No where have I've slandered him nor have I claimed he has done anything illegal, I used to be able to study the accounts when we was listed but your rosy assessment of how the business was conducted you failed to mention the people who could not afford the cost and did want to sell. Now are you also telling me the loan to buy the club JP payed this off himself ?
I'm not Jeremy Peace so I don't know the intricate ins and outs of the accounts, so for a start I'll request you give me the benefit of the doubt over MY understanding of how deals like this are done:
West Bromwich Albion Holdings - the company that JP is Chairman of has the loan with Barclays. This loan (apparently £10m, I'm going off what you guys say) will therefore be on Holdings and their fixed and tangible assets will be collateral. As far as I can tell, Holdings owns the ground, training ground, other properties and other assets to a tune of about £40m. The COMPANY WBA Holdings is liable for this loan, not Peace himself. With £40m+ in fixed and tangible assets, the loan was approved in the company's name.
With the dissolution of the previous company WBA Holdings in 2013, the assets held were purchased by the new co (confusingly called WBA Holdings) which would be purchased with funds not tied into shares - conceivably Peace's (or other investors in the company) own money. This would then mean all assets that the loan was taken out against would be purchased and owned, properly and legally by Holdings, whose majority shareholder is Jeremy Peace. He HAS put his own money into the club through three different company's (both parent company and subsidiaries). However I'd hasten to add that Jeremey Peace as an individual is not where you need to look for the details of these financial workings - his company WBA Holdings is and the two aren't interchangeable. The complexity of this all is also evidence that people can't just bandy around rubbish like Peace stole control of the club.
Either way, regardless of if you want to stick to this story that Peace took out £10m and wrestled the club from the grasps of the honest fan, its not 'him' who owns that loan but a company he is main shareholder for. The company is good for the £10m + interest on the loan and therefore, indirectly, Holdings can use the loan to purchase shares in Group, knowing that the COMPANY is good for the loan payments. Everyone needs to disassociate themselves with Peace acting as an individual and WBA holdings as a business entity which has been conducting these deals. Business and corporate dealings are far more complicated than people are making them seem by treating this as a sole individual acting and not a business. Until you can see that 'Jeremy Peace' and 'a company with £40m worth of assets, headed up by Jeremy Peace' aren't even remotely similar, the sooner you'll realise there's absolutely no wrongdoing, legally or morally, at any point.
So stop beilieving any old rubbish thrown about, learn some corporate law, realise this is all legal and isn't some individual stealing the club from the fans, and accept that this is business done legally and right.
Oh and those spouting off about Peace's wage, before 2013 he earnt less than £120k a year from the club. So we can all stop with the stories that he's stolen a wage for years, he went 9 years earning next to nothing for a high level director in a company making tens of millions. But suppose that doesn't fit the evil Mr Scrooge narrative.
