A High Court judge has ruled that a number of Owen Oyston’s properties, as well as shares in his company that owns the majority of Blackpool Football Club, should be sold.
Owen Oyston suffered another damaging defeat in the High Court Following today’s hearing at the Rolls Building in London, Justice Marcus Smith ruled that seven unidentified properties should be sold at auction along with Oyston’s stake in Blackpool Football Club (Properties) Limited (formerly Segesta Ltd) – which owns 77 per cent of Blackpool FC – and Closelink Ltd. Closelink is the company which owns Whyndyke Farm land, the site of a proposed 1,400 home garden village. Oyston's shares in Blackpool Football Club (Properties) Limited going up for sale essentially means the ownership of the football club is up for grabs, giving fans hope this will be the final hurdle in removing the Oystons from the club. However, the court wants to scrutinise those share sales and will have to give its final approval. Today's orders become operative on July 5. The judge also awarded costs for today’s hearing and threatened Oyston with a jail sentence should he not pay an interim £60,000 of the total £134,000 within 28 days. The court heard that Oyston has failed to meet deadlines for paying two previous costs orders: £50,000 in April and £40,000 by the beginning of June. The judge this time attached a penal notice to his £60,000 pay-up order. If Oyston fails to pay on time he will be in contempt of court and liable to imprisonment, fine or having his assets seized. Oyston unsuccessfully tried to keep The Gazette and fans out of his latest court room wrangle with Latvian Valeri Belokon because of sensitive monetary matters. His legal team wanted today’s hearing to meet the £25 million he owes to Valeri Belokon held behind closed doors. That would have excluded press and fans who had attended. But the judge ruled that the hearing should be open to the public. He said all sides should not refer to specific amounts of money out loud, but refer to documents which contained the figures. Mr Justice Marcus Smith also ordered that the court file – which is open for inspection – should be redacted to exclude sensitive figures. In the High Court last November, the Oystons were ordered to buy out Belokon for £31.27m after it was found they had illegitimately stripped the club of cash following promotion to the Premier League in 2010. Justice Marcus Smith found then that the Oystons had unfairly prejudiced the Latvian, who accused them of “improperly” extracting tens of millions of pounds from the club. The judge found in his favour and the club was put up for sale four days later.
Read more at: https://www.blackpoolgazette.co.uk/...ered-to-be-sold-by-high-court-judge-1-9216758
Owen Oyston suffered another damaging defeat in the High Court Following today’s hearing at the Rolls Building in London, Justice Marcus Smith ruled that seven unidentified properties should be sold at auction along with Oyston’s stake in Blackpool Football Club (Properties) Limited (formerly Segesta Ltd) – which owns 77 per cent of Blackpool FC – and Closelink Ltd. Closelink is the company which owns Whyndyke Farm land, the site of a proposed 1,400 home garden village. Oyston's shares in Blackpool Football Club (Properties) Limited going up for sale essentially means the ownership of the football club is up for grabs, giving fans hope this will be the final hurdle in removing the Oystons from the club. However, the court wants to scrutinise those share sales and will have to give its final approval. Today's orders become operative on July 5. The judge also awarded costs for today’s hearing and threatened Oyston with a jail sentence should he not pay an interim £60,000 of the total £134,000 within 28 days. The court heard that Oyston has failed to meet deadlines for paying two previous costs orders: £50,000 in April and £40,000 by the beginning of June. The judge this time attached a penal notice to his £60,000 pay-up order. If Oyston fails to pay on time he will be in contempt of court and liable to imprisonment, fine or having his assets seized. Oyston unsuccessfully tried to keep The Gazette and fans out of his latest court room wrangle with Latvian Valeri Belokon because of sensitive monetary matters. His legal team wanted today’s hearing to meet the £25 million he owes to Valeri Belokon held behind closed doors. That would have excluded press and fans who had attended. But the judge ruled that the hearing should be open to the public. He said all sides should not refer to specific amounts of money out loud, but refer to documents which contained the figures. Mr Justice Marcus Smith also ordered that the court file – which is open for inspection – should be redacted to exclude sensitive figures. In the High Court last November, the Oystons were ordered to buy out Belokon for £31.27m after it was found they had illegitimately stripped the club of cash following promotion to the Premier League in 2010. Justice Marcus Smith found then that the Oystons had unfairly prejudiced the Latvian, who accused them of “improperly” extracting tens of millions of pounds from the club. The judge found in his favour and the club was put up for sale four days later.
Read more at: https://www.blackpoolgazette.co.uk/...ered-to-be-sold-by-high-court-judge-1-9216758
