Mr Green told Mr Justice Marcus Smith, sitting in London, that as a result of the Seasiders reaching the Premier League, the club received £106m ($134m), which included £48m for the 2010-11 season and £58m of "parachute payments" following Blackpool's relegation at the end of the season.
Mr Green said the Oyston family's case was that at all times they had been transparent and open in relations to payments made out of the club, which he disputed.
"There was, in fact, the adoption of a deliberate strategy by the Oyston family to take cash out of Blackpool Football Club, and do so in a way VB Football Assets and its nominated directors could do nothing to stop that was the antithesis of transparency."
He added: "Owen and Karl Oyston have treated Blackpool Football Club as the Oystons' personal cash machine."