24-05-2019, 21:48
Chris Lepkowski the best Midland journo before he retired from the Birmingham mail a freind of mine and we still chat, also knows everything that went on ...
Read on ,very interesting ....
Just saw this thread on Chris Lepkowski’s Twitter Account
May be a case of hell has no wrath etc. etc. Have no idea what the implications are.
This is a big deal on many fronts. Firstly, loan taken out in 2014 - that particular summer was one of 8 frees/loans of players (Gamboa, Davison, Samaras) on relatively modest wages (though they did pay £10m for Browns). Also the year of Irvine arrival - so basically all low cost
Secondly, Jenkins was the sole director of Group from 2013 to late 2016. Also, Peace sold Holdings ( August 2016 ) when the FC directors knew the loan was partly in default –and no interest paid. Jenkins is now CEO and so therefore some burden of responsibility to call in loan?
When one repayment is missed - as has happened - notice could be given demanding the whole loan back; a normal condition of repayment loans. But not this one? Strange.
Crucially, in a week where WBA have pleaded poverty and tried to offset the non-signing of Gayle against ensuring staff won't be made redundant, they are owed in excess of £4.1m - a figure that would easily help ease financial issues, possibly even pay for 12 months of Gayle.
Basically, the whole thing stinks
Jenkins has Qs to answer. Loan taken out (in 2014) on his watch as finance director & sole director of WBA Group? So presumably he agreed it? As CEO why hasn't he called it in? What was that loan used for? ( I wonder....?) Why wasn't it repaid when JP sold?
BTW, it is a matter of public record that Peace, via his company Holdings, acquired just over 10% under his offer in July 2014 which was a few weeks before he and Holdings had the loan. That took him past the vital 75%
Read on ,very interesting ....
Just saw this thread on Chris Lepkowski’s Twitter Account
May be a case of hell has no wrath etc. etc. Have no idea what the implications are.
This is a big deal on many fronts. Firstly, loan taken out in 2014 - that particular summer was one of 8 frees/loans of players (Gamboa, Davison, Samaras) on relatively modest wages (though they did pay £10m for Browns). Also the year of Irvine arrival - so basically all low cost
Secondly, Jenkins was the sole director of Group from 2013 to late 2016. Also, Peace sold Holdings ( August 2016 ) when the FC directors knew the loan was partly in default –and no interest paid. Jenkins is now CEO and so therefore some burden of responsibility to call in loan?
When one repayment is missed - as has happened - notice could be given demanding the whole loan back; a normal condition of repayment loans. But not this one? Strange.
Crucially, in a week where WBA have pleaded poverty and tried to offset the non-signing of Gayle against ensuring staff won't be made redundant, they are owed in excess of £4.1m - a figure that would easily help ease financial issues, possibly even pay for 12 months of Gayle.
Basically, the whole thing stinks
Jenkins has Qs to answer. Loan taken out (in 2014) on his watch as finance director & sole director of WBA Group? So presumably he agreed it? As CEO why hasn't he called it in? What was that loan used for? ( I wonder....?) Why wasn't it repaid when JP sold?
BTW, it is a matter of public record that Peace, via his company Holdings, acquired just over 10% under his offer in July 2014 which was a few weeks before he and Holdings had the loan. That took him past the vital 75%
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