Forest forced to pay £4.2m to former owner
Nottingham Forest are being forced to pay former owner Fawaz Al-Hasawi £4.2m after failing in a legal battle over the financial fallout from his sale of the club.
Al-Hasawi won the case at the High Court in London on Friday (24 May) after a judge threw out Forest’s claims that the amount had been offset by losses it incurred.
“The Club confirms that it has been engaged in litigation with Fawaz Al-Hasawi in order to resolve a dispute regarding the proper treatment of various payments and liabilities under the contractual documentation relating to the sale of the Club in May 2017.
“The dispute relates to detailed accounting evidence and the interpretation of the Share Purchase Agreement. The Club may seek further clarification of the position on appeal based on independent advice.
“The Club confirms that this litigation has no bearing on the long term position of the Club or its ability to operate.”