RIFC v Sports Direct: No contempt of court - injuction to be discussed in January

[SteveC 150]

There might have been a penalty added for late repayment of the 5mil, who knows, their QC could be playing games here.

 

This seems to suggest we've got 4.5 of the 5 million:

 

James Doleman ‏@jamesdoleman 27s27 seconds ago

Counsel for Sports Direct says Rangers have told him "funds are still being collected" to repay loan

[compo 6,141]

good to hear a judge with common sense

[boabie 230]

There might have been a penalty added for late repayment of the 5mil, who knows, their QC could be playing games here.

 

The common understanding was that the loan was interest free with no time limit mate.

[JTP 0]

Few comments on twitter saying we will pay the remaining £500k at the end of the year once all securities have been released, or that we used the £500k to pay the legal fees from yesterday.

[buster. 4,808]

Problem with Doleman as was evidenced yesterday, his tweets weren't comprehensive or at times completely objective. Apparently there were two agency reporters there, so we may get more detail.

 

Regards the repaying of the 5M, given the 'gagging order' can the club communicate with the support or not?

What we do know is that there is that there is the intention to pay it and according to SD counsel they are waiting on 500,000.

We also know that the headline T&C didn't specify a repayment schedule.

We haven't seen details of any further conditions attached.

 

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Interesting that the judge mentioned 'public interest' given he has obviously been very thorough in his preperation or has been following events surrounding the case for some time. This will have been most unwelcome news for Ashely.

 

Not sure of how it works but I can only hope this judge sits on the January trial and it's notable his awareness of the 'back story' and how he seemed to be influenced by it compared to some of his Scottish counterparts who have sat 'up on high'.

 

Pity that costs weren't resolved at this juncture as we seemed to be well ahead on points, it leaves doubt and a hole in cashflow.

 

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edit / another tweet

 

James Doleman ‏@jamesdoleman

To clarify on SD loan . Counsel said it had not been repaid and he had been informed by RFC they were awaiting collection of £500k.

Edited December 11, 2015 by buster.

[pete 2,499]

King said he got the 5mill together within an hour.

[Davie P 4]

You sometimes find with King (and I am his biggest fan for what he has achieved in a short space of time), is that he tends to speak first and think later.

[craig 5,199]

King said he got the 5mill together within an hour.

 

Which should be interpreted as getting commitment, within an hour, for the needed funds. You still then have to wait for the funds to be transferred - which also could mean people having to crytstallise non-cash assets.

 

It isn't necessarily as black and white as you suggest pete.

Edited December 11, 2015 by craig

[buster. 4,808]

From FF

 

Originally Posted by baselbear V

According to @STVGrant , King tried to get the attention of the QC when that was said. It looks to me that when they said paid off they meant that they are doing it now and it will be completed by the end of the year. QC was wrongly instructed.

[ian1964 10,416]

Grant Russell getting a hard time on twitter!,they really are not normally and actually quite ill

 

https://twitter.com/STVGrant/with_replies