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CCC were talking with Wasps in March 2012 (or earlier but that is a documented date). Richardson met with Rossborough in late 2012, that was confirmed by Rossborough when interviewed by CWR. Richardson took over Wasps March 2013 from his business associate David Thorne (having previously been...

The Rossborough Richardson meeting was confirmed by Rossborough when he was interview on CWR so that definitely happened and happened before Richardson purchased Wasps. You have to admit it all seems to indicate that before there were rent holidays, rent strikes and moves to Northampton CCC...

One very interesting thing was that it appears CCC were talking to Wasps, or about Wasps, before they were taken over. This ties in with CRFC saying they were approached about working with Wasps by Richardson before he took them over. Kind of blows the notion that they were planning to move...

That might be a good result for SISU. If it moves out of the hands of CCC there could be an increased chance of an offer to make it all go away.

Is he saying the bonds are effectively a loan that has been used to pay the council loan and they should therefore order the bonds to be repaid? Can't imagine thats likley.

Wonder if the SISU lawyer has drawn a picture of Ann and hung it up in his office?

And then we can move on to JR2: The Sequel :D

It was £5.6m for ACL (50% from Higgs, 50% from CCC) and then another million to CCC for the lease.

He also was quoted about it causing problems with having to leave players out as we are at the limit which would indicate he was talking about loans. Realistically we're looking for a goalscorer. I can't imagine there's many good strikers sat around unable to find a club.

Could be I guess. Wasps wouldn't have had total control of ACL without Higgs share so may not have been able to have control over an extended lease negociation.

ransom strip is when you own a piece of land that prevents access to another piece of land. So for example I owned the piece of land you needed to cross to get to your house but put up a massive fence and didn't allow you access. Not sure how that relates to Higgs or ACL.

Thing that frustrates me is that there are rules and guidelines for many types of state aid that all follow the same basic process. Its a process you should go though to ensure you can't be accused of incorrectly providing state aid. There's a lot in there that the council haven't done but...

They seem to have not wanted CCFC to have it since day one. No idea why. There was the grab of the freehold when CCFC were supposed to own 50%, the attitude to other bidders at the time SISU took over who wanted a stake in stadium ownership, and then everything that has happened since SISU took...

I suspect you are correct. The council must have known how close to the line they were so would almost certainly have had every little thing checked out and checked again to be safe. The thing you take from this is the narrative the council is giving in court is very very different from the...

So we're back to square one. CCC saying ACL would be fine without the football club which means there was no need to sell to Wasps. And it seems Wasps didn't just pitch up shortly before the purchase as some on here have suggested.

CCC say ACL doing well but they seem to base that on the cost of borrowing going down which wouldn't have happened without the bailout! Judge asks for clarification of the financial picture and is told there was negative cash flow.

IMO having Mowbray and Venus in control of all things football related has been a big plus this year and has let to success. It seems odd, hopefully just coincidental, that within a few days of Anderson turning up things started going downhill and now he seems to be getting involved in the...

I think I'm missing something here. Group A owns Company A who own Asset A worth £1m. Company A owes Bank A £2m. Bank A are getting a bit nervous about getting their money back. Bank B loans Company A the money to pay off Bank A, Without this Company A is in danger of going out of business...

Doesn't that bring us back to the initial point. How can the lease act as security if it doesn't revert to CCC in the event of ACL going under?

So how can CCC use the lease valuation as justification for making the loan? Shouldn't they be using the valuation of ACL? They've already said today that the lease wouldn't revert to CCC if ACL went bust so its value doesn't really come into it as far as I can see. So you have ACL valued at...