Vedanta Hedging have been investigating and analysing LOBO loans sold to Councils for nearly four years. Abhishek Sachdev (CEO of Vedanta Hedging) helped to first expose this issue on Channel 4 in July 2015.
Abhishek spoke to the BBC on The World Tonight about the extent to which some councils are affected by these LOBO loans.
Abhishek Sachdev: “If these LOBO loans were brought onto the balance sheet, as it were, I believe that these councils would effectively become insolvent, such is the scale and size of these breakage costs. The numbers involved here are truly astronomical in relation to the size of council budgets” (The World Tonight, 20/03/19, 34:01)
You can listen to the full report by clicking on the following link: https://www.bbc.co.uk/sounds/play/m0003d9q