On 2 December 2016, the club of ADO invoked its right of investigation before the Enterprise Division of the Amsterdam Court of Appeal (EDACA). In a decision dated 19 December 2016, the EDACA granted most of ADO´s requests, which specifically meant that an investigation on the policy and the course of events of ADO was ordered, its Chinese owner Mr Wang was suspended as president - yet not as a member - of the Supervisory Board and a new president of the Supervisory Board was appointed. For now, the club is out of trouble.
Facts and circumstances
ADO Den Haag (ADO) is a professional football club registered with the Royal Netherlands Football Association (KNVB), playing in the Dutch Premier League. Based on an extract from the Commercial Register kept by the Chamber of Commerce, the Supervisory Board consists of the following members: Mr Wang (President), Mr Jol and Mr Deetman. United Vansen International Sports Co. Ltd (UVS) holds the entire ordinary shares.
Before the purchase of the shares of ADO, UVS drafted a document for the purpose of executing a transfer of the shares. The document stated: “The purchaser guarantees the club a financially stable situation throughout the future. The goal is that by means of a substantial financial investment, of which the purchaser envisions this to be in the area of € 5 million to € 10 million extra investment, the club can be brought to a...
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