I believe the statement from Michelle covers more of the truth than the majority of the posters on here, Hilton taken no fee and wiped out personal monies invested & Elliott massively assisted. Maybe all was not as black and white!! As many here believe.
I’d expect that arriving at that club statement to have had a high level of interpersonal politics involved. These things are almost always worded to be palatable and in favour of all parties. They’re usually designed to set-up a narrative all have agreed upon, and don’t necessarily reflect the truth.