Judicial review thread - day 2 (6 Viewers)

[skybluetony176]

It's a fucking awful deal and on a company valued at less than half the loan,

How much would that value go up if the council choose to extend the lease to say 99years for the princely sum of £1.00?

Seems to me the the council are in full control of the value of a company that the Coventry tax payer owns half off. That sounds like a good investment to me on behalf of the Coventry tax payers.

 

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[shmmeee]

So, for those who've been saying "wait until the JR", has what you expected come out from Sisu or were there things you expected that haven't been mentioned?

 

[ccfcway]

Don't get me wrong - you're absolutely right, but surely the evidence of it being a sound investment lends weight to whether the public funds were misused? The SISU argument has had elements of "they did it to stop us getting it!" whereas the return on investment gives credence to a wise investment being the reason the deal happened (although the reality of it stopping SISU crippling ACL will surely come into it).

maybe your right, but i understood this was about a lawful process, as opposed to a debate about a miss use of funds ?

 

[ccfcway]

So, for those who've been saying "wait until the JR", has what you expected come out from Sisu or were there things you expected that haven't been mentioned?

"wait for the appeal"

 

[covmark]

So, for those who've been saying "wait until the JR", has what you expected come out from Sisu or were there things you expected that haven't been mentioned?

Thats a question for RFC, where is the little scamp anyway, he's been extremely quiet.

 

[shmmeee]

Thats a question for RFC, where is the little scamp anyway, he's been extremely quiet.

More than RFC have suggested info will come out. Just curious if that was it or there's more to come.

 

[letsallsingtogether]

More Earth shattering news to come tomorrow hold on to your umbrellas folks.

 

[letsallsingtogether]

Less of the scamp that was my cats name loved that cat.

Thats a question for RFC, where is the little scamp anyway, he's been extremely quiet.

 

[Senior Vick from Alicante]

No Sisu smoking gun then? Seems to be a straight choice for the judge was the loan illegal or not.

 

[shmmeee]

But no killer PR blow for the fans either. Very muted after all the buildup.

 

[NorthernWisdom]

But no killer PR blow for the fans either.

Aye. Almost a relief that there seems little extra to argue about!

 

[shmmeee]

Aye. Almost a relief that there seems little extra to argue about!

For you maybe, I enjoy a good argument

 

[RPHunt]

is that 3.3% ?

If ACL are repaying capital and interest, then that works out at about 5% return on capital. A good deal when the council can borrow this money at little more than 2%.

 

[CovFan]

For you maybe, I enjoy a good argument

no you don't.

 

[shmmeee]

no you don't.

[video=youtube;kQFKtI6gn9Y]http://www.youtube.com/watch?v=kQFKtI6gn9Y&feature=kp[/video]

 

[stupot07]

Yet YB were willing to loan £15.5m at a higher interest rate.......:thinking about:

So if you lent me say £14,400 over 41 years and I paid you £19,500 in interest alone (so a grand total of £34,300) you wouldn't bite my hand off?

Isnt that one of the problems re: state aid, undercutting the open market?


Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors

 

[Sky Blue Pete]

I have to say most of my pissed offness is well and truly at sisu but I am a little pissed off at CCc for playing hardball with my football club and for the twats in charge that though a hedge fund was the way forward

 

[Spionkop]

Nothing in these two days has changed my mind that the Sisu strategy is totally incompetent. In God's name, what ARE they doing?
If they'd just play nice, negotiate, build bridges, pay a decent price for what they want. Build the club, get the fans on their side (that's asking a lot I know). They must be losing so much money, and for what? Somebody tell me.
They're sitting on a goldmine, if only they'd take a slightly longer term view, let's say 3 or 4 years. CCFC fans are so desperate for a tiny upward turn, if we had a good season next season, at the Ricoh, really pushing for promotion, they'd make money. We'd forgive the odd star player going for a good price if they replaced them. (Thinking back to the Scott Dann/Danny Fox way of looking at it). 3 or 4 years, getting back to Championship (The 2nd Division in my book) maybe building a top end team. & I'm not talking about overspending stupidly either.
It ain't rocket science.
Instead we have this niggardly cheapskate approach.
Go on Tim/Joy, have a go at it. You know it makes sense.

 

[WiganSkyBlue]

More like Cov v Bristol in '77

You'll upset the Macams going on about that

 

[Spionkop]

Wigan...I like that bit....

"Sent from my Laptop, situated on my knee, using at least 2 fingers."

 

[Bennets Afro]

Seems to me the on benefactor of all of this is the council. Nice little earner

Coun QC justifies length of £14.4m Council/ACL loan by saying council will earn £19.4m in interest alone over the 40 year term of the lease.

 

[Grendel]

Seems to me the on benefactor of all of this is the council. Nice little earner

How cynical. I'm sure the taxpayers will all be seeing massive improvements in public services. Solihull eat your heart out - Coventry is the place to be.

 

[SkyblueBazza]

Only thing available is free water & free electricity (well, nobody has stopped me plugging into the floor socket next to Tim Fisher).

They're missing a trick here in the court complex...they'd make a fortune in coffee and tissue sales.

So you've plugged him in...now switch him on see if he lights up or something.


PUSB

 

[martcov]

Seems to me the on benefactor of all of this is the council. Nice little earner

They are obliged to make a profit otherwise someone could start a JR about state aid.... Any info. from your mates in the canteen?

 

[Kingokings204]

Seems like council have stood up to the tests and pass with flying colours. What we want is Coventry back at the Ricoh. It's obvious now these discussions won't do that but after it stops then maybe a couple of weeks back round the table and stop fucking around guys. Sort it

 

[skybluetony176]

For you maybe, I enjoy a good argument

No you don't.

 

[oldskyblue58]

Just been catching up on todays "action" in court.

Still not sure where this is leading. The main point I thought SISU would press on was the proper notification to EC of the state aid but that seemed to be mentioned but no big thing on it.

If they are setting the scene for court cases to follow then the grounds are certainly not clear cut it would seem

The background is all interesting but how does it build a strong case that proves the SISU case of illegal state aid and "irrationality" - a lot of it seemed to be "they should have done it our way". The bits about the cases in Austria, the proper EC notification etc about state aid were almost passed over by the tweets etc but surely this is where the challenge to what went on is isn't it?

I think that the CCC still have to prove to the judges satisfaction that the right decisions were taken for the right reasons at the right time and the right law complied with.

Following the comments from ML in particular I was somehow expecting more. A thought crosses my mind as to whether a deal was supposed to happen on the court steps, perhaps not but the reference to claims for damages (not usual at a JR) made me wonder - the CCC held their nerve seemingly if so

The Judge is doing his job well in my opinion and comes over as firm but impartial. Clearly he has a good understanding of the documents he has been presented with.

Difficult to get a real feel to this not being there. Tomorrow is another day I guess and the Judges opinion is the only one that counts in this

Such a crying shame that so much money is being spent on this when our football team is crying out for decent funding. Surely there was a better way for this saga to have been sorted out

 

[Lord_Nampil]

Think it was very over looked OBS, just because the council say it's not, doesn't mean it's not! More to come, think both of them tit for tatting make both of them look like amatures! But hey it remains to be seen what will happen!!

 

[martcov]

Think it was very over looked OBS, just because the council say it's not, doesn't mean it's not! More to come, think both of them tit for tatting make both of them look like amatures! But hey it remains to be seen what will happen!!

What is "it"?

 

[tisza]

Interesting to see how the ACl qc plays it bearing in mind the differences of opinion that were revealed between Higgs and CCc in the higgs case .

 

[letsallsingtogether]

Too Right mate who the fuck would live there fuc Solihiull full of Brummies and Villa scum.

How cynical. I'm sure the taxpayers will all be seeing massive improvements in public services. Solihull eat your heart out - Coventry is the place to be.

 

[Lord_Nampil]

What is "it"?

State aid.....

 

[RPHunt]

I do like the fact that the council QC is appearing to take the piss whenever the question of which SISU company was responsible for the lease crops up. His, apparent, confusion only mirrors what others have been through.

 

[Sky Blue Dal]

What has really annoyed me since this hearing started yesterday is that SISU in some way have admitted that the Stadium was it's prime interest and the football club was just gun fodder for them to use against ACL.

I honestly starting to wonder whether the relegation to league one was engineered by them in order to strengthen there bargaining hand.

There has been no apathy shown by the owners to our football club (Coventry City Football Club EST 1883).

 

[Grendel]

Seems to me the on benefactor of all of this is the council. Nice little earner

The real issue is where does the club go from here. The council will never satisfy new owners goals regarding the Ricoh let alone the present ones.

Lets hope they are dumb enough to build a new ground - otherwise we are dead.