derry

Serve a writ on them Mon am with an interim injunction stopping them from doing anything until the judgement is made. That is the way to treat their bullying. Call their bluff, contest their rules and let the courts decide. Remember George Eastham and the Belgian guy, they changed things when the football authorities did the same thing.

FFS the club have already made that declaration. It must be the new owners that the league want to sign a similar declaration not to sue them. That may be illegal.

The injunction would stop them from withholding it. They would look for a way out.

I think that signing under duress could possibly be overturned if taken to court. It is SFC which has already signed this agreement but it's the Owner being liquidated. The Buyer could hardly be forced to sign.

Fight it and take them to court with an interim injunction pending a full hearing if they try and justify misusing their rules.

Firstly thanks Tony for remembering the importance of regular communication and how important that is in getting us onside. Secondly Clapham Saint who posts on here and works in administration says that any takeover would avoid buying the shareholding of the company in administration it would be far too expensive. The assets are being sold and SLH wound up in accordance with insolvency law. The league have no influence over this, it is up to the administrator how he deals with the administration. If SLH is wound up and SFC isn't they can't be inextricably connected. If the league tries to act in such a way as to prevent a company trading it could end up being sued. Pinnacle, the club, and the administrator have all had legal advice which says the league has acted outside it's rules. If the individuals who made these decisions have acted outside the league rules then they could be held personally responsible for the damages. If that is the situation then I would expect a smart about turn, maybe a deal and a suspended sentence. Or if the lawyers play hardball an even smarter about turn.

Sooner rather than later somebody is going to take one of the football authorities to court over a dispute. If there is a full blown legal dissection of companies being denied the right to sue the ruling bodies, it could be, that once challenged the league's rules could be held to be illegal in law. It very nearly happened over the Tevez affair and it could happen here.

One thing missing here is that the creditors gave the club time to pay, and the agreed debts will be paid. The club, whatever the league try to say, traded legally and never went into administration. The lawyers have dissected the league's rules and have come to the conclusion that the league is wrong.

It looks like it is going through and the Pinnacle group's lawyers have set up the club as independent and never in administration, from SLH shortly to be wound up. The league have a big problem as their rules don't cover them.

Not if the debts are accepted as full and final payment, ie. the mortgage settled for £8m therefore the stadium would be owned with mortgage free. If you owed the bank £500 and offered to settle the debt for £400 and that was agreed between you then that is the end of the debt. Remember the company is trading not in administration.

It is possible maybe not probable that KK is not in discussions as a prospective manager at all but the new owner meeting colleagues. I was told a couple of months ago that he was the buyer backed by a well known large venture capital fund. I dismissed it at the time as improbable, although the source was the part owner of a large UK retailer. He has connections in sport and the city.

Yes! A company has to be in administration, SFC has never been in administration so doesn't qualify for CVA.

If the administrator is happy that he is going to complete the deal in due course he can continue to work with Pinnacle until completion however long it takes. Effectively if the administrator wants to extend the period of exclusivity and negotiation it is his right to do so.

The league are on dodgy ground. despite three sets of lawyers reviewing the league rules Pinnacle employed their own lawyers to get an independent opinion. The three sets of lawyers representing the club, administrators and Pinnacle came to the same conclusion. Now the league have a big problem because SLH is going to be liquidated. SFC and the other assets have been sold and the club is no longer connected to the public company being delisted/liquidated and is still trading having never gone into administration. No voluntary creditors agreement is needed as the debts have been paid off and the club continues without administration. The leagues rules never covered this case and a broad interpretation was their solution. Any appeal would be carried out by a QC chaired tribunal and it is a pretty good bet the points deduction would be overturned. I suspect it has suddenly dawned on the league that SFC cannot be inextricably linked to a liquidated SLH if it is not in administration and still trading debt free after an injection of capital. The football club would have to be charged and found guilty of maladministration for points to be deducted. As for the club being stopped trading by the league without it going into administration just won't wash.

I was a pilot flying Heralds from the Airport and had just landed and got out of the the aeroplane going into the office and saw him come in on a private plane from Hamburg. It was all over the airport in minutes that he was signing for us and off for a news conference. I just didn't believe it but it was true. In those days customs, immigration and S/B saw everybody coming in especially in private planes. Everybody was on first name terms so we got the message very quickly. When I got home it was all over the tv news.

I deleted the post because I regretted making a remark like that. Trying to do something when it might have had time to work was once an option. Unless this or another deal with £500k up front to buy time, buys the club, that's it. I have no plans there is no time left.

Interesting! I had a feeling about you but I wanted confirmation. To tell the truth I don't know who you are but thanks for confirming my suspicions. I was hoping you would respond. You really need to rein in your attitude because if life is as fragile as you describe, it can't be doing you any good at all. Picking arguments really isn't the best way. It isn't differing views that cause arguments it is the inability to respect those views with a polite response.

I think you should take a look at yourself. You obviously have a problem. Your belligerent attitude with people you don't even know is ludicrous. You don't even seem able to discuss anything wthout having an attitude problem.

His sanctimonious pedantic reply got up my nose for once.

No, because I know who you are.

You really have made being a sanctimonious prat into an art form. A visit to your psychiatrist must be due. ----------------------------------------------------------------------- The fact there is still 48 hours to the deadline means nothing if everything is complete and there is nothing left to do but sign the contracts and pay up to close the deal. Somebody said the other day that we could expect the bidder to walk at some time close to the deadline if an attempt is made to reduce the price and move the goalposts as time is running out.

It may or may not be true, but it certainly is the most critical time for this particular deal, as it is put up or shut up time when the talking has to stop and the money transferred.

1960: George O'Brien about 5'-8" fouled by Harry Harris (Newport County) later played many games at Centre Half for Pompey. Without a word George hit him with a right cross that pole axed him and left him unconscious for some time. In 55 years it is the only time I've ever seen a footballer actually land a proper punch. The neatest thing I've ever seen.

I think the PLC will be liquidated. There is no point in buying the shareholding. The Administrator will just sell the assets take his cut and pay off the debts. I doubt there will be anything left.

I think the assets are sold then the company is wound up and if anything left after debts paid will go to shareholders. This may well be the first announcement together with the date of a press conference..