Wednesday 25 March 2020

Deadline for takeover reversal has passed

One can usually rely on Richard Cawley of the SLP for an authoritative interpretation of developments at Charlton, but the rapid and bewildering pace of events is making his task much harder than usual.

He has tweeted: 'My understanding is that the ex-directors' deadline for the Charlton takeover to be unpicked back to Roland Duchatelet has passed. The question is what happens next. And no, I don't know the answer to that.'

VOTV editor Rick Everitt has now clarified: 'VOTV has learned that the Charlton ex-directors have received no response to their legal letter and that there is a second deadline next week at which point they will seek an injunction to reverse the sale of CAFC Limited. Source is adamant they will proceed.'

Tweeting from his Ramsgate fastness, the Rickster added: 'Can also now confirm that the three CAFC ex-directors set to seek the injunction are Derek Chappell, Bob Whitehand and David Sumners, whose outstanding loans total £2.65m. They are also likely to seek costs. Others not involved at this stage.'

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