Cash Flow

[BOROMAN]

Hey ETFC people, I a bit confufussed re the sum of money that you had to pay out to the Leyton Chairman.

 

If it is as big a some rumours, I am presently suprised that you are still in business.

 

Please clarify.

[Mr Happy]

The sum of money paid to a certain Greek gentleman (if that's what you could call him) was £5,000. This and any legal expenses were, to my knowledge, not paid out of club funds. How it was funded is the business of the club's directors.

[lovely stuff]

a ''jury <img src="/images/graemlins/shocked.gif" alt="" /> <img src="/images/graemlins/confused.gif" alt="" /> <img src="/images/graemlins/mad.gif" alt="" /> '' found ETFC guilty of libel....I think the judge was as shocked as we were, and fined us the nominal fee (for a libel case) of £5k.

 

Unfortunatly the law states that we had to pay costs...over 100k i believe.

 

The committee members who were involved in the case have pledged to meet the costs themselves,and have stated they do not expect ETFC to repay them ,until the club is able/financaly viable to do so without harming our progress(ie.. not for another 5 years at least...unless we come into an unexpected windfall..etc.)

 

 

Thats how i understood the situation,after attending the meeting about it,a few months ago.

[Tom S]

We 'only' had to pay £5,000 to the Leyton Chairman.

 

Costs, on the other hand were somewhat larger but don't go to him <img src="/images/graemlins/frown.gif" alt="" />

 

Let's just say that arrangements have been made to meet the liability without affecting the playing budget etc.

 

 

[BOROMAN]

Thanks for the info, and good luck.