andy g Posted March 19, 2008 Report Share Posted March 19, 2008 looks like Cardiff are going to get away with it again...(from PA) FA Cup contenders Cardiff City were rescued from the brink of financial disaster today when a High Court judge rejected a bank's pre-emptive bid to secure immediate repayment of up to #24 million. Swiss investment bank Langston is suing the club over loan notes which it holds and had sought "summary judgment" - meaning the club should pay up now. But Mr Justice Briggs, sitting in London, dismissed the claim for summary judgment. As a result, the case will go forward to a full trial of the complex issues involved. Link to comment Share on other sites More sharing options...
sephjnr Posted March 19, 2008 Report Share Posted March 19, 2008 Considering Hammam was the ####### who undertook the loan in the first place, it's actually good news that he won't be allowed to claim it back so soon... I wonder if that was the deciding (sole?) factor. Link to comment Share on other sites More sharing options...
bh_red Posted March 19, 2008 Report Share Posted March 19, 2008 to be totally honest, much as I hate Cardiff, I don't think they have done alot wrong, most of the problems seems as always to be related to Sam bloody Hamman!to think, he tried to buy City as well! thank god he was told where to go! Link to comment Share on other sites More sharing options...
bartolona Posted March 19, 2008 Report Share Posted March 19, 2008 As a result, the case will go forward to a full trial of the complex issues involved.Which is the best outcome for us imo and that's all i care about. Link to comment Share on other sites More sharing options...
walshy-shuffle-carl-shutt Posted March 19, 2008 Report Share Posted March 19, 2008 Thats good news really cos sam Hamman as good as says he wants to regain control of the club and it was him who bought the action. Link to comment Share on other sites More sharing options...
bernie from barrow gurney Posted March 19, 2008 Report Share Posted March 19, 2008 Which is the best outcome for us imo and that's all i care about.yes, it just means that they may have avoided an immediate repayment of £24m but they will need now to go through a huge complex and very expensive court case to prove they don't need to pay the money back in the long run. It also validates the case for Langstone as the case wasnt thrown out as Ridsdale had originally assumed it would be.So they haven't been shot in the head humanely they have a severe flesh wound and could easily bleed to death as the months drag by. If the judgement had gone against them today they could have gone into administration with a chance of buying the club back on the cheap ken bates style with Leeds and Chelsea. As its stands they are still in very expensive limbo with no sign of a resolution anytime soon.I can't imagine any player will want to go there unless on a short term high paid loan deal. Which would just make things a whole lot worse.what a shame.... Link to comment Share on other sites More sharing options...
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