RoboCCFC90
Well-Known Member
Sisu are suing a Charity? Alan Higgs Trust..
Disheartening Sky Blue's Story On The Way.. (6 Viewers)
- Thread starter RoboCCFC90
- Start date
thaiskyblue
New Member
scum......
covmark
Well-Known Member
reason?
Rusty Trombone
Well-Known Member
Two of the key players in the Ricoh Arena saga have locked horns in a new legal battle.
The Alan Edward Higgs Charity and Coventry City’s owners Sisu are in the midst of court wrangle which could result in a hefty payout for either side.
Sources have confirmed the two warring parties are going head to head after the charity put in a claim against the club’s owners for expenses incurred during negotiations back in 2012.
The negotiations centred on the club’s attempt to purchase the charity’s stake in Arena Coventry Limited (ACL) - a joint venture company between the Higgs Charity and Coventry City Council which operates the Ricoh Arena.
The charity’s claim is based on a negotiation clause which stated that if talks broke down the club would cover the charity’s costs accrued as part of the process - believed to be in the region of £30,000.
However, the club has defended the claim and has launched a counter-claim against the charity - believed to be in the region of six figures.
Club bosses believe the charity must shoulder the blame for negotiations breaking down with the council after ACL and the city council agreed a deal which saw the council effectively become ACL’s mortgage lenders by buying the stadium company’s bank debt from Yorkshire Bank for £14million.
Club sources maintain that Sisu paying off the debt was a key part of the discussions and that the club was forced out of a potential deal as a result of the council stepping in.
The club’s counter-claim appears to rest on their assertion that charity bosses - as joint stakeholders in ACL - must have been party to discussions about a deal with the council; and therefore responsible for the breakdown in negotiations.
The reason for the vast difference between the charity and the football club’s claims is put down to the club’s owners incurring higher costs due to being the pro-active party as the buyer in negotiations.
Both claims are believed to cover items such as legal fees, officials’ time and other administrative costs.
Peter Knatchbull-Hugessen, clerk of the Higgs Charity, said: “Trustees have a responsibility to ensure that monies owed are returned to the charity.”
The £14m bank debt deal between ACL, Yorkshire Bank and the council will be the subject of a judicial review in the coming months after club owners claimed the deal constituted illegal state aid.
The Alan Edward Higgs Charity and Coventry City’s owners Sisu are in the midst of court wrangle which could result in a hefty payout for either side.
Sources have confirmed the two warring parties are going head to head after the charity put in a claim against the club’s owners for expenses incurred during negotiations back in 2012.
The negotiations centred on the club’s attempt to purchase the charity’s stake in Arena Coventry Limited (ACL) - a joint venture company between the Higgs Charity and Coventry City Council which operates the Ricoh Arena.
The charity’s claim is based on a negotiation clause which stated that if talks broke down the club would cover the charity’s costs accrued as part of the process - believed to be in the region of £30,000.
However, the club has defended the claim and has launched a counter-claim against the charity - believed to be in the region of six figures.
Club bosses believe the charity must shoulder the blame for negotiations breaking down with the council after ACL and the city council agreed a deal which saw the council effectively become ACL’s mortgage lenders by buying the stadium company’s bank debt from Yorkshire Bank for £14million.
Club sources maintain that Sisu paying off the debt was a key part of the discussions and that the club was forced out of a potential deal as a result of the council stepping in.
The club’s counter-claim appears to rest on their assertion that charity bosses - as joint stakeholders in ACL - must have been party to discussions about a deal with the council; and therefore responsible for the breakdown in negotiations.
The reason for the vast difference between the charity and the football club’s claims is put down to the club’s owners incurring higher costs due to being the pro-active party as the buyer in negotiations.
Both claims are believed to cover items such as legal fees, officials’ time and other administrative costs.
Peter Knatchbull-Hugessen, clerk of the Higgs Charity, said: “Trustees have a responsibility to ensure that monies owed are returned to the charity.”
The £14m bank debt deal between ACL, Yorkshire Bank and the council will be the subject of a judicial review in the coming months after club owners claimed the deal constituted illegal state aid.
saying it's thier fault negotiations broke down
http://www.coventrytelegraph.net/news/coventry-news/coventry-city-owners-court-battle-6519080
He says the club are sueing them, who does he mean by the club?
It's best to link to the article
http://www.coventrytelegraph.net/news/coventry-news/coventry-city-owners-court-battle-6519080
while I've been quite outspoken about the quality of articles, it's only right that we link to the articles so they get paid for their work.
Snozz_is_god
New Member
Penny pinching scum. Last straw for me. The refused to pay a charity £30k
torchomatic
Well-Known Member
Oh FFS. More pointless litigation and more money for the lawyers.
wes_cov
New Member
Timings of this sue and counter sue seems off to me my understanding was:
SISU made enquiries to buy the alan higgs share of ACL so clause in the contract that SISU would cover the cost should these negotiations breakdown...
SISU having seen the books then stopped paying rent to distress ACL this then caused yorkshire bank to ask for the money back and CCC bought out the loan
SISU are now saying that CCC buying out the loan was what broke the negotiations???
AM i missing something?
SISU made enquiries to buy the alan higgs share of ACL so clause in the contract that SISU would cover the cost should these negotiations breakdown...
SISU having seen the books then stopped paying rent to distress ACL this then caused yorkshire bank to ask for the money back and CCC bought out the loan
SISU are now saying that CCC buying out the loan was what broke the negotiations???
AM i missing something?
SkyBlueScottie
Well-Known Member
They might actually have a point on this one... But we shall see.
torchomatic
Well-Known Member
Sky Blue Kid
Well-Known Member
As I've said before...SISU will NEVER pay what they owe to anybody..F**king Scum!
SkyBlueScottie
Well-Known Member
Sisu were also in discussions to buy out the ACL loan....
thaiskyblue
New Member
sisu don't do discussion.
torchomatic
Well-Known Member
I guess this doesn't help us get back to the Ricoh then? 
torchomatic
Well-Known Member
You're missing the fact negotiations to buy the share broke down many many months before CCC brought the debt and they only needed to buy the debt as sisu wern't paying the rent.
bigfatronssba
Well-Known Member
skybluebal
New Member
Counter-Sueing a charity over a £30K claim from the Charity (a figure which SISU could have negotiated down probably)! Can they stoop any lower and make CCFC even more of a laughing stock
chiefdave
Well-Known Member
Absolutely disgusting from SISU. Unless PWKH is outright lying Higgs agreed to sell to SISU and never heard anything back from them. Not sure what the loan has to do with it. From day one ACL has had a loan they've been repaying, first to Yorkshire Bank and then to CCC. If SISU were concerned about the loan then just pay it back after buying into ACL!
£30K to SISU is nothing the way they are losing money out of stubbornness. To refuse to pay it when owed to a charity and then make things worse by suing the charity for a six figure sum is beyond belief even for them.
Can't wait to hear Labovich on CWR trying to explain his way out of this one.
£30K to SISU is nothing the way they are losing money out of stubbornness. To refuse to pay it when owed to a charity and then make things worse by suing the charity for a six figure sum is beyond belief even for them.
Can't wait to hear Labovich on CWR trying to explain his way out of this one.
RoboCCFC90
Well-Known Member
On the face of this it look's incredibly unfair and damn right outrageous, not to mention souless that Sisu are sueing a Charity in the Alan Higgs, however isn't PWKH a member of the ACL board, isn't that conflicted?
Samo
Well-Known Member
But surely Joy is a devout Christian? :thinking about:
Lorksalordy
New Member
All very well and it is indeed disheartening as it just means one more shitty strand in this mess. I am struggling to put into context as to what, if any, impact this has on...
1. Ability to get some new players in during Jan
2. Likelihood of a City home match ever taking place in a CV postcode again
3. Leon Clarke starting on Saturday
4. The price of fish
1. Ability to get some new players in during Jan
2. Likelihood of a City home match ever taking place in a CV postcode again
3. Leon Clarke starting on Saturday
4. The price of fish
The Penguin
Well-Known Member
He'll do what he's always done: badmouth the opposition (in this case, the Charity) and paint himself and his colleagues as the poor, put-upon victims.
skybluesam66
Well-Known Member
The price of fish will invariable go up within Coventry
Coventry supporters will stop attending games
More disposable income
Spend this on better quality food including fish
Supply and demand
The price of fish will increase
as for 1-3 I have no idea
Rob S
Well-Known Member
This could actually be a good thing (or at least contain some good things). Hear me out...
A lot of the back & forth about who said & did what in whatever negotiation/meeting/downstairs toilet has never really come out properly in public. These actions (sue & counter-sue), if they end up in court*, will mean that what happened with the ACL/Higgs/CCC/Sisu rent deal that got called off will be discussed in open court where every single protagonist will be legally bound to tell the truth, the whole truth etc.
Just like we will if the judicial review goes ahead, we will finally hear the whole story about one of the key parts of this ever-more ridiculous saga.
A near total majority of the SBA want an investigation into the whole situation and until this happens, open court is the closest we'll get. It may mean that some people might hear things that go against things they currently hold to be true but then that is going to happen with a full investigation anyway.
Bring it on.
* Of course it will probably get settled out of court as most of these things do.
A lot of the back & forth about who said & did what in whatever negotiation/meeting/downstairs toilet has never really come out properly in public. These actions (sue & counter-sue), if they end up in court*, will mean that what happened with the ACL/Higgs/CCC/Sisu rent deal that got called off will be discussed in open court where every single protagonist will be legally bound to tell the truth, the whole truth etc.
Just like we will if the judicial review goes ahead, we will finally hear the whole story about one of the key parts of this ever-more ridiculous saga.
A near total majority of the SBA want an investigation into the whole situation and until this happens, open court is the closest we'll get. It may mean that some people might hear things that go against things they currently hold to be true but then that is going to happen with a full investigation anyway.
Bring it on.
* Of course it will probably get settled out of court as most of these things do.