Yesterday OKR Financial Ltd. has placed London Road Stadium into receivership as a first step toward the recovery of the OKR Financial Ltd. Fund loans across all Peterborough Football Club related entities.
Numerous actions taken by the Club since October 2022, plus the lack of movement in paying any portion of the existing loan at either the Club or the Stadium in almost a year have left OKR with no other option with respect to protection of the OKR Financial Ltd. investors, who have been told by the Managing Partners at the time of the loan that it would be paid in full.
“Attempts to move loans between entities, the addition of new debt, and an attempt to change the ownership structure are all actions that have been taken by Club certain Club directors, which when viewed in their entirety, indicate a lack of willingness on the part of these parties to maintain fiscal responsibility regarding the management of the Club”, said R Stewart Thompson, Managing Partner of OKR Financial Ltd. “It is a shame that this distracts from the good work on the field by the Manager and the team.”
Ideally, this action will culminate in a successful settlement where no further action is required, regarding the multiple loans the Club has outstanding with OKR Financial Ltd.
R Stewart Thompson – [email protected]