It's difficult to to know exactly what is going on but the basics seem to be that Cardiff City owe £24m to Langston. That part is not in doubt, the club know the money has to be repaid.
The crunch is that Langston want the money now whereas Cardiff City expect to pay it back over time with the debt paid off in 2016.
It's speculation for the moment but it's thought that Langston have picked up on an anomoly within the contracts and they are forcing Cardiff City's hand by trying to get the money in one go. Something the club cannot afford and so runs the risk of going into Administration. But that can't help anybody with the club being financially ruined Langston's would not get their money back unless they have other ideas.
The conspiracy theroists are having a field day with this one. We've heard nothing from Langston, thought to be a Panamanian registered Swiss banking company (but I don't know how sure that is) with Sam Hammam being the go between. Is Hammam Langston? Is Sam trying to get control of the club back after he left in 2006. Peter Ridsdale was brought in by Sam to sort out the finances and soon after Sam has gone, Ridsdale's Chairman and then out of the blue comes this legal action. Could it be a clash of ego's?
Peter Ridsdale defended the initial writ with claims of "no case to answer" "watertight" and "a robust defence". As time has gone on he's become less confident with quotes in todays press even distancing himself from the possibility of financial meltdown
"In terms of the court case, this is a dispute about something that was put in place prior to my arrival," he said. "I find it disappointing because I think people ought to be sitting down and talking, not rushing off to court. Obviously the future of the club is at stake but it's out of my hands."
Thankfully he ended by saying he would take legal advice if things went against him. Maybe he should have done that at the start and not made out that we has such a solid case that has turned out maybe not quite as solid as we thought.
"If we lose the case I will have to take legal advice - and obviously I will stand by that legal advice," he added. "There is no doubt that if we do lose then it will materially damage the club because we don't have £30million to hand over to somebody.
"I am very close to my legal advisers and as a director of the company I would have to take the appropriate reaction as recommended by the expert in company law."
At the end of the day for us fans it's the football club that matters. I only hope that our club is not ruined by the suits fighting over who gets the biggest wedge. This dispute is damaging possible progress of the club and the sooner it's sorted the better.