Bill Power court case

[Bogus Dave]

Not if he hasnt lost he wont do

[jonny72]

Not if he hasnt lost he wont do

Its not that simple, winning a case doesn't necessarily mean the other side has to pay all or even part of your costs. Comes down to what the judge decides based on things like who was at fault, whether there was a strong basis for the case, the amount of costs incurred, whether the parties tried to settle before court and so on.

[swindon-chap]

Does Fitton still have to pay for the court costs?

The general rule is 'Loser pays winners costs', so i presume Power and the others will have to pay for Fitton's costs. Unless the Judge ruled that they don't have to, which is pretty unlikely.

[flammableBen]

Good news for the club ... I would have sympathy with Power and Emmell but in all honestly they should have realised they were trying to get the money back from the wrong people ...

If it worked like that than yeah, but I suspect you knew it wasn't a choice of going for the money from the club and are just on the wind up.

[Arriba]

people were prepared to protest for power to gain control of the club.now many are glad he's lost a case against it.
how things change.....
where's me orange hat gone?

[Phil_S]

Whilst it's good (& Welcome) news for the club & the new board, I can't help feeling that justice has not been done.
As Samdy says if it wasn't a loan it was shares. ie Bill P had a "share" of the holding company which sold off it's only asset (the Club).
The way I see it then, if the holding Co sold said asset for say £2,000,000 that money goes into the holding Co. Then I assume the holding Co paid off any debts it must have had & went into admin.
The only LEGAL sticking point I would imagine is if dividends were paid to the mjority shareholder, but no others. eg If Bill is supposed to own 25% of shares (lets say), then his share would be £500,000, but I guess they never took any dividends out so all of the money was used to pay off  debts of the holding comapny (which were probably loans made to the Holding Co by SSW himself).
Typical Diamandis trickery, & I still loathe hiom with a passion & am just glad that he is gone from STFC

[Nemo]

Arriba, people want the best for the club. Power taking over from Wills and co would have been good for the club. The club having to pursue said former owners for £1m or more would not be in the club's best interests. A lot of people have expressed sympathy for Power alongside relief for the club.

That said, I'd be suprised if this was the end of it.

[Phil_S]

people were prepared to protest for power to gain control of the club.now many are glad he's lost a case against it.
how things change.....
where's me orange hat gone?

I still have mine....... & my opinions have not changed. In terms of the club we support today it's good news. However I feel sickened about the immorality of the whole thing. How ever you look at it a guy who was willing & did put his money on the line to save the club has basically been stitched up.
Whilst I support AF & co & always have, if they hadn't come in when they did Bill P would have been our only hope. I for one will never forget that.
He may have lost the case, but that doesn't mean ihe was in the wrong.

[dell boy]

Gobsmacked with that result, thought Power was a 1/10 on favourite to win his case.

Good news for us of course.

Dont think this will be the end of the matter for Power, I'm sure he will now go after those he should have gone after in the first place. Are you sitting comfortably Sir Seaton?

[Arriba]

I still have mine....... & my opinions have not changed. In terms of the club we support today it's good news. However I feel sickened about the immorality of the whole thing. How ever you look at it a guy who was willing & did put his money on the line to save the club has basically been stitched up.
Whilst I support AF & co & always have, if they hadn't come in when they did Bill P would have been our only hope. I for one will never forget that.
He may have lost the case, but that doesn't mean ihe was in the wrong.

i agree with you.exept the jury is still out for me regarding fitton and co.

[Phil_S]

Gobsmacked with that result, thought Power was a 1/10 on favourite to win his case.

Good news for us of course.

Dont think this will be the end of the matter for Power, I'm sure he will now go after those he should have gone after in the first place. Are you sitting comfortably Sir Seaton?

Dell, I hope he does, but for the reasons I posted above, I doubt he could suceed now. The way I see it Diamandis has managed to take him for £1,000,000 plus to pay off (some of the) debts of the holding company which were probably secured on the Wills estates. (If that is not the case where did the purchase price of the club go?)

[pauld]

Dont think this will be the end of the matter for Power, I'm sure he will now go after those he should have gone after in the first place. Are you sitting comfortably Sir Seaton?

In fairness Dell Bill and Phil did go after them in the first place until as Rob T points out, they tried to duck the bullet by "folding the holding", knowing full well that would force the legal case on to the club. But I'd agree I hope there's some way that those actually responsible for this mess can be made to pay. Nice to see Diamandis fucked off to Cyprus rather than face the music in court and so left the Wills carrying the whole can - speaks volumes for the backbone of the man

[Phil_S]

i agree with you.exept the jury is still out for me regarding fitton and co.

They convinced me early on, but I must admit at the time anything was better than what we had, which was only slightly worse than the BEST holdings stitch up.

[Arriba]

i cannot help thinking that had fitton not come on the scene,eventually the previous board would have had to hand the club over to bill power.
 i would take power over fitton given a choice.

[Simon Pieman]

Did he actually pay for the club, or just take on the debt? I can't remember.

Good point, Fitton said at the AGM £1 nominal fee + all debts taken on.