| Consultation Papers - Cost of Legal Action 16:13 - Jul 21 with 28679 views | Vetchfielder |
I’ve reviewed the Consultation Papers that arrived today and they are well presented and clear. Personally I could have added a couple more lines to the Pro’s section for legal action but it is specifically it is the aspect of legal fees in the Consultation Papers has left me with major gripes.
The first thing is that we don’t seem to have got a quotation or even an estimate of the legal costs of going ahead with legal action. If we did get a quotation or estimate then it has not been included in the documentation. Has the Trust Board asked for an estimate, was one provided and what are the details ?
What about a "No-Win / No-Fee" type of legal engagement— mentioned by Dai Little in the first Trust meeting yet I can see no mention of this in the documentation?
Regarding the magnitude of legal costs, the words we are given are:
(a) In the Options Matrix, Impact on Trust Funds section: “Likely substantial reduction, possibly wiped out completely, or worse”.
(b) In the Cons section of Option 2: “Legal action is costly and unpredictable. There is a real chance the Trust could lose, in which case the existing funds of over £800,000 could be wiped out or even lead to the Trust being in debt. If legal costs were to exceed the current Trust funds, which is a likely scenario, it is unclear at this time how the Trust would be able to fund these costs — which may impact the Trust’s ability to proceed beyond that point”.
Regarding (a), no detail is provided as to exactly what “worse” means in practical terms and how we would deal with it.
Also, there is a big contradiction between funds “possibly” wiped out in (a) and a “likely” scenario of debt in (b) which means it’s probable. So I don’t know whether the Trust Board thinks it’s just possible or that it's probable and exactly on what that judgement is based.
For me, the really disappointing words here in (b) are “it is unclear at this time how the Trust would be able to fund these costs”. The Trust Board has known about the potential for legal action for many many months so has had more than ample time to take advice, have a clear view, have a plan and identify a proposed approach if the funds aren’t sufficient for legal action.
On the basis of these Papers, I feel that not enough effort has gone into establishing what litigation really means in £ terms of legal costs and how the Trust could/would fund it, possibly because we have been distracted by what the Trust Board consider an acceptable offer. |  |
| Proud to have been one of the 231 |
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| Consultation Papers - Cost of Legal Action on 16:28 - Jul 29 with 1662 views | Uxbridge |
| Consultation Papers - Cost of Legal Action on 14:41 - Jul 29 by monmouth |
Yes. The same reason people vote for Labour in Wales, the Tories in England, and the SNP in Scotland.
They don't fully understand the situation, or have an outdated perception of the reality. Or they do understand, and just like to do dull things for a laugh. Or they've had a bump on the head. Or they are numerically obsessed dudes that think that more shares are better even when they aren't. Probably take double the dose of all medicines as if one tablet is good, two must be better, right?
Or they have no critical facilities of their own. Oh no, sorry, that would mean voting for the deal. 
Yep, I think that just about covers it |
There are plenty of people who simply, above all else, want to keep a stake in the club, and to hell with any financial aspects. Not my words, and not ones I exactly agree with, but the words of people I spoke to at the recent forum.
Issues such as dilution or the financial value of the shareholding are irrelevant to them. They just want a piece of the club.
It's understandable in many ways, even if I don't agree with their rationale. |  |
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| Consultation Papers - Cost of Legal Action on 16:46 - Jul 29 with 1646 views | E20Jack |
| Consultation Papers - Cost of Legal Action on 16:28 - Jul 29 by Uxbridge |
There are plenty of people who simply, above all else, want to keep a stake in the club, and to hell with any financial aspects. Not my words, and not ones I exactly agree with, but the words of people I spoke to at the recent forum.
Issues such as dilution or the financial value of the shareholding are irrelevant to them. They just want a piece of the club.
It's understandable in many ways, even if I don't agree with their rationale. |
That makes so little sense its painful.
If they want a stake in the club then how can dilution be irrelevant to them? This is my main concern, people simply don't understand yet they are voting on the future of our club. It is a truly terrifying prospect. |  |
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| Consultation Papers - Cost of Legal Action on 16:56 - Jul 29 with 1629 views | waynekerr55 |
| Consultation Papers - Cost of Legal Action on 16:46 - Jul 29 by E20Jack |
That makes so little sense its painful.
If they want a stake in the club then how can dilution be irrelevant to them? This is my main concern, people simply don't understand yet they are voting on the future of our club. It is a truly terrifying prospect. |
And therein lies a flaw of democracy ... |  |
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| Consultation Papers - Cost of Legal Action on 17:01 - Jul 29 with 1614 views | E20Jack |
| Consultation Papers - Cost of Legal Action on 16:56 - Jul 29 by waynekerr55 |
And therein lies a flaw of democracy ... |
Yep. They say a donkey is a horse designed by committee. | |
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| Consultation Papers - Cost of Legal Action on 17:12 - Jul 29 with 1592 views | harryhpalmer |
| Consultation Papers - Cost of Legal Action on 16:19 - Jul 29 by Uxbridge |
From the Trust email you should have had
Whilst the Trust's website, which was kindly designed and is supported by Majestic Media, will not be directly affected, the contact links to the Trust via the website and other direct links via email, including the consultation and scrutineer swanstrust addresses being used for the current consultation exercise may not be available at some point during the upgrade period which will last between 7pm on Friday July 28th and 10pm on Sunday July 30th.
If you don't have a response by Monday drop me a Pm with your email address. If you've used the consultation one, I've not seen an email at least. You have til 15th August anyway. |
Uxbridge, I sent an email just after midday on 28th to:
consultation@swanstrust.co.uk
and
scrutineer@swanstrust.co.uk |  |
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