No shortage of problems for Sevco

The fallout from the Unconditional Favourable Settlement is just starting.

I have just learned that General Ashley has made sure that his legal bill has been submitted to Sevco.

My information is that the figure is just over £700k.

Of course, the basket of assets will also have to pay their own legal team too.

In a related matter, two functionaries from the Sevco High Command were meant to have a sit-down with the JD Sports folk on Friday.

However, the people representing the miffed Sports Retailer only wanted to meet with the Convict Chairman and the Conveyancing Consigliere.

The JD Sports chaps meant no disrespect, but they said that unless the two functionaries were fully briefed and had plenipotentiary status then there was no point in the meeting going ahead.

So it didn’t.

I think it is fair to say that there is the aroma of fear in the Blue Room about this situation at the moment.

The last thing that the Engine Room Subsidiary needs is another bruising court case.

Unfortunately, the Convict Chairman appears to be on no mood to have a conclave with reality.

He appears to have convinced himself that he has been terribly wronged by the Takeover Panel bounders.

This will not end well.

I understand that the next wheeze will be to inform the court that Mr King has some monies in Zimbabwe.

Sadly because of the unstable political situation, he is currently unable to get those funds into the UK.

So keep an eye out for that one.

I had recently reported that the pay off to Senhor Fábio Rafael Rodrigues Cardoso was in the region of £700k.

What I didn’t know at the time is that the basket of assets also owes the final tranche of his transfer fee to Vitória de Setúbal.

It just keeps piling up…

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