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Swann writes off £11 million

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MuddyWaters
April 22, 2021, 9:42pm
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Northbank Mariner
April 22, 2021, 9:46pm
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Shame our beloved principal funded didn't write his debts off too, Stockwood n Petit could have then chucked ten bob in the parking meter and owned the club...!!!
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MuddyWaters
April 22, 2021, 9:50pm
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Sadly, our principal funder is a zero or two behind the Swanns in both the financial and principles department.
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ginnywings
April 22, 2021, 9:57pm

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Now that's what I call a benign loan.
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RonMariner
April 22, 2021, 10:40pm

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Well, that was 11 million well spent.
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Fillipe Noche
April 22, 2021, 10:48pm
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No such thing as a free lunch. He has transferred the main assets of the club into his private business. When you take that into consideration you then start to understand the justification in writing off the debt.

In addition to holding significant assets now in his private business, he will also receive rental income from Scunnie into his property business
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pizzzza
April 22, 2021, 10:53pm

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Got some neck on him that Swann.
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Fillipe Noche
April 22, 2021, 10:57pm
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Quoted from pizzzza
Got some neck on him that Swann.


Certainly has. If that was John Fenty offsetting debt write off with a transfer or major assets, he would be getting absolutely crucified
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HerveJosse
April 22, 2021, 10:59pm
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Documents posted here say consideration for the write is the transfer of the ground and various parcels of land to the company owed. Hardly a write off
In most people’s understanding of the words
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Fillipe Noche
April 22, 2021, 11:00pm
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Quoted from HerveJosse
Documents posted here say consideration for the write is the transfer of the ground and various parcels of land to the company owed. Hardly a write off
In most people’s understanding of the words


Exactly
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