How much is needed to pay the lawyers ? (7 Viewers)

sky blue john · Jan 4, 2017

With Sisu having lost the JR they have to pay all the court costs their own and the councils. How many millions is the total ?
The reason I ask is that we know the owners are not prepared to put anymore money in. Does this include court liabilities ?
Someone has to pay and I don't expect the owners will want to stump up the cash for lost court battles. What is stopping Sisu selling a few players and taking the money against existing owed debt. Then using it to pay the millions owed in court costs ?

Nick · Jan 4, 2017

You are on overdrive recently!

Have ccfc paid any court fees to date?

sky blue john · Jan 4, 2017

Nick said:
You are on overdrive recently!

Have ccfc paid any court fees to date?

Not that i am aware of.
But have Sisu paid any court fees to date. Are they still to be paid ?
If so where will they get the money from if the owners don't want to cough up ?

Nick · Jan 4, 2017

sky blue john said:
Not that i am aware of.
But have Sisu paid any court fees to date. Are they still to be paid ?
If so where will they get the money from if the owners don't want to cough up ?

Didn't they already pay some to the council?

Not sure about the latest ones.

sky blue john · Jan 4, 2017

This is what i am asking because as far as i'm aware costs kept getting carried over on each appeal.

Nick · Jan 4, 2017

Have the latest ones had a figure ruled yet?

sky blue john · Jan 4, 2017

Nick said:
Have the latest ones had a figure ruled yet?

I think i remember just the councils costs being in excess of a million.

shmmeee · Jan 4, 2017

Court action is by Sisu isn't it?

Council costs were £250k and paid by Sisu not CCFC.

Are the club on there as "named parties" or whatever it's called?

Brylowes · Jan 4, 2017

Nick said:
Didn't they already pay some to the council?

Not sure about the latest ones.

Court costs wouldn't be payed to the council would they, the councils legal fees would
But not court costs.

shmmeee · Jan 4, 2017

Brylowes said:
Court costs wouldn't be payed to the council would they, the councils legal fees would
But not court costs.

See my link.

Liquid Gold · Jan 4, 2017

I have very reliable information that the sales of Willis and Stevenson are to cover court fees and the reason we've rejected a bid from Brentford is if we get a certain figure then sisu will have the funds to launch another case.

Grendel · Jan 4, 2017

Highly unlikely sisu pay a penny on court cases let alone ccfc

Nick · Jan 4, 2017

Liquid Gold said:
I have very reliable information that the sales of Willis and Stevenson are to cover court fees and the reason we've rejected a bid from Brentford is if we get a certain figure then sisu will have the funds to launch another case.

Where from?

shmmeee · Jan 4, 2017

Grendel said:
Highly unlikely sisu pay a penny on court cases let alone ccfc

Eh?

Nick said:
Where from?

I'm guessing a three way toss up between "The pub", "facebook" and "Jim the Gateman"

Grendel · Jan 4, 2017

Nick said:
Where from?

Sky Blue John

Grendel · Jan 4, 2017

shmmeee said:
Eh?

Third party litigation funding is almost certainly what's going on here

Liquid Gold · Jan 4, 2017

Nick said:
Where from?

shmmeee said:
Eh?

I'm guessing a three way toss up between "The pub", "facebook" and "Jim the Gateman"

No I just straight made it up, wanted to know how it felt

fernandopartridge · Jan 5, 2017

shmmeee said:
Eh?

I'm guessing a three way toss up between "The pub", "facebook" and "Jim the Gateman"

The implication is that State Aid cases could prove massive precedence across the EU so are therefore funded by 3rd parties with a vested interest. SISU as a buyer of distressed debt will know of plenty of such third parties.

Brylowes · Jan 5, 2017

Grendel said:
Highly unlikely sisu pay a penny on court cases let alone ccfc

You're probably right, after all they don't even pay their Chairman.

sky blue john · Jan 5, 2017

I used question marks to open up discussion as i don't know the answer.
But someone has to pay the lawyers for the days in court, the money has to come from somewhere ?

Grendel · Jan 5, 2017

sky blue john said:
I used question marks to open up discussion as i don't know the answer.
But someone has to pay the lawyers for the days in court, the money has to come from somewhere ?

Google third party litigation funding

sky blue john · Jan 5, 2017

Grendel said:
Google third party litigation funding

Done it.
Yes there are companies that will take on costs based on prospects of success.
So in irrelevant in this case as they had no chance of winning !
So who will pay the lawyers ?

Grendel · Jan 5, 2017

sky blue john said:
Done it.
Yes there are companies that will take on costs based on prospects of success.
So in irrelevant in this case as they had no chance of winning !
So who will pay the lawyers ?

The third party investors who are funding the litigation.

Sky Blue Kid · Jan 5, 2017

Liquid Gold said:
I have very reliable information that the sales of Willis and Stevenson are to cover court fees and the reason we've rejected a bid from Brentford is if we get a certain figure then sisu will have the funds to launch another case.

Thus proving(If you're not being given false information) that no money will be going to CCFC for the playing staff.

Grendel · Jan 5, 2017

Sky Blue Kid said:
Thus proving(If you're not being given false information) that no money will be going to CCFC for the playing staff.

He was joking

Sky Blue Kid · Jan 5, 2017

Grendel said:
He was joking

Pity he didn't get my point on Fisher

dongonzalos · Jan 5, 2017

Third party litigation only happens when you have a very good chance of success.
If I owned a law firm and one of my lawyers reviewed this case from the outset and said we have a very good chance of winning. He would be sacked now.
It is more likely SISU are paying for this legal action. The high court judges initial judgement was scathing. It was a decimation and there was a reason for that.

skybluetony176 · Jan 5, 2017

I think that the notion that litigation hasn't cost the club is dumbfounded. The reality is it has cost us everything. Everything that the club is currently is based on a failed policy of distress that the litigation was at the heart of. It's shaped everything and every decision since it started both within the club and with any third party that's ever been connected to the club.

sky blue john · Jan 5, 2017

So its not inconceivable for Sisu to take money out of the club against existing debt to fund the lawyers.

Captain Dart · Jan 5, 2017

sky blue john said:
Done it.
Yes there are companies that will take on costs based on prospects of success.
So in irrelevant in this case as they had no chance of winning !
So who will pay the lawyers ?

It is not just the prospect of success, there is also a risk/reward equation, as these cases may have staggeringly huge implications across Europe the reward potential is correspondingly massive.

Grendel · Jan 5, 2017

sky blue john said:
So its not inconceivable for Sisu to take money out of the club against existing debt to fund the lawyers.

That's not happening.

chiefdave · Jan 5, 2017

sky blue john said:
So its not inconceivable for Sisu to take money out of the club against existing debt to fund the lawyers.

Any debts owed by CCFC can be paid out at any point, assuming we have the money to pay them. However the accounts don't show this happening and something would have to be billed to the club. I'm not sure the auditors would give a pass to a huge bill for legal fees incurred by a third party taking legal action.

sky blue john · Jan 5, 2017

chiefdave said:
Any debts owed by CCFC can be paid out at any point, assuming we have the money to pay them. However the accounts don't show this happening and something would have to be billed to the club. I'm not sure the auditors would give a pass to a huge bill for legal fees incurred by a third party taking legal action.

But if the club has made an extra few million in transfer fees. This excess money can be taken at any time against debt / outstanding loans to the club. They don't have explain where its going or what it will be used for.
The club wouldn't pay it directly.

chickentikkamasala · Jan 5, 2017

Grendel said:
That's not happening.

Could you provide 100% proof please? your source?

ceetee · Jan 5, 2017

sky blue john said:
So its not inconceivable for Sisu to take money out of the club against existing debt to fund the lawyers.

IF CCFC genuinely owes money to SISU, then they are entitled to take money out to cover debts. (although others who understand the accounts say there is no evidence of that so far). It's not corrupt. It's not lining SISU's pockets.
That's an unfortunate fact and although we, as supporters, want that money spent on players, the owners can do what they please.

How much is needed to pay the lawyers ? (7 Viewers)

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