A statement issued by Coventry City Council leader Ann Lucas and Opposition leader John Blundell has expressed the Council's delight at Mr Justice Males throwing out the Judicial Review brought against them by Coventry City Football Club (Holdings) Ltd, Arvo Master Fund and , Sky Blue Sports and Leisure Ltd.
The Council's press statement reads as follows:
“We are delighted that permission to apply for a judicial review by Sisu-related companies (including Coventry City Football Club Holdings Ltd) into the Council's decision to restructure Arena Coventry Limited's loan at a commercial rate from Yorkshire Bank, has been refused in the strongest terms by High Court Judge Mr Justice Males.
“While we always knew we had a strong case, there was always the possibility that a judge could allow the case to be heard, tying up the Council in lengthy and complex litigation which would, whatever the outcome, have benefitted no-one.
“The judge has thrown out the case at the earliest possible opportunity, and while the applicants can appeal the decision at an oral hearing we hope the robust refusal of the application will allow us to move forward.
“For the past few months the threat of litigation has fettered the Council. We’ve been unable to speak out about this issue or talk about the reasons why we’ve taken the decisions we have. That’s been very difficult for us all; we know how important the Ricoh Arena and the Sky Blues are to Coventry people and how desperate people are for us to do what we can to find a solution.
“We’re clear about our priorities; our primary focus is to support the development of a very important asset for the city, continue the regeneration of this part of Coventry. We also want a successful and sustainable football club playing at the Ricoh. Our aim is to work hard to deliver this.”
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