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Higgs vs CCFC Court Row (1 Viewer)

  • Thread starter Nick
  • Start date Mar 26, 2014
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M

martcov

Well-Known Member
  • Apr 3, 2014
  • #1,506
Strange that ML says that ACL are ravacious landlords, but half of their ravacious business is worth sweet F.A.
 

Sub

Well-Known Member
  • Apr 3, 2014
  • #1,507
James Smith said:
Is this for real!?! Hedge fund offers £5.5m for something they said was worth nothing? We've got a few days worth of rubbish out the back here that they can make us an offer for in that case.
Click to expand...

yup im just pasting direct from his twitter so people can see
 

duffer

Well-Known Member
  • Apr 3, 2014
  • #1,508
ccfcway said:
We will give them £5.5 million as they a charity, but wont pay them £29k ?

:thinking about:
Click to expand...

Absolutely. What an utter load of rubbish.
 
D

dongonzalos

Well-Known Member
  • Apr 3, 2014
  • #1,509
Sub said:
Simon Gilbert‏@TheSimonGilbert53 secsJustice Leggatt intervenes 'but you're not a charity are you'. Deering says she doesn't know details of discussion between Harris & Seppala
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Thank god he did he was probably wondering why Higgs' QC didn't. Shows he does not believe that
 

ccfcway

Well-Known Member
  • Apr 3, 2014
  • #1,510
Sub said:
Simon Gilbert‏@TheSimonGilbert18sDeering believes the original transaction fell apart after the exclusivity period. Could be a key point.
Click to expand...

any chance the Higgs QC could quickly slip in "is there any plans at all to build a new stadium ?"

 
K

kmj5000

Member
  • Apr 3, 2014
  • #1,511
Sub said:
Simon Gilbert‏@TheSimonGilbert44 secsMs Deering confirms Sisu thought charity's share was worth nothing.
Click to expand...
How did they conclude that if they hadn't completed their due dilligence?
 

Grendel

Well-Known Member
  • Apr 3, 2014
  • #1,512
James Smith said:
Is this for real!?! Hedge fund offers £5.5m for something they said was worth nothing? We've got a few days worth of rubbish out the back here that they can make us an offer for in that case.
Click to expand...

Perfectly believable - they could hold up a picture of Freddie Eastwood as exhibit A regarding spending millions on rubbish.
 
A

AJB1983

Well-Known Member
  • Apr 3, 2014
  • #1,513
duffer said:
Absolutely. What an utter load of rubbish.
Click to expand...

Or pay 100k a month rent....
 

lordsummerisle

Well-Known Member
  • Apr 3, 2014
  • #1,514
martcov said:
Strange that ML says that ACL are ravacious landlords, but half of their ravacious business is worth sweet F.A.
Click to expand...

Ravacious? Surely would be better if they were curvaceous?

Would help negotiations along no end if done in bikinis.
 

ccfcway

Well-Known Member
  • Apr 3, 2014
  • #1,515
martcov said:
Strange that ML says that ACL are ravacious landlords, but half of their ravacious business is worth sweet F.A.
Click to expand...

landlords that they recognise as a charity and are happy to give £5.5 million to, but not £1.2 million rent or £29k of agreed funds if negotiations collapse
 
D

dongonzalos

Well-Known Member
  • Apr 3, 2014
  • #1,516
chiefdave said:
Better get Joy up on the stand then so she can be questioned.
Click to expand...

She has been brought into this and is not here
 
J

Jack Griffin

Guest
  • Apr 3, 2014
  • #1,517
Kingokings204 said:
Finally the truth people..... Sisu backed down from the agree 5.5m which is a steal anyway and offered 2m hence it fell apart.

Case solved. They are wankers. Deserve everything they get now.
Click to expand...

(Yesterday in court) PWKH is now taking the line that AEHC values the shares at £7.5M.
 

Nick

Administrator
  • Apr 3, 2014
  • #1,518
Didn't Higgs say they valued ACL at £6m so 50% is £3m? Or is that wrong?
 

Hobo

Well-Known Member
  • Apr 3, 2014
  • #1,519
chiefdave said:
Who decides who is and isn't in court? Does the judge or Higgs have any power to get Sepalla to turn up?
Click to expand...

Could do, but why? It's SISU who suggest she might have the answer to that one, if they haven't called their star witness they will have to do without her answer then.
 

fernandopartridge

Well-Known Member
  • Apr 3, 2014
  • #1,520
Somebody mentioned registering the Ricoh Arena as a charity, I believe that ACL should have been registered as such from the beginning, as something with charitable aims rather than just a way for the council to try and swell their own coffers.
 

oldskyblue58

CCFC Finance Director
  • Apr 3, 2014
  • #1,521
if they have valued it at nil then surely due diligence (a process to define worth amongst other things) was complete because they must know that the Charity would not let them have it for nothing. Their offer was therefore an arbitrary figure based on nothing at all ....... to use their implication a donation to a charity
 

covcity4life

Well-Known Member
  • Apr 3, 2014
  • #1,522
willing to pay over the odds to a chairty is great to see

can only say well done sisu, a sentiment eschoed by all no doubt.
 

Sub

Well-Known Member
  • Apr 3, 2014
  • #1,523
Simon Gilbert‏@TheSimonGilbert28sDeering says Sisu never authorised the non-payment of rent. That was football club decision. Club paid ACL £10k per match after rent ceased
 

lordsummerisle

Well-Known Member
  • Apr 3, 2014
  • #1,524
Nick said:
Didn't Higgs say they valued ACL at £6m so 50% is £3m? Or is that wrong?
Click to expand...

I think that's their 50% share, always been valued at £6million or thereabouts since they bought it for £6.5million off the club as far as I'm aware.
 

Sub

Well-Known Member
  • Apr 3, 2014
  • #1,525
Sub said:
Simon Gilbert‏@TheSimonGilbert28sDeering says Sisu never authorised the non-payment of rent. That was football club decision. Club paid ACL £10k per match after rent ceased
Click to expand...


???? WTF they own the club !:thinking about:
 

fernandopartridge

Well-Known Member
  • Apr 3, 2014
  • #1,526
Does it not point to the fact that ACL has never been properly valued?
 

James Smith

Well-Known Member
  • Apr 3, 2014
  • #1,527
fernandopartridge said:
Somebody mentioned registering the Ricoh Arena as a charity, I believe that ACL should have been registered as such from the beginning, as something with charitable aims rather than just a way for the council to try and swell their own coffers.
Click to expand...

Other than the loan have the council actually made any money though?
 

covcity4life

Well-Known Member
  • Apr 3, 2014
  • #1,528
Sub said:
???? WTF they own the club !:thinking about:
Click to expand...

even i cant help them with this one haha
 
M

martcov

Well-Known Member
  • Apr 3, 2014
  • #1,529
fernandopartridge said:
Somebody mentioned registering the Ricoh Arena as a charity, I believe that ACL should have been registered as such from the beginning, as something with charitable aims rather than just a way for the council to try and swell their own coffers.
Click to expand...

How much have the council taken out so far to swell their coffers?
 

skybluebeduff

Well-Known Member
  • Apr 3, 2014
  • #1,530
* Ms Deering confirms Sisu only continued to fund club in 2012 because they thought they could secure charity's stake in the Ricoh.

So there you have it, they are only here still because they still think they'll get the Higg's share, they are fucking staking everything on it, hence for now the continued funding. It's gonna go tits up in the end for us!
 

oldskyblue58

CCFC Finance Director
  • Apr 3, 2014
  • #1,531
Sub said:
Simon Gilbert‏@TheSimonGilbert28sDeering says Sisu never authorised the non-payment of rent. That was football club decision. Club paid ACL £10k per match after rent ceased
Click to expand...

So she is saying that SISU would have provided the funding to pay the rent then? because without it CCFC couldn't pay the rent
 
D

dongonzalos

Well-Known Member
  • Apr 3, 2014
  • #1,532
Absolutely just made my day

'Ms Seppala consider that it was a charity.'

Priceless

Said during a hearing in which she tried to bully them into backing down over the 29k she owes them by counter suing for ten times that.

Genuinely if you employed SISU to invest your money then discovered that they bid 2 million for something that they say is worth nothing because the seller was a charity. Words fail me....
 
G

Godiva

Well-Known Member
  • Apr 3, 2014
  • #1,533
Sub said:
Simon Gilbert‏@TheSimonGilbert28sDeering says Sisu never authorised the non-payment of rent. That was football club decision. Club paid ACL £10k per match after rent ceased
Click to expand...

How did Fisher put it ... oh yes, Joy is very hands on at the club.
 

skybluetony176

Well-Known Member
  • Apr 3, 2014
  • #1,534
covcity4life said:
willing to pay over the odds to a chairty is great to see

can only say well done sisu, a sentiment eschoed by all no doubt.
Click to expand...

Remind me what did the Yorkshire Bank value ACL at? It was more than £0.00 wasn't it.
 
A

AJB1983

Well-Known Member
  • Apr 3, 2014
  • #1,535
skybluebeduff said:
* Ms Deering confirms Sisu only continued to fund club in 2012 because they thought they could secure charity's stake in the Ricoh.

So there you have it, they are only here still because they still think they'll get the Higg's share, they are fucking staking everything on it, hence for now the continued funding. It's gonna go tits up in the end for us!
Click to expand...

Meanwhile CCFC slide down the football pyramid.....
 

Nick

Administrator
  • Apr 3, 2014
  • #1,536
lordsummerisle said:
I think that's their 50% share, always been valued at £6million or thereabouts since they bought it for £6.5million off the club as far as I'm aware.
Click to expand...

This is what confused me:

It appears total value of ACL was thought to be roughly £5.5m by Higgs at this time. Sisu QC describes it as a 'very good offer'
Click to expand...
 
D

dongonzalos

Well-Known Member
  • Apr 3, 2014
  • #1,537
oldskyblue58 said:
So she is saying that SISU would have provided the funding to pay the rent then? because without it CCFC couldn't pay the rent
Click to expand...

Yes because they would be paying a charity. Now we discover why Tim Fisher and ML keep distancing themselves from SISU

So decisions such as not paying rent is nothing to do with SISU trying to break ACL
 
D

dongonzalos

Well-Known Member
  • Apr 3, 2014
  • #1,538
Godiva said:
How did Fisher put it ... oh yes, Joy is very hands on at the club.
Click to expand...

Top top point Godiva
 
K

Kingokings204

Well-Known Member
  • Apr 3, 2014
  • #1,539
oldskyblue58 said:
So she is saying that SISU would have provided the funding to pay the rent then? because without it CCFC couldn't pay the rent
Click to expand...

more lies from the club
 
D

dongonzalos

Well-Known Member
  • Apr 3, 2014
  • #1,540
She must have been well versed for this cross examination yet it is going horribly wrong. TF may turn it round he is far slicker. It's a great shame ML and JS are not giving evidence
 
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