Now set for 3 and 4 March 2022. Not open to the public, either in person or online
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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 oneQuote:
Originally Posted by Ninian1962
Keith, how much of that potential liability was provided for in the balance sheet ?Quote:
Originally Posted by Ninian1962
what is cas ?
https://en.wikipedia.org/wiki/Court_...tion_for_SportQuote:
Originally Posted by poc
thanks:thumbup:Quote:
Originally Posted by jon1959
Quote:
Originally Posted by Enoch Mort
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.Quote:
Originally Posted by Ninian1962
Was it you that posted under Bluesince62 or similar? Thanks..
Used to post as Since62Quote:
Originally Posted by stan butler
I didn't realise you had changed your name :thumbup:Quote:
Originally Posted by Ninian1962
Thank you KeithQuote:
Originally Posted by Ninian1962
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.Quote:
Originally Posted by Enoch Mort
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?Quote:
Originally Posted by lisvaneblue
I looked on the CAS website - there seems to be a lot of "arbitrators". However, they all appear to be lawyers.Quote:
Originally Posted by lisvaneblue
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-i...earings-4.html
I feel fairly confident that the court will find for Nantes. I am then expecting city to lodge an appeal and we may all be discussing it this time next yearQuote:
Originally Posted by Rjk
Quote:
Originally Posted by DubaiDai
Haven't both parties agreed to abide by the CAS decision ? In which case no appeal would be allowed. Also, why do you think that Nantes will win. Are you in possession of any new facts ?
The CAS arbitration hearing is the appeal - isn't it?Quote:
Originally Posted by DubaiDai
I can't see anything on their website that suggests there is a further appeal possible if one party doesn't like the decision.
No. Like you I know absolutely nothing about the details. I am going on the basis that this is a European led court who have no sympathy for anything British.Quote:
Originally Posted by dml1954
I hope I am wrong but let’s wait and see
Impress on them the fact that the City of Cardiff voted remain:thumbup:Quote:
Originally Posted by DubaiDai
Let me guess. You voted for Brexit, right? I might be wrong here, but I'm getting the slightest hunch you might have from your post...Quote:
Originally Posted by lisvaneblue