Chaisty says the EFL letter of August 7th deals with Elliott and insists the sale and purchase agreement not conditional. Mihail provided statement to EFL that sale was complete on June 8th.
Mihail wrote to EFL confirming the club was sold to Elliot.
The only thing that Elliot has is the money thing... however, if I put money into a bank account that isn’t owned by me, then what right do I have to that money?
Transfer £5k into my account and I’ll answer your question
My guess is judge will not grant injunction, but will direct that there is nothing to stop Elliot pursuing TN / Panorama Magic / ESI through the courts to recover any money put in and any costs / damages.
That would be a good outcome as they sell then fight each other for what they can get but neither can harm us further.
The only thing that Elliot has is the money thing... however, if I put money into a bank account that isn’t owned by me, then what right do I have to that money?
Depends if the account holder has given you third party signing authority 😉.
Mihail has been demolished for inconsistency in these opening arguments. Though Chaisty is alternately rubbishing him then using other statements he's made. MM is all over the place with his unsubstantive and vague submissions.
Chaisty referencing documentation that shows Mihail - acting on behalf of Nimer - on June 8 had supplied confirmation on club headed notepaper that Panorama had sold their shares to Elliott.
Fair enough let it go to trial as Nimer v Elliott but hopefully the judge will see that as a separate issue and allow the sale of the club which is ultimately all we care about
My guess is judge will not grant injunction, but will direct that there is nothing to stop Elliot pursuing TN / Panorama Magic / ESI through the courts to recover any money put in and any costs / damages.
They have an agreement from May, and we've got to September without them buying, yet they would have us believe the sale wasn't conditional on EFL approval. So what the hell is the hold up? The agreement should clearly have had a time limit, but Elliot(t) is going to have to work very hard to convince the judge he has suffered harm when he couldn't pull his finger out and get the purchased completed within 4 months. Elliot(t)'s lawyer is litterally arguing that there is no reason for the hold up other than Elliot(t) no being bothered to get it done, and now upset that somebody else is willing to get it done.
Farnell has said many times that the purchase was on condition on PE passing the EFL tests.
Yes he has, but PE's lawyer has just contradicted that. If PE bought the club on June 8th then he has broken the law by not updating companies' house. There is no conceivable reason that CH wasn't updated other than that they didn't buy the shared on June 8th.
Judge asks what Chaisty hopes to achieve with a trial...
Chaisty: With goodwill on both sides, a quick resolution (not quite sure that answers the question). Adds that there's a court space in November.
Chaisty: "We're talking weeks not months"
1We don't know the terms of the agreement it sounds to me that Elliott has a good chance unless the contract (a) it had a time limit which has expired (too black and white, doubt it is that) or (b) conditions precedent to the sale which have not or cannot be satisfied by ESI2 (e.g. EFL approval) or (c) the agreement has been voided by the actions of one or other party. (b) and (c) will be likely areas for dispute
I find it hard to believe Elliot of ESI2 put money into the club without taking any equity or as a loan. Why woudl anyone do that?
Comments
Best news for CAFC if so
But then mentions there is availability at the court in November.
Not very bright these lawyers are they...
What about if Farnelliott has told Chaisty to go for getting temp injuction, so he can go for a higher payoff in the next couple of days? Slimey c***
I find it hard to believe Elliot of ESI2 put money into the club without taking any equity or as a loan. Why woudl anyone do that?
A trial is not good news and Elliott knows this... If he wins that god knows what he'll try to charge TS to buy the club!
This is awful and very worrying.