| Mediation and legal 22:21 - Feb 27 with 9206 views | whitemountains |
Where are we now ?
Mediation hasn't happened so what is the next step ?
Court ? Has the trust got insurance in place and more importantly, if not, have they the funds to go to court ?
Trust laws have changed. If the trust lose, without insurance, then the board personally become liable for costs over and above the £800,000 they have. if this is the case - kudos to the 10 or so on the board . VAMOS
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| Mediation and legal on 22:52 - Feb 27 with 4250 views | Fireboy2 |
Fvck off sellout lover |  | | |
| Mediation and legal on 23:12 - Feb 27 with 4212 views | monmouth |
Ah, Scottish Whitemountains, we've been expecting you. Fisching for a bite, bob? |  |
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| Mediation and legal on 23:49 - Feb 27 with 4179 views | londonlisa2001 |
| Mediation and legal on 23:12 - Feb 27 by monmouth |
Ah, Scottish Whitemountains, we've been expecting you. Fisching for a bite, bob? |
I’m interested to know what this ‘Trust Law’ is that is being quoted.
I hope we’re told more. | | | |
| Mediation and legal on 06:26 - Feb 28 with 4061 views | Loyal |
Eddie with a skirt on. |  |
| Nolan sympathiser, clout expert, personal friend of Leigh Dineen, advocate and enforcer of porridge swallows.
The official inventor of the tit w@nk. | | Poll: | Who should be Swansea number 1 |
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| Mediation and legal on 10:15 - Feb 28 with 3873 views | exiledclaseboy |
| Mediation and legal on 23:49 - Feb 27 by londonlisa2001 |
I’m interested to know what this ‘Trust Law’ is that is being quoted.
I hope we’re told more. |
I’m surprised that sort of thing hasn’t been considered to be honest. |  |
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| Mediation and legal on 11:56 - Feb 28 with 3771 views | chad |
Fear not, I am almost sure I heard the Trust have liability insurance in place. Also the most likely outcome of our (Legal Counsel considered and declared) strong legal case, and repeated willingness to negotiate, is that legal expenses will be met by the other side, and their need to cough up the £21 million + for the Trusts shares (that they have deliberately rendered virtually worthless).
But oh dear the sellouts / new majority owners must be getting afraid that their final hour of reckoning is drawing inexorably closer.
I wonder if they have the funds and more importantly the testicular fortitude, to expose to public record, in perpetuity and through the mirror of open court, their seriously unacceptable behaviour.
Are they likely to want to throw their personal money at this in some weak hope of overturning our strong case, when they haven’t shown willing to throw a penny at getting the club back to their self declared, sole credible profit shangri la, of the PL.
Do they want to drag out a case that will drag their reputations through the court and publicly expose their dishonesty, untrustworthiness and underhand behaviour to future potential business partners (not to mention the spectacular displays of incompetence). Quite a heady mix there.
And of course they will render the club to all intents and purposes, unsellable, until they sort this out.
Perhaps their arrogant disregard for the Trust, and their total belief that they may do as they please unchallenged (no doubt engendered by our own previous kowtowing and - despite all evidence to the contrary - naive belief they could be trusted) might be starting to fray a little
See you in court dear friends
Or on the courthouse steps maybe |  | | |
| Mediation and legal on 12:07 - Feb 28 with 3756 views | whitemountains |
| Mediation and legal on 23:49 - Feb 27 by londonlisa2001 |
I’m interested to know what this ‘Trust Law’ is that is being quoted.
I hope we’re told more. |
I'll apologise . I meant the law of an IPS. Forgive my ignorance on this but if the trust goes to court without Insurance then who pays the legal costs should they lose and the fees are over £800,000 ? The only asset they would then have is the shares and they would need to be sold at what ever price can be gained to pay the costs . That might be too simplistic a view | | | |
| Mediation and legal on 12:39 - Feb 28 with 3698 views | wobbly |
The tone of EddieFischerMountain’s posts have definitely changed recently. Clearly the sellouts are starting to get nervous that at long last their bullsh1t is going to get called.
Good. |  | | |
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| Mediation and legal on 12:46 - Feb 28 with 3673 views | majorraglan |
| Mediation and legal on 12:07 - Feb 28 by whitemountains |
I'll apologise . I meant the law of an IPS. Forgive my ignorance on this but if the trust goes to court without Insurance then who pays the legal costs should they lose and the fees are over £800,000 ? The only asset they would then have is the shares and they would need to be sold at what ever price can be gained to pay the costs . That might be too simplistic a view |
Can't comment on the legal fees being over £800,000, but if the Trust go to Court and are successful, then the losers may well find themselves in a very difficult position. They could find themselves buying the Trust shares, paying their own legal costs and those of the Trust. I am not sure what's happens if one or more of the parties has moved assets off shore to try and frustrate the Trust should they win, it may be that the Court will go after the others as finance Companies do when people have joint accounts or act as guarantors in a default situation. | | | |
| Mediation and legal on 12:54 - Feb 28 with 3652 views | jasper_T |
| Mediation and legal on 12:46 - Feb 28 by majorraglan |
Can't comment on the legal fees being over £800,000, but if the Trust go to Court and are successful, then the losers may well find themselves in a very difficult position. They could find themselves buying the Trust shares, paying their own legal costs and those of the Trust. I am not sure what's happens if one or more of the parties has moved assets off shore to try and frustrate the Trust should they win, it may be that the Court will go after the others as finance Companies do when people have joint accounts or act as guarantors in a default situation. |
Levien and Kaplan are minted. They're building a new stadium in DC. They don't want to spend money on a bad investment but it's not going to bankrupt them - not even close.
The sellouts won't have to buy Trust shares or anything like that. A few properties should cover legal fees if it comes to that. | | | |
| Mediation and legal on 13:11 - Feb 28 with 3628 views | chad |
| Mediation and legal on 12:54 - Feb 28 by jasper_T |
Levien and Kaplan are minted. They're building a new stadium in DC. They don't want to spend money on a bad investment but it's not going to bankrupt them - not even close.
The sellouts won't have to buy Trust shares or anything like that. A few properties should cover legal fees if it comes to that. |
You can be publicly shown to be morally bankrupt as well - surely a more costly thing in the long run for them if found to be caught up in deliberate underhand dealing and find themselves having to cover our costs and shell out £21 + million
Your second paragraph - how can you know that when they are still partial owners and obvious conspirators to exclude the Trust and render them impotent. I certainly would not be too sure myself nor of the new majority owners not coming back on the sellouts for potentially full amounts, in relation to assures given during the sale. | | | |
| Mediation and legal on 13:25 - Feb 28 with 3598 views | jasper_T |
| Mediation and legal on 13:11 - Feb 28 by chad |
You can be publicly shown to be morally bankrupt as well - surely a more costly thing in the long run for them if found to be caught up in deliberate underhand dealing and find themselves having to cover our costs and shell out £21 + million
Your second paragraph - how can you know that when they are still partial owners and obvious conspirators to exclude the Trust and render them impotent. I certainly would not be too sure myself nor of the new majority owners not coming back on the sellouts for potentially full amounts, in relation to assures given during the sale. |
The trust are suing on the basis that they should have been included in the offer of the original share purchase, right? So a successful claim would require the purchasers to extend the same offer now.
A court forcing the other sellers to make an offer to buy shares seems an unusual punishment. They're liable for their part in the wrongdoing but I can't see how that would put shares in their pocket at the end of the trust's case (what goes on between the defendants after the trust is done is a different matter, obviously, likely involving more years of process between them). | | | |
| Mediation and legal on 14:19 - Feb 28 with 3526 views | Badlands |
The Trust really needs to be absolutely on point over this action.
If the courts are involved they will take into account the whole process which includes very public statements form the Trust that they would not consider selling shares.
'“Our message to the other shareholders has therefore been that we do not wish to relinquish our shareholding in the football club.”
Huw Crooze on behalf of The Trust.
That sentence could have major repercussions for the Trust. [Post edited 28 Feb 2019 14:53]
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| Mediation and legal on 14:30 - Feb 28 with 3506 views | londonlisa2001 |
| Mediation and legal on 12:07 - Feb 28 by whitemountains |
I'll apologise . I meant the law of an IPS. Forgive my ignorance on this but if the trust goes to court without Insurance then who pays the legal costs should they lose and the fees are over £800,000 ? The only asset they would then have is the shares and they would need to be sold at what ever price can be gained to pay the costs . That might be too simplistic a view |
No such thing as an IPS. Long gone.
It is too simplistic a view. Since you obviously know absolutely nothing and even that’s too complicated for you. | | | |
| Mediation and legal on 14:31 - Feb 28 with 3503 views | londonlisa2001 |
| Mediation and legal on 13:25 - Feb 28 by jasper_T |
The trust are suing on the basis that they should have been included in the offer of the original share purchase, right? So a successful claim would require the purchasers to extend the same offer now.
A court forcing the other sellers to make an offer to buy shares seems an unusual punishment. They're liable for their part in the wrongdoing but I can't see how that would put shares in their pocket at the end of the trust's case (what goes on between the defendants after the trust is done is a different matter, obviously, likely involving more years of process between them). |
Another poster who hasn’t a clue. | | | |
| Mediation and legal on 15:00 - Feb 28 with 3462 views | Badlands |
| Mediation and legal on 11:56 - Feb 28 by chad |
Fear not, I am almost sure I heard the Trust have liability insurance in place. Also the most likely outcome of our (Legal Counsel considered and declared) strong legal case, and repeated willingness to negotiate, is that legal expenses will be met by the other side, and their need to cough up the £21 million + for the Trusts shares (that they have deliberately rendered virtually worthless).
But oh dear the sellouts / new majority owners must be getting afraid that their final hour of reckoning is drawing inexorably closer.
I wonder if they have the funds and more importantly the testicular fortitude, to expose to public record, in perpetuity and through the mirror of open court, their seriously unacceptable behaviour.
Are they likely to want to throw their personal money at this in some weak hope of overturning our strong case, when they haven’t shown willing to throw a penny at getting the club back to their self declared, sole credible profit shangri la, of the PL.
Do they want to drag out a case that will drag their reputations through the court and publicly expose their dishonesty, untrustworthiness and underhand behaviour to future potential business partners (not to mention the spectacular displays of incompetence). Quite a heady mix there.
And of course they will render the club to all intents and purposes, unsellable, until they sort this out.
Perhaps their arrogant disregard for the Trust, and their total belief that they may do as they please unchallenged (no doubt engendered by our own previous kowtowing and - despite all evidence to the contrary - naive belief they could be trusted) might be starting to fray a little
See you in court dear friends
Or on the courthouse steps maybe |
Would a court order costs against the American consortium and other shareholders if it was shown the Trust withdrew from the mediation process.
'Kaplan and Levien had arranged for club director Robert Hernreich and the Swans' director of business and legal affairs, Samuel Porter, to attend the mediation in their absence.
The majority shareholders confirmed those arrangements with the Trust in a letter written in December, with Hernreich and Porter given the authority to make decisions.
The Trust statement continued: "Although alternative attendees were suggested, a mediation is much less likely to be productive while the managing partners of the club's owners are not prepared to fully engage.'
( https://www.bbc.co.uk/sport/football/47223722)
I would argue the Trust could not dictate who represents other bodies and the US consortium had given their representatives power to make decisions on their behalf and could not predict how productive the meeting would be in advance. | |
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| Mediation and legal on 15:05 - Feb 28 with 3445 views | exiledclaseboy |
Badlands, Jasper and whiteeddiefischer on the same thread warning the trust against legal action. I’m touched by their concern.
Circle those wagons, boys. | |
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| Mediation and legal on 15:08 - Feb 28 with 3433 views | jasper_T |
| Mediation and legal on 14:31 - Feb 28 by londonlisa2001 |
Another poster who hasn’t a clue. |
Like most trust members, I imagine. Very little clarification coming out from the Trust leadership about what the specific objectives of this legal action are. People on Twitter have been trying to rally support (and new membership) recently based on the idea that you're fighting to change the leadership structure of the club. "Yanks out" and all that.
I'm happy to be corrected by people closer to the situation like yourself. | | | |
| Mediation and legal on 15:11 - Feb 28 with 3426 views | jasper_T |
| Mediation and legal on 15:05 - Feb 28 by exiledclaseboy |
Badlands, Jasper and whiteeddiefischer on the same thread warning the trust against legal action. I’m touched by their concern.
Circle those wagons, boys. |
I've never advised against legal action. If you have a strong case (and it seems you do) you should pursue it to the fullest of your powers, as any shareholder should do in the event of wrongdoing.
I won't be weeping for Levien and Kaplan's bank account, or the sellouts new holiday homes in Spain. And the club will be fine. | | | |
| Mediation and legal on 15:12 - Feb 28 with 3425 views | exiledclaseboy |
| Mediation and legal on 15:08 - Feb 28 by jasper_T |
Like most trust members, I imagine. Very little clarification coming out from the Trust leadership about what the specific objectives of this legal action are. People on Twitter have been trying to rally support (and new membership) recently based on the idea that you're fighting to change the leadership structure of the club. "Yanks out" and all that.
I'm happy to be corrected by people closer to the situation like yourself. |
If you can point me to one official Trust communication on here, Twitter, Facebook or anywhere else that has either said or implied “yanks out” or anything like it I’d be very grateful. Thanks. | |
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| Mediation and legal on 15:19 - Feb 28 with 3403 views | jasper_T |
| Mediation and legal on 15:12 - Feb 28 by exiledclaseboy |
If you can point me to one official Trust communication on here, Twitter, Facebook or anywhere else that has either said or implied “yanks out” or anything like it I’d be very grateful. Thanks. |
By "people" I mean trust members, not official trust communications.
or Steven Carroll who produces a fanzine with GET OUT OF OUR CLUB on the cover. These members don't seem to be fully informed of the Trust's objective. | | | |
| Mediation and legal on 15:20 - Feb 28 with 3397 views | exiledclaseboy |
| Mediation and legal on 15:19 - Feb 28 by jasper_T |
By "people" I mean trust members, not official trust communications.
or Steven Carroll who produces a fanzine with GET OUT OF OUR CLUB on the cover. These members don't seem to be fully informed of the Trust's objective. |
So none then. Thanks. | |
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| Mediation and legal on 15:25 - Feb 28 with 3385 views | jasper_T |
| Mediation and legal on 15:20 - Feb 28 by exiledclaseboy |
So none then. Thanks. |
Yes, I have no evidence of something I didn't claim existed. | | | |
| Mediation and legal on 15:31 - Feb 28 with 3372 views | whitemountains |
| Mediation and legal on 14:19 - Feb 28 by Badlands |
The Trust really needs to be absolutely on point over this action.
If the courts are involved they will take into account the whole process which includes very public statements form the Trust that they would not consider selling shares.
'“Our message to the other shareholders has therefore been that we do not wish to relinquish our shareholding in the football club.”
Huw Crooze on behalf of The Trust.
That sentence could have major repercussions for the Trust. [Post edited 28 Feb 2019 14:53]
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and as i have alluded to before. One of the trust aims is :
' To maintain and increase a stake in the club, in pursuance of the aims above '
I just really can't see the Trust getting legal insurance on this. In fact the Insurance premium itself would be very expensive and onerous. It could be as much as 10% of the cost of the case ( including the other sides costs if they lose ).
If the sellouts lawyer is right and the trust pulled out of mediation then no insurer will go near it. | | | |
| Mediation and legal on 15:33 - Feb 28 with 3367 views | Vetchfielder |
| Mediation and legal on 15:31 - Feb 28 by whitemountains |
and as i have alluded to before. One of the trust aims is :
' To maintain and increase a stake in the club, in pursuance of the aims above '
I just really can't see the Trust getting legal insurance on this. In fact the Insurance premium itself would be very expensive and onerous. It could be as much as 10% of the cost of the case ( including the other sides costs if they lose ).
If the sellouts lawyer is right and the trust pulled out of mediation then no insurer will go near it. |
Thank you so much for your concern. |  |
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