03-03-2015, 20:53
(03-03-2015, 20:36)Trusevich Wrote: Again, the drawdown of part 2 of Ashley's loan doesn't strike me as entirely legal, unless the business requires it before Friday. Can this be challenged?
If not, it adds even more importance to the need for King to clear those debts pronto. Time for him and the Park, Letham and Taylor consortium to step up.
I agree but how will they finance clearing those debts?? The club has no spare money sitting around, so the only way would either be a new share issue, which would take time, or a loan from somewhere else to pay off the existing loans? King certainly appears to have the money to lend the club enough to clear the loans MA has given, but then he will want collateral over the loans just like MA did, and in reality the club will be no further forward!!