Saturday, 21 March 2020

New board member talks about the funds issue

New board member Marian Mihail has talked to CAS Trust about his role at the club. The analogy the sports lawyer uses is that of a paramedic who comes in to patch up the patient and enable them to survive: Marian Mihail

He stated that 'there was no problem with the sufficiency of funds, just the source. He said that TN had been to banks in Egypt and Abu Dhabi in recent days and had supplied the EFL with further documents (statements and letters of support).'

'He understood the EFL's caution in the light of Bolton and Bury but the problem was that they might require documentation in a form which are not common in non EU countries. Nevertheless, they await feedback from EFL both on the new documents and on the Owners and Directors’ Test, to which both of them have submitted.

He 'is only too aware that there is considerable scepticism among Charlton fans about ESI. He recognises that satisfactory proof of source and sufficiency of funds is a necessary step to build some trust and confidence. He said that this is one of the reasons that the board won’t communicate very often until this is resolved.'

Elsewhere, the EFL has dropped charges against Katrien Meire, although not against Sheffield Wednesday.

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