UPDATED CARDIFF CITY CLUB STATEMENT: ' DIRECTOR RESIGNS '

' UPDATED '


DIRECTOR MICHAEL FILIOU RESIGNS

After a deal agreed before the Royal Courts of Justice in February 2016, Cardiff were thought to have made their final payment of around £5m later that month, with a further £2m said to be owed should the club win promotion to the Premier League.

Now Filiou’s exit is a further sign that the £24m loan notes saga, involving various court battles and threats, is now behind the Bluebirds. A statement released on Tuesday read: “After three years with the Club Mr. Filiou shall leave the board of directors during November 2016. The decision comes as a result of an agreement reached with Langston Group Corporation earlier this year.

“Mr. Filiou’s appointment to the Club’s board coincided with the Club’s promotion to the Premier League in 2013. He also chaired the Club’s Audit Committee during his time on the board. Mr. Filiou has at all times acted in compliance with his fiduciary duties to the Club. We wish him well for the future.”




CLUB STATEMENT: MICHAEL FILIOU RESIGNS

Tuesday 8th November 2016


"After three years with the Club Mr. Filiou shall leave the board of directors during November 2016. The decision comes as a result of an agreement reached with Langston Group Corporation earlier this year.

"Mr. Filiou's appointment to the Club's board coincided with the Club's promotion to the Premier League in 2013. He also chaired the Club's Audit Committee during his time on the board. Mr. Filiou has at all times acted in compliance with his fiduciary duties to the Club. We wish him well for the future."

You do not have the required permissions to view the files attached to this post.

"After three years with the Club Mr. Filiou shall leave the board of directors during November 2016. The decision comes as a result of an agreement reached with Langston Group Corporation earlier this year.

"Mr. Filiou's appointment to the Club's board coincided with the Club's promotion to the Premier League in 2013. He also chaired the Club's Audit Committee during his time on the board. Mr. Filiou has at all times acted in compliance with his fiduciary duties to the Club. We wish him well for the future."

so Langton paid in full annis ?

Sam Hammam's boardroom representative Michael Filiou stands down following agreement with Langston

Cardiff City have undergone a boardroom shuffle after the resignation of one of the club’s directors – drawing a firm line under the Langston affair.

A statement from the Bluebirds confirmed the exit of director Michael Filiou, the representative of former owner Sam Hammam placed on the board as part of an initial agreement with Langston during discussions over the disputed loan.

Filiou was appointed in 2013 after what was described at the time as an amicable agreement over the repayments on the controversial loan notes, only for tensions to rise again when Cardiff opted to withhold payments as they looked to settle the matter – including proving Langston’s identity as a company owned by Hammam – once and for all.'

After a deal agreed before the Royal Courts of Justice in February 2016, Cardiff were thought to have made their final payment of around £5m later that month, with a further £2m said to be owed should the club win promotion to the Premier League.

Now Filiou’s exit is a further sign that the £24m loan notes saga, involving various court battles and threats, is now behind the Bluebirds. A statement released on Tuesday read: “After three years with the Club Mr. Filiou shall leave the board of directors during November 2016. The decision comes as a result of an agreement reached with Langston Group Corporation earlier this year.

“Mr. Filiou’s appointment to the Club’s board coincided with the Club’s promotion to the Premier League in 2013. He also chaired the Club’s Audit Committee during his time on the board. Mr. Filiou has at all times acted in compliance with his fiduciary duties to the Club. We wish him well for the future.”

It has taken 10 years to finally resolve the Langston Loan Notes. Under the original agreement the £15m plus interest was due to be repaid in 7 and half weeks time on Saturday 31st December 2016.

It's been one hell of a journey well worth a book or two

"After three years with the Club Mr. Filiou shall leave the board of directors during November 2016. The decision comes as a result of an agreement reached with Langston Group Corporation earlier this year.

"Mr. Filiou's appointment to the Club's board coincided with the Club's promotion to the Premier League in 2013. He also chaired the Club's Audit Committee during his time on the board. Mr. Filiou has at all times acted in compliance with his fiduciary duties to the Club. We wish him well for the future."

so Langton paid in full annis ?

Wez, Tan had to pay it all in the end,as ordered by the Court, cost Tans(CCFC) £millions extra by trying not to.

Interest added was £millions,Court costs £1mill and another £2mill if City are ever promoted to Premier League.
Not good business.

Thankfully all paid now and we can move on and we now now need the biggest part of the debt being resolved,which is looking on course to be finally down

It has taken 10 years to finally resolve the Langston Loan Notes. Under the original agreement the £15m plus interest was due to be repaid in 7 and half weeks time on Saturday 31st December 2016.

It's been one hell of a journey well worth a book or two

No thank you,No more books

Tony, the only prob is that it cost our club £millions more than it should off after signing and agreeing to it,Tan tried to get out of it,so it cost a hell of a lot more.

"After three years with the Club Mr. Filiou shall leave the board of directors during November 2016. The decision comes as a result of an agreement reached with Langston Group Corporation earlier this year.

"Mr. Filiou's appointment to the Club's board coincided with the Club's promotion to the Premier League in 2013. He also chaired the Club's Audit Committee during his time on the board. Mr. Filiou has at all times acted in compliance with his fiduciary duties to the Club. We wish him well for the future."

so Langton paid in full annis ?

Wez, Tan had to pay it all in the end,as ordered by the Court, cost Tans(CCFC) £millions extra by trying not to.


Interest added was £millions,Court costs £1mill and another £2mill if City are ever promoted to Premier League.
Not good business.

Thankfully all paid now and we can move on and we now now need the biggest part of the debt being resolved,which is looking on course to be finally down

This is (finally) good for everyone concerned, Annis. Club, fans, Sam, Tan and other interested parties!

HAPPY DAYS!

"After three years with the Club Mr. Filiou shall leave the board of directors during November 2016. The decision comes as a result of an agreement reached with Langston Group Corporation earlier this year.

"Mr. Filiou's appointment to the Club's board coincided with the Club's promotion to the Premier League in 2013. He also chaired the Club's Audit Committee during his time on the board. Mr. Filiou has at all times acted in compliance with his fiduciary duties to the Club. We wish him well for the future."

so Langton paid in full annis ?

Wez, Tan had to pay it all in the end,as ordered by the Court, cost Tans(CCFC) £millions extra by trying not to.

Interest added was £millions,Court costs £1mill and another £2mill if City are ever promoted to Premier League.
Not good business.

Thankfully all paid now and we can move on and we now now need the biggest part of the debt being resolved,which is looking on course to be finally down

This is (finally) good for everyone concerned, Annis. Club, fans, Sam, Tan and other interested parties!

HAPPY DAYS!

Chris, Totally agree,finally comes to an end and we can move on

Happy fecking days

It has taken 10 years to finally resolve the Langston Loan Notes. Under the original agreement the £15m plus interest was due to be repaid in 7 and half weeks time on Saturday 31st December 2016.

It's been one hell of a journey well worth a book or two

No thank you,No more books

Tony, the only prob is that it cost our club £millions more than it should off after signing and agreeing to it,Tan tried to get out of it,so it cost a hell of a lot more.

On this I fully agree with you it was a stupid thing to do.

Cardiff City director Michael Filiou leaves board after three years

BBC


Director Michael Filiou is leaving the Cardiff City board after three years at the Welsh club.

The Bluebirds confirmed his departure will take place in November.

The club says his exit results from the agreement reached with the Langston Group Corporation over loan notes earlier this year.

Filiou was originally appointed to the board as a representative of former club owner Sam Hammam.

At a board meeting in 2015, club directors unanimously voted to express their lack of confidence in Filiou.

Filiou appealed to the Football Association of Wales over the dispute, but it is understood an amicable agreement was concluded over the weekend.

The club statement said: "Mr. Filiou's appointment to the club's board coincided with the club's promotion to the Premier League in 2013. He also chaired the club's audit committee during his time on the board.

"Mr. Filiou has at all times acted in compliance with his fiduciary duties to the club. We wish him well for the future."





Michael Filiou (right), seen here with chairman Mehmet Dalman, is to leave the Cardiff City board of directors

You do not have the required permissions to view the files attached to this post.

Never heard of him!