Higgs vs CCFC Court Row (7 Viewers)

[martcov]

Strange that ML says that ACL are ravacious landlords, but half of their ravacious business is worth sweet F.A.

 

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[Sub]

Is this for real!?! Hedge fund offers £5.5m for something they said was worth nothing? We've got a few days worth of rubbish out the back here that they can make us an offer for in that case.

yup im just pasting direct from his twitter so people can see

 

[duffer]

We will give them £5.5 million as they a charity, but wont pay them £29k ?

:thinking about:

Absolutely. What an utter load of rubbish.

 

[dongonzalos]

Simon Gilbert‏@TheSimonGilbert53 secsJustice Leggatt intervenes 'but you're not a charity are you'. Deering says she doesn't know details of discussion between Harris & Seppala

Thank god he did he was probably wondering why Higgs' QC didn't. Shows he does not believe that

 

[ccfcway]

Simon Gilbert‏@TheSimonGilbert18sDeering believes the original transaction fell apart after the exclusivity period. Could be a key point.

any chance the Higgs QC could quickly slip in "is there any plans at all to build a new stadium ?"

 

[kmj5000]

Simon Gilbert‏@TheSimonGilbert44 secsMs Deering confirms Sisu thought charity's share was worth nothing.

How did they conclude that if they hadn't completed their due dilligence?

 

[Grendel]

Is this for real!?! Hedge fund offers £5.5m for something they said was worth nothing? We've got a few days worth of rubbish out the back here that they can make us an offer for in that case.

Perfectly believable - they could hold up a picture of Freddie Eastwood as exhibit A regarding spending millions on rubbish.

 

[AJB1983]

Absolutely. What an utter load of rubbish.

Or pay 100k a month rent....

 

[lordsummerisle]

Strange that ML says that ACL are ravacious landlords, but half of their ravacious business is worth sweet F.A.

Ravacious? Surely would be better if they were curvaceous?

Would help negotiations along no end if done in bikinis.

 

[ccfcway]

Strange that ML says that ACL are ravacious landlords, but half of their ravacious business is worth sweet F.A.

landlords that they recognise as a charity and are happy to give £5.5 million to, but not £1.2 million rent or £29k of agreed funds if negotiations collapse

 

[dongonzalos]

Better get Joy up on the stand then so she can be questioned.

She has been brought into this and is not here

 

[Jack Griffin]

Finally the truth people..... Sisu backed down from the agree 5.5m which is a steal anyway and offered 2m hence it fell apart.

Case solved. They are wankers. Deserve everything they get now.

(Yesterday in court) PWKH is now taking the line that AEHC values the shares at £7.5M.

 

[Nick]

Didn't Higgs say they valued ACL at £6m so 50% is £3m? Or is that wrong?

 

[Hobo]

Who decides who is and isn't in court? Does the judge or Higgs have any power to get Sepalla to turn up?

Could do, but why? It's SISU who suggest she might have the answer to that one, if they haven't called their star witness they will have to do without her answer then.

 

[fernandopartridge]

Somebody mentioned registering the Ricoh Arena as a charity, I believe that ACL should have been registered as such from the beginning, as something with charitable aims rather than just a way for the council to try and swell their own coffers.

 

[oldskyblue58]

if they have valued it at nil then surely due diligence (a process to define worth amongst other things) was complete because they must know that the Charity would not let them have it for nothing. Their offer was therefore an arbitrary figure based on nothing at all ....... to use their implication a donation to a charity

 

[covcity4life]

willing to pay over the odds to a chairty is great to see

can only say well done sisu, a sentiment eschoed by all no doubt.

 

[Sub]

Simon Gilbert‏@TheSimonGilbert28sDeering says Sisu never authorised the non-payment of rent. That was football club decision. Club paid ACL £10k per match after rent ceased

 

[lordsummerisle]

Didn't Higgs say they valued ACL at £6m so 50% is £3m? Or is that wrong?

I think that's their 50% share, always been valued at £6million or thereabouts since they bought it for £6.5million off the club as far as I'm aware.

 

[Sub]

Simon Gilbert‏@TheSimonGilbert28sDeering says Sisu never authorised the non-payment of rent. That was football club decision. Club paid ACL £10k per match after rent ceased

???? WTF they own the club !:thinking about:

 

[fernandopartridge]

Does it not point to the fact that ACL has never been properly valued?

 

[James Smith]

Somebody mentioned registering the Ricoh Arena as a charity, I believe that ACL should have been registered as such from the beginning, as something with charitable aims rather than just a way for the council to try and swell their own coffers.

Other than the loan have the council actually made any money though?

 

[covcity4life]

???? WTF they own the club !:thinking about:

even i cant help them with this one haha

 

[martcov]

Somebody mentioned registering the Ricoh Arena as a charity, I believe that ACL should have been registered as such from the beginning, as something with charitable aims rather than just a way for the council to try and swell their own coffers.

How much have the council taken out so far to swell their coffers?

 

[skybluebeduff]

* Ms Deering confirms Sisu only continued to fund club in 2012 because they thought they could secure charity's stake in the Ricoh.

So there you have it, they are only here still because they still think they'll get the Higg's share, they are fucking staking everything on it, hence for now the continued funding. It's gonna go tits up in the end for us!

 

[oldskyblue58]

Simon Gilbert‏@TheSimonGilbert28sDeering says Sisu never authorised the non-payment of rent. That was football club decision. Club paid ACL £10k per match after rent ceased

So she is saying that SISU would have provided the funding to pay the rent then? because without it CCFC couldn't pay the rent

 

[dongonzalos]

Absolutely just made my day

'Ms Seppala consider that it was a charity.'

Priceless

Said during a hearing in which she tried to bully them into backing down over the 29k she owes them by counter suing for ten times that.

Genuinely if you employed SISU to invest your money then discovered that they bid 2 million for something that they say is worth nothing because the seller was a charity. Words fail me....

 

[Godiva]

Simon Gilbert‏@TheSimonGilbert28sDeering says Sisu never authorised the non-payment of rent. That was football club decision. Club paid ACL £10k per match after rent ceased

How did Fisher put it ... oh yes, Joy is very hands on at the club.

 

[skybluetony176]

willing to pay over the odds to a chairty is great to see

can only say well done sisu, a sentiment eschoed by all no doubt.

Remind me what did the Yorkshire Bank value ACL at? It was more than £0.00 wasn't it.

 

[AJB1983]

* Ms Deering confirms Sisu only continued to fund club in 2012 because they thought they could secure charity's stake in the Ricoh.

So there you have it, they are only here still because they still think they'll get the Higg's share, they are fucking staking everything on it, hence for now the continued funding. It's gonna go tits up in the end for us!

Meanwhile CCFC slide down the football pyramid.....

 

[Nick]

I think that's their 50% share, always been valued at £6million or thereabouts since they bought it for £6.5million off the club as far as I'm aware.

This is what confused me:

It appears total value of ACL was thought to be roughly £5.5m by Higgs at this time. Sisu QC describes it as a 'very good offer'

 

[dongonzalos]

So she is saying that SISU would have provided the funding to pay the rent then? because without it CCFC couldn't pay the rent

Yes because they would be paying a charity. Now we discover why Tim Fisher and ML keep distancing themselves from SISU

So decisions such as not paying rent is nothing to do with SISU trying to break ACL

 

[dongonzalos]

How did Fisher put it ... oh yes, Joy is very hands on at the club.

Top top point Godiva

 

[Kingokings204]

So she is saying that SISU would have provided the funding to pay the rent then? because without it CCFC couldn't pay the rent

more lies from the club

 

[dongonzalos]

She must have been well versed for this cross examination yet it is going horribly wrong. TF may turn it round he is far slicker. It's a great shame ML and JS are not giving evidence