Higgs vs CCFC Court Row (37 Viewers)

[Jack Griffin]

Simon Gilbert ‏@TheSimonGilbert 3 mins

Sisu boss Seppala threatened to withdraw CCFC funding following relegation, unless Ricoh deal could be agreed, Higgs' barrister claims.

https://twitter.com/TheSimonGilbert

 

---

[dongonzalos]

https://twitter.com/TheSimonGilbert

The Ricoh deal was not agreed. Yet the funding was not pulled?

Please don't tell me SISU do posture and make idle threats!!!!

Surely not.

 

[Sub]

Simon Gilbert ‏@TheSimonGilbert 3 mins

Sisu boss Seppala threatened to withdraw CCFC funding following relegation, unless Ricoh deal could be agreed, Higgs' barrister claims.

https://twitter.com/TheSimonGilbert

The way things have been i thought they already had refused to fund us !:thinking about:

 

[dongonzalos]

'This stadium is coming like a ghost stadium' by the Specials

 

[James Smith]

Wonder what music they'll walk out to. Hopefully it'll be 'Satisfaction' which was the anthem of choice in the 04/05 season.

No No it should be the Bachman Turner Overdrive - You ain't seen nothin' yet, in a thinly veiled reference to the JR.

 

[sky blue john]

Just a thought why is this a Higgs verses Sisu case ?
Should it not be Higgs v Ccfc because was it not only Ccfc that had the option to purchase the Higgs shares ?

 

[Godiva]

The Ricoh deal was not agreed. Yet the funding was not pulled?

Please don't tell me SISU do posture and make idle threats!!!!

Surely not.

Simon Gilbert ‏@TheSimonGilbert 3 mins

Sisu boss Seppala threatened to withdraw CCFC funding following relegation, unless Ricoh deal could be agreed, Higgs' barrister claims.


The way things have been i thought they already had refused to fund us !:thinking about:

Quote: Higgs' barrister claims

 

[oldskyblue58]

Just a thought why is this a Higgs verses Sisu case ?
Should it not be Higgs v Ccfc because was it not only Ccfc that had the option to purchase the Higgs shares ?

deal wasn't being done by CCFC using the option though ...... as I understand it as long as CCFC owed ACL money outside of the normal terms of business the option could not be activated. Rent not paid = no option activated.

I think the first thing that the judge will have to decide is who exactly were party to the deal. The action by the charity is against SISU not CCFC so clearly they believe there was no heads of terms agreed with CCFC. So begs the question who was to buy the 50% in ACL from the Charity doesn't it

 

[Sub]

Simon Gilbert‏@TheSimonGilbert12mHiggs had valued their shares in ACL at at least £7.5m according to barrister representing the charity.

 

[Godiva]

Simon Gilbert‏@TheSimonGilbert12mHiggs had valued their shares in ACL at at least £7.5m according to barrister representing the charity.

Not far from the £8m we assumed the formula price would be.

 

[Astute]

deal wasn't being done by CCFC using the option though ...... as I understand it as long as CCFC owed ACL money outside of the normal terms of business the option could not be activated. Rent not paid = no option activated.

I think the first thing that the judge will have to decide is who exactly were party to the deal. The action by the charity is against SISU not CCFC so clearly they believe there was no heads of terms agreed with CCFC. So begs the question who was to buy the 50% in ACL from the Charity doesn't it

Fisher admitted that CCFC wouldn't own the Ricoh and SISU and their shareholders would. So I can't see it as being CCFC that were going to purchase the Higgs share.

 

[Gint11]

Anyone know the latest?

 

[James Smith]

for the latest either keep following this thread or @thesimongilbert on twitter.

 

[Godiva]

Fisher admitted that CCFC wouldn't own the Ricoh and SISU and their shareholders would. So I can't see it as being CCFC that were going to purchase the Higgs share.

We don't know how they would channel the money. Could be through SBS&L. Or through Otium.

 

[dongonzalos]

Quote: Higgs' barrister claims

And you don't believe she did?

 

[PIPSQUEEK]

Just a thought why is this a Higgs verses Sisu case ?
Should it not be Higgs v Ccfc because was it not only Ccfc that had the option to purchase the Higgs shares ?

My thoughts as well

 

[torchomatic]

Fisher admitted that CCFC wouldn't own the Ricoh and SISU and their shareholders would. So I can't see it as being CCFC that were going to purchase the Higgs share.

Not this again. So what. We'll never own our ground again no matter who our owners are.

Sent from my GT-I9505 using Tapatalk

 

[dongonzalos]

deal wasn't being done by CCFC using the option though ...... as I understand it as long as CCFC owed ACL money outside of the normal terms of business the option could not be activated. Rent not paid = no option activated.

I think the first thing that the judge will have to decide is who exactly were party to the deal. The action by the charity is against SISU not CCFC so clearly they believe there was no heads of terms agreed with CCFC. So begs the question who was to buy the 50% in ACL from the Charity doesn't it

Is this going down a 'buy the shares under SISU
So eventually when you have to get rid of the football club you have an entertainments venue ran by AEG' route?

 

[Sub]

1. Simon Gilbert‏@TheSimonGilbert
2. Finance officer's report to council chief Martin Reeves suggests council knew Sisu would see council Ricoh loan refinance as a "hostile act"
   
   Simon Gilbert‏@TheSimonGilbert
3. ]Report suggests council thought Sisu would liquidate club after council/Ricoh loan deal or could be persuaded to put CCFC on market.

 

[Sub]

Simon Gilbert‏@TheSimonGilbert52s
Higgs charity claims Ricoh / council loan restructure took place after exclusivity agreement with Sisu over Ricoh negotiations had expired.

 

[Nick]

How do these things usually work? Will it be Higgs today, SISU tomorrow and then the verdict on the 3rd day?

Or is it back and forth throughout?

 

[fernandopartridge]

[*]Simon Gilbert‏@TheSimonGilbert
[*]]Report suggests council thought Sisu would liquidate club after council/Ricoh loan deal or could be persuaded to put CCFC on market.
[/LIST]

Oh dear

 

[chiefdave]

Simon Gilbert‏@TheSimonGilberthttp://www.skybluestalk.co.uk/TheSimonGilbert/status/450960179656679424
Higgs charity claims Ricoh / council loan restructure took place after exclusivity agreement with Sisu over Ricoh negotiations had expired.

That could be a key point couldn't it? If SISU had a set timeframe to get things done and that had expired they can't really complain that another deal was done. Is this a back and forth or are we getting Higgs side first and then SISU?

 

[Nick]

SO when they say put CCFC on the market, does this mean to Haskell?

 

[fernandopartridge]

That could be a key point couldn't it? If SISU had a set timeframe to get things done and that had expired they can't really complain that another deal was done. Is this a back and forth or are we getting Higgs side first and then SISU?

It depends on the reason for not getting things done, doesn't it?

 

[Godiva]

1. Simon Gilbert‏@TheSimonGilbert
2. Finance officer's report to council chief Martin Reeves suggests council knew Sisu would see council Ricoh loan refinance as a "hostile act"

Oh, really??

 

[shmmeee]

Oh dear

How are you parsing that? I don't understand the "liquidate or put club on market" bit.

Are they saying the council pulled out because they thought they'd liquidate or sell? Wouldn't that mean they wanted Sisu around?

Confused.

 

[Monners]

Suspect the open market.

 

[Sub]

Simon Gilbert‏@TheSimonGilbert1mReport suggests council thought Sisu might continue to negotiate a Ricoh deal despite council / Ricoh loan buy-out from Yorkshire Bank

 

[Godiva]

1. Simon Gilbert‏@TheSimonGilbert
2. ]Report suggests council thought Sisu would liquidate club after council/Ricoh loan deal or could be persuaded to put CCFC on market.

This is vital!
Will also be vital in the JR.

 

[fernandopartridge]

SO when they say put CCFC on the market, does this mean to Haskell?

SISU said they thought the early attempt by ACL to put the club into administration was ACL trying to prompt regime change

 

[dongonzalos]

SO when they say put CCFC on the market, does this mean to Haskell?

They considered every option which is what you have to

SISU will continue to negotiate
SISU will attempt to liquidate the club
SISU will see it as hostile
SISU would sell the club

You can't take a big decision without considering all the outcomes

 

[shmmeee]

SISU said they thought the early attempt by ACL to put the club into administration was ACL trying to prompt regime change

Early???

 

[Sub]

Simon Gilbert‏@TheSimonGilbert36sCouncil and Higgs charity disagreed over value of charity's share in ACL as a result of refinance deal. CCC thought shares value increased

 

[dongonzalos]

Don't really see any shock factor in this