The following article was written by none other than the Chief Sports Writer of the Guardian newspaper:
Liverpool owners to raid profits to pay interest on loans
“The payment of interest on, repayment of or security for any liability (contingent or otherwise) due under the facilities [loans] will not depend to any significant extent on the business of Liverpool”, the official offer document to shareholders stated.
So interest, capital & collateral ‘won’t depend to any significant extent‘ => ‘it will depend to some insignificant extent‘. So how do you define the words ‘ depend’ and ’significant’?
Surely paying the full interest amount is ’significant’? Surely they now ‘depend’ on LFC assets to provide a ’significant’ part of the security for the debt?
