STFC: Club Statement
Swindon Town have won their court appeal against former consultant Mike Diamandis.
In a statement released on the official Swindon Town website, the club announced:
'In the late spring of this year, Michael Diamandis instructed a firm of solicitors to serve a writ upon the club, claiming that he was owed significant sums of money in relation to a consultancy agreement dating back to 2002 and for a range of Dunwoody Marketing invoices, allegedly for services provided to the club between 2002 and 2008.
'Despite requests for evidence to support the claim, none was forth coming until the club was served with a winding up petition.
'Upon receipt of the winding up petition, the club was forced into a situation where it had to engage the services of professional legal advisors, at significant cost to the club.
'The case was heard in the High Courts of Justice in August and the judge, very surprisingly, found in favour of Michael Diamandis.
'The club immediately lodged an appeal against this judgement, which was granted but required the club to place £300,000 into court.
'Endless management time and legal costs have been expended in the period leading up to the appeal, preparing additional evidence and submissions as well as responding to counter claims from the other side.
'The appeal was heard today Monday 17th January 2011 and the club is pleased to announce that the Appeal Court judges found entirely in the club`s favour, dismissing Michael Diamandis` winding up petition.
'Furthermore, the judge instructed that the monies placed into court by the club be released and the club was awarded costs (on a conditional basis) which it will now seek to re-claim from the other side.
'For Swindon Town FC this has been a very time demanding and costly exercise but hopefully the final vestiges of the club`s previous history of mismanagement.'
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