Judicial review thread - day 2 (1 Viewer)

[ccfcway]

cant you get a cheaper loan than 3.3% from the meercat ?

 

---

[Rob S]

Sounds exciting

It woke a few people up but I think they thought the session was over and were ready to jump up for the judge's exit. 5 mins to go...

 

[Rob S]

again, as I understand it, it maybe a great investment, it maybe the worst ever, does it matter ?

Surely this case is ONLY about if its lawful ?

This.

 

[Grendel]

Sounds like a good investment for CCC, ACL, and city of Coventry...win, win, win.
Oh hold on, who loses out here...SISU - guess they wished they'd played fairly now.

I think its the club losing out. Who cares eh?

 

[martcov]

It's a fucking awful deal and on a company valued at less than half the loan,

The value goes up and down according to who you believe. The figure was considerably more though if CCFC paid rent, hence the pie in the sky stadium to make the value of ACL go down. It will go up as soon as CCFC return as a paying customer ( if they do ).

 

[ccfcway]

It woke a few people up but I think they thought the session was over and were ready to jump up for the judge's exit. 5 mins to go...

time for a last minute winner or own goal

 

[covmark]

It woke a few people up but I think they thought the session was over and were ready to jump up for the judge's exit. 5 mins to go...

I think you'll have to spend the weekend in the pub after the borefest you've had to sit through pal.

 

[Sub]

Now the Council QC says Sisu’s argument is riddled with fallacies.

 

[The Gentleman]

What about ccfc, is it a good deal for us??

This isn't about 'us' and never has been. Greedy hedge fund using us to try and make more money, yes. Council trying to protect an investment, yes. Where CCFC come into this I'm not sure.

 

[TheRoyalScam]

It's a fucking awful deal and on a company valued at less than half the loan,

Yet YB were willing to loan £15.5m at a higher interest rate.......:thinking about:

So if you lent me say £14,400 over 41 years and I paid you £19,500 in interest alone (so a grand total of £34,300) you wouldn't bite my hand off?

 

[ccfcway]

Now the Council QC says Sisu’s argument is riddled with fallacies.

has he held up a pic of our new stadium ?

 

[AFCCOVENTRY]

Now the Council QC says Sisu’s argument is riddled with fallacies.

Or poo

 

[ccfcway]

I think its the club losing out. Who cares eh?

not the judge. He only cares if its lawful or not

 

[martcov]

I think its the club losing out. Who cares eh?

I don't think the club is even being considered here - apart from as an asset or rent paying tenant. Acheiving sporting success as originally planned by the founders is the least important factor in this court room.

 

[Rob S]

time for a last minute winner or own goal

More like Cov v Bristol in '77

 

[shmmeee]

If the Council QC says "three weeks" I'm done.

 

[Danceswithhorses]

What about ccfc, is it a good deal for us??

Yes it should have been good for ccfc aswell, because it allowed ACL to offer a substantially better rent deal to ccfc, which if you remember, SISU turned down.

 

[letsallsingtogether]

Valued by Who?

Was it a bit like when Ford give Jaguar employees £8.00 a share for a struggling company that was making shit cars then closed the local factories making over 2000 redundant. Made a bigger hash of it then sold he lot to a Indian value car maker who in turn made it stronger. Maybe Sisu should sell thier shares to a local conveneance store I'm sure they could make a better go at it.......

It's a fucking awful deal and on a company valued at less than half the loan,

 

[Rob S]

Now the Council QC says Sisu’s argument is riddled with fallacies.

“You mean my entire fallacy is wrong?”

 

[covmark]

Yes it should have been good for ccfc aswell, because it allowed ACL to offer a substantially better rent deal to ccfc, which if you remember, SISU turned down.

Is that the 400k for 3 years and then back to 1.2m. Genuine question, I have cotton wool brain atm.

 

[letsallsingtogether]

Nar he earns that in a week.

Yet YB were willing to loan £15.5m at a higher interest rate.......:thinking about:

So if you lent me say £14,400 over 41 years and I paid you £19,500 in interest alone (so a grand total of £34,300) you wouldn't bite my hand off?

 

[shmmeee]

Is that the 400k for 3 years and then back to 1.2m. Genuine question, I have cotton wool brain atm.

No, that was pre-Loan (I think). The "better" deal was the £150k one (or the rent free one - that's not actually rent free (for Torchy))

 

[Sub]

Court told the lowest £6.4m valuation of ACL’s lease was based on ACL never getting rent from CCFC or any other anchor tenants for the remaining 43 years of ACL’s Ricoh Arena lease

 

[Rob S]

Judge questioning CCC QC on time required. CCC QC waffling but says will finish before lunch (with 9.30 start) then ACL QC.

We may be done mid-afternoon..? Then judge's judging time...

 

[Limey]

My take on things...SISU took too long playing hardball over ricoh value and were subsequently out witted. CCC will happily hold ccfc by the short and curlies to make ACL more profitable.

 

[Deleted member 5849]

Judge questioning CCC QC on time required. CCC QC waffling but says will finish before lunch (with 9.30 start) then ACL QC.

We may be done mid-afternoon..? Then judge's judging time...

Now I'm really confused!

Who's winning the QC count in this case?

 

[AFCCOVENTRY]

@TheSimonGilbert: Council QC says Sisu have taken blinkered approach. Ignored other ACL revenue streams and a potential return to the Ricoh to play in Nham

 

[Sub]

Council QC says Sisu have taken blinkered approach. Ignored other ACL revenue streams and a potential return to the Ricoh to play in Nham

 

[Rob S]

Overall summary...

TBH, it all comes down to how convinced the judge is at the end of submissions. No point in any second guessing or analysis really.

Interesting potential blows landed on both sides but wait until the final call.

No fun things released...

Negotiations to follow...PLEASE!

 

[ccfcway]

Court told the lowest £6.4m valuation of ACL’s lease was based on ACL never getting rent from CCFC or any other anchor tenants for the remaining 43 years of ACL’s Ricoh Arena lease

this bit i dont get, didnt ACL say its turnover was more than ever this year ?

 

[olderskyblue]

What I don't understand (amongst many other things...) is this £400K deal that they now say was agreed. I know there was a £400K deal discussed, and everyone shook hands to say goodbye, but that can't be it surely?

 

[Majik]

again, as I understand it, it maybe a great investment, it maybe the worst ever, does it matter ?

Surely this case is ONLY about if its lawful ?

Don't get me wrong - you're absolutely right, but surely the evidence of it being a sound investment lends weight to whether the public funds were misused? The SISU argument has had elements of "they did it to stop us getting it!" whereas the return on investment gives credence to a wise investment being the reason the deal happened (although the reality of it stopping SISU crippling ACL will surely come into it).

 

[ccfcway]

No fun things released...

but wasnt this done so all the fans could judge once everything was out in the open ?

 

[shmmeee]

this bit i dont get, didnt ACL say its turnover was more than ever this year ?

But did the valuer agree? Several on here didn't when it was predicted.

 

[The Gentleman]

Council QC says Sisu have taken blinkered approach. Ignored other ACL revenue streams and a potential return to the Ricoh to play in Nham

Are we playing in Vietnam now?