What are the rules that prevent Tan converting debt to equity?

[Pedro de la Rosa]

This was my understanding - that it was Malaysian regulations that prevented this from happening. If it is, I can't find any such regulations, but I can find lots of examples of Malaysians investing 100s of millions in the U.K. Which makes me think this is more about FFP. I'm now wondering what the rules were in February 2016 (Prnarth's post points at 2016/17) when Tan publicly announced an immediate debt to conversion of £68m.

We can't speculate, he's converted a great deal of debt to equity. I don't really like the bloke but I don't think you can argue with too much of what he's done since Warnock's came in. He's kept his mouth shut, for one, and been on the periphery. If the rebrand never happened, I think most would quite like him.

[Harry Monk]

We can't speculate, he's converted a great deal of debt to equity. I don't really like the bloke but I don't think you can argue with too much of what he's done since Warnock's came in. He's kept his mouth shut, for one, and been on the periphery. If the rebrand never happened, I think most would quite like him.

To be fair, if it wasn't for the rebrand, he'd be acclaimed as the new messiah.