Argus, basically what Steven says is pretty much bang on. The Trust Board at the time did have SERIOUS reservations about Propco, though when it was first mooted, the plan was to get rid of all the debt. However, when it became clear that the club would only be able to pay off half of the debt it began to sound even worse.
However, we now find ourselves in the position that if we can't even clear half of the debt we will cease to exist in our current form. So it's because of this that we (everyone, not just the trust)need this to go through OR you can say goodbye to club before too long.