Jeremy Peace’s Net Worth & Bio – Real Housewives of Jersey

Albion’s minority owners have discussed requesting an investigation into a loan the club made to previous owner Jeremy Peace. Owners For Albion (S4A), which represents the bulk of the club’s 12% small shareholders, has long asked for an independent probe of the loan, which was issued in 2014. The club and S4A are still in discussions over the review. However, after meeting with Albion chief executive Xu Ke – often known as Ken – the group has moved closer to its aim.

In 2014, Jeremy borrowed £3.7 million from the club to fund his own firm, WBA Holdings, however when current owner Guochuan Lai took over the club in 2016, the debt was transferred to him. The Express & Star reported in January that the loan’s interest had surpassed £1 million, putting the Baggies’ debt at almost £4.7 million. According to a statement given to S4A members, the group is in discussions with Ken with the goal of the club conducting an independent investigation into all of the details surrounding and leading up to the loan.

The resolution also aims to determine if each of the club’s directors fulfilled their separate fiduciary responsibilities in regard to the loan. David Baker and Leigh Kent were recently named chairman and vice-chairman of S4A, and it is thought that they and other S4A committee members have kept working with Ken to enhance the club’s relationship with minority shareholders, with S4A now conducting frequent conversations with him.

“The relationship has clearly improved in recent months,” S4A vice-chairman Leigh Kent remarked. “We have open and constructive dialogue with Ken on many key issues relating to Albion, as we seek to work together to achieve what is best for the club. We appreciate Ken’s efforts in this regard. An example of this is Ken agreeing to hold our General Meeting at The Hawthorns on July 8, rather than in London as had originally been arranged.”

S4A previously alleged that Jeremy may have used the club’s debt to WBA Holdings to help fund a three-month-old bid for shares in WBA Group, the club’s parent business. In 2014, Jeremy raised his holdings in WBA Group from about 65 to 88 percent. He sold the club to Lai for £200 million two years later. Jeremy has always vehemently denied using the money to expand his personal stake in the company. The loan was “competitively advantageous” to the club, according to the former chairman. The Express & Star attempted to reach out to Jeremy for comment on a possible review but got no response.

Furthermore, despite losing in their desire for a comprehensive probe into a £3.7 million loan given to previous owner, Jeremy, in July of last year, Albion’s minority owners promised to battle on. At the time, it was revealed that the club intends to repay the debt by issuing a dividend to shareholders, which would then give WBA Holdings with the required finances. S4A, on the other hand, criticized this strategy as “wholly inappropriate” in a statement the next day. The group condemned the inability to commission a comprehensive study as “disappointing” and “perplexing,” while expressing appreciation to Ken for fielding more than 90 minutes of questions during the meeting. They are still hoping that the club may rethink their decision in the future.