Thread by @CraigDPowerOut

#STFC Talksport Interview w/Power (thread 3/3)
SJ- Have you picked up the phone to Trevor Birch Lee?
LP- I’ve spoken to the legal team at the EFL this week, I’ve been on the phone to them last week as well.
SJ- Is that Nick Craig? 1/11

LP- Yeah Nick Craig, just to see where we are, obviously Nick is in a difficult position. He’s working I believe as fast as he can, and it’s not one of those positions I’ve got a willing seller and buyer. It’s been going on for 18 months these legals, very acrimonious...2/11

SJ-But you’re at the business end of it now though, aren’t you? Everyone knows where they are? He knows he got to put his 300k into the fund because the court has ordered him, he’s got to pony up 200k to you and he’s got to past the EFL f&pp That’s the bottom line, isn’t it? 3/11

LP- More or less yeah, I mean where we are now Simon Is if obviously the shares, the money gets launched the shares get transferred, he gets the obligations of the football club. Obviously, the football club is significantly in debt…4/11

SJ- Well he knows that he’s a big boy doesn’t he because he’s been involved in it?
LP- Of course. You see you know more than anyone what that is. It’s a difficult situation because when things go well....5/11

LP- ...when we got promoted the year before last obviously, you know you’re getting a statue built of you, then as soon as you get relegated this situation comes up…
SJ- Can I ask you one last question Lee? 6/11

SJ- Have you got any debentures? On this business?
LP- I have yeah.
SJ- So if the club went into administration, you would be alright, wouldn’t you?
LP- Well when you say alright, you’ve then got to find the purchasers to that…7/11

SJ- Yeah but you kill the un-secureds don’t you? If you drop into administration, you kill the un-secureds (creditors) and just leave the debenture holders? 8/11

LP- Correct so, the debentures have been there the best part of 8 years. Axis were aware of them as well and that was one of the obligations that they’re gonna have when they take over. Obviously, they need paying as well. 9/11

JW- A final question Lee, convince me that the club is going to survive before you go?
LP- Yeah, it’ll definitely survive Jim, listen there’s another party willing to step in and take over if Axis don’t pass the various tests that the EFL are asking. 10/11

LP- So, it’s just one of those situations that needs to be resolved sooner rather than later pure and simply because the football season is just around the corner, and we need to get a team on the pitch.
(END OF THREAD PHEW!) 11/11

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