Lai has moved the loan

[soulman101]

https://www.expressandstar.com/sport...-wba-holdings/

[Omegstrat6]

Seems to be just shuffling papers with the debt now falling on the majority shareholding WBA Holding Ltd. instead. Unsure what this means other than saddling the club with another 5m debt on top of all the other financial bad news😞 Certainly no indication that Lai is going to pay this "loan" back and Fat Ron has gone very quiet over this hasn't he?

[WBA1955]

I think we are fecked. The honourable thing to do would to cut his losses but like Peace he will fight to the death over a penny. He will go under and take us with him.

[baggieal]

I think we are fecked. The honourable thing to do would to cut his losses but like Peace he will fight to the death over a penny. He will go under and take us with him.

Honestly can see this happening!

[DaveP67 is back!]

The accounts have written it off to a zero value, hence we have no chance of ever seeing it again, knowingly doing this with out any intent or mechanism to pay it back is pure evil and should be a criminal offence, which I believe it is?

[Albionic68]

It's been written off for the period covered by this set of accounts. It's still on the books as money owed to the club though and is therefore still recoverable during an as yet unspecified future accounting period.

That future period could well be in a galaxy far far away but the debt itself hasn't disappeared into thin air. And even if it has it might not be the worst thing that could happen.

If we don't meet MSD's repayment schedule for 'our' loan with them we could slip into administration and get sold off to a new owner at MSD's price of asking.

There's a silver lining in every cloud and that's ours but knowing our luck we'd end up with Lawrence fkn Bassini in charge 😉 .