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Judicial Review (3 Viewers)

  • Thread starter Big_Ben
  • Start date Aug 2, 2013
Forums New posts
B

Big_Ben

Well-Known Member
  • Aug 2, 2013
  • #1
Now that it looks an almost certainty that CCFC Ltd will be liquidated, it would appear to be a cast-iron certainty that the application fror judicial review by SISU against CCC will go ahead.

Does anybody know just what it would mean to CCC if the review was granted and CCC was ultimately found to be guilty as charged?

Is it likely to be a slap on the wrist or a massive fine or what?

I assume that a finding for SISU will be the start of a massive claim for damages against CCC, but that's just a guess.
 
N

Noggin

New Member
  • Aug 2, 2013
  • #2
Big_Ben said:
I assume that a finding for SISU will be the start of a massive claim for damages against CCC, but that's just a guess.
Click to expand...

We're unhappy you used public money, your punishment will be to give away lots of public money. Not saying your wrong just that would be hugely ironic.
 
R

Roger Mellie

Well-Known Member
  • Aug 2, 2013
  • #3
I think a JR can specify a number of requirements, including the 'unwinding' the original transaction. This may be impractical though as I can't see any commercial lender would wish to advance ACL £14m to 'buy out' the CCC loan, especially as Yorkshire Bank were allegedly happy to sell the debt to SISU for half that (they probably had already raised a provision against it)
It may compel CCC to change the terms of the loan to a more commercial (I.e expensive) rate?
 

sky blue john

Well-Known Member
  • Aug 2, 2013
  • #4
The judge hasn't even decided if there's a case yet !!!
 
B

Big_Ben

Well-Known Member
  • Aug 2, 2013
  • #5
sky blue john said:
The judge hasn't even decided if there's a case yet !!!
Click to expand...
You obviously didn't read the bit that said "Does anybody know just what it would mean to CCC if the review was granted and CCC was ultimately found to be guilty as charged?"
 

italiahorse

Well-Known Member
  • Aug 2, 2013
  • #6
Bag of worms really.

A lot of councils support there club with either a peppercorn rent, loans etc.

I believe its 3% interest they are charging, hardly a misuse of funds.
 
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