Sometimes journalism and the law are opponents.
In my opinion the Daily Record, in publishing material allegedly leaked to them by the New Regime, were just doing their job as a newspaper.
As per last night I had expected this court action to be about the January loan agreement.
There was excellent in court tweeting from @jamesdoleman and it became apparent that the January loan was not the issue today.
Subsequently, I contacted the source for that story and he immediately texted back with:
“Part 1 of 3, 2& 3 being about ST cash & behaviour of the current board!”
This chap is in a position to know, at the very least, the broad outline of what is likely to transpire.
We then spoke on the phone and he was much more expansive than in the text.
He clarified what he had told me last night and stated that a “three pronged attack” by Ashley was now underway.
Number 1 is apropos the breaching of corporate confidentiality which was in court today.
Number 2 will be to move on the security regarding the January loan.
Number 3 will be about the alleged share price manipulation of a listed company before March this year and the speed of the de-listing.
Regarding the third aspect of this manoeuvre by Sports Direct I understand that Mr Douglas Park and his hibernatory colleagues have been made aware that they are also considered by Park Ranger Ashley to have been naughty in this regard.
He is smarter than the average billionaire.
So expect more days in court.
When newspapers do the bidding of PR firms then they’re automatically in the wrong.
The “just call him a billionaire” is now part of Fitba folklore.
The judge noted today that:
“The Daily Record is a newspaper which wants to make a splash, invariably through hyperbole.”
So Big Mike has won the first part of this three legged affair.
The other two could prove to be even more eventful.