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City council to sue Nottingham Forest
England - 30 July, 2004
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The Football League Championship club took out a loan in 1994, under the council’s guarantees, in order to finance the stadium reconstructions as perpetration for the Euro1996 tournament. Over the years only interest payments were paid and with full loan becoming payable this year in June, the club failed to pay it. The council now settled the total £ 4.5m owed and filed a claim in courts to recover the money. The council will take action to repossess the club’s grounds if Forest is not able to pay the debt plus interest and fees.
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