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In the statement, Sports Direct said shareholders are "tired of being ignored, dismissed and trampled on by Debenhams lenders".
The statement accused Debenhams' board of directors of "incompetence or worse collusion" – conspiring with lenders to develop a plan for eliminating shareholders.
Chris Wootton, Deputy Chief Financial Officer of Sports Direct, said: "We will not neglect any effort to prosecute those responsible for this long-planned flight."
It's very strong but it sounds a bit like a scream of defeat.
Even though Ashley managed to transfer all of Debenhams' shares, he did not offer to pay the company's lenders.
Their debt (in the form of bonds and loans) gives them considerable power.
They could push society to the administration if Ashley took control.
In any case, he is annihilated.
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