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Cardiff City learns of court date
England - 28 August, 2007
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Welsh Cardiff City has an idea on when its financial future will be more clear.
The club learned a 21 Nov. High Court date has been set in its fight against the Langston Corporation. The company has claimed Cardiff City owes a total loan repayment of GBP 31 million, while the club has said the loan repayment had been deferred until Dec. 2016.
The strain has been evident on club chairman Peter Risdale.
"I wish we could get this matter settled quickly," he said. "We have been trying to arrange a face-to-face meeting with Langston, but they will only agree to one between our respective lawyers. Such a meeting has been arranged for the end of next week.
"We remain totally confident in our belief that no repayments have to be made before 2016. But this is a distraction and we would like the matter cleared up as soon as possible. Obviously we would like to repay the debt before 2016, but we believe there is no legal obligation to do so."
The club learned a 21 Nov. High Court date has been set in its fight against the Langston Corporation. The company has claimed Cardiff City owes a total loan repayment of GBP 31 million, while the club has said the loan repayment had been deferred until Dec. 2016.
The strain has been evident on club chairman Peter Risdale.
"I wish we could get this matter settled quickly," he said. "We have been trying to arrange a face-to-face meeting with Langston, but they will only agree to one between our respective lawyers. Such a meeting has been arranged for the end of next week.
"We remain totally confident in our belief that no repayments have to be made before 2016. But this is a distraction and we would like the matter cleared up as soon as possible. Obviously we would like to repay the debt before 2016, but we believe there is no legal obligation to do so."
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