| Oystons lose 'unfair prejudice' case over extracting funds from Blackpool 15:12 - Nov 8 with 5052 views | swanforthemoney |
Interesting article by David Conn in the Guardian
https://www.theguardian.com/football/blog/2017/nov/07/blackpool-fit-and-proper-p
The Oystons took money (about £25 million) out of the club without consulting fellow director and 20% share holder Belokon. They were found to have acted with unfair prejudice. They have been ordered to pay him £31.27m.
Does this have any bearing on the strength of the Trusts case against and the new owners, I wonder?
If so, it will hopefully mean that the new owners stick to their offer to buy out a proportion of the Trusts shares.
A couple of points from the article
Conn writes: " Unfair-prejudice claims are difficult to win", which is worth noting.
"Also Crucially, Smith found of the Oystons’ conduct as directors: “It is clear that there were fundamental breaches of duties owed to Blackpool FC.” Reciting the law, he said these duties were: to exercise their powers “for a proper purpose”; “to promote the success of the company for the benefit of its members as a whole”; to “exercise reasonable care, skill and diligence”; and to avoid conflicts of interest. "
[Post edited 8 Nov 2017 15:16]
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| Oystons lose 'unfair prejudice' case over extracting funds from Blackpool on 00:42 - Nov 9 with 4962 views | Loyal |
Joey Barton had to pay them 22k out of court for calling them frauds. I expect he will now get his money back. | |
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| Oystons lose 'unfair prejudice' case over extracting funds from Blackpool on 02:19 - Nov 9 with 4945 views | LeonWasGod |
A few more David Conn's around and the media would be a far better place.
Imo they're the worse owners in football. Taking out claims against their club's own fans. Disgusting. Jenkins take note!
Edit - you'd like to think this would help a case against our shower. Although it would be fraught with uncertainty. Although all hypothetical after the Trust vote (until the next time they act without informing all parties). [Post edited 9 Nov 2017 2:35]
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| Oystons lose 'unfair prejudice' case over extracting funds from Blackpool on 07:53 - Nov 9 with 4904 views | Private_Partz |
There are parallels to be drawn it seems. Major shareholders being prevented from voting etc.
Over all this is good news and a precedent has been set which will now leave the unscrupulous looking over their shoulders which is no bad thing. | |
| You have mission in life to hold out your hand,
To help the other guy out,
Help your fellow man.
Stan Ridgway
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