Mr Fletcher posted on the owners’ website that the WimPen must pay the club €125,000 of Community funds to the Club in payment for arbitration expenses.
What Mr. Fletcher indicates is not correct, as always. In this Judgment the CLUB is not required to charge anything, the only thing that indicates that there was a procedural error, this error was from the Court and not from WIMPEN, the error was in the summoning. The sentence that Mr. Fletcher publishes and refers to, is that the Court decides that the trial must be repeated.
But this Trial will be closed, because initially the Arbitrator in the First Arbitration requested that 125.000,00 € be paid to the CLUB to cover Arbitration expenses, but later the Arbitrator himself invalidates this order, so this process is no longer reason of being.
Here is the legal opinion I have obtained (translated from Spanish). . .
"I must refer to two resolutions, one judicial and the other arbitration, that affect the Community's bank account. The arbitration resolution fell on the first of the arbitrations, already completed, followed between Wimpen and the Club, where an award of procedure in which the amount of 125,000 pounds was recognized in favor of the Club, an amount that had to be paid against the Community account. This award was later amended by the final award dated August 1, 2017, by which it was without effect the payment of said amount, consequently, no payment should or should be made to the Club.
Simultaneously, several owners filed a judicial proceeding before the Courts of Arona whose objective was, simply, to prevent any payment against the community account as long as two requirements were not met: first, that the accounts of the Community and the Club were perfectly separated, and, second, that it was approved at an AGM.
In this procedure, a resolution has recently been issued that annuls the entire process due to a formal defect in the initial notification to the Club, reversing the proceedings so that the claim can be notified to the Club again. In any case, and having waived the payment of the 125.000,00 € in the arbitration, as indicated above, it is very likely that this judicial procedure will be reviewed in its entirety "
Sorry Mr Fletcher, you will not be receiving any money from the Community!
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