This mornings Sunday Mail (1 Viewer)

[skyblue025]

Aren't the losses mostly to them?

A 50 million loss is a 50 million loss. I'm guessing most of it is their investors money and not theirs.

 

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[Nick]

A 50 million loss is a 50 million loss. I'm guessing most of it is their investors money and not theirs.

I'm not sure you understand it,?

 

[oldskyblue58]

A 50 million loss is a 50 million loss. I'm guessing most of it is their investors money and not theirs.

Only if they put 50m in to the investment in the first place. Which they have not.

Plus ARVO investment is not lost yet.

 

[NorthernWisdom]

I certainly don’t think it’s anymore complicated than that.

The litigation is a pain in the arse and has to be bankrolled by your opponent while fighting it. That’s great from SISU’s point of view if your opponent doesn’t have the financial capability to do that. However they’ve used that tactic on a local authority who can afford to bankroll defending the case and then get their money back at the end. If you’re going to use the courts to batter someone it’s probably best not to pick an opponent who can financially see it through.

The council obviously think they have a watertight case otherwise they would have capitulated by now. In much the same way as the government did last week with the Eurotunnel operators. No argument, accepted the judgment and coughed up millions.

If you ask me not have they only shown that they don’t batter people in court they’ve also demonstrated bad judgment in choosing their battle. You could argue doing the same things expecting different results is non too clever either.

It really is far more complicated.

Various points, none exclusive.

While being sued you can't use the cash you're paying out as you haven't had costs awarded to the other party at that stage.

The other party, if awarded costs against them, won't pay instantly and will string it out as long as they can legally.

The other party had to have the means to pay costs, or you don't get them.

Sponsorship etc is likely on hold while companies wait to see what the outcome is.

The on going action will divert resources away from growing the business.

Plenty more, too. Now as it's wasps, great. But if I were wasps, or CCC, I'd be pushing for the action to stop so I could use the money currently tied up, and get on with the core businesses.

It's not as simple as win / lose. The SISU strategy is to show it's easier to make a deal with them when the chance arises. Fight or flight are standard hedge fund choices, and SISU *are* battering people in court. It's a siege, not a duel.

 

[Gibbo]

and I was advised that even when awarded costs you never get awarded the amount actually spent

 

[NorthernWisdom]

And the fact that cases are allowed to be heard shows that there *is* an argument to be made, so you can't depend 100% on winning, however much you're advised that you will.

Of course this case to be made is why to demand legal action stops looks a little like blackmail, from the other side of the fence...

 

[WinchesterSkyBlue]

Article in today's Times by Henry Winter exposing the the inadequacies of the EFL in dealing with bad owners - here is the section on us:-

The FA, supposedly the guardian of the game, should become more involved, asking more questions. How is Sisu, the wretched hedge fund draining the life from Coventry City, allowed to get away with years of silence, litigation, and damaging a historic club? Because the authorities did not act. Is Joy Seppala, chief executive of Sisu, one of the most loathed people in football, standing accused of utter contempt for Coventry fans and English football?
Yes, and the EFL and FA should have summoned Seppala to explain her plans for Coventry. Is Seppala really as heartless as depicted? All the signs are that she is. Get out of our sport.
It should embarrass the EFL that Coventry have to inform the League by today where they will be playing next season. It could be the Ricoh, owned by the rugby club Wasps, who will not extend the lease because of Sisu legal wrangles, or elsewhere. Coventry council leader George Duggins, of Longford Ward, Coventry, pleaded with Sisu not to “play Russian roulette with the future of our great football club”. There have even been questions in the House. But not enough from the EFL. So it has been left to fans to campaign and pray. Coventry would be dead without their supporters, waving their “Save Our Club” placards.
And how would officials at the EFL, the Premier League and the FA feel if a name so synonymous with the heart of football, who brought in some of the most significant innovations in the game such as all-seater stands, disappeared on their watch? Shame.

Full article:-
Football fans need help in their fight against bad owners

 

[Nick]

Yet he never actually says what he wants the EFL to do and how?

We know she is a twat who doesn't give a shit about CCFC, the question is what can the EFL do?