12-06-2023, 03:23 PM
(12-06-2023, 02:44 PM)slayer Wrote: Floors all yours if you want to demonstrate how the two scenarios are different
We had the money, we had the cash flow to pay off the loans as per the amortisation schedule. We also had the assets (players). Our demise was triggered by the illegal activity by the ultimate beneficial owner.
Once the assets were frozen, this triggers the bank to call in the loan. And also prevents any refinancing (quite rightly). We sold something like £140M of players and approximately £0 was paid back to creditors.
I'm not saying we didn't have dodgy owners, because we did. Very dodgy. But it wasn't becase they were skint that we imploded. It was the illegal activity.