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McCanns Limited Fund Late Filing Accounts

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Re: McCanns Limited Fund Late Filing Accounts

Post  kitti on Sun 15 Jan - 20:05

The Mccans have yet NOT paid the costs towards loseing against amaral re the unbanning off the books....this, to me, is wrong.



It all goes against the libel trial....so when they lose, it will be costs for that trial and the costs from before re the book trial which they lost..

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Re: McCanns Limited Fund Late Filing Accounts

Post  Panda on Sun 15 Jan - 20:22

AnnaEsse wrote:
Panda wrote:
gillyspot wrote:From the New Special Resolution Amendments:

"Indemnity"

Subject to the Act but without prejudice or any indemnity to which a Director may otherwise be entitled, every Director or other officer of the Foundation shall be indemnified out of the assets of the Foundation:

49.1 Against all costs charged or liabilities incurred by him or her'

49.1.1 in defending any civil or crimnal proceedings in which judgement is given in his or her favour or in which he or
she is acquitted


So this would be payments made for the Libel Cases being brought by Pat Brown and any possible criminal proceedings against them too. But only if the McCanns win - will they have to pay if they lose?





Probably not sadly.

Hi gillyspot,

No, If they win they keep the money and if they lose the Fund pays the cost. It really is a travesty that they are allowed to get away with it. I truly
hope they get their commuppance for the sake of Madeleine and all the schoolchildren who donated by making cakes and ribbons, people who probably
don"t earn much etc.

I read it differently, that the fund would pay costs if they won any action, or if charged, they were acquitted.

AnnaEsse, this is the way I read it "indemnified out of the assets"

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Re: McCanns Limited Fund Late Filing Accounts

Post  gillyspot on Sun 15 Jan - 20:36

Which to me means all costs are protected - ie paid by the fund if they are successful as "defendants" only note. No mention of the McCanns actively suing people being covered by this.

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Re: McCanns Limited Fund Late Filing Accounts

Post  Panda on Sun 15 Jan - 20:53

gillyspot wrote:Which to me means all costs are protected - ie paid by the fund if they are successful as "defendants" only note. No mention of the McCanns actively suing people being covered by this.



49.1 Against all costs charged or liabilities incurred by him or her'


Gilly, it means ALL costs, whether they win or lose. If they win against Amaral , they will claim their Court costs from him, but travel costs from the Fund.

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Re: McCanns Limited Fund Late Filing Accounts

Post  gillyspot on Sun 15 Jan - 20:56

It seems to me quite clear that if they lose then I see that the costs charged or liabilities incurred would have to be paid by the McCanns (mind there will be some wriggle room elsewhere in the document I am sure).

49.1 Against all costs charged or liabilities incurred by him or her'

49.1.1 in defending any civil or crimnal proceedings in which judgement is given in his or her favour or in which he or
she is acquitted

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Re: McCanns Limited Fund Late Filing Accounts

Post  flower on Sun 15 Jan - 21:05

The McCanns pay from their own resoures?? Nah, Never.........................

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Re: McCanns Limited Fund Late Filing Accounts

Post  Chris on Sun 15 Jan - 21:57

gillyspot wrote:From the New Special Resolution Amendments:

"Indemnity"

Subject to the Act but without prejudice or any indemnity to which a Director may otherwise be entitled, every Director or other officer of the Foundation shall be indemnified out of the assets of the Foundation:

49.1 Against all costs charged or liabilities incurred by him or her'

49.1.1 in defending any civil or crimnal proceedings in which judgement is given in his or her favour or in which he or
she is acquitted


So this would be payments made for the Libel Cases being brought by Pat Brown and any possible criminal proceedings against them too. But only if the McCanns win - will they have to pay if they lose?

Probably not sadly.

You have overlooked the final part of 49.1:

"where such proceedings or application arise as a result of any actual or alleged negligence, default, breach of duty or breach of trust in relation to the Foundation, and ...."

The idemnity on costs is very specific relating to those specified types of proceedings and not in relation to any action (like the libel trial) brought by the McCs.

This is quite a normal indemnity for directors and was also present in the original Articles.

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Re: McCanns Limited Fund Late Filing Accounts

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