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The documents make clear that, by the relevant time, all of the investment made in the Football Club had been written off by SISU and the investors who invested through them.

In April 2012, the crisis in ACL was triggered by CCFC/SISU refusing to pay rent which CCFC was legally obliged to pay, in pursuit of the SISU strategy to obtain a return on their investment by buying into ACL cheaply. SISU took that action quite deliberately to distress ACL’s financial...

At first blush, the Claimants’ submissions appear inherently unattractive. SISU are a commercial organisation, committed (and entitled) to pursue their own commercial interests. Until April 2012, ACL had been profitable: its balance sheet showed a profit every year (see paragraph 13 above). On...

Section 78 is a good read !

After the Council had purchased the Bank debt, thereby resolving that immediate sticking point, negotiations over rent continued between CCFC and ACL. On 29 January 2013, Heads of Terms were agreed, involving rent at £400,000 from 1 January 2013 with an agreement on arrears taking into account a...

CCFC was contractually obliged to pay ACL about £1.3m rent for its use of the Arena. However, all parties appreciated that that level of rent was not commercially sustainable, especially with the Football Club’s relegation to Division One, unless SISU continued to subsidise the Club which it was...

Although SISU were in discussions with the Bank, and the Council feared that they had made their own offer to purchase the debt and they were effectively in competition, there is little available evidence as to SISU’s negotiations with the Bank. However, what is now clear is that SISU considered...

Nothing in the evidence before me causes me to doubt any of the findings of fact made by Leggatt J on the evidence before him. Indeed, the evidence I have seen merely confirms them. Indeed, the evidence I have seen merely confirms them. By the end of August 2012, SISU buying into ACL by...

The rent strike by CCFC (and SISU’s refusal to assist in payment of that rent, or any of it) made ACL (and thus the Council’s share in ACL) weak and commercially vulnerable. There can be no real doubt but that it was SISU’s intention that the non-payment of rent should have that consequence...

That ACL were able to draw – and did draw – upon the escrow account is not to the point: although it assisted ACL’s cash flow for a few months, CCFC was still legally obliged to pay the rent and to make good that draw down (both of which it refused to do); and, in any event, all parties were...

The background to the negotiations between (amongst others) SISU, ACL and the Council was that CCFC, which had fallen into a parlous state as a result of mismanagement, had unilaterally refused to pay the contractual rent it was legally obliged to pay to ACL; and SISU had made it clear that no...

20. CCFC’s rent strike thus provoked a financial crisis within ACL which, as 2012 progressed, increased in intensity.

The judge dismissed Sisu's claims on ground one and three of his judgment, and prevented them from taking further action to recover damages in ground two. Looking at the issue of 'state aid' in ground one, Justice Hickinbottom concluded: “I do not consider that the council's loan to ACL was...

Firstly somebody in the FL will have to grow a spine and get us back home either for good or while they build their magical stadium it is what is best for the fans and that should be the main concern of the FL

Wouldnt hold your breath on the FL doing anything to help CCFC or its fans

We will apply for leave to appeal this decision. Now, more than ever, the new stadium is the only viable commercial option. The owner's primary objective remains building a long term sound financial platform for the future growth of the Club. " Why will they appeal if building a new stadium is...

Simon Gilbert@TheSimonGilbert · 30s I have a full copy of the judgment and am writing up the findings to appear online@covtelegraph ASAP. In a nutshell, council win.

Can and will the council claim cost against SISU now ?

SISU lost ......