Ruling that allows SUFC to continue to trade

[blades58]

Having read most of the judgement (it is rather long) it appears that this preliminary case was KM wanting to loan £2.5 million to the club and therefore the Prince, through his company to do the same. This was to cover current expenditure and to provide a fund for new players. The Prince refused, but offered to donate £2.5m if KM did the same. KM refused because the ultimate ownership is in doubt, so if he lost, he would be unable to get back his donation. The Prince argued that the loan was currently not needed as the club had enough funds for the time being. The judge found in favour of the Prince’s arguments.
After KM made his original application to the court, the Prince had transferred 80% of his shares from UTB to UTB(2018). As I am a simple old soul and not an international corporate lawyer, I have no idea what is the relevance of this move - but I doubt if it was simply done for fun.
In the end, I suspect that the only real winners will be the lawyers and one of the losers will be us lot, the fan base.

And possibly the football club if our HRH is nothing more than looking to asset strip the club

[Carpe_diem]

[/B]

And possibly the football club if our HRH is nothing more than looking to asset strip the club

Why would he be? Seriously, what assets have we got? The club doesn't own the ground or the training facilities, so the only assets the club has is the staff.

[FatherKnowsBest]

Ha ha... it's not like that at all, even slightly. Nice story, though.

I thought it was a fair analogy...

Moral of the story. Keep out of Maggie Mays...

[Chingo]

Keep sticking up for KM lads , the prince only has a few years of being not fit to be part owner of this club ... KM has decades of cok ups on his CV .

[blades58]

Why would he be? Seriously, what assets have we got? The club doesn't own the ground or the training facilities, so the only assets the club has is the staff.

Sorry Carpe, I haven't read the transcript or every post on S2. I thought he was after the lot. Buying out McCabes half, thinking that would equate to taking control of the stadium, academy etc

[diode_blade]

I think its more like, after being on your own for ages and struggling to pay for your flat, you happen to meet a lady in the Maggie Mays Motown night. It goes well, its not magic, but its okay, and if you can get her to move in that's all your immediate money worries gone. But three years later, she never cleans or cooks dinner, she'd rather be on Facebook than talk to you and you don't even get your leg over anymore. Its going nowhere, so you politely suggest that she takes her stinking carcass and gets it out of your life, which is when she digs her talons in and claims ownership of all your possessions, tells all her friends what a b'stard you are (you're not...), and after the lawyers have been all over it, you have to give her everything you own, and end up in abject poverty, while she has nights out on your money and flirts outrageously with another mug.

Bugger me, I'm about to move into a flat, Thanks for the warning FKB I'll steer clear of that nightclub.

[Blade for Life]

So without the Brooks money the promises made to CW re a budget would have been renaged on. If McCabe and the Prince were doing a job interview for sole ownership they have failed miserably. We need a plan B without these 2 long term.

[FatherKnowsBest]

Keep sticking up for KM lads , the prince only has a few years of being not fit to be part owner of this club ... KM has decades of cok ups on his CV .

I don't think anyone is particularly sticking up for either of them...

[GrayBlade]

I don't think anyone is particularly sticking up for either of them...

I fairness, I think a few fancy sticking something up where the sun don’t shine FKB.

[rodcurrie]

Keep sticking up for KM lads , the prince only has a few years of being not fit to be part owner of this club ... KM has decades of cok ups on his CV .

Dearie me Chings are ya actually enjoyin this mess.If ya are i hope the fishin goes tats up. UTCB