PL charge City for alleged breaches of financial rules

[Wayneclarkemunchescarrots]

Me?

No mate - many moons ago was a reply to GDM from another poster

 

[marco]

if at the end of all this we were dealt a fine for non cooperation would we then be liable for all costs or would we be liable for part costs?

 

[blue b4 the moon]

Spoiler: Answer

Water?

On a bike outside a chippy?

 

[slbsn]

Fair point, but in that respect it’s no different from any other company. Dividends are distributed out of profits. All companies have extra-ordinary expenses like legal fees from time to time which reduce the dividends that can be paid.

That is just the lot of a shareholder. An organisation like the PL is going to have these issues from time to time. Not sure one can say the PLs fees are being paid for out of “our” money because it’s the PLs money insofar as meeting operating costs is concerned.

But we digress…

Yes except it is very unusual to have a company where the board goes round suing the shareholders with company money.

 

[Chris in London]

if at the end of all this we were dealt a fine for non cooperation would we then be liable for all costs or would we be liable for part costs?

In principle we get our costs of the issues we win on, they get their costs of the issues they win on.

There are many variations on that theme however…

 

[Chris in London]

Yes except it is very unusual to have a company where the board goes round suing the shareholders with company money.

That deserves more than a like!

 

[gordondaviesmoustache]

pedantic .

I think you’ll find its ‘pedantic, uppity ****’!

 

[slbsn]

if at the end of all this we were dealt a fine for non cooperation would we then be liable for all costs or would we be liable for part costs?

Part. Indeed, in that situation it is very likely City would get indemnity (the highest tier of cost awards) costs for much of the claim. Still would never exceed 85-90% of costs.

 

[Gone for a Burton]

They don't have insurance. But what policy would pay for a regulatory complaint against a member club. Would be an odd/very niche product.

The PL doesn't have its own money. It takes funds from the revenue in to pay its costs and then passes money to the clubs. The PL is not funded by a third party.

To be fair, I don't think they ever envisaged a scenario where they would be simultaneously running multiple claims vs a number of its clubs all with budgets at the very top of English commercial disputes

If they haven't undertaken a risk profile assessment they are incompetent and not fit for office.

It's one of the first things professionals undertake in a business plan and one that is normally demanded by investors/partners.

 

[Wayneclarkemunchescarrots]

I think you’ll find its ‘pedantic, uppity ****’!

Did make me chuckle mate