Court Match Thread (1 Viewer)

Colin Steins Smile

Well-Known Member
The reading of proceedings this morning looks like SISU clutching at straws. The judge seeking clarification on what they are challenging.....and the QC referring to something buried on page 412 of their submission.
 

Nick

Administrator
Sisu QC outlines chronology
Sisu QC is now presenting “a chronology of the club’s attempts to get a share in the ground”.

“The first major topic it addresses is the value of a 100 per cent interest in the venue for an organisation like CCFC or Wasps.”

He says that’s important for the valuation of the Ricoh Arena.

Sisu QC referring to failed talks between the council and CCFC over the club securing a share in the Ricoh Arena during 2012.

He says they have issues with the fact they were only ever able to discuss a 50 per cent share and a much shorter lease.

He says the terms given to Wasps were never offered to Sisu or any other potential bidders.

He argues that this shows the council did not do everything it could to secure the best possible price for the asset by attracting rival bidders to drive up the purchase price.
 

Captain Dart

Well-Known Member

tisza

Well-Known Member
Does that break rules?
possibly.
if it's ruled that a 200yr lease is basically ownership of a state-financed asset then can be argued an open bidding process should have been carried out to realize maximum value.
can be argued that any process (whether sale of assets or service contracts e.g. school meals, rubbish collection) financed by public funds should be subject to open bidding.
if ACL originally paid 20 odd million for a 50 year lease why is the current 200yr lease valued at less than that by the Council yet valued at 40 million plus by Strutt & Parker etc.? (SISU's argument)
 

Nick

Administrator
Should expert evidence be allowed?
Sisu’s QC has asked that we look at a legal precedent set by the sale of a luxury Swiss hotel.

Why is this relevant? He says the case centred on the value of the hotel and how that value was reached.

The case contains a summary of valuation law. He refers to an example of how a valuation should be made.

In that example he says evidence from expert witnesses was allowed, and so, he argues, that should be allowed here.

He says if their expert evidence is not allowed, the court would essentially be “taking the council’s word for it” because the existing valuations of the Ricoh Arena were prepared at the instruction of the council and are not as independent as evidence prepared directly for the court.

Sisu’s QC wants evidence included from a Mr Pilgrim (valuation expert) and a Mr Rathbone (marketing expert).
 

Specs WT-R75

Well-Known Member
"
He says the terms given to Wasps were never offered to Sisu or any other potential bidders.

He argues that this shows the council did not do everything it could to secure the best possible price for the asset by attracting rival bidders to drive up the purchase price.
"

To be fair, that is the council bang to rights as far as I am concerned...
 

Brylowes

Well-Known Member
"
He says the terms given to Wasps were never offered to Sisu or any other potential bidders.

He argues that this shows the council did not do everything it could to secure the best possible price for the asset by attracting rival bidders to drive up the purchase price.
"

To be fair, that is the council bang to rights as far as I am concerned...
But didn't Tim say that SISU would never have taken on the lease on the
Terms that wasps agreed.
 

Nick

Administrator
That's why I look so good
giphy.gif
 

Nick

Administrator
“How can you sell something for £20 million that was worth £50 million?”
Sisu QC describes a Strutt and Parker valuation, which he says was taken before the Wasps deal was completed, as a “knockout blow”.

He adds: “How can you sell something for £20 million that was worth £50 million?”

We haven’t seen the finer details of that valuation in court, it’s in the bundles only the lawyers and the judge have access to.

Sisu’s QC made the statement as he aimed to underline the strength of his case whether or not additional evidence from expert witnesses was allowed.
 

Chipfat

Well-Known Member
From the pictures we have seen in the past, looking great has never shown itself before so today's snap shot is just a continuation of the old bag turning up again.
 

Nick

Administrator
Sisu QC finishes submissions
Sisu QC says his client has suffered “significant detriment” as a result of the sale of the Ricoh Arena tro Wasps and would likely be looking for damages.

He says the issue is the “loss of a chance” although he accepts Sisu would not necessarily have been successful in any bid over Wasps.

That’s Sisu’s QC done. He’s made way for council QC James Goudie.

Council up for their pens.
 

Nick

Administrator
Council QC says it has taken too long for this to come to court
Council QC says the fact almost three years have passed since the Wasps sale is largely down to the claimants.

He’s trying to get it thrown out on the basis it took too long to reach court.

Mr Goudie says the claimant acted “belatedly” to start this judicial review.

He argues they should have acted more quickly because of the coverage in the Coventry Telegraph which reported the sale of the Ricoh to Wasps in great detail on the day of the sale and even included details of the lease extension.

He’s showing clippings of the Telegraph’s stories to the judge.

Mr Goudie says the delay in this case is “lengthy”.

He says the delay, minus the time the case was paused, was seven months.

He argues “the fact they were in time doesn’t mean they were prompt”.

He says it was two months after the sale of the Ricoh Arena to Wasps that proceedings were first activated.

Bit of a random defence that it wasn't done soon enough.
 

Terry Gibson's perm

Well-Known Member
Looking at that picture she looks terrible but the cynic in me thinks she has done it deliberately to look worse for court hope not though
 

jimmyhillsfanclub

Well-Known Member
looks like shes a wolves fan.......what a c**t.

.....no, my mistake, must be wycombe wanderers......theres no fucking way a wolves fan could write that neatly.....
 

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