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Discussion in 'Newcastle United' started by RobEllious, Mar 30, 2020.
Correction, the full arbitration disclosure won’t happen so PL have won twice today.
what’s your take on today?
You've turned into a gibbering ****tard but we still read yours
Disgusting. And we originally agreed because we where not informed. You can see why the club wanted it released to the public.
Basically saying “look what corrupt ****ers this shower of **** establishment is. This is what we are dealing with”.
I'll wait for the other 3 paragraphs before making a further comment.
This is happening. Proof. Concrete proof that arbitration is to force the takeover through.
I have been saying this for months.
Exert from the bits De Marco put out:
From the information you have provided, [PLL] is provisionally minded to conclude that KSA satisfies both elements in the test for "Control" over [NUFC] through its control over PIF (which, as noted, recognises that it will be a Director).
1. As to management, … PIF's directors are appointed by Royal Decree, and its current board is almost exclusively composed of KSA Government Ministers. The PIF Law puts [it] expressly under the direction of … a KSA Government Ministry. Its function is to serve the national interest of KSA.
2. As to ownership, it would appear that PIF is state-owned, and that it manages only state-owned assets.
Again, if you disagree with either of these provisional conclusions, we would welcome your reasoned response.
Following receipt of any submissions, [PLL] will fully consider them before reaching a final decision on the issues.If [PLL] then decides that KSA will not become a Director, then it will proceed to a decision on the application of Section [F] to the individuals who have been declared, including PIF. However, should the Board decide that KSA is also to be regarded as a future Director, then there will have to be a declaration in respect of KSA and the Board's decision on the application of [Section F] will have to be made in respect of KSA also."
NUFC disputes this conclusion and the lawfulness of the process by which it was arrived at by PLL. It is this dispute that is the subject of the reference with which these proceedings are concerned.
Pursuant to [Section A], the definition of "Director" includes any "Person" (as defined under [Section A]) that will have "Control" over [NUFC] (as defined in [Section A]). [PLL] has accordingly been considering the scope of those two words, "Person" and "Control", under the Rules.
The definition of "Person" under [Section A] includes "any … legal entity". [PLL]'s provisional view is that KSA … is a legal entity under English law. As such, it is a Person under the Rules, and thus capable of being a Director. If you disagree, [PLL] would welcome a reasoned explanation.
The definition of "Control" in [Section A] includes either effective management control or beneficial ownership, or both. In particular, the relevant parts of the definition describe "Control" as "the power of a Person to exercise … direct or indirect control over the policies, affairs and/or management of a Club … and, without prejudice to the generality of the foregoing, Control shall be deemed to include: (a) the power (whether directly or indirectly … ) to appoint and/or remove all or such of the members of the board of directors of the Club as are able to cast a majority of the votes capable of being cast by the members of that board; and/or (b) the holding and/or possession of the beneficial interest in, and/or the ability to exercise the voting rights applicable to, Shares in the Club (whether directly, [or] indirectly …) which confer in aggregate on the holder(s) thereof 30 per cent or more of the total voting rights exercisable at general meetings of the Club".
So in reality. This is big news because it proves the arb is real. That it’s to facilitate a takeover.
And does that mean by very definition PIF are still at the table. Because if not surely it’s just a waste of time.
So for that reason. “I’m IN”
PIF are very much in.
The arbitration is to force the takeover through. De Marco went in great detail as to how PIF operate.
I ****ing knew it.
You (and others) called it bang on, fair play. Tallies with HDQ's comments as well.
Shame we're in a state of even-deader-than-ever under Ashley right now, but honestly how can they not allow this? All the piracy **** - as it also appears is an issue - has been resolved?
Where did he detail things. Is it earlier on in the huge posts I skipped.
Piracy hasn't been resolved as far as I've heard - BeIN still not being shown and court cases proceeding.
I think that if BEin is showing before arbitration starts then I think there will be a settlement done.
If it starts showing during arbitration then the outcome will be positive
@Sheikh_of_Araby when the arbitration does start his long do you think it will last for?
@Sheikh_of_Araby This chairman isn't he a QC at the same company as NDM? Do you think that will have any impact?