Jump to content

Takeover Thread - July 1st statement, Staveley letter to Tracey Crouch (and response) in OP


Recommended Posts

23 hours ago, Colos Short and Curlies said:

IT's not interesting that they made the disclosure, they had to. There is zero chance that the PL auditors were not aware of the claim and they would have made damn sure it was disclosed before signing off the accounts. Chances of winning or losing don't come into it, it's a matter of fact that the litigation is there.

 

The bit on not having any liability can be two fold, wither (a) they believe that there is at least a 50.1% chance of being successful or (b) they believe that if they were to lose the penalty would not be financial - i.e. remedy would be for the takeover to be approved.

 

How the conversation would have gone is

Mr Auditor 'What do you believe the payout would be, and do you have anything to support that'

Masters 'We haven't reached that stage, we are strongly contesting the CAT stream and believe that arbitration is the forum to resolve this. The outcome of arbitration will be that either we were right in how we dealt with it last year (and this is our position) or we have to rerun the tests just on the disclosed directors. There is no financial liability in play here.

Mr Auditor 'Cheers, that will do - stick a line in to that effect and we're good to go'

 

They wouldn't go fishing for a potential liability amount just for the accounts, better to not know. That would have been solicitors chasing it for their own purpose

 

There is nothing more to it than that.

 

 

Agreed, but the solicitors chasing it could have amounted to an attempt to gauge a settlement figure in the event they looked like losing!  

Link to post
Share on other sites

Honestly this forum man. It’s become utter shyte. If you all want to bicker with each other why not just WhatsApp each other personally or something then we don’t all have to see the tedious patter

Link to post
Share on other sites

Probably not advisable to go taking photos through peoples windows on a council estate. He will have the nonce hunters after him when the locals start jumping to conclusions 

Link to post
Share on other sites

Guest
This topic is now closed to further replies.
×
×
  • Create New...