oldskyblue58
CCFC Finance Director
So the Charity issued legal proceedings to recover costs of legals etc when the talks were aborted, those costs having been agreed as payable before the talks started in May 2012 but not paid to date. £30k
January 2014 SISU issue a counter claim for their cost and botheration in talks that led to nothing. Clearly from the article the claim is a lot larger than the claim against them. They would have included all their legal and accountants fees but I would guess that they also included charges for the directors and staff that may have been involved, even costs of staff and directors at SISU Capital, not to mention travel costs and interest. That's not being biased btw that is how these claims are put together and SISU are entitled to do it if they see fit. The object is either to force the other side to back down, to panic, to ramp up the risk, even distress. So how much are we guessing £100k, 200K, 300k counter claim???
Can not help but think this is not the best move by SISU. In court the judge could throw both claims out and then its an argument on costs. How much has it cost already in legals? But the wider Coventry public is going to see a Coventry charity being sued by a football club hedge fund owners that resort to legal action repeatedly to get their way...... further alienating the club from Coventry
But it isn't the just the Alan Higgs Charity that will be affected. Each year the AEH Charity makes grants totalling in excess of £200k to 20 or 30 other Coventry organisations. That is now at risk.
only the lawyers win on this
January 2014 SISU issue a counter claim for their cost and botheration in talks that led to nothing. Clearly from the article the claim is a lot larger than the claim against them. They would have included all their legal and accountants fees but I would guess that they also included charges for the directors and staff that may have been involved, even costs of staff and directors at SISU Capital, not to mention travel costs and interest. That's not being biased btw that is how these claims are put together and SISU are entitled to do it if they see fit. The object is either to force the other side to back down, to panic, to ramp up the risk, even distress. So how much are we guessing £100k, 200K, 300k counter claim???
Can not help but think this is not the best move by SISU. In court the judge could throw both claims out and then its an argument on costs. How much has it cost already in legals? But the wider Coventry public is going to see a Coventry charity being sued by a football club hedge fund owners that resort to legal action repeatedly to get their way...... further alienating the club from Coventry
But it isn't the just the Alan Higgs Charity that will be affected. Each year the AEH Charity makes grants totalling in excess of £200k to 20 or 30 other Coventry organisations. That is now at risk.
only the lawyers win on this