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Arena Television defrauded UK lenders of GBP282 million, administrators claim

By Phoebe Seers ( January 10, 2022, 14:00 GMT | Insight) -- Arena Television secured loans of more than 280 million pounds ($380 million) in the UK, most of which was against assets that don’t exist, before it collapsed in mid-November, its administrators have said. Arena, whose directors are said to have left the UK, had been involved in sports and events coverage that included the Glastonbury music festival, the Wimbledon tennis championships and FA Cup coverage for the BBC.Arena Television, which collapsed at the end of last year, secured loans of more than 280 million pounds ($380 million), most of which was against assets that don’t exist, its administrators have said. ...

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