Shameless King told to zip it as court hears that £5M Sports Direct loan hasn’t been repaid

Dave King’s joy at avoiding Christmas in jail was short lived as Judge Peter Smith trashed the South African based criminal in court this morning.

Mr King was told that he should have zipped it rather than gloat to Sky Sports about humiliating Mike Ashley while it also emerged that yesterday’s claim that a £5m loan to Sports Direct had been repaid was not the case with counsel for the sportswear giant revealed ‘RFC are still £500,000 short of repaying the loan’.

Last month chairman King told Sevco shareholders that the loan had been repaid after an hour long conference call among co-investors. Explaining why the loan was being repaid the glib and shameless liar said that it was the right thing to do!

Yesterday after discovering that he wouldn’t be handed a prison sentence Mr King told Sky Sports News: “I’m absolutely delighted. It’s not an unexpected result. It’s a case I always thought was very frivolous.”

“It was very pleasing for me to see we had a very, very strong judge who saw this case for exactly what it is.

“It’s an absolute humiliation from Mike Ashley’s point of view. I think it was disappointing it got this far and to repeat, it’s not that surprising the judge dealt with it so quickly.

At the end of yesterday’s hearing Judge Smith said: “I think Mr King should say absolutely nothing (to the media) except how happy he is not to go to prison, and Mr Justice Peter Smith is a fair-minded judge.”

This morning according to James Doleman ‘Judge to RFC counsel “perhaps your client should have kept it zipped yesterday” notes there are over 100 news articles on the Internet.’

No decision on damages or costs were taken today in court with a full trial for the contempt charge scheduled for January 18.

Sports Direct have been given one week to provide the judge with copies of newspaper articles whuch they claim breached the confidentiality clause.

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