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Which is why they have chosen national court as venue. Unlike the EU court of Justice the national court can rule on damages and compensations.

The formula price was in the region of £8m.

Maybe, but potentially (if the bail out is found illegal state aid) ACL could be forced to repay the money and look for a new (private sector) lender. That may be very difficult without the main tenant - ACL could potentially go bust.

I don't think there will be any bomb shell tomorrow. It seems that the most important information sisu QC has presented today (without having read court transcripts!) is the fact the YB was willing to keep loaning ACL (providing they restructured the long lease). This means there was at least...

Hmm ... as they would only own 50% of the shares, the 'profit' would be £6.5m - the council would have the other half. In addition sisu would have to buy Higgs shares to get access to that 'profit' - was it £5m or something like that? The council would not have to pay anything for that 'profit'...

I guess Mr Appelton would have found the same as would be shown in the accounts?

Yes, and for once it would be nice if he had a power point presentation (I usually hate those). That would at least force a structured presentation and help understanding how it all links.

I fully agree with this. It would be very interesting if a small group of persons with each their expertize could have a meeting with TF and JS. Finances, legal stuff, strategy and PR. Maybe a single meeting would not be enough though.

The financial questions shouldn't be answered by ML, he is definitely no financial genius. Hope they bring Steve Brookfield and equip him with a license to answer any questions truthfully. But even more important - I really hope the audience will let the directors speak without interruption. If...

Sensible questions.

Aye, but do you really think it's so simple? Then why go to court in the first place? How many days is the proceeding scheduled for? When the judge makes his ruling he will also tell us what he base that ruling on. This is where the losing part may object and feel the judge get it wrong.

I would think that any ruling can be appealed if one of the parties feel the ruling is unjust. I don't think there is need for new evidence etc unless the ruling is from the supreme - or highest court there is. If either party want to appeal the JR decision I think the next step up the...

Did Baker explicitly say that 'the club will get rid of anyone if they could'?

I think that the deal with Higgs was agreed, so why continue negotiations? The only thing left was signing and delivering, but according to the road plan and everyone accept this - the deal with Higgs depended upon the deal with CCC. In the court documents, The mail from Mr. West of Aug 15th...

I never said it was 'all the councils fault' (why suggest I did?), but that particular move was definitely CCC's doing. In a previous post you were puzzled why an agreement was signed when the deal was already dead ... well, maybe the deal was not dead? In my old and hazy eyes it looks like the...

There were two agreements - one with Higgs (ref 'ITS' or 'Term Sheet') and another with CCC (ref 'Heads of Terms'). The latter was agreed Aug. 2nd. These agreements were in combination the 'Road Map' if you exclude the 'rent holiday'. The ITS was about Sisu buying the Higgs shares and the HOT...

Leaving the 'creative accounting stuff' aside I agree with your last sentence. We need the club back asap and start to rebuild both financially and in the leagues. But I am quite sure there will be no easy compromise. To me it seems unlikely sisu will do anything to open negotiations. Only if...

Read their arguments for voting against the CVA: If they wanted to achieve those two goals: Keep the club at the Ricoh and make sure the club is financial viable for the future, then they failed. Didn't they? They may get the same money from the administration, but the club is gone and so the...

One thing we may not fully grasp is the difference between loans and share capital (equity). Had the investors money been placed as equity they would need to write down the value each year, but as loans as the loans are defaulted (easy when no interests or instalments are due) then maybe they...

Well, they counted on it. And when it happened, they were left without their anchor tenant, a broken lease and a big empty hole in their coffers. Voting against the CVA hoping sisu would leave was a mistake that would mean sacking the entire board and strategic management in any normal private...