Oakwell Holdings Limited v BFC Investment Company Limited

Discussion in 'Bulletin Board' started by Spirit of 81, Aug 18, 2020.

  1. Spi

    Spirit of 81 Active Member

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    Legal proceedings have been commenced by Oakwell Holdings Limited against BFC Investment Company Limited in the High Court in Manchester. My understanding is that BFC Investment Company Limited is a Hong Kong company and owns more than 75% of the shares In Barnsley Football Club Limited, the latter being the company which operates the club. Oakwell Holdings Limited appears to me to be a Company which is or was operated by the Cryne family, but others will know more about this. Knights are the solicitors acting for Oakwell Holdings Limited. The action number is BL 2020 MAN 000076.

    The Claim Form was issued on 12 August. The claimant will have some months to serve the Claim Form so things may not proceed particularly quickly.

    To be clear, I am not “in the know”. The fact that proceedings have been commenced is a matter of public record. Further details may become publicly available if and when the Claim Form has been served and the Defendant company files an Acknowledgment of Service with the Court.
     
  2. Che

    Chef Tyke Well-Known Member

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    Oh dear
     
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  3. Stephen Dawson

    Stephen Dawson Well-Known Member

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    Why would James Cryne take Chien and Co to court?
     
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  4. BarnsleyReds

    BarnsleyReds Well-Known Member

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    I always thought oakwell holdings was the company that owned the stadium? I could well be wrong.
     
  5. Old Goat

    Old Goat Well-Known Member

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    Spreadsheet abuse.
     
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  6. Mid

    Mido Well-Known Member

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    Doesn’t sound good!
     
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  7. Dan

    DannyWilsonLovechild Well-Known Member

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    Oh dear indeed.

    Is this the true strategy and why they allow the selling owners to retain a 20% equity? To cause ructions that then push for a split and they hold out for an over inflated fee for their 80%?
     
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  8. Tyke_67

    Tyke_67 Well-Known Member

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    Because we aren't using the spreadsheet in the summer transfer window ...
     
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  9. Stephen Dawson

    Stephen Dawson Well-Known Member

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    So it's the Cryne family and the Council that are taking Chien and Co to court?
     
  10. Mid

    Mido Well-Known Member

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    I think that’s quite a jump from the information we have to be honest.
     
  11. Donny Red

    Donny Red Well-Known Member

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    We don't know the detail concerning this action, but at first glance you have to
    say, it doesn't look good. Let's hope that whatever their differences, they can be
    sorted and everyone can move on without any detrimental consequences for the
    Club.
     
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  12. Stephen Dawson

    Stephen Dawson Well-Known Member

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    Or they walk away and leave the running of the club to the 20%.
     
  13. Bru

    BrunNer Well-Known Member

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    Rowing wants access to the Oakwell biscuit cupboard.
     
  14. Mid

    Mido Well-Known Member

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    I’m absolutely no expert and may be very wrong, but I think Oakwell Holdings is the council/cryne company that owns the ground.

    Why they are then effectively taking the club to the high court? I have no idea!
     
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  15. Shy Talk

    Shy Talk Well-Known Member

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    Just when things seem to be on an upward curve...
     
  16. Stephen Dawson

    Stephen Dawson Well-Known Member

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    Barry Taylor ate them all.
     
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  17. BarnsleyReds

    BarnsleyReds Well-Known Member

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    Having looked again, I’m pretty sure I’m right that Oakwell Holdings is separate to the club and is the company that owns the stadium. My guess would be either the council or the Cryne’s not happy with discussions surrounding the sale of the ground. Not kept up their promise to buy the 50%?
     
  18. Stephen Dawson

    Stephen Dawson Well-Known Member

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    Can't see this effecting the footballing side myself.
     
  19. Dan

    DannyWilsonLovechild Well-Known Member

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    Not really. They only want to put in 80% which gives them controlling interest. But why? Why not buy the whole thing?

    The relationship at Nice was toxic and they just kept holding out and holding out until Ratcliffe offered a lot of money to force them out.

    Nobody has yet fathomed their true reason for buying us, or, how they could leverage a significant return on investment doing what they are doing.
     
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  20. Che

    Chef Tyke Well-Known Member

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    Is this the ‘devastating news’

    whatever it is, it won’t be good news.
     
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