Coventry City owners win judicial review over Ricoh loan

摘要

The owners of Coventry City Football Club have won their application for a judicial review into a £14m loan by the council to the Ricoh Arena. A High Court judge ruled in favour of Sisu hedge fund and its related company's application on 29 November, which claimed Coventry City Council's £14.4m loan in January to the part-local authority-owned Arena Coventry Ltd (ACL) was unlawful under European Union rules. The companies claimed the loan was an unlawful use of funds, which has created unfair competition. Coventry City Council leader, Cllr Ann Lucas, said: 'We are disappointed that the judge has today allowed this judicial review to proceed to a court hearing, but are confident we have a robust defence to all the claims made in the judicial review and look forward to the court hearing that will allow us to share this defence publicly.'