Forum | Oystons lose 'unfair prejudice' case over extracting funds from Blackpool by swanforthemoney

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Oystons lose 'unfair prejudice' case over extracting funds from Blackpool 15:12 - Nov 8 with 3789 views

Interesting article by David Conn in the Guardian

https://www.theguardian.com/football/blog/2017/nov/07/blackpool-fit-and-proper-p

The Oystons took money (about £25 million) out of the club without consulting fellow director and 20% share holder Belokon. They were found to have acted with unfair prejudice. They have been ordered to pay him £31.27m.

Does this have any bearing on the strength of the Trusts case against and the new owners, I wonder?

If so, it will hopefully mean that the new owners stick to their offer to buy out a proportion of the Trusts shares.

A couple of points from the article

Conn writes: " Unfair-prejudice claims are difficult to win", which is worth noting.

"Also Crucially, Smith found of the Oystons’ conduct as directors: “It is clear that there were fundamental breaches of duties owed to Blackpool FC.” Reciting the law, he said these duties were: to exercise their powers “for a proper purpose”; “to promote the success of the company for the benefit of its members as a whole”; to “exercise reasonable care, skill and diligence”; and to avoid conflicts of interest. "

[Post edited 8 Nov 2017 15:16]

I stand in the North Stand

Oystons lose 'unfair prejudice' case over extracting funds from Blackpool on 00:42 - Nov 9 with 3699 views

Loyal

Joey Barton had to pay them 22k out of court for calling them frauds. I expect he will now get his money back.

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Oystons lose 'unfair prejudice' case over extracting funds from Blackpool on 02:19 - Nov 9 with 3682 views

LeonWasGod

A few more David Conn's around and the media would be a far better place.

Imo they're the worse owners in football. Taking out claims against their club's own fans. Disgusting. Jenkins take note!

Edit - you'd like to think this would help a case against our shower. Although it would be fraught with uncertainty. Although all hypothetical after the Trust vote (until the next time they act without informing all parties).

[Post edited 9 Nov 2017 2:35]

Oystons lose 'unfair prejudice' case over extracting funds from Blackpool on 07:53 - Nov 9 with 3641 views

Private_Partz

Oystons lose 'unfair prejudice' case over extracting funds from Blackpool on 02:19 - Nov 9 by LeonWasGod

[Post edited 9 Nov 2017 2:35]

There are parallels to be drawn it seems. Major shareholders being prevented from voting etc.
Over all this is good news and a precedent has been set which will now leave the unscrupulous looking over their shoulders which is no bad thing.

You have mission in life to hold out your hand, To help the other guy out, Help your fellow man. Stan Ridgway

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