+ Visit Cardiff FC for Latest News, Transfer Gossip, Fixtures and Match Results |
The end of the Langstone saga.
http://www.cardiffcityfc.co.uk/news/...-3405438.aspx?
http://www.walesonline.co.uk/sport/f...line-12144703?
Cardiff City have undergone a boardroom shuffle after the resignation of one of the club’s directors – drawing a firm line under the Langston affair.
A statement from the Bluebirds confirmed the exit of director Michael Filiou, the representative of former owner Sam Hammam placed on the board as part of an initial agreement with Langston during discussions over the disputed loan.
Filiou was appointed in 2013 after what was described at the time as an amicable agreement over the repayments on the controversial loan notes, only for tensions to rise again when Cardiff opted to withhold payments as they looked to settle the matter – including proving Langston’s identity as a company owned by Hammam – once and for all.'
After a deal agreed before the Royal Courts of Justice in February 2016, Cardiff were thought to have made their final payment of around £5m later that month, with a further £2m said to be owed should the club win promotion to the Premier League.
Now Filiou’s exit is a further sign that the £24m loan notes saga, involving various court battles and threats, is now behind the Bluebirds. A statement released on Tuesday read: “After three years with the Club Mr. Filiou shall leave the board of directors during November 2016. The decision comes as a result of an agreement reached with Langston Group Corporation earlier this year.
“Mr. Filiou’s appointment to the Club’s board coincided with the Club’s promotion to the Premier League in 2013. He also chaired the Club’s Audit Committee during his time on the board. Mr. Filiou has at all times acted in compliance with his fiduciary duties to the Club. We wish him well for the future.”
He wasn't spending enough time on his pastry business.
The final SH leak plugged ? I wonder what the official reaction in the other place will be.
Good luck Michael ,perhaps others will fili ou out the door
The "Author" is insisting it cost Tan considerably more due to not just paying it off as originally agreed. Reckons £1million court costs, which I find very hard to believe. Ho hum, at least that's put to bed though, until the next time....
glad it is the end to the sorry affair
good riddance Scam
Goodbye Mr Hammam.