So in summary we owe £125M or so and are worth probably about £25M. Does that sound like a reasonable estimate?
We are insolvent to the tune of £100M and are only propped up by VLLs share capital which isn't really worth the paper it is written on as it's main asset is a football club which is worth bobbins. Excuse my lack of understanding of accounting principles but this sounds like a fair summary.
What a mess, Venkys would have to stand a loss of more than £200M if they were to sell, I can't see that happening so we're stuck with them for the foreseeable.