Trustees and members money

[Matthew Turner]

Ernie,
As I understand it (and I may very well be wrong) there is a big difference between the Cleveland Trust and the Chess Centre Limited

Cleveland has a Trust that is administered by the three people you mentioned

the CCL is administered by Alan Martin and Gerry Walsh as Directors

You can argue about how good a job those administering the funds do. Certainly one could argue that the CCL Directors keeping the assets in Cash has been extremely wise over the last few years. However, the big difference is that Cleveland owns it's Trust. The ECF does not appear to own CCL. It is owned my Mr. Richardson and Mr. Moore.