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Cardiff City hopeful for out-of-court deal
England - 22 January, 2008
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Welsh Cardiff City and creditor Langston may settle out of court before their case goes before the High Court hearing in March.
The club claims it does not owe Langston payments until 2016 on a GBP 30 million debt, which was taken out under Sam Hammam's regime. Langston, which curiously has Hammam has a representative, says that terms of the loan agreement mean the balance should be paid now.
The suit has worried club officials that it could sink Cardiff City into administration and perhaps force the club to cease operations.
Legal entanglements have cost the club six figures GBP, and an assortment of delays have stretched out the legal fees. Club chairman Peter Risdale, who believes his club's case was on solid foting, said he was hopeful an agreement would be reached soon.
The club claims it does not owe Langston payments until 2016 on a GBP 30 million debt, which was taken out under Sam Hammam's regime. Langston, which curiously has Hammam has a representative, says that terms of the loan agreement mean the balance should be paid now.
The suit has worried club officials that it could sink Cardiff City into administration and perhaps force the club to cease operations.
Legal entanglements have cost the club six figures GBP, and an assortment of delays have stretched out the legal fees. Club chairman Peter Risdale, who believes his club's case was on solid foting, said he was hopeful an agreement would be reached soon.
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