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Barton and the Oystons

Monkeh

By Monkeh
in Football Chat

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Monkeh

Monkeh

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Found this an interesting read on the Beeb,

How many times have the oystans sued fans who have called them asset strippers and the like, well it seems the courts agree with the fans and Joey Barton (of all people)

 

Joey Barton says his lawyers will try to recoup a settlement fee he paid to Blackpool's owners in 2015.

Having described the Oyston family as "asset strippers", ex-Burnley midfielder Barton was threatened with legal action and settled out of court.

On Monday, a High Court judge ruled the Oystons had "abused their majority powers to the detriment" of Blackpool.

When asked by a Twitter user if he would reclaim his money, Barton wrote: "Have lawyers on it as we speak."

He added: "I was threatened with litigation and had to give these people £20k for saying exactly this."

In his ruling, Mr Justice Marcus Smith ordered the Oyston family to buy out minority shareholder Valeri Belokon for £31m.

Belokon, who brought the action against the Oystons, had accused the family of unfair prejudice against shareholders.

After ruling in his favour, the judge said a "financial buyout" was the appropriate course and that an initial £10m should be paid within 28 days.

In a statement, Belokon said he "always questioned the large payments" from Blackpool to companies owned by Owen and Karl Oyston following promotion to the Premier League in 2010.

He said: "In finding that those payments were disguised dividends to the Oyston family, today's judgment vindicates what we have all been saying.

"The judgment reveals clearly for the first time the full extent of those payments and provides transparency as to how the club has been run."

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Monkeh

Monkeh

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the other story that goes with this (the court case)

The Oyston family has lost a High Court battle with businessman Valeri Belokon over Blackpool FC and has been ordered to buy him out for £31m.

His company, VB Football Assets, a minor shareholder in Blackpool, brought an action against the Oystons.

Mr Belokon alleged the Oystons had shown unfair prejudice against shareholders during a civil trial.

Owen Oyston, Blackpool's majority shareholder, and his son Karl, the club chairman, denied the accusations.

Mr Justice Marcus Smith ruled a "financial buyout" was the appropriate course following his findings.

Blackpool will now have to purchase the interests of VB Football Assets for £31.27m.

The Oystons were refused permission to appeal but it is open to them to apply directly to the Court of Appeal in an attempt to take their case further.

The judge ruled that an initial £10m should be paid within 28 days.

In his ruling, Mr Justice Smith said the Oystons had "abused their majority powers to the detriment" of both Mr Belokon and Blackpool FC.

Valeri Belokon

In a statement, Mr Belokon said he had "always questioned the large payments" from Blackpool FC to companies owned by Owen and Karl Oyston following promotion to the Premier League.

He said: "In finding that those payments were disguised dividends to the Oyston family, today's judgment vindicates what we have all been saying.

"The judgment reveals clearly for the first time the full extent of those payments and provides transparency as to how the club has been run."

Mr Belokon said his involvement in the club was "uncertain at this time" but added: "What I am certain of is that, with the fan's support, today's judgment could mark a turning point in the club's fortunes."

'Game changer'

Tim Fielding, honorary vice president of Blackpool Supporters' Trust, was in court along with more than 50 other fans.

Describing the mood among those present as "jubilant", he said: "It's a massive game changer. The figures that they [the Oyston family] would have to pay to keep hold of the football club are huge.

"We are hoping that this will see regime change. I think the reality is they will have to find a buyer for the club. This is what we have been fighting for for the last four years, and it's come to fruition."

Lawyers for VB Football Assets complained both Mr Belokon and his nominated directors were excluded from key decisions, information and a share of profits.

The Oystons gave evidence that all financial transactions were conducted in an open and transparent manner.

Mr Justice Smith said there had been "unfair prejudice".

Latvian Mr Belokon, who resigned as a director of the club in August, accused the Oystons of improperly extracting tens of millions of pounds from the Lancashire club's funds after it enjoyed a "jackpot" when winning promotion to the Premier League in 2010.

He claimed the family had treated the club as "their own personal cash machine" and said he felt betrayed by their actions.

The claim was also brought against Blackpool FC Ltd itself and Blackpool FC (Properties) Ltd, a company with Oyston family links and formerly known as Segesta.

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BRISTOL86

BRISTOL86

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Bizarre story. But why would Barton settle out of court if he’d committed no wrongdoing? Surely speaking the truth isn’t something you can be sued for?

I guess £20k is nothing to him to get rid of an annoying problem but you’d think he’d be the sort of person that would rather spend £50k fighting it than just forking over hush money. 

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Cambridge Batch Red

Cambridge Batch Red

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On 07/11/2017 at 15:54, BRISTOL86 said:

Bizarre story. But why would Barton settle out of court if he’d committed no wrongdoing? Surely speaking the truth isn’t something you can be sued for?

I guess £20k is nothing to him to get rid of an annoying problem but you’d think he’d be the sort of person that would rather spend £50k fighting it than just forking over hush money. 

The cost of litigation is exorbitant - sometimes it makes sense to settle out of court - it's not worth throwing good money after bad. Hope Barton gets it back.

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joe jordans teeth

joe jordans teeth

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On 07/11/2017 at 15:54, BRISTOL86 said:

Bizarre story. But why would Barton settle out of court if he’d committed no wrongdoing? Surely speaking the truth isn’t something you can be sued for?

I guess £20k is nothing to him to get rid of an annoying problem but you’d think he’d be the sort of person that would rather spend £50k fighting it than just forking over hush money. 

He said he's a multi millionaire on talksport the other day when asked about management,I'm sure he's happy to write off a couple of grand rather than go to court against other millionaires and take a major hit 

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BRISTOL86

BRISTOL86

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2 hours ago, joe jordans teeth said:

He said he's a multi millionaire on talksport the other day when asked about management,I'm sure he's happy to write off a couple of grand rather than go to court against other millionaires and take a major hit 

Surely the more money you have the more you’d be willing to spend defending it rather than give money to those sleaze bags. But I can see the argument. 

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reddoh

reddoh

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26 minutes ago, BRISTOL86 said:

Surely the more money you have the more you’d be willing to spend defending it rather than give money to those sleaze bags. But I can see the argument. 

which sleaze bags?

the oystons (allegedly)

or

the lawyers (um er allegedly)

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kiwicolin

kiwicolin

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The referee Ben Toner has been taken off Blackpool’s League One match against Portsmouth, days after the majority owner, the Oystons, were found by a high court judge to have operated an “illegitimate stripping” of the Lancashire club.

It' not April fools day but it's funny :yes:

 

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