Oh yeah totally, there’s questions about how exactly the trust soured between Sisu and CCC and how exactly deals broke down, but I suspect we’ll be hearing about them for the next twenty years or more. But from an immediate CCFC angle, all that matters really is the legalities
What’s next? I’m hoping that’s it, it’s always come across as a last throw of the dice.
Surely there comes a point where Sisu have to accept defeat and move on to whatever their plan for the club is? If nothing else they can’t seriously commit to a new ground while there’s a chance of developments at the Ricoh can they?
Depends what the developments would be, I guess.
And there'll always be an angle! We probably have the civil cases regardless of who finds what, I'd say. And there'll be an angle we haven't thought of, however clued up on financial law we are now(!)
So to come full circle- whats the "indemnity" for ? I'll get my coat
What you're saying is essentially what any EC investigation will deal with, if they decide to proceed. We all know it was one deal but the technicalities of the law in the UK mean it is treated as separate transactions. If the EC feel it should be treated as one then they will look at where UK law is incompatible with state aid law.
Still working on the assumption that Wasps want security at the Ricoh and to not have the threat of legal action hanging over it. Not seen anything to suggest that’s not the case.
It was what I was told by one of our clients lawyers who deals with the EC a lot. I assume he knows more about it than I do!Bet that was written by a tax lawyer!!
But the indemnity presumably was prepared at the time of purchase and before legal actions
Now, I've said all the way through this...But even then, there comes a point where the cost of being homeless exceeds the potential payoff. Assuming this is still about financial rewards for Sisu and Joy isn’t really on a moral crusade.
What do you think to over £5m being given to the Ricoh arena?Fuck off with your idiocy now.
Unlike moronic cocks like you, I'll look at things on the evidence.
Can't see how this one makes any sense.
Now stop being a vapid twat and get yourself some brain cleansing.
Snide wankerisms while thinking you're being too clever for yourself do nothing.
Asyouwere
I am not sure either, there are many questions to whole debacle. like others i raise questions. there is an answer but what answer or end ?I am not sure of what you are saying. In brief mortgaging a property with a short lease is very difficult and not a high LTV.
The applications will be public bodies applying for exemptions I think not application for reviewDo we think the COVID changes to state aid law are slowing this down? I saw somewhere that there’s been a record number of applications and they’re being assessed in record time. I wonder if stuff like our case is on the back burner until COVID is out of the way. I’d expect the serious economic interventions are still to come for a lot of countries.
Could be we hit Dec 31st before a judgement, and it’s all down to the Brexit deal we strike (or don’t).
What do you think to over £5m being given to the Ricoh arena?
Can't see how this one makes any sense.
Why do you say that?
The applications will be public bodies applying for exemptions I think not application for review
Its not a short lease its 250 years, effectively it gives ownership but not in entirety. its all legal and legal can be picked at. ?I am not sure either, there are many questions to whole debacle. like others i raise questions. there is an answer but what answer or end ?
Because you would assume all DD etc would be carried out pre exchange. It is most unusual for either party to go back and say " oh by the way we forgot to cover this can we change ..."
Do we know which Country and where is hosting the complaint? It could be in shutdown?The applications will be public bodies applying for exemptions I think not application for review
The indemnity between WASPs and CCCSorry I’m lost. How would Sisu be involved in the DD? Why would an agreement between Wasps and Sisu need agreeing for a deal between CCC and Wasps?
I think that’s fair!! So the question to wasps is why is Steven Vaughan so happy and what is the money being spent on and who is doing the spending? Sv is talking as it’s money that they will be managing and using to aid their business and regenerate that area of coventry. Well it says continue but I can’t work out what they may have done alreadyWell seems a lot of you have been triggered by this. I'm not against any funding for improvements to the Ricoh Arena to facilitate the games. What everyone is triggered about is whether it's a direct bung effectively to WASP.
I would suggest we need much more information before we can object.
As it stands WASP have a commecial lease, and presumably a full repairing and insuring lease as is normal. That would mean ongoing repairs, maintenance for the most part are WASP responsability. But if the Freeholder (Landlords) want to make improvements to the building then they can. So the question is whether this grant of 3.8m is given directly to WASP which I doubt. If your landlord came along and improved your house, you are not going to resist are you?
The next question is what is 3.8m being spent on? And the final question if this improves facilities at the Ricoh with publicly granted money, at what point does that benefit the public purse as opposed to benefitting WASP under their ownership? Will the lease rent be reviewed and raised? Will the council be refunded profits from the event after WASP running cost?
I think a lot more information is needed before a rush of heads. It's the figure of 3.8m that is troublesome for such a small event and some cosmetic improvements. It would be very wrong should any of these funds benefit WASP tenure in any way.
The indemnity between WASPs and CCC
Didn't take long did it
What indemnity between Wasps and CCC?
The one that broke down negotiations? That’s between Sisu and Wasps. CCC have explicitly said they didn’t ask for it. As I said, I’m assuming until proven otherwise that no one is outright lying here. Wasps could easily see that indemnity as required for whatever they think Sisu have planned. No reason to think CCC asked for it during the sale. I doubt they’d explicitly say something that could be proven false, it would open up a minefield for them.
A 250 year lease is a freehold for all intents and purposes. This was covered in the JR. That’s why Wasps paid £1m for it, that was what KPMG valued the freehold at after ACL had put £21m in already. Which is why the judges ruled it wasn’t State Aid ultimately.
You know full well that a 200 year extension improves the asset value of the property significantly more than the purchase price. Ask yourself why ACL never had it at inception but instead an absurdly low lease period
Oh just stop it
Now, I've said all the way through this...but Seppala's USP is being strong, and not backing down. It benefits her more in the long run for future negotiations with other businesses if they know it's often easier to cut a deal, even if not the best deal for them...
(It's a pretty standard hedge fund tactic btw, fight or flight, summed up by the likes of Peter Temple, if you want the references for the general trends)
Have to look at this in a wider context. SISU either win it (great) or it reaffirms she's a woman not to be messed with.
It's pretty obvious because you try it on every thread.
Freedom of information requests need to be made. If anyone has an hour spare speak to the Information commissioner (IC) about how you might best explore the topic within guidelines they would support. If the IC say we can have the info they will have to hand it over. As long as it's not 'commercially sensitive' of course.What I don't get is why the funding is going towards what they describe? £3.8m is a lot of money just for a few Judo matches.
It's very dodgy.
The council do need hammering asking how the indemnity links to this type of shit.
Northern have some class and try and respect that USAskybkue has a view about your posts on SISU/Ricoh and looking at the amount of likes it's received he is clearly not alone in his thinking. Resorting to insults of a vulgar nature does make you come off as somone with a significant superiority complex. Feel free to disregard this observation as you will no doubt know best.Fuck off with your idiocy now.
Unlike moronic cocks like you, I'll look at things on the evidence.
Can't see how this one makes any sense.
Now stop being a vapid twat and get yourself some brain cleansing.
Snide wankerisms while thinking you're being too clever for yourself do nothing.
Asyouwere
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