of SBS&L and ARVO. Compensation will therefore be shared between them if to be granted on this case. That means that ARVO could get repaid its loans and interest and possibly get a distribution on shares. It means that Sconset could repaid its loans and interest and...

Certainly seems to point to other things going on But if they were then isn't there also a different side to the coin also If it all fits then it also gives CCC more confidence in the future of ACL without CCFC doesn't it? Means that the income projections are more solid than being portrayed...

In theory things should have become clearer....... bang goes that theory...... I think I feel more confused by that than anything the summaries provided pointed to so many contractions, and dare I say it inaccuracies. one minute things over valued the next under valued :thinking about: I...

because until there is an insolvency event title to the lease is ACL's and business is conducted on a going concern basis until events prove otherwise.

normally security is worth more than the loan. However some lenders in the past have taken less but usually for a higher interest rate. The security that CCC took wasn't just on the lease though....... it was a fixed and floating charge over all the assets of the ACL group, that's the other...

you might want to check the terms of the Partnership Act out. Even in the circumstances you outline that's what you have and for the sake of writing down a few agreed terms that a court would expect to see I would still get it done. Going to court doesn't guarantee the outcome you expect and...

no because the lease valuation is for security purposes. They took a charge over all the assets including the lease, as any bank would do. That's perfectly normal business practice. No bank would take security over liabilities would they ? that would weaken the lenders security wouldn't it...

ACL and ACL (2006) are both still there but of course both are now owned by one company. In any case the terms of the bond issue means the bondholders have a charge over all group assets including ACL & ACL (2006)

seriously no matter how good a mate he is get something in writing. It is in both your interests to do so. A simple letter written by you both and signed, witnessed, would do. I have a business partner, known him since I was 12, our two families are very close, would trust him with my life...

Wasps didn't purchase the existing lease though did they. They purchased the shares of ACL which had a net value including the existing lease all the other assets AND all the liabilities including the loan. It was never ever going to be a similar value to the value of the lease taken in...

not sure it is. As shareholders in ACL I think CCC were entitled to make their own decision on the loan or who they sell to etc even if SISU were suggesting something that may have been better on the face of it. Entitled to weigh everything up and decide on the best deal overall, and for...

Was there such an agreement......... SISU said they could do it ........... Yorkshire Bank told the CCC that because of the restructuring at ACL then the business was viable and they would not even discount to £12m

sorry but on any measurement Norwich could be rated as a bigger club than CCFC The 30 June 2015 Norwich accounts can be viewed here https://beta.companieshouse.gov.uk/company/00154044/filing-history One fact included average crowd 26k others are Turnover £52m Gate receipts £10m Wage bill...

Sorry fp had to rejig that..... no one has decided that CCC provided state aid as yet

I think what is being said is probably reasonable as far as it goes but - of course the money goes in to the club, its Otiums money for a player that company sold - In to the club is not the same as all of it going on the playing squad. - Our transfer fees are used to keep the club going...

The barrister isn't lying Nick, he is interpreting the facts he has at his disposal or wants to use, for the benefit of his client. Painting a picture to persuade the judges that's what they should accept. He is saying that's what his client understood or believed. But in any case it is still...

wouldn't it be more likely that they would say pay us a small rent just to keep our cashflow within bounds and get this done quickly. Perhaps, perhaps not. Certainly things dragged on for a long long time (8mths) with no prospect of resolution on this...... was there ever any deal between the...