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Post by lakelandterrier on Jun 20, 2015 12:44:34 GMT
Just thinking here guys.. Could The Trust not threaten court action against AJ & JN? At the next of the day they have excluded and withheld information (as in Potential Investors) from a major shareholder (the trust). Surely this cannot be allowed and The Trust could have a valid instruction here?... Thoughts?
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Post by oldhamblue on Jun 20, 2015 12:58:52 GMT
Depends which of the 'boards' they are on......if you read the Lord Clarke piece he said that the main board are separate to the operating board or some such....
anyway - the BoD will be looking to threaten legal action against the Trust very soon imo - or will Comical Andy come out and outright deny this.....? (Not that many would believe a word he says now anyway)
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Post by seesaw50 on Jun 20, 2015 13:24:14 GMT
Depends which of the 'boards' they are on......if you read the Lord Clarke piece he said that the main board are separate to the operating board or some such.... anyway - the BoD will be looking to threaten legal action against the Trust very soon imo - or will Comical Andy come out and outright deny this.....? (Not that many would believe a word he says now anyway) It`s still obvious from this post that fans don`t understand the 2 Boards of Directors in play at the club. CUFC Holdings Ltd is the "Ownership" arm - AJ, JN, The Trust, and AN Other make up the Board of this Company. CUFC 1921 Ltd is the day to day running of the club arm - AJ JN NS (for the Trust) Dick Young and Lord Clarke make up the Board. (and poss 1 other, SP or not, if he has really resigned) In any event the Board of Holdings have taken a bi-lateral decision to halt AL`s proposal, that is AJ and JN together, without consulting The Trust, the other major shareholder/owner. Why?..............imo.... because the Trust remain a thorn in the side of AJ and JN because of historic sqabbles, to be tolerated but not considered as relevant by them....AND they believe the Trust to be with AL, while they have decided after many months that AL`s plan is not what they actually want.....for reasons best known to themselves! You know, this "friend" of the club as JN referred to AL as being, live on BBC Radio Cumbria, the last time he took part in a phone in I believe.
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Post by CCU on Jun 20, 2015 13:35:20 GMT
Remember the last time the Trust did something similar? Cost the Club £'s...
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flatcap
Youth Team Player
Posts: 292
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Post by flatcap on Jun 20, 2015 14:40:34 GMT
No it didn't. The dispute was between Fred and the Trust and the court ruled that Fred had to pay the costs not the club.
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pacirv
Bench Warmer
Posts: 1,008
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Post by pacirv on Jun 20, 2015 15:02:54 GMT
Is this set up normal in a football club, it all sounds a bit dodgy to me.
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Post by CUFCDeano on Jun 20, 2015 15:07:05 GMT
Depends which of the 'boards' they are on......if you read the Lord Clarke piece he said that the main board are separate to the operating board or some such.... anyway - the BoD will be looking to threaten legal action against the Trust very soon imo - or will Comical Andy come out and outright deny this.....? (Not that many would believe a word he says now anyway) It`s still obvious from this post that fans don`t understand the 2 Boards of Directors in play at the club. CUFC Holdings Ltd is the "Ownership" arm - AJ, JN, The Trust, and AN Other make up the Board of this Company.CUFC 1921 Ltd is the day to day running of the club arm - AJ JN NS (for the Trust) Dick Young and Lord Clarke make up the Board. (and poss 1 other, SP or not, if he has really resigned) In any event the Board of Holdings have taken a bi-lateral decision to halt AL`s proposal, that is AJ and JN together, without consulting The Trust, the other major shareholder/owner. Why?..............imo.... because the Trust remain a thorn in the side of AJ and JN because of historic sqabbles, to be tolerated but not considered as relevant by them....AND they believe the Trust to be with AL, while they have decided after many months that AL`s plan is not what they actually want.....for reasons best known to themselves! You know, this "friend" of the club as JN referred to AL as being, live on BBC Radio Cumbria, the last time he took part in a phone in I believe. You're right, CUFC Holdings Ltd is the 'ownership' arm, but as far as the Board of Directors goes, only John Nixon and Andrew Jenkins are on the BOD of the Holding's company. Norman Steel (representing the Trust) is only on the BOD of CUFC 1921 Ltd. This is why the Trust currently know nothing. They're not entitled to (legally) know anything at this stage. Andrew Lapping's proposal involved having Norman Steel (or the Chairman of the Trust - whomever that may be) on the BOD of the Holdings company too.
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Post by seesaw50 on Jun 20, 2015 15:37:47 GMT
well Deano that is not what I understand and have it from the "horses mouth" so to speak that the Trust is part of the Holdings Board, due to the stake they bought. It may be however, that when we say "the Trust" we mean the body and not NS, who we all know is the Trust`s rep. on the BoD of 1921LTD. But it begs the question how can AJ and JN take such an important decision without the views of all stakeholders in Holdings Edit to add: However, as they are the major shareholders they must be able to act as they wish!
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Post by CCU on Jun 20, 2015 15:40:16 GMT
No it didn't. The dispute was between Fred and the Trust and the court ruled that Fred had to pay the costs not the club. Who mentioned costs? The negativity and uncertainity cost the Club some sponsors, put off some fans, and various other bits and bobs. This all equalled £'s...
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mush
Reserves Squad
The Great Border City
Posts: 995
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Post by mush on Jun 20, 2015 16:05:24 GMT
Who's that bloke on your aviator?
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Post by CCU on Jun 20, 2015 16:11:05 GMT
Who's that bloke on your aviator? Bamber Gascoigne - He's no aviator though...
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mush
Reserves Squad
The Great Border City
Posts: 995
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Post by mush on Jun 20, 2015 16:23:22 GMT
Cheers. Whatever they call it!
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Post by gannadan on Jun 20, 2015 16:29:17 GMT
Who's that bloke on your aviator? Bamber Gascoigne - He's no aviator though... He may of been if the wind had caught that hair...
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Post by gateswasgod on Jun 20, 2015 18:58:08 GMT
No it didn't. The dispute was between Fred and the Trust and the court ruled that Fred had to pay the costs not the club. Who mentioned costs? The negativity and uncertainity cost the Club some sponsors, put off some fans, and various other bits and bobs. This all equalled £'s... So the correct statement is...'Fred forced the Trust into legal action to protect its interests, regardless of the cost to the club' !
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