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at 20:34 18 May 2018
This update is being sent to you as a registered member of Swansea City Supporters’ Society Limited, which is also known as the ‘Swansea City Supporters’ Trust’ (‘Trust’). If you are not a member of the Trust, please do not read it. If you are a member, please do not share it or pass it on to others. On the advice of our lawyers, we need to state that nothing in this update is, or is intended as, a waiver of legal professional privilege or any other type of privilege.
In January 2018 the majority owners of Swansea City decided to ‘put on hold’ indefinitely the ongoing discussions on the previously proposed deal relating to the part sale of the Trust’s shareholding in Swansea City Football 2002 Limited, which (through another company) owns the Football Club. With no indication as to whether the deal could be resurrected in the future, the Trust engaged further specialist legal advice in order to determine the next steps that could be taken to best protect the interests of the Trust and, therefore, our members. It will be recalled that we have previously reported that initial advice from Queen’s Counsel (a senior lawyer) was taken last year.
As a result, the Trust and our legal advisers have carried out a comprehensive review of the circumstances surrounding the 2016 sale of a controlling interest in the Club and the impact of these events on the Trust and our shareholding. This involved going back to 2001/2002, when the Club was saved from bankruptcy by the Trust and others, and establishing the relevant factual history and developments from then until the present day. Many people and sources had to be consulted to achieve this and the exercise has only been completed within the last few days.
Our lawyers have today sent (by electronic means or post) to the Club and its shareholders a detailed letter, setting out a number of legal claims on the part of the Trust, including complaints as to the very negative impact the sale and related matters have had on the Trust’s position as a shareholder. The letter and its schedules extend to some 60 pages.
On advice from our lawyers, and in accordance with Court guidelines, the Trust has offered to enter into a formal ‘mediation’ process with the majority owners and others, in order to seek to resolve these claims and complaints. The aim is to seek a provisional agreement to settle past differences, with a view to moving ahead together with the task of rebuilding the Club and returning it to top level football. Any such provisional agreement would be put to members for approval, by way of a consultation.
Mediation is a voluntary and confidential process in which relevant parties seek to resolve disputes with the assistance of a trained independent and impartial mediator. The mediator cannot impose a solution, but uses his or her skills to bring the parties together. The letter that has been sent proposes that mediation takes place in early July, to allow time for responses to be provided to the letter. While it is a voluntary process, mediation is increasingly being seen by courts as a necessary first step before any formal court proceedings are taken and costs sanctions can be applied for unreasonably failing to mediate. The Trust is duty bound to explore all available legal avenues to protect the interests of the Trust and our members. If mediation were refused or the process proved unsuccessful, and if Trust members support such action, future court proceedings are possible.
If a potential resolution is achieved via the mediation process, it will be set out in a binding, written settlement agreement. However, we can assure our members that any agreement will not be finalised unless it is approved by Trust members as part of a formal consultation exercise.
Members should be aware, however, that if the offer of formal mediation is accepted, that it is a confidential process. This means that the Trust Board will be limited in what we are able to report during the mediation process, unless or until a provisional agreement is reached (or alternative options are identified) on which members can be consulted.
We will update members as soon as we are able to provide further information.
The Swans Trust Team
|Trust's Shareholding and the Next Steps|
at 18:45 15 May 2018
Statement was promised for this week (last week)...keep refreshing my browser to see if that Members email has landed yet...nope.
If the Membership don't this time vote for legal action (assuming that is what's going to be on offer) given where we now are...words will genuinely fail me.
This time, The Trust shouldn't even have to put any spin into the options, should they?! The vote for legal action cannot possibly be in any credible question...surely.
|Our players out on loan|
at 23:33 9 May 2018
Bet they're looking forward to coming back now for pre-season training ahead of Reading, Wigan etc
|5 at the back Sunday|
at 22:28 9 May 2018
Carlos has got it all under control so no need to worry everyone
|Haye v Bellew|
at 21:13 5 May 2018
What time is the walk-on? Anyone know cheers.
|That was hoofball |
at 17:04 5 May 2018
for the last half hour or so...HOOFBALL...THE SWANS
Sorry Carlos...nice guy and all that, but looking more and more clueless
|Trust Members Facebook page|
at 07:07 12 Apr 2018
The Trust put up a thread on their Communications inviting comments. I posted 4/5 days ago saying the Members only facebook group wasnt a good thing/too insular/the Trust lacking in any social media prescence on twitter/ need to get the Trust message (whatever it is...) out there far better etc.
Expected some response, comments...nothing...on the Communications thread...I'd laugh at the irony if it wasn't serious.
If there's ever a re-vote, based on the fb group, sadly, I expect nothing other than the Members to vote to remain in with the Yanks.
|I waited all my life (52 years) for an FA Cup QF|
at 16:52 17 Mar 2018
And those tossers on the pitch cant be rsd with it.
Just got back.
Obviously hope we stay up and all that, but I'll be dead next time we get this far probably. Really pssd off. Glad i left early is my only (vsmall) consolation.
The FA Cup is gone (as the kids would say). Sad times for the competition.
|4 at the back|
at 17:59 24 Feb 2018
We looked shocking when Carlos threw all the meat on. Totally open against a poor Brighton team.
Not panicking, but certainly worried that plan B looked so inept.
Had Ki scored start of 2nd half might have been different. Anyway, learned maybe 4 at the back away is not a strong option. Win against West Ham and who gives a f about today.
at 19:29 10 Feb 2018
The new Stoke RFC. Wouldn't want to watch that hoofball sht week in week out. Dyche criticising our pitch...they dont need any grass. Hideous.
Great gritty win. Loved it.
|3pts off 15th|
at 22:32 22 Jan 2018
Ok ok GD actually prevents that, but only 3 pts.
Amazing what 1 win or indeed one more win can do.
at 22:18 18 Dec 2017
Thought he deserved a thread of his own as he was the most anonymous player on the pitch and so deserves some attention.
A Chelsea level player 😁😁
|Grand Tour season 2|
at 16:56 10 Dec 2017
Anyone know where i can see this free online?
Thanks in advance.
at 20:56 25 Nov 2017
Surely deserves his own thread today in fairness.
Reminded Alfie what just being a defender is. Nothing fancy, just old fashioned defending.
Best game I've seen from him 👏
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