Vital Football

Latest Cardiff City News

Cardiff Nearing Court Case Deal

Cardiff Nearing Court Case Deal

Cardiff City could be nearing a settlement over the outstanding legal case brought against them by the mysterious Langston corporation.


The initial hearing was postponed after Langston failed to receive crucial papers in time, although the move is consistent with attempts to de-stabilise the club.



The case centres around the re-structuring of £24m in loan notes to the club. Cardiff beleive they are non re-payable until 2016, while Langston believe the contract to have been breached, and want payment immediately.


Once the stadium is developed, the finances will be significantly eased at the club, and whilst not possible now, payment of the loan is a certainty according to Ridsdale.



A settlement out-of-court was always the preferred solution, but Langston rejected any possibility of a meeting, indeed, we are still none the wiser as to who is behind the company - only that Sam Hammam is involved somewhere.



Chairman Peter Ridsdale told the Western Mail:



'I am very hopeful we will be able to come to agreement with Langston over this issue sooner rather than later'


'That would hopefully be before the next court date currently set for March. It has always been our aim to do that.'


'I have not personally had any meetings with anyone from Langston, but our aim is to sort out the situation for the benefit of Cardiff City as soon as we possibly can.'





An end to the case would be a huge boost for the club, relieving pressure from banks and making propsective signings more possible. It has dragged on for far too long, and pushed the club close to administration. Langston has as much to gain as anyone by negotiating a deal, hopefully this can be resilved quickly and efficiently.




Writer:Bluebirdshroom
Date:Friday January 18 2008
Time: 9:00AM

Comments

0
hope this doesn't effect your games over the next few weeks
ozanne park rangers
21/01/2008 06:03:00
0
and you finances long term
ozanne park rangers
21/01/2008 06:04:00
Page 1/1
  1. 1

Login to post a comment

Recent Cardiff City Articles

More Reliable Than A Championship Octopus? (18/10/17)

Time for the special computer that crunches the numbers to determine the final Championship positions for the season of 2017/18.

Safe Standing Gets A Step Closer To The Championship

Shrewsbury Town have now confirmed that they have reached their crowd funding target of £65,000 to create a safe standing section at New Meadow.

It Mata's To Juan, Why Not All?

Manchester United's Juan Mata has again called on Premier League players to match his pledge of 1% of their salary being donated to charity.

Club Top Scorers In The Championship 2017

With the Championship arguably the toughest it's been for a while with the clubs now in the division, will anybody enter Championship history by the end of the season.

Archived Vital Cardiff Articles

Vital Cardiff articles from

Site Journalists

Write for Vital Cardiff
Write For Vital Cardiff
Apply Here

Current Poll (see more polls)

Huddersfield MotM
Suggested By:
Murphy12%
Peltier7%
Connolly0%
Morrison0%
Richards30%
Gunnarsson15%
Ralls0%
Bennett0%
Pilkington7%
Zohore15%
Hoilett0%
Sub-Whittingham7%
Sub-M Harris0%
Sub-Lambert7%
ScoopDragon Publishing Entire League Network of Sites
Write for Vital Football
Latest F1 News
Latest Vital Boxing News
The Vital Football Members League

Recent Cardiff City Results (view all)

Cardiff City Fixtures (view all)

Vital Football Comment