| Trust Update... 20:34 - May 18 with 31460 views | marchamjack |
CONFIDENTIAL
This update is being sent to you as a registered member of Swansea City Supporters’ Society Limited, which is also known as the ‘Swansea City Supporters’ Trust’ (‘Trust’). If you are not a member of the Trust, please do not read it. If you are a member, please do not share it or pass it on to others. On the advice of our lawyers, we need to state that nothing in this update is, or is intended as, a waiver of legal professional privilege or any other type of privilege.
In January 2018 the majority owners of Swansea City decided to ‘put on hold’ indefinitely the ongoing discussions on the previously proposed deal relating to the part sale of the Trust’s shareholding in Swansea City Football 2002 Limited, which (through another company) owns the Football Club. With no indication as to whether the deal could be resurrected in the future, the Trust engaged further specialist legal advice in order to determine the next steps that could be taken to best protect the interests of the Trust and, therefore, our members. It will be recalled that we have previously reported that initial advice from Queen’s Counsel (a senior lawyer) was taken last year.
As a result, the Trust and our legal advisers have carried out a comprehensive review of the circumstances surrounding the 2016 sale of a controlling interest in the Club and the impact of these events on the Trust and our shareholding. This involved going back to 2001/2002, when the Club was saved from bankruptcy by the Trust and others, and establishing the relevant factual history and developments from then until the present day. Many people and sources had to be consulted to achieve this and the exercise has only been completed within the last few days.
Our lawyers have today sent (by electronic means or post) to the Club and its shareholders a detailed letter, setting out a number of legal claims on the part of the Trust, including complaints as to the very negative impact the sale and related matters have had on the Trust’s position as a shareholder. The letter and its schedules extend to some 60 pages.
On advice from our lawyers, and in accordance with Court guidelines, the Trust has offered to enter into a formal ‘mediation’ process with the majority owners and others, in order to seek to resolve these claims and complaints. The aim is to seek a provisional agreement to settle past differences, with a view to moving ahead together with the task of rebuilding the Club and returning it to top level football. Any such provisional agreement would be put to members for approval, by way of a consultation.
Mediation is a voluntary and confidential process in which relevant parties seek to resolve disputes with the assistance of a trained independent and impartial mediator. The mediator cannot impose a solution, but uses his or her skills to bring the parties together. The letter that has been sent proposes that mediation takes place in early July, to allow time for responses to be provided to the letter. While it is a voluntary process, mediation is increasingly being seen by courts as a necessary first step before any formal court proceedings are taken and costs sanctions can be applied for unreasonably failing to mediate. The Trust is duty bound to explore all available legal avenues to protect the interests of the Trust and our members. If mediation were refused or the process proved unsuccessful, and if Trust members support such action, future court proceedings are possible.
If a potential resolution is achieved via the mediation process, it will be set out in a binding, written settlement agreement. However, we can assure our members that any agreement will not be finalised unless it is approved by Trust members as part of a formal consultation exercise.
Members should be aware, however, that if the offer of formal mediation is accepted, that it is a confidential process. This means that the Trust Board will be limited in what we are able to report during the mediation process, unless or until a provisional agreement is reached (or alternative options are identified) on which members can be consulted.
We will update members as soon as we are able to provide further information.
Best wishes
The Swans Trust Team
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| Oh,..Dave, what's occuring? |
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| Trust Update... on 20:36 - May 18 with 8487 views | marchamjack |
Too important not to share | |
| Oh,..Dave, what's occuring? |
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| Trust Update... on 20:36 - May 18 with 8483 views | Jackfath |
Unbelievable. |  |
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| Trust Update... on 20:37 - May 18 with 8469 views | Jackfath |
| Trust Update... on 20:36 - May 18 by marchamjack |
Too important not to share |
Did you read the first paragraph? | |
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| Trust Update... on 20:38 - May 18 with 8430 views | AngelRangelQS |
Cretin |  | | |
| Trust Update... on 20:40 - May 18 with 8355 views | BillyChong |
Why has this been advised now and not when the vote went out/the trust advised against legal action? |  | | |
| Trust Update... on 20:41 - May 18 with 8327 views | Swanjaxs |
Nobody cares, the trust is irrelevant |  |
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| Trust Update... on 20:41 - May 18 with 8327 views | AguycalledJack |
Was bound to happen. | | | |
| Trust Update... on 20:42 - May 18 with 8327 views | Rancid |
'If you're not a member then please don't read it'
😂😂😂 |  | | |
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| Trust Update... on 20:43 - May 18 with 8270 views | AngelRangelQS |
| Trust Update... on 20:42 - May 18 by Rancid |
'If you're not a member then please don't read it'
😂😂😂 |
To be fair that was my reaction too - ridiculous
Still don’t think it should have been posted on here | | | |
| Trust Update... on 20:44 - May 18 with 8225 views | Wingstandwood |
| Trust Update... on 20:36 - May 18 by Jackfath |
Unbelievable. |
I wrote/predicted on here a few weeks back that we were all likely to see a PR-sleight-of-hand load of b@llocks along the lines of stuff advocating a necessity to Build bridges, being united for the good of the club, working in partnership. Blah, blah, blah!!!!
And thats exactly the cr@p scenario that has come true! It's an atrocity against decency and common sense. Like a dog rolling over to be repeatedly kicked. Is it any shock that Jenkins is still here? |  |
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| Trust Update... on 20:44 - May 18 with 8182 views | NeathJack |
| Trust Update... on 20:43 - May 18 by AngelRangelQS |
To be fair that was my reaction too - ridiculous
Still don’t think it should have been posted on here |
There are a number of journo's that are Trust members. To think it would only be read by Trust members and not circulated more widely is bizarre. |  | | |
| Trust Update... on 20:45 - May 18 with 8163 views | FearOfAJackPlanet |
| Trust Update... on 20:42 - May 18 by Rancid |
'If you're not a member then please don't read it'
😂😂😂 |
I'm not a member, so obviously I stopped reading at that point....  |  |
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| Trust Update... on 20:45 - May 18 with 8160 views | max936 |
| Trust Update... on 20:36 - May 18 by marchamjack |
Too important not to share |
Cheers for that, I'm notsure what to really make of it, but I thought the mediation with the Owners as taken its course and achieved little if anything? |  |
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| Trust Update... on 20:45 - May 18 with 8141 views | Rancid |
| Trust Update... on 20:43 - May 18 by AngelRangelQS |
To be fair that was my reaction too - ridiculous
Still don’t think it should have been posted on here |
If they didnt want it out there then I'm sure it could have been avoided. | | | |
| Trust Update... on 20:47 - May 18 with 8083 views | Jackfath |
| Trust Update... on 20:45 - May 18 by max936 |
Cheers for that, I'm notsure what to really make of it, but I thought the mediation with the Owners as taken its course and achieved little if anything? |
You're not a member. You shouldn't have read it. | |
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| Trust Update... on 20:47 - May 18 with 8068 views | marchamjack |
| Trust Update... on 20:37 - May 18 by Jackfath |
Did you read the first paragraph? |
So angry reading that 1st para.
Our Trust
The fans Trust
Could not look to alienate themselves more from the wider Swans fansbase, and us fckn Members indeed, by such pompous, self-aggrandising nonsense...don't share it (ssshhh keep it secret) and don't read it if you're not a Member.
Fuming
Can't believe I'm a fully paid up Member of such an insular, inwards looking body | |
| Oh,..Dave, what's occuring? |
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| Trust Update... on 20:47 - May 18 with 8061 views | IAN05 |
| Trust Update... on 20:45 - May 18 by Rancid |
If they didnt want it out there then I'm sure it could have been avoided. |
Would imagine GDPR legislation has influenced much of the opening paragraph. Can't imagine that they really thought it wouldn't be shared. | | | |
| Trust Update... on 20:48 - May 18 with 8056 views | SwansNZ |
| Trust Update... on 20:42 - May 18 by Rancid |
'If you're not a member then please don't read it'
😂😂😂 |
What does it say? I was not allowed to read past the 2nd line. |  |
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| Trust Update... on 20:48 - May 18 with 8056 views | pencoedjack |
Marcham your going to clink  |  | | |
| Trust Update... on 20:49 - May 18 with 7997 views | Phil_S |
| Trust Update... on 20:47 - May 18 by IAN05 |
Would imagine GDPR legislation has influenced much of the opening paragraph. Can't imagine that they really thought it wouldn't be shared. |
That'll be nothing to do with GDPR |  | | |
| Trust Update... on 20:49 - May 18 with 7975 views | Jackfath |
| Trust Update... on 20:48 - May 18 by SwansNZ |
What does it say? I was not allowed to read past the 2nd line. |
I'm not allowed to tell you. | |
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| Trust Update... on 20:49 - May 18 with 7978 views | AngelRangelQS |
| Trust Update... on 20:44 - May 18 by NeathJack |
There are a number of journo's that are Trust members. To think it would only be read by Trust members and not circulated more widely is bizarre. |
I know that but what chance to the trust stand if they ask people not to share things and they come straight on here and do the very thing they’re asked not to do. If a journo posts it then at least it hasn’t come from a fan.
Not that it says anything remotely interesting really | | | |
| Trust Update... on 20:49 - May 18 with 7975 views | NeathJack |
More mediation eh?
Colour me not in the slightest bit shocked. | | | |
| Trust Update... on 20:49 - May 18 with 7967 views | Phil_S |
| Trust Update... on 20:44 - May 18 by Wingstandwood |
I wrote/predicted on here a few weeks back that we were all likely to see a PR-sleight-of-hand load of b@llocks along the lines of stuff advocating a necessity to Build bridges, being united for the good of the club, working in partnership. Blah, blah, blah!!!!
And thats exactly the cr@p scenario that has come true! It's an atrocity against decency and common sense. Like a dog rolling over to be repeatedly kicked. Is it any shock that Jenkins is still here? |
Isn't it basically saying that the Trust is taking the first natural step of legal action? | | | |
| Trust Update... on 20:50 - May 18 with 7926 views | builthjack |
| Trust Update... on 20:49 - May 18 by Phil_S |
Isn't it basically saying that the Trust is taking the first natural step of legal action? |
Looks like it |  |
| Swansea Indepenent Poster Of The Year 2021. Dr P / Mart66 / Roathie / Parlay / E20/ Duffle was 2nd, but he is deluded and thinks in his little twisted brain that he won. Poor sod. We let him win this year, as he has cried for a whole year. His 14 usernames, bless his cotton socks.
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