Derby to sue Rush for £6.8M

[roger_ramjet]

Suspect the ‘accountancy twins’ Roger and Manx may be in high demand on here over all this.
How worried should we be chaps?

Hard to say until accounts are available - and by that I don't mean the "commentary" press release by the club. Since we had accounts last year, informed opinion last year noted that we don't need to produce another set for 3 years, so it could be a while yet!

As to the unfair dismissal claim which the club has lost, I wouldn't think that would influence the claim against SR. Since the dismissal was for alleged good cause - ie breach of fiduciary duty etc, then the normal procedures would have been ignored. Since correct processes may not have been followed, the club would naturally have lost at the tribunal? We need an HR view on that - where's Angry when you need him.

The contingent asset recovery from the claim would only be a note and should not have been included in the balance sheet per se. The liabilities from which the contingent asset arose (eg enhanced salaries, transfer fees and agent payments) will have already been provided for or written off.

So on the face of it the downside has already been dealt with and the upside should not have been included, but let's wait and see. I would imagine there is no FFP impact

[mistaram]

RamAnag. Sorry about that bloody I phones Think you have to be cautious about anything the Mail writes they are saying Rush receive £2million for his unfair dismissal that is wrong since 2013 the most you can receive is £78,000 just checked with my solicitor I would imagine there is a lot we don't know about otherwise it wouldn't be going to the high court

[Ram59]

Just what we need, another disruptive side show to mess up our season.

Non Rush players are going to be wondering how much the Rush players are getting.

[ramAnag]

RamAnag. Sorry about that bloody I phones Think you have to be cautious about anything the Mail writes they are saying Rush receive £2million for his unfair dismissal that is wrong since 2013 the most you can receive is £78,000 just checked with my solicitor I would imagine there is a lot we don't know about otherwise it wouldn't be going to the high court

Lol...I’m more than cautious about anything the Mail writes...totally agree, but something’s going on and, as Ram59 implies...it’s unlikely to be beneficial for the club...yet again!

[MadAmster]

Part of SR's £2M claim involves his, allegedly, owning 5% of the DCFC shares for which he hasn't been compensated......

....... I don't know if there's any truth in that....... Noor do I know if it has any connection to Nose Candie Crush

[roger_ramjet]

I recall that he had a 5% stake in the interregnum between the Appleton et al regime and Rush regime, and that this shareholding has disappeared, so it makes sense

[Romanis]

I think this is actually normal practise - former owners trying to eke as much as they can from current owners. Happens all the time. Heck even Fawaz is suing.
It almost always ends in a deal of some sort and makes accountants and lawyers very happy people.
Nothing to worry lads.

[AdiSalisbury]

As to the unfair dismissal claim which the club has lost, I wouldn't think that would influence the claim against SR. Since the dismissal was for alleged good cause - ie breach of fiduciary duty etc, then the normal procedures would have been ignored. Since correct processes may not have been followed, the club would naturally have lost at the tribunal? We need an HR view on that - where's Angry when you need him.

Yes, procedural unfairness is automatically deemed unfair dismissal, no matter how valid the dismissal reason might have been. Most employment lawyers would advise the individual to request reinstatement rather than compensation (as compensation can be only as much as statutory, not much for a high earner), and the employer would refuse and therefore have to pay increased compensation to severe the employment. No idea what happened in the DC v SR case of course, wouldn't want to speculate.

Isn't the £6.8m about the cost of Butterfield? Sounds like we're seeking a refund to me!

[mistaram]

Adi the actual figure is £6, 814,107,60 The 60p is Butterfield.

[Trickytreesreds]

Trouble in paradise?