wafw1971
New Member
I am really concerned that Sisu will still be the owners of CCFC come August.
I have been reading the statement again from last night and something that has me concerned is this
'Also, Holdings believe they have a beneficial ownership of the Share given the level of investment they have made and the fact the players contracts are in their name, together with many other important elements.
This has seemingly been endorsed by the Football League who have completed all current player registrations in the name of Holdings'
This is what the definition of 'beneficial ownership' from HMRC website
IHTM04441 – Legal background: the concept of beneficial ownership (England, Wales & Northern Ireland)
The concept of beneficial ownership, as distinguished from strict legal ownership is fundamental in English law and its origins lie in medieval times, when an injured party could only obtain redress if their complaint came within the scope of an existing writ. Such writs were often very limited and inflexible and did not always provide a remedy. In such cases petitions could be addressed to the Chancellor, complaining that the particular circumstances fell outside of the ordinary mechanism, and another way was sought. The Chancellor would then attempt to give (or withhold) relief to the petitioner according to his own sense of right or wrong. These decisions eventually developed into a body of law known as equity, distinct from the existing common law.
From this arose the distinction between equitable and legal ownership, where equity would allow the use and benefit of property, usually land, to be held separately from the legal ownership. In those times for instance, it might be that land was given to A on his undertaking to hold it for the use and benefit of B, whilst B was, say, away on a crusade. The common law did not recognise any relationship between A & B and thus gave B no protection. In these circumstances the Chancellor would interfere to compel A to hold the land for the exclusive use of B. Whilst he could not say that B was the owner, A was, all the benefit of the land was given to B, with A simply remaining the owner of the legal title.
The inheritance tax charge is concerned with the property to which a person is beneficially entitled. In English law, this includes property which a person owns either legally or beneficially. In Scots law, it is only property that a person owns legally.
Can someone explain what that means in plain English please
And can someone explain to me if "CCFC Holdings" own the intellectual properties of Coventry City FC, CCFC, The Sky Blues etc and own Ryton, all the Players, all the Staff, Kits, Balls etc how is the new owner of CCFC Ltd supposed to operate.
I have been reading the statement again from last night and something that has me concerned is this
'Also, Holdings believe they have a beneficial ownership of the Share given the level of investment they have made and the fact the players contracts are in their name, together with many other important elements.
This has seemingly been endorsed by the Football League who have completed all current player registrations in the name of Holdings'
This is what the definition of 'beneficial ownership' from HMRC website
IHTM04441 – Legal background: the concept of beneficial ownership (England, Wales & Northern Ireland)
The concept of beneficial ownership, as distinguished from strict legal ownership is fundamental in English law and its origins lie in medieval times, when an injured party could only obtain redress if their complaint came within the scope of an existing writ. Such writs were often very limited and inflexible and did not always provide a remedy. In such cases petitions could be addressed to the Chancellor, complaining that the particular circumstances fell outside of the ordinary mechanism, and another way was sought. The Chancellor would then attempt to give (or withhold) relief to the petitioner according to his own sense of right or wrong. These decisions eventually developed into a body of law known as equity, distinct from the existing common law.
From this arose the distinction between equitable and legal ownership, where equity would allow the use and benefit of property, usually land, to be held separately from the legal ownership. In those times for instance, it might be that land was given to A on his undertaking to hold it for the use and benefit of B, whilst B was, say, away on a crusade. The common law did not recognise any relationship between A & B and thus gave B no protection. In these circumstances the Chancellor would interfere to compel A to hold the land for the exclusive use of B. Whilst he could not say that B was the owner, A was, all the benefit of the land was given to B, with A simply remaining the owner of the legal title.
The inheritance tax charge is concerned with the property to which a person is beneficially entitled. In English law, this includes property which a person owns either legally or beneficially. In Scots law, it is only property that a person owns legally.
Can someone explain what that means in plain English please
And can someone explain to me if "CCFC Holdings" own the intellectual properties of Coventry City FC, CCFC, The Sky Blues etc and own Ryton, all the Players, all the Staff, Kits, Balls etc how is the new owner of CCFC Ltd supposed to operate.
