Uncovered Something on SISU... (3 Viewers)

[WillieStanley]

... Although, not being a legal buff of any kind, I've read through it and can't make head nor tale. I can't work out whether SISU themselves were in trouble way back in 2005 or whether this is merely further evidence of their ruthlessness. I can see that there's a dispute with expenses being claimed and that a company involved with them went into liquidation.

Anyone with a legal head on 'em care to have a glance through and maybe shed some light as to whether we can take anything from this or whether I'm wasting everyones time? It seems relevent, even though it was a few years before they took us over.

History is there to learn from so there might be something useful in there.

Here's the link.

http://www.bailii.org/ew/cases/EWHC/Ch/2005/2321.html

 

---

[Sir Digby Chicken Caesar]

(1) SISU CAPITAL FUND LTD
(2) SISU CAPITAL FUND LTD II LTD
(3) SISUCAPITAL FUND LIMITED PARTNERSHIP

?????

SISU CAPITAL FUND LTD II

There's a f@&kin sequel

But seriously. Are these different companies ???

 

[WillieStanley]

Aliases maybe! Slippery snakes though, eh!

 

[Sub]

see theres a AVRO MASTER FUND THERE to so where did i hear that name recently :thinking about::thinking about::thinking about::thinking about:

 

[shmmeee]

Seems to be something fairly dull about legal costs arising from admin that SISU wanted back. IANAL though and only glanced through it so could well be wrong.

 

[WillieStanley]

Like I say, I haven't a clue! Thanks for having a glance! I reckon, though, if its about them, then its worth posting!

 

[Alex]

Yeah shmmeee I agree, looks like something to do with administrative costs and people not wanting to pay.
As to the different names of the companies, they're probably holdings set up for each investment SISU make, so if that particular investment goes tits up they don't drag the rest of the company down with them.
There's probably a SISU CAPITAL FUND CCFC Ltd

 

[Godiva]

It looks like sisu were involved in a company that went into liquidation - they have most likely setup the same financing model as used for the loans to the club.
Anyway - the dispute is about how KPMG (administrator) have bill'ed their cost and how it effect how much sisu regained as creditor.

Sisu were not in trouble themself. They were just pissed off by KPMGs exorbitant billings. It happens all the time, when a company goes bust the only winner is the administrator.

So sorry to disappoint you guys ... the vultures in this case are actually KPMG and not sisu.

 

[Tonylinc]

It looks like sisu were involved in a company that went into liquidation - they have most likely setup the same financing model as used for the loans to the club.
Anyway - the dispute is about how KPMG (administrator) have bill'ed their cost and how it effect how much sisu regained as creditor.

Sisu were not in trouble themself. They were just pissed off by KPMGs exorbitant billings. It happens all the time, when a company goes bust the only winner is the administrator.

So sorry to disappoint you guys ... the vultures in this case are actually KPMG and not sisu.

That is exactly how I also read it. As you say the only winners are the Liquidators and lawyers.