11:49am Monday 28th January 2013
By Frank Smith
The Football League hearing into Watford FC and former owner Laurence Bassini's misconduct charge started today.
The hearing is held in private and we understand there is no guarantee that a decision will either be made or revealed this week.
Watford and Bassini were charged following alleged breaches of the Football League's regulations relating to two separate transactions between the Hornets and LNOC, a finance company.
One of the allegations relates to two installments following Danny Graham's sale to Swansea City and the other transaction is for two promissory notes worth £1.8m.
In November, solicitors acting for Bassini said: "We are not instructed by Mr Bassini in relation to the proceedings commenced by the Football League however we understand from our client these matters are currently the subject of legal action and are being defended vigorously and he is therefore unable to comment further".
At the time, Watford would not comment on the matter publicly and the Football League has continually remained silent on the matter.
The Hornets again refused to comment this morning but speaking at the AGM of the club's parent company in December, chief executive Scott Duxbury said he was "extremely confident of a successful outcome".
"There is a wide range of sanctions that can be imposed, however, we continue to cooperate with the Football League so we remain extremely confident of a successful outcome," Duxbury said at the time.
When asked about the possibility of Watford receiving a points deduction, director Stuart Timperley replied: "There is the possibility of a whole series of sanctions and I think I will leave it at that."
He later added: "For a number of years I chaired Football League tribunals so that is why I am a little circumspect about commenting.
"Scott has been extremely thorough in preparing for this so we are hopeful."
Click here to read about the details of the misconduct charge.
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