CONFIMRED - The final countdown

[Sutekh]

One interesting thing s the judge queried why the club couldn't be sold anyway. Tells counsel the claim can be handled , with a sum of cash put into escrow , to allow that to drag through the court system.

Also - EFL have insisted that Dai resign. (yesterday from EFL)

In effect counsel are leveraging that if that does happen the club folds. Defence argue this is a hijack of events - forcing Redwood to give ground.

If the FL insist Dai must resign then doesn't the club have just 28 days to be sold or risk ejection from the FL?

[Silver Fox]

Judge clear the Couhig position shouldn't block a sale if funds can be placed in escrow for that hearing.

But that means Dai doesn't immediately receive the proceeds and has no guarantee he'll eventually receive them. Doesn't feel like a solution to me, unless Dai hates Couhig enough to agree to it.

Dai's not actually serious about selling or he'd have sold ages ago.

Hasn't he basically agreed a deal with Platek?

[Snowflake Royal]

Judge clear the Couhig position shouldn't block a sale if funds can be placed in escrow for that hearing.

But that means Dai doesn't immediately receive the proceeds and has no guarantee he'll eventually receive them. Doesn't feel like a solution to me, unless Dai hates Couhig enough to agree to it.

Dai's not actually serious about selling or he'd have sold ages ago.

Hasn't he basically agreed a deal with Platek?

Which hasn't happened despite not actually being blocked Court action.

Didn't he agree a deal with Couhig? How'd that go.

[Sutekh]

An odd analogy from Couhig's lawyers on house selling and mortgages. He was paid back his loans in full with interest, so there is no mortgage. The issue is the legal fees he incurred.

So an analogy would be paying for mortgage application, survey fees and conveyancing on a house sale that doesn't happen. Which happens to people all the time and the law simply says "tough shit" and moves on.

Well that's presumably wrong otherwise the sale would have happened.

[Stranded]

According to those following on Twitter, the club are stating the would be open to putting 6m of any sale proceeds into escrow.

Judge closing in on his judgement.

[Whore Jackie]

According to those following on Twitter, the club are stating the would be open to putting 6m of any sale proceeds into escrow.

Judge closing in on his judgement.

35 minutes of closing remarks.

Injunction denied. In his opinion the sale can technically go ahead, but Couhig's charges remain. Escrow arrangement should be considered and a percentage of sale proceeds should be held ahead of the hearing in June.

[Hound]

Massive thanks to El Diablo for those excellent updates

[Stranded]

So club can be sold - Xm needs to go in escrow.

New case in June but EFL look set to disqualify Dai by April 4th.

These seem to be the headlines - so essentially Dai either takes what he can now and may get the rest later or he kills us off.

All pretty clearcut now really - even though not much has really changed.

[windermereROYAL]

So in simple terms does this mean a sale can go ahead? and what is escrow?

[Snowflake Royal]

Great Reportage people.

[Hendo]

So in simple terms does this mean a sale can go ahead? and what is escrow?

A spanish blackbird.

[Snowflake Royal]

So in simple terms does this mean a sale can go ahead? and what is escrow?

#eductedguess

Escrow is like a safe account managed by an impartial third party that will release funds to the right party at the end of process.

Bit like the deposit protection scheme for renting... maybe.

[Pepe the Horseman]

So basically nothing has changed.

[Hound]

So club can be sold - Xm needs to go in escrow.

New case in June but EFL look set to disqualify Dai by April 4th.

These seem to be the headlines - so essentially Dai either takes what he can now and may get the rest later or he kills us off.

All pretty clearcut now really - even though not much has really changed.

It feels a positive in at least it’s coming to a head

No more delaying or going back on sales agreements. It’s either sell or bust in the next few months

[Hound]

Is there the option to still sell to couhig at the original price and all this goes away quickly?

Or is couhig no longer interested in that?

[Winston Biscuit]

This could be just the reset we need tbh

[WestYorksRoyal]

Is there the option to still sell to couhig at the original price and all this goes away quickly?

Or is couhig no longer interested in that?

Yes. That is Couhig's preferred outcome.

We're reaching the end game now for better or worse.

[Whore Jackie]

Is there the option to still sell to couhig at the original price and all this goes away quickly?

Or is couhig no longer interested in that?

Bet Couhig would snap Dai's hand off for that. Suspect Dai would rather sell to anyone other than Couhig and Rob probably knows that hence the court case.

Reckon Dai will take the potential £6m (escrow) hit and finalise the deal with Platek.

[Sutekh]

Is there the option to still sell to couhig at the original price and all this goes away quickly?

Or is couhig no longer interested in that?

El Diablo’s last update suggests selling to RC is still an option (“ Redwood still want to buy “).

As I see it the basic situation now is the ball is with Dai. He has 3 options

1. complete the Platek deal and hopes he wins in June to get the £6m security back
2. sell to Couhig (presumably for less) and the June case goes away
3. fold the club and lose everything

Think 3 is definitely out, personally I’d hope for 1.

[El Diablo]

Massive thanks to El Diablo for those excellent updates

Thanks - new career in court reporting on the cards!