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28 minutes ago, OwlsAustralia said:

Lawyers will be the big winners as always is the case. Good on the Chairman for standing up for the club and himself. We shall see how deep his pockets are now and how good a case the EFL really do have? Without knowing the intricate details I get the feeling the EFL feel they can just roll over the top of clubs, but might have met their match here.

 

I think the majority can agree that DC has only every tried to do the right thing for the club - he may have been naive and often taken the wrong route but he only wants the best and he deserves our support.

 

BTW if we drag this through the courts for months and get promoted what happens then ?

I would imagine that we will use his dads companies legal team who will be on a salary to fight this so costs won't be a concern 

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2 minutes ago, darra said:

I would imagine that we will use his dads companies legal team who will be on a salary to fight this so costs won't be a concern 

Why should his dad's legal team get involved? 

How do EFL treat legal expenses when dealing with FFP or sustainability or whatever? 

Probably charge DC for using funds he's not supposed to spend under the umbargo.

What a crazy world.

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Cannon to right of them

Cannon to the left of them

Cannon to the  front of them

Volleye'd and thunder'd

Stormed at with shot and shell

Boldly they rode and well

into the jaws of the EFL

Rode the Wednesday FC

 

 

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Go on Dejphon

 

This whole situation strikes me as the EFL deciding retrospectively that what we did was wrong.

I'm not an accountant, so happy to be put right on this, but unless the EFL have stated their own bespoke accounting practices, then presumably the default is standard industry practice.

If we've followed general accounting practice, then the EFL are way out on a limb here.

If DC asks "where does it say I can't do this?" and the EFL have no answer, then they're f*cked, and we should take them to the cleaners

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Late into the evening, pack of fags, bottle of scotch, notepad and paper.....it's DC's way. 

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I so hope we come out smelling of roses.  I just cannot see it though. Isn’t the major thing the EFL are questioning the year the sale of the ground  went in the accounts? Or am I getting things wrong?

 

I really hope DC smashes them and we come out on top. 

 

 

 

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Well, looks like we’re balls deep up to the clutch pads. Hopefully we are able to back the rhetoric up.

 

Sale and lease back as grubby as it is (just look at your local High Street dying on its arze) is quite a normal business practice which presumably has been signed off by accountants.

 

Like most things there’s probably politics behind the scenes driving agendas. I’m not a happy clapper, far from it but there’s no other option but to back your football club.

 

Id be interested to know how our action against Newcastle is going or has that been swept under the carpet?

 

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2 hours ago, prowl said:

 If you were previously a bankruptcy  accountant or advisor you know your statement is disingenuous  Liabilities exceeding assets isn't necessarily a problem if investors are prepared to support a fundraising.

 

SW is not like a company with shareholders. This company effectively has one shareholder, Chansiri. If the value of the assets is low DC writes a cheque.

 

 

Until he doesn’t. 

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8 hours ago, rickygoo said:

Guilty of dragging the club into insolvency.

 

:ghoulguy::ghoulguy::ghoulguy:  FAR TOO EXCITED !

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2 hours ago, Halifax Owls said:

Well, looks like we’re balls deep up to the clutch pads. Hopefully we are able to back the rhetoric up.

 

Sale and lease back as grubby as it is (just look at your local High Street dying on its arze) is quite a normal business practice which presumably has been signed off by accountants.

 

Like most things there’s probably politics behind the scenes driving agendas. I’m not a happy clapper, far from it but there’s no other option but to back your football club.

 

Id be interested to know how our action against Newcastle is going or has that been swept under the carpet?

 

Yeah and the hirst thing, if we got money for that for instance might have been helpful -  the EFL/PL should have come down strong on that one, might be wrong but not heard anything myself

 

we get punished for another loophole people have used - they signed it off, and now with gibson's complaints looked at it trying to find something wrong

 

Can only support the club and see where we end up on this one!

 

 

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Aye, the EFL "rules" which are solely devised to keep the prem a closed shop. Failure payment for relegated prem clubs, while introducing FFP, which again are to keep the Prem a closed shop, to "stop clubs going out of business", while Bury have gone out of business, Macclesfield could be next, Bolton, Coventry, Blackpool almost did. Prem clubs using loopholes to avoid paying compensation for lower league young players. The "Fit and Proper Persons test", which does everything apart from make sure fit and proper people own clubs. English football needs a total wipeout FIFA style, to get rid of the corrupt, inhouse nature of the governing bodies, and level the playing field so clubs actually have a chance at being promoted and a fair chance is had.

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6 hours ago, Morepork said:

 

Indeed, its an interesting development and the club statement is quite unequivocal. It potentially opens the door for some form of mediation if for instance those involved at the EFL hadn't supplied all relevant information to their legal representatives, all speculation and conjecture of course.

 

Obviously, I'm pleased to see DC fighting and hope for a positive outcome but none of this should distract from the underlying reasons of why we are in this position. 

I think DC is opening the door for 'proper' legal action by us....... should he feel that we get shafted in an EFL kangaroo court, as we did with FF

 

Feels like a sensible approach as it puts some pressure back on them

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12 hours ago, Mycroft said:

Wednesday aggro hello hello

Wednesday aggro hello hello

 

 

UTO.

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‪EFL will probably try and  come down on us harder now but fair play to the club taking it to them. About time other clubs did the same. EFL will hate this publicity and may back down and re-think this ridiculous system.
 

Fully supporting Chansiri. 

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9 hours ago, Sergeant Tibbs said:

Is he as good as Petrocelli ?

 

oh yes, rumpole would get us off this, open and shut case if our statement holds water 

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I'll post this here as it may get more attention. - https://soundcloud.com/user-611094179/pub-statement?fbclid=IwAR2tl-q1QNEjNmDZ0o50WfYMPurUtfOC7TzHQ04INO6PMPctrAZ-1azhtno

 

 

Great chat on the Owls Americast, between them the lads cover pretty much most of what we know about the issues facing the club. A really a worthwhile listen.

 

Edited by Morepork

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I always thought anything to do with the EFL was all dealt with internally.

That any dispute could not be subject to a real legal challenge in proper courts as all clubs agreed to the EFL as the ruling body.

How will this get to 'real' court?

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6 minutes ago, The Horse said:

I always thought anything to do with the EFL was all dealt with internally.

That any dispute could not be subject to a real legal challenge in proper courts as all clubs agreed to the EFL as the ruling body.

How will this get to 'real' court?

I think the point is that our accountant/auditor signed off the accounts, compliant with HMRC and importantly we sought permission from the EFL for the ground sale before proceeding and received authorisation, subsequently having the accounts ratified when submitted.

 

The EFL have now retrospectively raised this issue and quite correctly DC will reserve the right to use the law to intervene if necessary.

 

Pressure firmly on the EFL now, they dont have unlimited resources to pursue and if the evidence noted in our statement is accurate, don't think they would win. 

 

I'm not happy this situation has arisen, (only a matter of time due to idiotic and outdated FFP rules) but proud we are taking a stand. 

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30 minutes ago, The Horse said:

I always thought anything to do with the EFL was all dealt with internally.

That any dispute could not be subject to a real legal challenge in proper courts as all clubs agreed to the EFL as the ruling body.

How will this get to 'real' court?

Because sports governing bodies are expected to apply the principles of public law.

 

Club isn't arguing that it didn't get into a mess but that it fully communicated with EFL throughout, sought agreement with h them to go ahead with transaction and were told throughout that it was ok, then after event charged them with doing same action they had already agreed. Under this the argument is that by raising the charges they are unlawful under public law.

 

Also, club is disputing the content of charges that they did nothing wrong and it was valid to include the sale in the 2018 accounts.

 

I'd still give club benefit of doubt on 2nd point as a the accounting treatment and evedence would have been examined by the auditors.

 

Edited by wellbeaten-the-owl
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