up and away Posted 25 June, 2009 Posted 25 June, 2009 Nothing Lynam has ever said indicates that there is any danger of more than the -10. Where do you and adriansfc get this from? Every public statement from Lynam has been about the right to appeal the -10. The -25 conspiracy theory has only appeared on this forum as far as I know. K. Unbelievable! We are in Buster Gonads territory here with the amount of bullocks going about. There will be only be a -10 point deduction if Pinnacle produce a CVA for SLH. If we don't produce a CVA for SLH we will be subjected to further penalties already laid out. The FL have already defined that, Tony has never argued otherwise. There is no way this is being driven by Tony, he would never have the authority to go against the money. So why is the money making such a big issue of this? either trying to back out or stubborn enough not to care, either way it does not bode well the longer it goes on. As it is now possible for any other bidder to plonk down the money for an exclusivity deal, no one serious would allow that position to arise. This looks like a deal fudged together at the last minute with conditions not being able to be kept or someone getting cold feet? Why else would you risk losing everything you have worked so far for? As for all this legal excuses, it's totally ridiculous. We are not even in the FL unless we agree to their conditions, we are perfectly free not to join. If we join this members club we have to abide by their rules. I can see the point that we could argue this in court because the agreement was signed under duress, but what exactly would we get out of it? The FL could actually break up and reform as another members body, where would we be then? We are suffering because we went into administration, something that is totally our fault and as such must pay the consequences of such action. No one can even put up an articulate case that we do not deserve the 10 point deduction, all anyone has put forward are the semantics of the situation, even though we are as guilty as sin. Theoretically we have a strong point, practically and morally we have or do not deserve a cat in hells chance of avoiding the 10 point penalty.
saintjay77 Posted 25 June, 2009 Posted 25 June, 2009 You can bet your bottom dollar that once the league's answer to the legal issue is known, the backer and his legal advisers will look at it and make the decision. which will be to question something else lol
Gemmel Posted 25 June, 2009 Posted 25 June, 2009 If it's illegal let Pinnacle go public. The FL would then have to respond and explain. Or not There's something in what you say, but don't forget this is a guy trying to sign the biggest gig of his personal life, let a lone a whole cities expectations on his shoulders. To come out with a statement that the FL document is illegal, when it has obviously been drafted by their own lawyers is either very clever or desperate. In any event it would all take time, which we don't have. Without funds this week, i would expect the football club to go into administration or liquidation and malwhinney can say he was right all along. Unless TL's backer bites the bullet or a new one comes along. This could be the beginning of the end
saintbletch Posted 25 June, 2009 Posted 25 June, 2009 Surely if SLH get a CVA it's the same as SFC getting a CVA? I don't get why the addition -15 is an issue if the creditors are happy with the deal? If SFC get kicked out the league the players will all walk for nothing SMS becomes a wasteland and the Creditors get next to nothing. My understanding from what I have read on here is that SLH will not exit adminstration with a CVA because it will fold. HOWEVER the conditions to satisfy a CVA (think I saw it was >50% of creditors or debt value paid) will have been met with the deal the administrator is lining up. Therefore SLH won't get a CVA. SFC has never been in adminstration.
hypochondriac Posted 25 June, 2009 Posted 25 June, 2009 That does sound right and the (led to believe) part would almost certainly be begbies traynor telling them. And Mawhinney
SaintBobby Posted 25 June, 2009 Posted 25 June, 2009 Unbelievable! We are in Buster Gonads territory here with the amount of bullocks going about. There will be only be a -10 point deduction if Pinnacle produce a CVA for SLH. If we don't produce a CVA for SLH we will be subjected to further penalties already laid out. The FL have already defined that, Tony has never argued otherwise. There is no way this is being driven by Tony, he would never have the authority to go against the money. So why is the money making such a big issue of this? either trying to back out or stubborn enough not to care, either way it does not bode well the longer it goes on. As it is now possible for any other bidder to plonk down the money for an exclusivity deal, no one serious would allow that position to arise. This looks like a deal fudged together at the last minute with conditions not being able to be kept or someone getting cold feet? Why else would you risk losing everything you have worked so far for? As for all this legal excuses, it's totally ridiculous. We are not even in the FL unless we agree to their conditions, we are perfectly free not to join. If we join this members club we have to abide by their rules. I can see the point that we could argue this in court because the agreement was signed under duress, but what exactly would we get out of it? The FL could actually break up and reform as another members body, where would we be then? We are suffering because we went into administration, something that is totally our fault and as such must pay the consequences of such action. No one can even put up an articulate case that we do not deserve the 10 point deduction, all anyone has put forward are the semantics of the situation, even though we are as guilty as sin. Theoretically we have a strong point, practically and morally we have or do not deserve a cat in hells chance of avoiding the 10 point penalty. The Football League can't run its members' club in breach of the law. It may be doing just that.
ssaints Posted 25 June, 2009 Posted 25 June, 2009 Unbelievable! We are in Buster Gonads territory here with the amount of bullocks going about. There will be only be a -10 point deduction if Pinnacle produce a CVA for SLH. If we don't produce a CVA for SLH we will be subjected to further penalties already laid out. The FL have already defined that, Tony has never argued otherwise. There is no way this is being driven by Tony, he would never have the authority to go against the money. So why is the money making such a big issue of this? either trying to back out or stubborn enough not to care, either way it does not bode well the longer it goes on. As it is now possible for any other bidder to plonk down the money for an exclusivity deal, no one serious would allow that position to arise. This looks like a deal fudged together at the last minute with conditions not being able to be kept or someone getting cold feet? Why else would you risk losing everything you have worked so far for? As for all this legal excuses, it's totally ridiculous. We are not even in the FL unless we agree to their conditions, we are perfectly free not to join. If we join this members club we have to abide by their rules. I can see the point that we could argue this in court because the agreement was signed under duress, but what exactly would we get out of it? The FL could actually break up and reform as another members body, where would we be then? We are suffering because we went into administration, something that is totally our fault and as such must pay the consequences of such action. No one can even put up an articulate case that we do not deserve the 10 point deduction, all anyone has put forward are the semantics of the situation, even though we are as guilty as sin. Theoretically we have a strong point, practically and morally we have or do not deserve a cat in hells chance of avoiding the 10 point penalty. Thank you someone talking sense. We as a club did wrong and should be penalised for it. Otherwise we are as bas as Drogba and the cheats at Chelski
ART Posted 25 June, 2009 Posted 25 June, 2009 Fry has given Pinnacle until 5pm Thursday to finalise. We are no nearer than last Friday, in fact, they are complicating the matter every statement. All Pinnacle are doing is wriggling out of a deal, searching for a way to recuperate their money from the League claiming they were misled and the League have made it impossible for them. Fry will announce at 6pm that he has now given exclusivity to another group and that's the end of Pinnacle. They were and are nothing more than one big fraudster like I posted 2 days ago.
Down and Out Posted 25 June, 2009 Posted 25 June, 2009 I believe the legal bit is to do with the 10 points and the cva requirement how can the FL insist that the club is in admin which is not true under corporate law, and then insist that a document produced under corporate law is produced for the club? SFC have no way of admitting they are in admin and no way of producing a CVA, so by signing away the appeal the FL hope that SFC are admitting to admin and then they can add the extra deduction for not producing CVA. if the appeal is not allowed due to the appeal procedure ie over 7 days since judgement being applied then surely no need for the FL statement, they'd simply reject the appeal on those grounds and not even discuss it?. Well put and in a nutshell "We are stuck between a rock and a hardplace"....or basically "Screwed"!! As has been so eloquently put throughout this thread, there are rules in every aspect of bussiness, you have to bend them to get anywhere.....and unfortunatley you have to also expect the unexpected i.e someone is just waiting to sh#ft you or put you in place you don't want to be!! The FL hold all the cards and it's for Pinnacle to try and get the right hand. This deal is no different from any that take place in the commercial world on a daily basis! Sit back and wait for whatever will happen..especially as we have no control or influence on the matter.
Webby Posted 25 June, 2009 Posted 25 June, 2009 What if the money is very BIG money and knows EXACTLY what he's doing, has top, top lawyers and is fighting for the future of the club he wants to buy? Eh, eh, what if? p.s. go on then, here's me fiver!
Gemmel Posted 25 June, 2009 Posted 25 June, 2009 What if the money is very BIG money and knows EXACTLY what he's doing, has top, top lawyers and is fighting for the future of the club he wants to buy? Eh, eh, what if? p.s. go on then, here's me fiver! Because he can be bumped out now at any time by another bidder paying for exclusivity
Whitey Grandad Posted 25 June, 2009 Posted 25 June, 2009 Didn't Coventry's takeover go right to the wire?
Webby Posted 25 June, 2009 Posted 25 June, 2009 Yes, but surely, he is still a neck in front of any others, no?
kpturner Posted 25 June, 2009 Posted 25 June, 2009 Fry has given Pinnacle until 5pm Thursday to finalise. We are no nearer than last Friday, in fact, they are complicating the matter every statement. All Pinnacle are doing is wriggling out of a deal, searching for a way to recuperate their money from the League claiming they were misled and the League have made it impossible for them. Fry will announce at 6pm that he has now given exclusivity to another group and that's the end of Pinnacle. They were and are nothing more than one big fraudster like I posted 2 days ago.How many fraudsters do you know that commit the alledged fraudulent crime by handing over half a million quid that they may never get back?
OldNick Posted 25 June, 2009 Posted 25 June, 2009 How many fraudsters do you know that commit the alledged fraudulent crime by handing over half a million quid that they may never get back? Very fair. I have gained confidence today strangely enough. Pinnacle must be there oe there abouts, the biggest worry of course is that they have not committed to the wages HMRC and bonuses, that would be the final bit that would say 'we will be doing it'
The9 Posted 25 June, 2009 Posted 25 June, 2009 Looks like we will be kicked out of the FL and be reduced to the Blue Sq. The players are all free agents now that the club has defaulted on their contracts. Pinnacle are not going to win this one and even if they do it will take too long in the courts. The FL are going to dig their heals in. What a total load of ******. Good news for which ever club finished runner-up in league 2 as they will be promoted to league 1. ******. This is crap Well, we won't get in the Blue Sq now anyway, fixtures are released on July 2nd. Its no coincidence that it's a day after players' contracts expire/tick over into the next season. And there aren't any free slots in the Conference anyway - we'd probably have to take a year out at best. The players are not Free Agents until midnight tonight if they're not paid, and even then the non-payment means they merely have the right to issue their two weeks' notice, which they could withdraw - though of course some players' contracts are up within a week anyway. Also, there will be no promotion of another club at this late stage even if we go to the wall, no-one will take our place, but there would only be 3 relegation places in League One this season.
saintjay77 Posted 25 June, 2009 Posted 25 June, 2009 Fry has given Pinnacle until 5pm Thursday to finalise. We are no nearer than last Friday, in fact, they are complicating the matter every statement. All Pinnacle are doing is wriggling out of a deal, searching for a way to recuperate their money from the League claiming they were misled and the League have made it impossible for them. Fry will announce at 6pm that he has now given exclusivity to another group and that's the end of Pinnacle. They were and are nothing more than one big fraudster like I posted 2 days ago. Thanks for highlighting those bits in Bold. It really makes sence now
The9 Posted 25 June, 2009 Posted 25 June, 2009 Thank you someone talking sense. We as a club did wrong and should be penalised for it. Otherwise we are as bas as Drogba and the cheats at Chelski If it was about "fairness" then the League would come to a compromise. It is not about fairness, it's about legality, and the League trying to cover their ar5es for leaving a gaping hole in the Administration ruling logic. The person talking sense here is ringwood, in stating, how can the FL insist that the club is in admin which is not true under corporate law, and then insist that a document produced under corporate law is produced for the club? The FL aren't interested in the moral rectitude, they're interested in claiming their rules are watertight and stopping others trying to exploit them. A compromise in which we accept -10 and no appeal and they agree we won't require a CVA is the only way out. Otherwise we're gone, and no amount of Photocopier Man Bluster will sign for a takeover knowing we're almost certainly going to end up with another -15 for not providing a CVA (when we can't) and are fooooooked before they even start.
OldNick Posted 25 June, 2009 Posted 25 June, 2009 Fry has given Pinnacle until 5pm Thursday to finalise. We are no nearer than last Friday, in fact, they are complicating the matter every statement. All Pinnacle are doing is wriggling out of a deal, searching for a way to recuperate their money from the League claiming they were misled and the League have made it impossible for them. Fry will announce at 6pm that he has now given exclusivity to another group and that's the end of Pinnacle. They were and are nothing more than one big fraudster like I posted 2 days ago. Art is that fact or just a guess?
Cabrone Posted 25 June, 2009 Posted 25 June, 2009 Meanwhile a certain duck shooting ex chairman is quietly chuckling to himself. If this club traded as itself like most others do then this would be a straightforward -10 and Pinnacle would know exactly where they stood. Instead we have yet another L**e inspired mess that this time might just finish us off. Hope you're happy L**e.
up and away Posted 25 June, 2009 Posted 25 June, 2009 Fry has given Pinnacle until 5pm Thursday to finalise. We are no nearer than last Friday, in fact, they are complicating the matter every statement. All Pinnacle are doing is wriggling out of a deal, searching for a way to recuperate their money from the League claiming they were misled and the League have made it impossible for them. Fry will announce at 6pm that he has now given exclusivity to another group and that's the end of Pinnacle. They were and are nothing more than one big fraudster like I posted 2 days ago. Exactly, but it does appear Fry may have ****ed up here. In forwarding the position that what the FL was doing to be wrong, there could be grounds for Pinnacle to walk away with their exclusivity payment, though I would have doubted that for someone experienced. I don't for one minute believe that Tony is any form of a fraud, but things can get out of hand when cobbled together at the last minute. The fact we have now arrived at this position does show the seriousness of the position and Pinnacle prepared to walk away for what ever reason. The Football League can't run its members' club in breach of the law. It may be doing just that. Where are the FL running anything in breach of the law, this is an absolute fallacy. There is only one possibility and that would be a forced agreement based upon duress. To fight that case you would first have to join the FL then go to court. You have now committed all the funds to SFC and what can you possibly gain or lose? There is no way a court will rule against the 10 point penalty and you now have the possibility of being thrown out of the FL for taking such action or costs for both parties. Why would anyone in their right minds take such a risk?
um pahars Posted 25 June, 2009 Posted 25 June, 2009 A compromise in which we accept -10 and no appeal and they agree we won't require a CVA is the only way out. I tend to agree. My only concern is that the League's position might be they'll only compromise at -10+ to -30 (throwing the CVA hit in as well)!!!!!! I also wonder what the member club's views would be if they were asked tgo vote on us only taking a -10 hit??? But the best we can hope from the League is for them to agree at -10, so if they're offering us that then we should be signing on the dotted line. On a couple of other points, the League are not doing anything illegal here, so some postings on this subject are irrelevant. Additionally, the idea that we could sign and then claim duress at a later stage has already been shown with the Leeds precedent to be a non starter.
JustMike Posted 25 June, 2009 Posted 25 June, 2009 Fry has given Pinnacle until 5pm Thursday to finalise. We are no nearer than last Friday, in fact, they are complicating the matter every statement. All Pinnacle are doing is wriggling out of a deal, searching for a way to recuperate their money from the League claiming they were misled and the League have made it impossible for them. Fry will announce at 6pm that he has now given exclusivity to another group and that's the end of Pinnacle. They were and are nothing more than one big fraudster like I posted 2 days ago. all in your opinion. I dont know of any fraudsters that would hand over £500,000 + only then not to make anything on it. Nor would they goto this much effort. I would also have put every other word in bold to attention seek but i couldnt be bothered!
saintjay77 Posted 25 June, 2009 Posted 25 June, 2009 If it was about "fairness" then the League would come to a compromise. It is not about fairness, it's about legality, and the League trying to cover their ar5es for leaving a gaping hole in the Administration ruling logic. The person talking sense here is ringwood, in stating, how can the FL insist that the club is in admin which is not true under corporate law, and then insist that a document produced under corporate law is produced for the club? The FL aren't interested in the moral rectitude, they're interested in claiming their rules are watertight and stopping others trying to exploit them. A compromise in which we accept -10 and no appeal and they agree we won't require a CVA is the only way out. Otherwise we're gone, and no amount of Photocopier Man Bluster will sign for a takeover knowing we're almost certainly going to end up with another -15 for not providing a CVA when we can't) and are fooooooked before they even start. Surly no-one in the right mind would pay 15 mill for a club that is almost certainly heading for league 2 via the -25 points deduction? The way I see it, if the league dont bend or alter the rules a little to let us get away with nothing more than the -10 points and admitting we were technically not in admin then Southampton FC is toast. Thinking about it I reaskon there will be a few companies lining up to take legal action against the league should we fold completly. Aviva for the mortage on a stadium that is out of use? SFC for being forced out of business? Barcleys may even have a pop as without a buyer the overdraft and any loan agreements are up the wall. There maybe a few other smaller business' that are dependant on the income from SFC and they may even have a case or at least add weight to the case of some of the bigger boys. I doubt all will be keen to right it all off as a silly mistake thats for sure.
CanadaSaint Posted 25 June, 2009 Posted 25 June, 2009 A compromise in which we accept -10 and no appeal and they agree we won't require a CVA is the only way out. I tend to agree with that as well. The "no appeal" component is probably a reflection of the fact that every crash seems to be different, and the FL therefore has to be flexible in resolving them. However, they don't want to be haunted by the precedents they set. The trade off suggested by The9 would resolve this one and allow Pinnacle to start running the club right away, but - with the wages not yet paid - I figure that Pinnacle and the FL have less than two hours to do that deal.
chrismsaint Posted 25 June, 2009 Posted 25 June, 2009 Latest - Staff at St Marys in meeting now regarding wages ... announcement soon ?
VectisSaint Posted 25 June, 2009 Posted 25 June, 2009 I'm not buying this illegality thing. In essence the Football League is a private members club. Whether we like it or not they can make up their rules as they go along. In general this is true, rules of a Member Club can say anything they want if agreed by the members, with one exception. That is if the rules require members to break the law. So everything to do with points deductions is perfectly legitimate, but if they say a member must avoid paying tax or will only be accepted if they promise to take drugs, for example, then that is technically illegal. There must be something in the contract that the FL is insisting on us signing that Pinnacle lawyers or our creditors are seeing as a requirement to break the law, either commercial or criminal - but then of course it becomes a matter of interpretation and presumably the FL lawyers see things differently. This is why it is taking time to resolve, anything involving lawyers takes time as they have to be seen to be providing best advice (aka making as much money) as possible.
Burger Posted 25 June, 2009 Posted 25 June, 2009 I tend to agree with that as well. The "no appeal" component is probably a reflection of the fact that every crash seems to be different, and the FL therefore has to be flexible in resolving them. However, they don't want to be haunted by the precedents they set. The trade off suggested by The9 would resolve this one and allow Pinnacle to start running the club right away, but - with the wages not yet paid - I figure that Pinnacle and the FL have less than two hours to do that deal. Unfortunately there is no indication anywhere that the FL want to compromise. The backer of Pinnacle appears to have a decision to make. Either pay £15m and take whatever punishment the FL want to give or see the end of SFC.
JustMike Posted 25 June, 2009 Posted 25 June, 2009 Latest - Staff at St Marys in meeting now regarding wages ... announcement soon ? source?
ottery st mary Posted 25 June, 2009 Posted 25 June, 2009 source? I am sure it should be Sawce:rolleyes:
JustMike Posted 25 June, 2009 Posted 25 June, 2009 Jack daniels honey smoked barbecue nandos piri piri
Gemmel Posted 25 June, 2009 Posted 25 June, 2009 On a couple of other points, the League are not doing anything illegal here, so some postings on this subject are irrelevant. Um, Lynam went on Sky today and stated " The document that the footballl league have presented me to sign is illegal" I'm not saying you are wrong but that's Lynams take on it.
CanadaSaint Posted 25 June, 2009 Posted 25 June, 2009 Unfortunately there is no indication anywhere that the FL want to compromise. The backer of Pinnacle appears to have a decision to make. Either pay £15m and take whatever punishment the FL want to give or see the end of SFC. The FL is very good at "not blinking" (that skill normally accompanies arrogance) but I'd be surprised if they didn't have legal advice telling them that they could be successfully sued if the Pinnacle bid fails. The plaintiffs (people who have lost out financially in this sh*t show) could go far beyond Pinnacle. So the FL does have to blink at some point. That compromise would be a good opportunity.
mattyd Posted 25 June, 2009 Posted 25 June, 2009 People having a go at pinnacle are really missing the point. This issue will affect anyone wanting to buy the club. If they don't accept -25 points then nothing can be signed. The FL are clearly happy to put a football club out of business to try and cover up their own incompetence. Other clubs might be bitter about us trying to get away without deductions, but there's a far more important issue and that's the way the FL is treating its members and harming the game. Where has the -25 points come from? Is there points deflation going on? The other posts are right, time for Pinnacle to sign or go!
Smirking_Saint Posted 25 June, 2009 Posted 25 June, 2009 nandos piri piri I see your Piri Piri and will raise you...... Levi Root's Reggae reggae sauce
Smirking_Saint Posted 25 June, 2009 Posted 25 June, 2009 Where has the -25 points come from? Is there points deflation going on? The other posts are right, time for Pinnacle to sign or go! We have -10, if we come outta admin with no CVA that will be a further -15 i believe :confused:
itchen Posted 25 June, 2009 Posted 25 June, 2009 Art is that fact or just a guess? It's a fact that he posted it two days ago.
JustMike Posted 25 June, 2009 Posted 25 June, 2009 I see your Piri Piri and will raise you...... Levi Root's Reggae reggae sauce ooo good call. We have a winner ;-)
Smirking_Saint Posted 25 June, 2009 Posted 25 June, 2009 The FL is very good at "not blinking" (that skill normally accompanies arrogance) but I'd be surprised if they didn't have legal advice telling them that they could be successfully sued if the Pinnacle bid fails. The plaintiffs (people who have lost out financially in this sh*t show) could go far beyond Pinnacle. So the FL does have to blink at some point. That compromise would be a good opportunity. True.... however they know that the state of southampton football club is dire ATM. As far as they can see pinnacle either put up or shut up and risk the club going under.... thus proving teh FL right about SLH bla bla bla. Or wait for someone else to sign exclusivity... which won't be long if Fry's bottom begins twitching.
Ken Tone Posted 25 June, 2009 Posted 25 June, 2009 . A compromise in which we accept -10 and no appeal and they agree we won't require a CVA is the only way out. . Everything I've seen, read or heard suggests that this is exactly what has been available since wednesday of last week, but that pinnacle won't accept that. Unless someone definite happens very soon, I'd conclude that the money man doesn't want to buy us with the -10 and all the fuss at the moment is designed either to railroad the FL into removing the penalty or give him a good chance to recoup his non-returnable deposit if he backs out, via the courts. K.
Smirking_Saint Posted 25 June, 2009 Posted 25 June, 2009 ooo good call. We have a winner ;-) A thank you. I would like to accept this special sawce award on behalf of heinze, Levi Roots and the wonderful Jack daniels. This is an award i have been waiting for, for a long time now. Oh.... they switched the lights off
CanadaSaint Posted 25 June, 2009 Posted 25 June, 2009 Everything I've seen, read or heard suggests that this is exactly what has been available since wednesday of last week, but that pinnacle won't accept that. Ken, where have you seen, read or heard that? What I've been reading is that the fear of further penalties is what's been holding this up.
Ken Tone Posted 25 June, 2009 Posted 25 June, 2009 Ken, where have you seen, read or heard that? What I've been reading is that the fear of further penalties is what's been holding this up. Where have you read anything about further penalties except in third party speculation, mostly on here? Read Lynam's own statements on here and listen to what he says on SSN and the Echo web site. He says it is about the removal of the right to appeal the 10 point penalty, and that this appeared in the FL contract last wednesday ..and that resolving this is the only problem. Nothing has changed since as far as I can see. All we've had is a stand off between pinnacle and the FL. K.
CanadaSaint Posted 25 June, 2009 Posted 25 June, 2009 Fair comment. It's easy to fall for the uninformed and often wild speculation on here, and to end up accepting it as fact. Time will tell, but there's not much of it left.
Junior Mullet Posted 25 June, 2009 Posted 25 June, 2009 Here's a slight slant for you that as a lawyer has been going through my mind for a while now....... Suppose the FL were wrong to deduct the 10 points because it was the PLC not the club that went into admin, we should not have to reapply for this football licence that is holding things up, therefore we would not have to agree to the FL's demand that waive the right to appeal their decision. The whole thing becomes circular, because we would be claiming that our registration should never have been cancelled because the club was never in admin. I have a funny feeling that this is the line being pursued by Pinnacle at the moment.....
charliemiller Posted 25 June, 2009 Posted 25 June, 2009 Seems like Pinnacle have a press release or statement every five hours Including after midnight.... The one at 5.15 on SSN could be interesting . IMHO
PokingFun Posted 25 June, 2009 Posted 25 June, 2009 I believe he was refering thos this 'Not allowed to appeal' clause on the contract as to being the thing illiegal, so not really anything we didn't know about. No the clause was actually agreeing that the Football Club itself had been placed into Admin when it clearly has not been at any stage of proceedings. It is this element that TL has stated is illegal. Yes, SLH is in admin, and the finances may be intrinsically linked to SFC, but legally the football club is not in administration and it is this element of the conditions that Pinnacle seem to be objecting to. Whether there are any other implications other than the -10 points by accepting that SFC was in administration is anyone's guess, as I have no idea whether that agreement might impact on future risk for the football club.
Saint_John Posted 25 June, 2009 Posted 25 June, 2009 ....In essence the Football League is a private members club. Whether we like it or not they can make up their rules as they go along. And there was me thinking they were a Limited Company registered at company house as :- "Football League Limited(The)" - company number 00080612 http://wck2.companieshouse.gov.uk/a53ed5e3514d9856c8dda5c1634db2f5/compdetails and subject to English Law. If they refuse a licence I would be nice to see whether company 00080612 has enough money to escape Admin itself following any legal action that will result.
OldNick Posted 25 June, 2009 Posted 25 June, 2009 Seems like Pinnacle have a press release or statement every five hours Including after midnight.... The one at 5.15 on SSN could be interesting . IMHOcan you give us any clues CM?
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now