Judicial review day 3 - judgement day (11 Viewers)

[shmmeee]

So, if the FA paid the escrow, and Robinson/McGinnity paid the £300k (was that it?), and the £590k from Otium is still outstanding, have Sisu actually paid any money to the other side at all since admin? Obviously the administrator did the deal for the last few games, but other than that?

 

---

[Jack Griffin]

Simon Gilbert @TheSimonGilbert · 55s

Judge clarifies state aid is about creating distortions in the market. Also says councillors allowed to consider policy in loan decision

Keith Perry (CT)

Judge: “Council had a commercial interest in the ACL that they may have wished to protect.”

Sisu QC arguing as to the value of ACL.

These comments look positive for council IMHO, if I'm right he is saying CCC did not create a distortion but acted to protect a business that already existed.

 

[mattylad]

These comments look positive for council IMHO, if I'm right he is saying CCC did not create a distortion but acted to protect a business that already existed.

Yes only one way this is going, but then there always was only one way this was going. My fear is what SISU do following this defeat.

 

[Danceswithhorses]

@TheSimonGilbert: Sisu QC says council loan to ACL was the worst of four available options.

......for SISU

 

[AFCCOVENTRY]

@TheSimonGilbert: Sisu QC says loan deal did not unlock rent talks, as council suggested it could, but sabotaged them.

 

[AFCCOVENTRY]

@TheSimonGilbert: Sisu QC says loan deal did not unlock rent talks, as council suggested it could, but sabotaged them.

Sabotage! Lol...too much bluster today...

Sabotage is sisu trying to withhold rent and distress a company.

Oh hang on...

 

[Jack Griffin]

@TheSimonGilbert: Sisu QC says loan deal did not unlock rent talks, as council suggested it could, but sabotaged them.

But Les Reid (no less) said discussions continued after the loan... Jan 17, 2013
http://www.thefreelibrary.com/LET'S+TALK,+SAY+SKY+BLUES+AFTER+RICOH+RESCUE.-a0315129200

In a written statement yesterday afternoon, the Sky Blues and hedge fund owners Sisu indicated they are willing to negotiate a deal on rent to the stadium company - after withholding PS1.1 million rent which prompted Tuesday's Coventry City Council bail-out.

 

[AFCCOVENTRY]

Meanwhile Pressley has resigned as manager and sky blue sam has been transferred to Aston Villa...

Sorry....a bit of bluster

 

[Rob S]

Haha! One of Sisu legal team passes not to QC and nearly goes arse over tit over one of the many boxes of documents

 

[TheRoyalScam]

Wonder what Piss Dealer makes of today's proceedings

 

[Warwickhunt]

Isn't it that the original money was paid to the FA as a 3rd party?

The Money in the Escrow account was paid by the Club Owners, the Escrow account is managed by a 3rd Party who will release the funds on proof of the need for it. The money whilst in the escrow account belongs to the Owners of the Club

 

[Deleted member 5849]

What? The cold souless arena that has no atmosphere and is a not a good ground? That Ricoh Arena? Surely not.

It can be all that, but still the best option available to us...

 

[wes_cov]

......for SISU

too slow #199

 

[TheRoyalScam]

The Money in the Escrow account was paid by the Club Owners, the Escrow account is managed by a 3rd Party who will release the funds on proof of the need for it. The money whilst in the escrow account belongs to the Owners of the Club

It wasn't paid by the 'Club Owners'.

 

[wes_cov]

Haha! One of Sisu legal team passes not to QC and nearly goes arse over tit over one of the many boxes of documents

DIVE....

Send him off send him off

 

[shmmeee]

That would make sense. The escrow was held by the FA. Funny way of putting it, but I guess they are lawyers.

 

[Jim]

@TheSimonGilbert: Sisu QC says loan deal did not unlock rent talks, as council suggested it could, but sabotaged them.

He's really talking rubbish now. Already been shown council documents mentioning improved ability to negotiate rent due to loan deal, and that Joy has so far been the only one to sabotage anything.....

 

[fernandopartridge]

The Money in the Escrow account was paid by the Club Owners, the Escrow account is managed by a 3rd Party who will release the funds on proof of the need for it. The money whilst in the escrow account belongs to the Owners of the Club

Ah so it wasn't funded by the FA at all.

 

[duffer]

I've given Garlick some stick, but to be fair.

That's how you handle getting photographed going into court. She should offer joy her PR coaching services.

I'm thinking that's a 'library' photo. Surely there are no trees in Birmingham?

Regardless, I don't really care what JS looks like... honest.

 

[shmmeee]

Ah so it wasn't funded by the FA at all.

Would've been funded by the club when they moved the Ricoh I assume, just held by the FA.

 

[AFCCOVENTRY]

I'm thinking that's a 'library' photo. Surely there are no trees in Birmingham?

Regardless, I don't really care what JS looks like... honest.

She is Seppala's lover

 

[Rob S]

Bloody hell. An actual journalist has entered the room in the form of one Les Reid. Next in Shergar and Lord Lucan?

 

[AFCCOVENTRY]

@TheSimonGilbert: Sisu QC going through communications between bank and ACL as seeks to show loan restructure with bank was a possibility for ACL.

 

[AFCCOVENTRY]

Bloody hell. An actual journalist has entered the room in the form of one Les Reid. Next in Shergar and Lord Lucan?

Is he about release an exclusive in court?

 

[AFCCOVENTRY]

@TheSimonGilbert: Sisu QC going through communications between bank and ACL as seeks to show loan restructure with bank was a possibility for ACL.

Why the hell is he sisu qc going over stuff the judge chucked out yesterday?

 

[AJB1983]

Bloody hell. An actual journalist has entered the room in the form of one Les Reid. Next in Shergar and Lord Lucan?

Be interesting to see who he is talking to/having a drink with afterwards...

 

[AJB1983]

The fact that the sisu qc keeps saying about alternative options to the council just shows what this is about. Sisu are pissed off council took on the debt as it meant they couldn't get hold of the arena because council wouldn't sell to them and they burnt bridges with Higgs charity

 

[Danceswithhorses]

too slow #199

Story of my life lol

 

[Rob S]

Be interesting to see who he is talking to/having a drink with afterwards...

We'll see soon as lunch is due and I can ask his intentions. Peter K-H will be pleased to see that I pulled my bag off the seat next to me so he could sit down

 

[RegTheDonk]

Bloody hell. An actual journalist has entered the room in the form of one Les Reid. Next in Shergar and Lord Lucan?

Ha! Is he giving Simon the Robert Deniro eyes and 2 fingers?

 

[wes_cov]

We'll see soon as lunch is due and I can ask his intentions. Peter K-H will be pleased to see that I pulled my bag off the seat next to me so he could sit down

More importantly did you bring snacks today?

 

[AFCCOVENTRY]

Acl did a deal with the council and not Yorkshire bank and not even sisu!

I don't see Yorkshire bank taking acl to court because they lost out on some business...

 

[AFCCOVENTRY]

New book out soon...

101 way NOT to get hold of a stadium operating company.

 

[Sky Blue Dal]

Quote-: Sisu QC says European Commission should have been notified.

This I feel is what is going to be the Achilles' heel for the CCC.

If CCC did not notify the European commission regarding the State Aid (if it is classed as one) then they have been very amateurish and stupid.

I do fear this is what the CCC downfall will be.

 

[shmmeee]

Anyone else getting Higgs case vibes here?

Still thinking some kind of draw: decision contravenes state aid but no damages kinda thing. The more I hear, the more it seems like some corners were cut in a panic, but a panic induced by Sisu and done with legitimate aims. Not all procedure was followed, but the council was allowed to take the decision they did kind of thing. As always, no idea if this is a possible outcome.