High Court Match Thread (5 Viewers)

[jon92]

Les Reid tweeted something about unregistered players could lead to a bigger point deduction

 

---

[procdoc]

heading back into court now

 

[RPHunt]

No doubt I'll be branded a SISU apologist (which I'm not) but it isn't unusual to see remarks like that made in the decision of a judge/arbitrator/adjudicator.

Often you will have two parties saying completely different things, without written evidence backing up either side, and it will be for the judge to decide, and substantiate with reasons, which party he believes.

I think the language used here was a bit more "robust" than that usually employed on such occasions.

 

[Jack Griffin]

The players emerge from the tunnel after half time, we await the referee who has partaken of a fine claret at luncheon.

 

[Spencer]

I think the language used here was a bit more "robust" than that usually employed on such occasions.

I agree they are robust words, and suggest he thought she was untruthful, but I've seen similarly strong, and
stronger, words used.

You have to remember judges are always aware of a parties right to appeal so have to provide reasons for their decisions.

 

[Joy Division]

I think we can get back in this, just need some early shots to test the opposition.

 

[ccfcway]

I havent a bloody clue whats going on here

I know everyone on here has ben doing an unintentional law degree over the past few years, but a lot of today is bloody confusing !

 

[ccfcway]

David Bell is on the bench, nothing changes there then !

 

[ashbyjan]

Les Reid ‏@Lesreidpolitics 46s
High Court due to re-start 2pm. #ACL applying to judge to dismiss its administration order against #CCFC Ltd. #ACL expects it 2b formality

 

[Jack Griffin]

Same old, same old
http://www.telegraph.co.uk/finance/...te-companies-Finance-at-its-very-highest.html

8 Sisu Capital £17m

Hedge fund Sisu Capital bid for several debt-ridden football clubs, before saving Coventry City FC from administration this year.

The mysterious Mayfair fund, co-founded by traders Joy Seppala and Dermot Coleman, made pre-tax profits of £17m last year, primarily by buying up bad debt.

The fund often resorts to hard-ball courtroom tactics to get what it wants.

Sisu's glamorous Finnish-American chief executive, Ms Seppala, has been described as one of the stock market's boldest traders. Indeed, Sisu means "inner fortitude, strength and guts" in Finnish.

The fund blocked a £381.5m refinancing deal for troubled hotel chain Welcome Break in 2004, securing full pay-outs for creditors.
But Ms Seppala was censured by a High Court judge in 2006 when Sisu's bid for a better deal from debt-ridden power company TXU Europe failed.

 

[chiefdave]

I havent a bloody clue whats going on here

I know everyone on here has ben doing an unintentional law degree over the past few years, but a lot of today is bloody confusing !

not wrong there, I know far more about football finance, company law and administration then I ever wanted to, what happened to just turning up at 3pm on a Saturday afternoon to watch a match?!

 

[CovLis86]

not wrong there, I know far more about football finance, company law and administration then I ever wanted to, what happened to just turning up at 3pm on a Saturday afternoon to watch a match?!

And jumpers for goalposts! *sigh*

 

[procdoc]

adjourned until 3 pm

 

[psgm1]

And jumpers for goalposts! *sigh*

isn't it wasn't it - marvellous!

 

[jon92]

How long does it take to discuss costs

 

[Sub]

ajourned till 3pm now :facepalm:

 

[bamalamafizzfazz]

not wrong there, I know far more about football finance, company law and administration then I ever wanted to, what happened to just turning up at 3pm on a Saturday afternoon to watch a match?!

I thought this was a match thread and 'High Court' was some fancy name for the memorial park. Thought it was strange that we got half way with nobody slagging off McSheffrey yet!

 

[Covstar]

Sick of all these adjournments! Get the verdict done and dusted already!

 

[CovLis86]

Do we know who asked for the adjournment? Who's trying to buy more time here..

 

[coop]

so after all this shit weve lost 10 points and playoff hopes gone.no ground and still owned by sisu?

 

[ccfcway]

so after all this shit weve lost 10 points and playoff hopes gone.no ground and still owned by sisu?

funny, after reading 16 pages, that was pretty much my conclusion as well.

 

[ashbyjan]

BREAKING: Judge Mrs Justice Proudman adjourns hearing till 3pm. Lawyers talking about costs #ACL #CCFC @covtelegraph

Due to other cases over running apparently

 

[thegameaintstraight]

so after all this shit weve lost 10 points and playoff hopes gone.no ground and still owned by sisu?

Probably, but unfortunately it could get worse.

 

[Waldorf]

So let me get this right. The situation as I see it is:
1. CCFC Ltd is in administration
2. According to the Football League (who should know) the "golden share" belongs to CCFC Ltd
3. According to SISU, all other assets (including player registrations) belong to CCFC (Holdings)
4. According to the FL (who should know) player registrations must belong to the same company that has the golden share.
5 Therefore, the "club", apart from its shop stock and its training ground, belongs to a company that is in administration.
6. Such a situation attracts an immediate 10 points penalty.
7. If the FL believe SISU have played fast and loose with the assets of the club (eg moving them around without their agreement) then an as yet unspecified number of points could be deducted on top.
8. ACL have withdrawn their application to put CCFC Ltd into admin., since SISU have already done that.
9. The administrator now controls our club, and
10. Fisher doesn't have a club to be CEO of.

You couldn't make it up!

 

[TheRoyalScam]

As I understand it they're merely discussing court costs.

ACL have asked to withdraw their administration application re CCFC Ltd, because SISU have already put CCFC Ltd into administration themselves.

The key news from my point of view is that the FA and FL Golden Shares are still held by CCFC Ltd, while the players' contracts have been moved (allegedly illegally) to CCFC (HOLDINGS). 'Fit and proper persons'??

I don't think this court has any jurisdiction regarding anything other than the original administration application.

This isn't the end, but it's the beginning of the end.

 

[TheRoyalScam]

Beat me to it, Waldorf

 

[Spencer]

Do we know who asked for the adjournment? Who's trying to buy more time here..

I would guess that the judge is allowing the parties time to agree things between themselves.

 

[ccfcway]

Fisher doesn't have a club to be CEO of.

They will be pulling the strings of the administaror

 

[Brighton Sky Blue]

This is the boardroom equivalent of Capello sending Heskey on against Germany.

 

[Flying Fokker]

We could be relegated this season. -25 pts possible based on some of the telegraph articles. The League may just hit us with it this season. Also -10 when they come out of admin.

 

[procdoc]

SISU are currently defending very deep and using a lot of time wasting tactics to upset the opposition. I hope the ref doesn't fall for their underhand tactics!

 

[Pete in Portugal]

They will be pulling the strings of the administaror

It would appear that all the string pulling is being done by the person who Steven Jennings referred to as 'the Chairwoman'. Just my opinion of course.

 

[procdoc]

We could be relegated this season. -25 pts possible based on some of the telegraph articles. The League may just hit us with it this season. Also -10 when they come out of admin.

so other than not actually having a club the worse case scenario is relegation to league 2 and starting the league 2 campaign on a points deduction? Lots to look forward to then!

 

[Waldorf]

SISU are currently defending very deep and using a lot of time wasting tactics to upset the opposition. I hope the ref doesn't fall for their underhand tactics!

About another hour of additional time, I reckon.

 

[procdoc]

Maybe McSheffrey is behind it all, would explain why he still gets a gig