Lee Power

[stfcjack]

I’m so fucked off

[Nemo]

Being a football club is irrelevant to the courts though, this a bog standard business case to them.

Sure, but in an ownership dispute you'd expect some kind of limitations on the actions that the party running the business could take whilst awaiting trial which would affect the future value of the business? Even if we were a furniture shop, you'd hope the current owner would be expected not to commit the firm to a 100-year lease for a building we'll call at random Taylor Curran House before the trial concluded?

Eh, I'm going to try and tune out of all this for a while. It's not good for anyone, there's shit all we can do about it (with the possible and limited exception of the Trust). Roll on the Euros.

[Batch]

So, what’s the June hearing going to solve that this one hasn’t - and the one previous to that.

it gives an opportunity to force a sale if power is putting the club on course for ruin.

I don't think that's likely

it will set full trial date.

he gave a list of 5 or 6 things but I didn't write them down properly... sorry

[horlock07]

it gives an opportunity to force a sale if power is putting the club on course for ruin.

I don't think that's likely

it will set full trial date.

he gave a list of 5 or 6 things but I didn't write them down properly... sorry

I assume it will just be another directions hearing so an update on any progress made plus to set out what needs to be provided/exchanged before the full hearing. I know its no use to us but this is actually going quite quickly for our creaking and grossly underfunded courts.

Sadly things have been allowed to get to the stage where people thought there would be an outcome today, its got time to run yet.

For those who sat through it, did it appear any progress was actually being made between the parties in terms of sorting it between themselves?

[Batch]

nope. I missed a fair amount but didn't detect a resolution was coming

I think powers brief basically said he didn't trust Clem when staying the reasons he wouldn't sell.

the judge said it was 'less than convincing'. Not that it madea difference.

[Tails]

Being a football club is irrelevant to the courts though, this a bog standard business case to them.

I don't think that's strictly true given that in a 'standard' business case the trial wouldn't be for another year. It was mentioned several times how the club is a community asset and how any form of insolvency is not ideal at all for anyone.

[JBZ]

I've not seen suggestions beyond individual fans on social media that it was going to be?

Looking at the posts on this thread, many were under the impression that today was akin to d-day.

[Costanza]

I am no expert but having sat through the last two of these sessions, I would say that Judge Thompsell is slowly but surely edging towards forcing Power to sell to Axis.

However, in terms of the football side of things, we could really feel the impact of the legal timeframes even if the trial started in September 2021 instead of June 2022 and if Axis come out of this victorious.

Enjoy the distraction of pints inside of pubs, Euro 2020+1 and cricket.

[Tails]

So, if Clem/Standing say bollocks to continue funding the club but don’t give up on the ownership wrangle, and Power says he can’t fund it, Admin seems the only answer - just what Power wants.

Well there's an injunction out to prevent that so I would say no. It was pretty clear that Standing / Morfuni and their representatives + the judge dude (his official term) were of the opinion that administration doesn't work for anyone. Not that it's off the table, but it's being discussed very much as a last ditch thing.

Come September the court may have the power to force a sale to Axis.

[Bogus Dave]

Today and now the day in June are just fancy legal catch ups aren’t they??

What you’d call a ‘keep in touch’ in a office parlance

[stfcjack]

Does anyone know why the Eady trust could be giving up to £3m to Axis in the event of a sale?

[Costanza]

Today and now the day in June are just fancy legal catch ups aren’t they??

What you’d call a ‘keep in touch’ in a office parlance

In the hope that parties resovle their issues and get a sale done beforehand.

I do think this particular hearing was 'mis-sold' to the fans somewhat perhaps that was in terms of a best case scenario. It was very clear within minutes of the hearing starting today that there wouldn't be a definitive decision today.

[Flashheart]

So, if Clem/Standing say bollocks to continue funding the club but don’t give up on the ownership wrangle, and Power says he can’t fund it, Admin seems the only answer - just what Power wants.

You keep on saying this, but the judge himself today said:

A) He does not want to allow admin

B) He might choose to force a sale

This is the actual judge saying it - the person who decides what actually happens.

Admin might be AN answer, but it is FAR from being the only answer.

[tans]

Does anyone know why the Eady trust could be giving up to £3m to Axis in the event of a sale?

I thought it was said there is money ringfenced for the club, but the Eady trust wont let the club have any of it whilst Power is still in charge

[Bob's Orange]

I am no expert but having sat through the last two of these sessions, I would say that Judge Thompsell is slowly but surely edging towards forcing Power to sell to Axis.

However, in terms of the football side of things, we could really feel the impact of the legal timeframes even if the trial started in September 2021 instead of June 2022 and if Axis come out of this victorious.

Enjoy the distraction of pints inside of pubs, Euro 2020+1 and cricket.

I was fully with you until cricket!