BAILII is celebrating 24 years of free online access to the law! Would you consider making a contribution?
No donation is too small. If every visitor before 31 December gives just £5, it will have a significant impact on BAILII's ability to continue providing free access to the law.
Thank you very much for your support!
[Home] [Databases] [World Law] [Multidatabase Search] [Help] [Feedback] | ||
England and Wales High Court (Chancery Division) Decisions |
||
You are here: BAILII >> Databases >> England and Wales High Court (Chancery Division) Decisions >> VB Football Assets (VBFA) v Blackpool Football Club (Properties) Ltd & Ors [2018] EWHC 254 (Ch) (05 February 2018) URL: http://www.bailii.org/ew/cases/EWHC/Ch/2018/254.html Cite as: [2018] EWHC 254 (Ch) |
[New search] [Printable RTF version] [Help]
BUSINESS AND PROPERTIES COURT OF ENGLAND AND WALES
CHANCERY DIVISION
COMPANIES COURT
Fetter Lane London EC4A 1NL |
||
B e f o r e :
____________________
VB Football Assets (VBFA) |
Petitioner |
|
- and - |
||
(1) Blackpool Football Club (Properties) Limited (formerly Segesta Limited) (2) Owen Oyston (3) Karl Oyston (4) Blackpool Football Club Limited |
Respondents |
____________________
Matthew Collings QC (instructed by HHB Solicitors) appeared on behalf of the First to Third Respondents
Hearing date: 5 February 2018
____________________
Crown Copyright ©
Mr. Justice Marcus Smith
"The first option, and to be fair to him, Mr. Green did not advocate for this, is simply to say that the monies due consequent upon my judgment should simply be paid now. That would involve an acknowledgment that the course that I strived to achieve on handing down judgment, which was to balance the interests of the Respondents, to give them time to pay, and the interests of the Petitioner to ensure security of payment, had failed. I have to say that the absence of satisfactory evidence is a very strong pointer to simply cutting the Gordian knot and leaving Mr. Green and his clients to their remedies. But I have very much in mind that there is an application for permission to appeal and there is an attempt to expedite it. It does seem to me, accepting as I do, in the abstract, that there are cash flow difficulties, even without any assurance on the evidence as to the particular state of the Oyston Group, that it would be wrong to take this course."
"I have now obtained terms for a loan of 10 million from a company that manages loan activities for an offshore investor. I attach a copy of that loan offer as exhibit AMA 1. This is a formal offer, which we are proceeding with now."
"You should not enter into any financial commitments based on this in principle offer."