The unofficial Blackpool thread
Discussion
Still a long way to go.
The actual judgement was that Belokon was to be considered an equal shareholder to the Oystons, so technically both holding 48.x% of BFC with the other 3.x% still in other peoples hands.
But seeing as Belokon is currently banned from being a director/owning a football club by the FA and FL due to him having been found guilty by a Kyrgzstan (I'd never heard of the place) court for his bank being found guilty of money laundering. Apparently the Kyrgzstan legal system doesn't seem to be held in high regard in many circles. They found him guilty even through they had no representation in the court.This came about after Belokon had been awarded $16m by an internation arbitration organisation against the Kyrgzstan government.
So Owen and Karl Oyston + Blackpool FC Properties Ltd (the parent company of BFC) must buy out Belokons shares.
It will also be interesting to see what the FA/FL will do about the Oystons meeting the 'fit and proper persons' test. The Judge is pretty scathing of Owen and Karl in his judgement. So they could potentially pay the £31m to get back 97% control of BFC but be banned by the FA/FL.
Also Joey Barton (yes the footballer) appears to have instructed his lawyers to try and reclaim the £20k he had to pay the Oystons to stop litigation over 'asset strippers' comments he made on the radio about them. Hopefully a some of the fans that also had to payout will also try to get their monies back.
The actual judgement was that Belokon was to be considered an equal shareholder to the Oystons, so technically both holding 48.x% of BFC with the other 3.x% still in other peoples hands.
But seeing as Belokon is currently banned from being a director/owning a football club by the FA and FL due to him having been found guilty by a Kyrgzstan (I'd never heard of the place) court for his bank being found guilty of money laundering. Apparently the Kyrgzstan legal system doesn't seem to be held in high regard in many circles. They found him guilty even through they had no representation in the court.This came about after Belokon had been awarded $16m by an internation arbitration organisation against the Kyrgzstan government.
So Owen and Karl Oyston + Blackpool FC Properties Ltd (the parent company of BFC) must buy out Belokons shares.
It will also be interesting to see what the FA/FL will do about the Oystons meeting the 'fit and proper persons' test. The Judge is pretty scathing of Owen and Karl in his judgement. So they could potentially pay the £31m to get back 97% control of BFC but be banned by the FA/FL.
Also Joey Barton (yes the footballer) appears to have instructed his lawyers to try and reclaim the £20k he had to pay the Oystons to stop litigation over 'asset strippers' comments he made on the radio about them. Hopefully a some of the fans that also had to payout will also try to get their monies back.
Edited by Russ35 on Tuesday 7th November 14:53
king awful bI have an interest in this club simply as I grew up there for some years.
The fans seem to be thinking that Belokon my buy it now. In fact they seem, to be pinning their hopes on it and I hope they are not disappointed.
I know that some folk have been prosecuted and that the Oystons behaved like Lords Of The Manor etc. I have a brother who has boycotted games and used to be very vocal bout doing it in the local paper. He has even persuaded people to remove house sale listings with Oystons.
All well and good. But I do think there are some very unpleasant elements on one of the fans sites. they have a section called scabs. This seems to be devoted to analysing pictures of recent matches and calling people out who attended games quite spiteful and unnecessary names. They make some pretty vile comments on appearance etc.
Recently they did this against a woman who to be fair looked a bit rough, and heaven forbid that she wasn't all glammed up What these people didn't know is that the woman has been and still is very ill. For a while her future looked very bleak, though its now improving. How awful that she should go and watch her beloved club for the first time in a couple of years. How awful that she chose to go somewhere she enjoyed as a treat rather than observe blindly a "ban" on watching her team
Personally I think that parts of that website are pretty disgraceful and shows some of the "fans" to be little more than cheap obnoxious bullies
The fans seem to be thinking that Belokon my buy it now. In fact they seem, to be pinning their hopes on it and I hope they are not disappointed.
I know that some folk have been prosecuted and that the Oystons behaved like Lords Of The Manor etc. I have a brother who has boycotted games and used to be very vocal bout doing it in the local paper. He has even persuaded people to remove house sale listings with Oystons.
All well and good. But I do think there are some very unpleasant elements on one of the fans sites. they have a section called scabs. This seems to be devoted to analysing pictures of recent matches and calling people out who attended games quite spiteful and unnecessary names. They make some pretty vile comments on appearance etc.
Recently they did this against a woman who to be fair looked a bit rough, and heaven forbid that she wasn't all glammed up What these people didn't know is that the woman has been and still is very ill. For a while her future looked very bleak, though its now improving. How awful that she should go and watch her beloved club for the first time in a couple of years. How awful that she chose to go somewhere she enjoyed as a treat rather than observe blindly a "ban" on watching her team
Personally I think that parts of that website are pretty disgraceful and shows some of the "fans" to be little more than cheap obnoxious bullies
Another blackpool connection.
Not exactly covering yourself in glory here trev.....?
http://www.lythamstannesexpress.co.uk/news/crime/f...
Not exactly covering yourself in glory here trev.....?
http://www.lythamstannesexpress.co.uk/news/crime/f...
So it was back to court today with the Oystons asking for more time to pay the latest £10m that was due on 31st Jan. No sign of Karl, and Owen with new legal representatives.There appears to have been a falling out between KO and OO. KO no longer a director on any of the Oyston owned companies including the BFC where he stood down as Chairman last week.
The Judge again didn't seem impressed with the effort being made by Oyston. So he's obviously had enough.
Freezing order stays in place
Remove restrictions and stage payments and allows VB to enforce as he sees fit.
The Judge again didn't seem impressed with the effort being made by Oyston. So he's obviously had enough.
Freezing order stays in place
Remove restrictions and stage payments and allows VB to enforce as he sees fit.
Looks to be getting heavy for Mr Oyston senior and that even Karl knows the games up.
From the local paper.
Owen Oyston has been ordered by a judge to immediately pay up the £25m he owes a minority shareholder – or face the consequences of enforcement action being taken to make him sell his assets. That could potentially mean the football club going into receivership, although the Latvian millionaire Valeri Belokon’s legal representative told the judge his client he would not pursue action against the club.
Owen Oyston was found to have “illegally stripped” the club of money following its promotion to the Premier League in 2010 and was ordered last November to pay £31.27m, plus interest, to Mr Belokon. At a High Court hearing in December, a judge ruled that he could pay in stages. Oyston met the first £10m demand but failed to pay the second tranche by 31 January.
And he returned to the court today to ask for an extension until February 19 for a bridging loan for another £10m to be completed.But Mr Justice Marcus Smith dismissed his application and instead reviewed the whole staging scheme, which included two lots of £7.5m by 30 March and 31 May.
He said Oyston had failed to progress the sale of assets, which had prejudiced Mr Belokon, and the Court of Appeal had now dismissed his application to overturn the original court judgement from last November.“It seems to me that the time has now come for this court to acknowledge that the attempt by the court to hold the ring and to control the enforcement process has failed.
“It therefore seems to me that the only correct course in all the circumstances is to vary the order I made on December 18.”The judge said he was keeping the order in place freezing various assets belonging to the Oyston Group.But apart from that it was now appropriate to remove the staged payments and Mr Belokon can act at his “discretion” in how he enforced the financial obligations on Oyston.The judge added that although Andrew Green QC for Mr Belokon had indicated how his client might proceed, particularly over the football club, the judge said it would be “wrong to regard that as anything more than an aspirational statement.
“And I make it clear that the petitioner’s [Mr Belokon’s] hands are completely untied as far as the assets of the respondent are concerned.”The judge also awarded Mr Belokon an interim costs order for today’s hearing of £60,000.It was standing room only in the court in the Rolls Building in London in the High Court’s Chancery Division. Matthew Collins QC, for Owen Oyston, who attended dressed in a blue suit and matching blue fedora, applied for the two week extension saying a formal loan offer had been made but more time was needed for it to complete.In addition the sale of the Travelodge for £9.725m was “imminent” and should be completed by the end of March.
He also asked for the timetable to be amended so all monies were due by May 31, but abandoned that request during the hearing.Mr Collins said: “There’s no doubt we are in considerable difficulties. The problem may lie in mechanics rather than maths.”He added that the group was asset rich, cash poor and he was asking for leeway to realise assets.The QC said Oyston was keen to avoid “fire sales”, and he also referred to the “stigma” if a receiver was appointed.If Mr Belokon took certain actions if the money became payable immediately, that could affect Blackpool FC, he suggested.“It’s important to preserve the football club operation in the meantime.”Mr Collins said: “Corporate insolvency re Blackpool FC Properties Ltd could be very damaging. It rather depends on what view the Football Association takes.“They have a very wide discretion whether any proceeding like that has an impact on the club and if so they could impose a penalty of 12 points which in Blackpool’s case would lead to relegation.“It would have a commercial impact on the gate receipts and that’s something we want to avoid.”He suggested that Mr Belokon “is not in desperate need of £31m. This is just about the transfer of money between rich people”.Andrew Green QC, for Mr Belokon, opposing the application for more time repeated his comment, made in December, that “enough was enough”.“We have reached a point where the only conclusion is that the current regime is not working to anyone satisfaction and it’s no longer fair to Mr Belokon.”“As Mr Oyston draws out the process by his constant ground hog day applications, this regime is costing Mr Belokon hundreds of thousands of pounds in monitoring their activities and coming back to court on a repeated basis.”Mr Green said: “We are three months down the line and not one asset has been sold.“And there have been multiple offers of sale on the table, not one property has been sold and others, on 13 properties, have been rejected.”Mr Green referred to an email sent to the court that morning by Mr Oyston’s son Karl which confirmed that realistic offers had been made for properties but rejected by his father.He continued : “Owen Oyston is simply incapable of accepting that parts of his property portfolio have got to be sold to meet the payments and he refuses to accept this even when faced with realistic prices.”The court heard that Oyston’s portfolio was put at £142m.The QC suggested that Oyston had refused to obey the court order and “give it a whirl in front of your lordship today”.“That’s simply taking advantage of the regime put in place,” he said.“He is congenitally unable to sell his property portfolio unless there’s a jolly big stick hanging over him.“The totality of the money should now be viewed due and we can enforce.”Mr Green said it would be for Mr Belokon to choose which assets to go after.
He added: “But the course of actions we are suggesting does not involve any threat to the club by Mr Belokon or the potential. Absolutely none at all.“Mr Oyston is a very rich man and has huge assets. If he is a very rich man he can get a £30m loan, pay my client and fund the football club.”A spokesman for Mr Belokon said: “Mr Belokon is pleased with the hearing outcome. He would like to thank Clifford Chance for excellent representation of his interests in the English courts. Mr Belokon will consult his lawyers before future steps.”A spokesman for the English Football League (EFL) said: “The EFL has noted reports relating to the outcome of the latest hearing in the High Court today. The EFL will await further details from Mr Oyston and/or Mr Belokon, as to the possible implications for the club, before commenting any further.”
From the local paper.
Owen Oyston has been ordered by a judge to immediately pay up the £25m he owes a minority shareholder – or face the consequences of enforcement action being taken to make him sell his assets. That could potentially mean the football club going into receivership, although the Latvian millionaire Valeri Belokon’s legal representative told the judge his client he would not pursue action against the club.
Owen Oyston was found to have “illegally stripped” the club of money following its promotion to the Premier League in 2010 and was ordered last November to pay £31.27m, plus interest, to Mr Belokon. At a High Court hearing in December, a judge ruled that he could pay in stages. Oyston met the first £10m demand but failed to pay the second tranche by 31 January.
And he returned to the court today to ask for an extension until February 19 for a bridging loan for another £10m to be completed.But Mr Justice Marcus Smith dismissed his application and instead reviewed the whole staging scheme, which included two lots of £7.5m by 30 March and 31 May.
He said Oyston had failed to progress the sale of assets, which had prejudiced Mr Belokon, and the Court of Appeal had now dismissed his application to overturn the original court judgement from last November.“It seems to me that the time has now come for this court to acknowledge that the attempt by the court to hold the ring and to control the enforcement process has failed.
“It therefore seems to me that the only correct course in all the circumstances is to vary the order I made on December 18.”The judge said he was keeping the order in place freezing various assets belonging to the Oyston Group.But apart from that it was now appropriate to remove the staged payments and Mr Belokon can act at his “discretion” in how he enforced the financial obligations on Oyston.The judge added that although Andrew Green QC for Mr Belokon had indicated how his client might proceed, particularly over the football club, the judge said it would be “wrong to regard that as anything more than an aspirational statement.
“And I make it clear that the petitioner’s [Mr Belokon’s] hands are completely untied as far as the assets of the respondent are concerned.”The judge also awarded Mr Belokon an interim costs order for today’s hearing of £60,000.It was standing room only in the court in the Rolls Building in London in the High Court’s Chancery Division. Matthew Collins QC, for Owen Oyston, who attended dressed in a blue suit and matching blue fedora, applied for the two week extension saying a formal loan offer had been made but more time was needed for it to complete.In addition the sale of the Travelodge for £9.725m was “imminent” and should be completed by the end of March.
He also asked for the timetable to be amended so all monies were due by May 31, but abandoned that request during the hearing.Mr Collins said: “There’s no doubt we are in considerable difficulties. The problem may lie in mechanics rather than maths.”He added that the group was asset rich, cash poor and he was asking for leeway to realise assets.The QC said Oyston was keen to avoid “fire sales”, and he also referred to the “stigma” if a receiver was appointed.If Mr Belokon took certain actions if the money became payable immediately, that could affect Blackpool FC, he suggested.“It’s important to preserve the football club operation in the meantime.”Mr Collins said: “Corporate insolvency re Blackpool FC Properties Ltd could be very damaging. It rather depends on what view the Football Association takes.“They have a very wide discretion whether any proceeding like that has an impact on the club and if so they could impose a penalty of 12 points which in Blackpool’s case would lead to relegation.“It would have a commercial impact on the gate receipts and that’s something we want to avoid.”He suggested that Mr Belokon “is not in desperate need of £31m. This is just about the transfer of money between rich people”.Andrew Green QC, for Mr Belokon, opposing the application for more time repeated his comment, made in December, that “enough was enough”.“We have reached a point where the only conclusion is that the current regime is not working to anyone satisfaction and it’s no longer fair to Mr Belokon.”“As Mr Oyston draws out the process by his constant ground hog day applications, this regime is costing Mr Belokon hundreds of thousands of pounds in monitoring their activities and coming back to court on a repeated basis.”Mr Green said: “We are three months down the line and not one asset has been sold.“And there have been multiple offers of sale on the table, not one property has been sold and others, on 13 properties, have been rejected.”Mr Green referred to an email sent to the court that morning by Mr Oyston’s son Karl which confirmed that realistic offers had been made for properties but rejected by his father.He continued : “Owen Oyston is simply incapable of accepting that parts of his property portfolio have got to be sold to meet the payments and he refuses to accept this even when faced with realistic prices.”The court heard that Oyston’s portfolio was put at £142m.The QC suggested that Oyston had refused to obey the court order and “give it a whirl in front of your lordship today”.“That’s simply taking advantage of the regime put in place,” he said.“He is congenitally unable to sell his property portfolio unless there’s a jolly big stick hanging over him.“The totality of the money should now be viewed due and we can enforce.”Mr Green said it would be for Mr Belokon to choose which assets to go after.
He added: “But the course of actions we are suggesting does not involve any threat to the club by Mr Belokon or the potential. Absolutely none at all.“Mr Oyston is a very rich man and has huge assets. If he is a very rich man he can get a £30m loan, pay my client and fund the football club.”A spokesman for Mr Belokon said: “Mr Belokon is pleased with the hearing outcome. He would like to thank Clifford Chance for excellent representation of his interests in the English courts. Mr Belokon will consult his lawyers before future steps.”A spokesman for the English Football League (EFL) said: “The EFL has noted reports relating to the outcome of the latest hearing in the High Court today. The EFL will await further details from Mr Oyston and/or Mr Belokon, as to the possible implications for the club, before commenting any further.”
Well the Oystons failed to pay the 25 million by Fridays deadline and the Latvian minority shareholder today sent in the bailiffs.
From the local paper.
Valeri Belokon has begun legal enforcement against the Oystons by sending bailiffs to Blackpool’s Bloomfield Road stadium.
Two vans, four bailiffs and representatives from Belokon's lawyers Clifford Chance were situated outside the Blackpool Football Club Hotel, where Owen Oyston's offices are based. His penthouse is also situated in the same area of the stadium as is Denwis Limited, an Oyston-owned company whose principal business activity is described as the ‘letting and operating of own or leased real estate'. The bailiffs departed Bloomfield Road at around 1.45pm and headed towards Oyston-owned Quernmore Hall.
Owen Oyston was ordered to immediately pay up the £25m he still owes Belokon after missing January’s deadline to pay his second installment of £10m. Vans parked outside Blackpool FC Hotel Justice Marcus Smith made it clear that should the money not be forthcoming, Oyston would face the consequences of enforcement action being taken to make him sell his assets.
It is believed Oyston failed to meet a 5pm deadline last Friday and enforcement is now underway. In court last month it was found Oyston had failed to progress the sale of assets, which had prejudiced Mr Belokon, and the Court of Appeal had now dismissed his application to overturn the original court judgement from last November.
The Oystons were ordered to buy out former director Belokon for £31.27m back in November after it was found they had illegitimately stripped the club of cash following promotion to the Premier League in 2010. The judge found Belokon had been unfairly prejudiced and the club was put up for sale four days later.
Valeri Belokon declined to comment when approached by The Gazette, but his representatives wanted to make it clear this enforcement is against Owen Oyston as an individual and not the football club. In a statement, Belokon's advisers at Clifford Chance said: "We can confirm that our client is continuing to take steps to enforce the payment of the judgment debt that is owed to him by Owen Oyston, Karl Oyston and Blackpool Football (Properties) Limited.
"Mr Belokon emphasises that the actions being taken by bailiffs in Blackpool are not directed at Blackpool Football Club Limited or the football related assets. "Mr Belokon continues to have the interests of the club at heart."
From the local paper.
Valeri Belokon has begun legal enforcement against the Oystons by sending bailiffs to Blackpool’s Bloomfield Road stadium.
Two vans, four bailiffs and representatives from Belokon's lawyers Clifford Chance were situated outside the Blackpool Football Club Hotel, where Owen Oyston's offices are based. His penthouse is also situated in the same area of the stadium as is Denwis Limited, an Oyston-owned company whose principal business activity is described as the ‘letting and operating of own or leased real estate'. The bailiffs departed Bloomfield Road at around 1.45pm and headed towards Oyston-owned Quernmore Hall.
Owen Oyston was ordered to immediately pay up the £25m he still owes Belokon after missing January’s deadline to pay his second installment of £10m. Vans parked outside Blackpool FC Hotel Justice Marcus Smith made it clear that should the money not be forthcoming, Oyston would face the consequences of enforcement action being taken to make him sell his assets.
It is believed Oyston failed to meet a 5pm deadline last Friday and enforcement is now underway. In court last month it was found Oyston had failed to progress the sale of assets, which had prejudiced Mr Belokon, and the Court of Appeal had now dismissed his application to overturn the original court judgement from last November.
The Oystons were ordered to buy out former director Belokon for £31.27m back in November after it was found they had illegitimately stripped the club of cash following promotion to the Premier League in 2010. The judge found Belokon had been unfairly prejudiced and the club was put up for sale four days later.
Valeri Belokon declined to comment when approached by The Gazette, but his representatives wanted to make it clear this enforcement is against Owen Oyston as an individual and not the football club. In a statement, Belokon's advisers at Clifford Chance said: "We can confirm that our client is continuing to take steps to enforce the payment of the judgment debt that is owed to him by Owen Oyston, Karl Oyston and Blackpool Football (Properties) Limited.
"Mr Belokon emphasises that the actions being taken by bailiffs in Blackpool are not directed at Blackpool Football Club Limited or the football related assets. "Mr Belokon continues to have the interests of the club at heart."
Its back to court tomorrow morning (Wednesday) where Belkon has an application to have a court receiver appointed as he is still owed £25m by Oyston.
The only catch with that is by EFL rules the appointment of a court receiver is deemed ‘an insolvency event’ in the same way administration is, so we could face a 12point deduction. That would leave us just outside the relegation zone. We could do with getting a result at Sunderland tonight.
I'm sure that Oyston will try more delaying tricks. His wife has just been removed as a director from a handful of Oyston companies in the last few days,
There was another case back in October where Oyston was threatened with a penal notice for failing to hand over documents requested by Belokons people (title deeds, share certificates etc).
The only catch with that is by EFL rules the appointment of a court receiver is deemed ‘an insolvency event’ in the same way administration is, so we could face a 12point deduction. That would leave us just outside the relegation zone. We could do with getting a result at Sunderland tonight.
I'm sure that Oyston will try more delaying tricks. His wife has just been removed as a director from a handful of Oyston companies in the last few days,
There was another case back in October where Oyston was threatened with a penal notice for failing to hand over documents requested by Belokons people (title deeds, share certificates etc).
Just got my tickets on-line for next Saturdays game v Southend.
First game (home or away) watching Blackpool since the abandoned game v Huddersfield at the end of the 2014/15 season, so 1395 days ago, Although I did stop going the previous December and only went to the Huddersfield game as it was being targeted as a big protest match being the last game of the season and I still had a season ticket,
First game (home or away) watching Blackpool since the abandoned game v Huddersfield at the end of the 2014/15 season, so 1395 days ago, Although I did stop going the previous December and only went to the Huddersfield game as it was being targeted as a big protest match being the last game of the season and I still had a season ticket,
Had a lot of rain over last few days, but nothing since about 8pm last night apart from a few showers. Grounds man posted on Twitter last night that pitch alright and pitch drying nicely due to the wind.
I feel like a six year old waiting to be allowed into the living room on Christmas morning to open my presents.
Apparently should be the most home fans at Bloomfield Rd since a game against Bolton in 1977
I feel like a six year old waiting to be allowed into the living room on Christmas morning to open my presents.
Apparently should be the most home fans at Bloomfield Rd since a game against Bolton in 1977
Edited by Russ35 on Saturday 9th March 12:04
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