Official Nelmsy Campus Countdown

[BCram]

Agree, they want their money back, not the 29acres that they accepted as security for the loan. Our owners could refinance using another lender.

[islaydarkblue]

Agree, they want their money back, not the 29acres that they accepted as security for the loan. Our owners could refinance using another lender.

How are Dark Blue Property Holdings Limited who have nothing to do with Dundee Football Club Limited apart from two common directors going to refinance their existing loan from Soho Green with another lender.
They are currently paying Pay Day borrowing rates for a Commercial company on their existing loan with Soho Green.
When they received their loan from Soho Green on 24th November 2022 Soho Green were advertising borrowing rates of between 0.75% and 2% per month which equates to between 9% and 24% per annum.
The Soho Green investors will not wait forever to have their loan repaid in full by Dark Blue Property Holdings Limited (DBPHL) and they might take DBPHL to court to seize their assets.
If that happens then the whole thing could fall like a pack of cards with Soho Green demanding immediate repayment of their loan granted to DBPHL on 3rd October 2023 with the Dens Park Stadium put up as security for their loan.
You might remember shortly before the second pre application meeting in the Landmark Hotel, Dundee in September 2022 Nelms stated that the cost of new stadium development at the former NCR Camperdown playing fields was fully funded and if there was a slight shortfall they could easily obtain loans from financial companies in the City of London.
Two months later Nelms borrowed in excess of ?1 million from a finance company based in the Isle of Man.
In my opinion it now time for John Nelms to tell the truth and explain why he borrowed this money from Soho Green with the site of his new stadium development at the former NCR Camperdown playing fields put up as security for his loan especially as the cost of the new stadium development was fully funded in September 2022.
Hiding away in his Gardyne bunker is no longer an option for John Nelms as the wagons are circling.