Statement from the Board of Directors
First Trust Bank sold a historic debt owed by Glentoran Football Club earlier this year. This was done without any formal warning. Club shareholders were formally informed of this at the company AGM in June. Shareholders were also informed at the AGM of the actions in place to ensure the debt would be fully repaid by the club in an organised and structured manner.
The club was shocked that First Trust took the arbitrary decision to ignore its societal obligations by selling this historic debt without consideration for the impact of the decision on the community in East Belfast.