Takeover (Covid-19/20)

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So.. I’m erect... where do I do from here? Apart from balls deep in pouchies lass for an empty... but that’s getting boring...
 
Sheikh_of_Araby said:
Here is what I think has happened.

The QC barristers wrote to the PL and put the fear of God into them. Shaheed Fatima, who has acted for Saudi PIF in previous cases concerning legal separation, warned the PL that precedent was on Mike Ashleys side. In response, the PL invited the consortium to resubmit their application otherwise thry would be sued to the hilt.

Jamie Reuben, as part of the proposed board, resigned from his position and is to be appointed director of JV1 and so all directors now identifiable, are appointed. The PL can then carry out their test which is a formality.
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Given Reuben wasn’t even a stakeholder in QPR (as far as I’m aware) and merely a non exec Director, I’m not even sure if by the PL rules he’d have to withdraw from that to be a minority stakeholder in Newcastle with his brother. The rules as I understand them are that you can’t hold more than a 9.9% stake in more than 1 PL club.

I also don’t know how a legal separation argument is supposedly water tight when the Chair of PIF is also the effective head of State. If they set up a new investment vehicle that didn’t have him or any other state official as part of the board then the argument about piracy / human rights goes away.
 
Tobes said:
Given Reuben wasn’t even a stakeholder in QPR (as far as I’m aware) and merely a non exec Director, I’m not even sure if by the PL rules he’d have to withdraw from that to be a minority stakeholder in Newcastle with his brother. The rules as I understand them are that you can’t hold more than a 9.9% stake in more than 1 PL club.

I also don’t know how a legal separation argument is supposedly water tight when the Chair of PIF is also the effective head of State. If they set up a new investment vehicle that didn’t have him or any other state official as part of the board then the argument about piracy / human rights goes away.
Click to expand...


Surely you can't be a director at 2 prem clubs.. Its be dodgy as hell
 
Tobes said:
Given Reuben wasn’t even a stakeholder in QPR (as far as I’m aware) and merely a non exec Director, I’m not even sure if by the PL rules he’d have to withdraw from that to be a minority stakeholder in Newcastle with his brother. The rules as I understand them are that you can’t hold more than a 9.9% stake in more than 1 PL club.

I also don’t know how a legal separation argument is supposedly water tight when the Chair of PIF is also the effective head of State. If they set up a new investment vehicle that didn’t have him or any other state official as part of the board then the argument about piracy / human rights goes away.
Click to expand...

From memory, Shaheed Fatima has acted in company law cases involving PIF in the past. I am fairly sure there is persuasive precedent in international cases where this issue has been raised. She has also acted for the Saudi state in several cases in international law. I'm not sure of the intricacies as it isn't my area and can be very complex.
 
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