Queens Park Rangers have been surprised to find themselves negotiating with Ray Hocking over the debilitating £10 million loan taken out with mysterious Panamanian company ABC Corporation.

 

Hocking was the administrator of QPR back in 2002 when he arranged the loan to take the club out of administration. The terms were very favourable to ABC, with an annual interest rate set at 10%.

Now Hocking, who was previously fined and reprimanded by the Insolvency Practitioners Association over a separate case, has left administrators BDO Stoy Hayward. But QPR were informed by ABC they should now negotiate with Hocking, giving a potential conflict of interest.

 

Hocking said any connection to ABC is 'historical' and denied he has represented them, despite QPR's insistence that he met them last summer about the loan.

 

ABC have no named directors, but convicted fraudster Michael Hunt, sentenced to eight years in prison in 1994 for his part in a £55m tax fraud while at Nissan UK, is believed to be behind the company.