CAS hearing dates re Nantes case

[Ninian1962]

Now set for 3 and 4 March 2022. Not open to the public, either in person or online

[Ninian1962]

Re: CAS hearing dates re Nantes case

Now set for 3 and 4 March 2022. Not open to the public, either in person or online

Will have a £20m + impact on the finances of our club - hopefully a positive one

[Enoch Mort]

Re: CAS hearing dates re Nantes case

Will have a £20m + impact on the finances of our club - hopefully a positive one

Keith, how much of that potential liability was provided for in the balance sheet ?

[poc]

Re: CAS hearing dates re Nantes case

what is cas ?

[jon1959]

Re: CAS hearing dates re Nantes case

what is cas ?

https://en.wikipedia.org/wiki/Court_of_Arbitration_for_Sport

[poc]

Re: CAS hearing dates re Nantes case

https://en.wikipedia.org/wiki/Court_...tion_for_Sport

thanks

[Ninian1962]

Re: CAS hearing dates re Nantes case

Keith, how much of that potential liability was provided for in the balance sheet ?

The figure in the May 2020 accounts (the most recent ones filed at Companies House) was £20.7m. It has probably gone up in subsequent accounts as provision was made for ongoing legal costs.

If the club win their case at CAS then there will therefore be a big improvement in its reported profits. In cash flow terms though it would just remove the need to set aside cash to settle the case if lost rather than generate new cash (other than a possible recovery of legal fees from Nantes)

Keith

[stan butler]

Re: CAS hearing dates re Nantes case

The figure in the May 2020 accounts (the most recent ones filed at Companies House) was £20.7m. It has probably gone up in subsequent accounts as provision was made for ongoing legal costs.

If the club win their case at CAS then there will therefore be a big improvement in its reported profits. In cash flow terms though it would just remove the need to set aside cash to settle the case if lost rather than generate new cash (other than a possible recovery of legal fees from Nantes)

Keith

Hi Keith.
Was it you that posted under Bluesince62 or similar? Thanks..

[Ninian1962]

Re: CAS hearing dates re Nantes case

Hi Keith.
Was it you that posted under Bluesince62 or similar? Thanks..

Used to post as Since62

[stan butler]

Re: CAS hearing dates re Nantes case

Used to post as Since62

I didn't realise you had changed your name

[Enoch Mort]

Re: CAS hearing dates re Nantes case

The figure in the May 2020 accounts (the most recent ones filed at Companies House) was £20.7m. It has probably gone up in subsequent accounts as provision was made for ongoing legal costs.

If the club win their case at CAS then there will therefore be a big improvement in its reported profits. In cash flow terms though it would just remove the need to set aside cash to settle the case if lost rather than generate new cash (other than a possible recovery of legal fees from Nantes)

Keith

Thank you Keith

Am I correct in thinking that. If we win there is £20m to write back to our trading account which will improve the position ? What could happen to any surplus that arose as a consequence ? Could it be used to write down indebtedness or could some of it be used to strengthen the team ?

Also you mention recovery of legal costs from Nantes which appear to be £5m+. Obviously this would only happen if we won at CAS. I assume we would have to sue them in the French Courts. What would be the grounds for this ? CAS is only dealing with contractual issues. Is the suggestion that if we win at CAS the contractual issues that might result in a win for us are purely down to Nantes which could be justification in itself for legal action or will it be negligence in flight arrangements by those acting on behalf either directly or indirectly of Nantes ?

[lisvaneblue]

Re: CAS hearing dates re Nantes case

Thank you Keith

Am I correct in thinking that. If we win there is £20m to write back to our trading account which will improve the position ? What could happen to any surplus that arose as a consequence ? Could it be used to write down indebtedness or could some of it be used to strengthen the team ?

Also you mention recovery of legal costs from Nantes which appear to be £5m+. Obviously this would only happen if we won at CAS. I assume we would have to sue them in the French Courts. What would be the grounds for this ? CAS is only dealing with contractual issues. Is the suggestion that if we win at CAS the contractual issues that might result in a win for us are purely down to Nantes which could be justification in itself for legal action or will it be negligence in flight arrangements by those acting on behalf either directly or indirectly of Nantes ?

Don't hold your breath.

19 members on the board of which 9 are from mainland Europe. No One from UK

[Rjk]

Re: CAS hearing dates re Nantes case

Don't hold your breath.

19 members on the board of which 9 are from mainland Europe. No One from UK

Are you suggesting that they would be biased towards Nantes?

[Enoch Mort]

Re: CAS hearing dates re Nantes case

Don't hold your breath.

19 members on the board of which 9 are from mainland Europe. No One from UK

I looked on the CAS website - there seems to be a lot of "arbitrators". However, they all appear to be lawyers.

Here is the listing of the case on 3 and 4 March. Will the hearing be in person or online ? Probably the latter I would guess. I don't know if that makes it more difficult to put our case.

https://www.tas-cas.org/en/general-information/news-detail/article/list-of-hearings-4.html