Search results

I do believe they embarked on a joint venture, but I won't get into how bad in percentages I think they all are. I can say however that their combined effort led to us playing in Northampton. The illegal state aid case is a whole different animal that the case over potential liability for a...

Is it? Then why didn't Higgs simply set up a meeting with sisu and PwC? Just saying 'it's nonsense' is not really an argument. There's a lot of 'he said, she said', but I read from court transcripts and all evidence - spoken and written - were given under oath.

Showing proof of funds require you to show a bank or an escrow balance with the money in it. That's not the way sisu operate - they have an agreement with investors and obtain their accept for the investment on given conditions. As long as the conditions wasn't met, sisu could not agree terms...

Hm - hard to answer. It's a case about illegal state aid. If anything I would say it doesn't look pretty that sisu were involved in a plan to distress the YB loan. But then again, when CCC negotiated with YB to buy the loan for themselves they tried the same tactic.

He used the word 'appetite' and I understand why he came to that conclusion. Remember that by 'either side' he meant for sisu and Higgs to reach the proposed deal within the ITS. Sisu were not allowed to speak to Higgs advisors - PwC - and so unable to directly address their concerns. They were...

I wonder if Simon are planning to do a piece about that in the CT?

Out of interest ... have you read the transcripts for the Higgs vs sisu case? I know it's extensive, but if you imagine you are reading the manuscript of an episode of Rumpole, then it's actually quite entertaining. And very enlightening. Even after reading the examinations of the witnesses you...

I was replying to a comment that sisu would take Higgs to court again. Higgs have taken sisu to court. ACL have taken the club to court. Sisu have never taken Higgs or ACL to court. They have taken CCC to court though.

As I said - without more written evidence we will have to wait for the JR.

She? Joy Seppala? No JS didn't say that. Her assistant said that. And it was based on the due diligence they were able to carry out. Mind you, they were not allowed to speak to PwC who had done their own due diligence (and told Higgs the offer were way above their valuation). Two reasons -...

I don't know. There are a few possibilities, but without more written evidence I think we will have to wait for the JR. If this had happened to Liverpool, Arsenal etc - then journalists would be asking a few people a lot of unpleasant questions. But we're a league one club, nobody but us seems...

JS and Higgs agreed a price of £5.5m. £1.5 up front. £4m against equity convertible within 10 years. Depending on sisu buying out and discharging the YB loan and CCC prolonging the long lease to 125yr and ccfc paying a peppercorn rent (the indicated term sheet) Higgs were advised by...

... and so you start off another tangent!

None of you have the facts straight!

And back in 2007? Did sisu save ACL?

Uhm - how long into sisu's reign was that?

And - while you say 'sudden' you forget the 6 month worth of Escrow.

Yes - but prior to that ACL would have lost out on something like £4m in total. Could they have survived that?

If this forum had a dis-like button, I am sure this post would set a new record. But as the Trust hold an open meeting tomorrow I thought I would give the meeting something different to talk about (or not). I am sure most of you who have trawled through the court transcript have already read...

Yes, but then they actually used the strategy themselves, didn't they? CCC should unilaterally buy out the loan and then refinance the YB loan to ACL, but with the support and agreement of Higgs as our partner ... in parallel I believe that we need to put together some thinking...