welshbairn
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Posts posted by welshbairn
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Given the latest revelations in the last few posts, all I can say is... MORE POPCORN! Anybody know who the guests are on tonight's episode of Scotland's favourite soap...or, 'Newsnight Scotland' if you prefer.
Mark Daly says he's going to be on BB1 Scotland news at 6.30 and Newsnight Scotland at 11, but he said he was going to be on Newsnight last night and wasn't unless I missed it..
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Daily Express via BBC rumours, unless Just a Bairn's heard it elsewhere. He hints at it in his post Dundee interview on FTV as well.
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The rangers media forum has been a real revelation in all this, a great laugh.
They're very easy to please, you would have thought some of them might have known the difference between a poster and a mural though..
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Craig Whyte = The panto villain (Boo! Hiss!)
He did what certain people wanted him to do while they take the moral high ground while either hiding or joining the mud slinging
Stinks
He's certainly been doing what I wanted him to do..
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No - whyte had lodged 33mill with his lawyer previously to prove to Murray he had the dosh to pay the Lloyds debt, and enough left over to fund the running of the club for a minimum of 4 months, it was about 6 months after this the tickets deal was done. I wonder if the original 33mill was even his money, and if so where did it go?
Years ago I borrowed a grand from a mate for a week so I could get a statement for US and Canadian immigration showing I could afford to support myself as a tourist, when I was actually skint and had to look for work illegally straight away. He probably borrowed it from client's funds with Pritchard's Stockbrokers..
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Mark Daly's doing piece on Newsnight Scotland again tonight. Might have to run out for more popcorn...
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No it isn't. He is exploiting a failing business. In a capitalist system failure is simply flushed out of the system and bad investments go down with it. You sound like you have no idea about capitalism whatsoever. If it leaves a gap in the marketplace to exploit then something will fill that gap, whether that happens to be a new club along pretty much the exact same lines or not I have no idea. But something will turn up.
The money not going to HMRC is tough titty actually, and I dont care about it whatsoever, the less money they get the better. The money not going to creditors is the actual bit of capitalism that IS working. They decided to do business with Rangers (bad investment) and will subsequently lose money. HMRC can just get to f**k as it is simply a parasitical tick on the body of the free market.
That's like saying if you don't lock your door you deserve to be burgled, and the thief is just doing his bit for law and order.
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Dave King (spotted at Ibrox today chatting with Ally) sounds like the ideal man to take over from Craig Whyte: My link
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Anyone acquainted with the Financial Assistance act? My link If he broke it by using company assets to buy the club he could be banged up for two years. Maybe that was why he was so keen on keeping quiet about Ticketus, aside from knowing it would wind up the fans if it became public knowledge,
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Not sure what the whole uproar is on the fact he borrowed against future cash flows to finance the purchase, this is entirely normal in business and indeed the Glazers have done it successfully at Manchester United. He may well have shown proof of funds prior to the purchase but he would have to be an idiot (in a business sense) to use entirely his own cash to fund the purchase. Similarly, he's actually entirely right that no more money should be put in to the business until the adminstration process is complete, it's better to keep your powder dry so to speak (well, assuming he has any powder in the first place...). It's good business sense even if football supporters don't like it.
Of course, the fact that he's hidden and twisted the truth should be of concern, but those calling for fraud charges and the like are way off the mark.
Anyway, my tuppence on it. Not bothered if Rangers live or die, I just need to see that capitalism doesn't get a bad rap
If, as you argue, that what Craig is doing in this case, and has done many times before, is normal practice, then surely it's a massive indictment of capitalism. What he's effectively doing is hiving off assets that should be reserved for paying off creditors, to buy the club, forcing the club into administration by refusing to pay current PAYE and VAT, getting first dibs on remaining assets as a result of preferred creditor status, and ripping of the other creditors again by paying back x in the pound if a CVA is agreed, or nothing if the company gets liquidated. And it's all perfectly honourable business practice! Move along now, nothing happening here..
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Maybe so, but the only thing he's done that's maybe illegal is non payment of the PAYE.
The rest isn't pretty but isn't necessarily illegal, he has told a few tall tales though!
According to an HMRC spokesman the non payment of PAYE is not illegal, so long as you keep records of what you owe. All that can happen is your company gets liquidated. It's amazing what appears to be legal for those liquidation vultures, or restructuring experts as they like to call themselves..
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I think he's finally cracking. He's been forced to admit lying about the source of the money he used to pay off Lloyds, and about selling off future ticket sales. He's already trying to lay off blame on his "corporate advisors", ie. his City mates, who have already been furiously distancing themselves from him, closing down websites etc. These people are used to dealing under the radar, using borderline legal methods to make a quick buck, but expecting only rudimentary scrutiny. Now their networks and dubious practices are getting the full blast of publicity and curiosity from the media and thousands of amateurs scouring the internet. Craig Whyte's going to be a very lonely man.
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Latest from Duff Man:
DUFF and Phelps, Administrators of Rangers Football Club, today issued the following statement.David Whitehouse, joint administrator, said: "Since being appointed administrators last week there has been widespread concern raised with us, not least by Rangers supporters and season ticket holders, about the agreement between the Club and Ticketus.
"Following information received, it is now apparent that the proceeds from the Ticketus arrangements amounted initially to a sum in the region of £20 million plus VAT. Subsequently, £18 million was transferred to the Lloyds Banking Group.
"The application of the remainder of these proceeds is subject to further examination.
"We are now investigating all the circumstances surrounding both the purchase of the majority shareholding in Rangers Football Club plc and the flow of funds which stemmed from the transaction and were intended to fulfil the purchasers' obligations at the time of the sale.
"We cannot comment further on these matters while enquiries continue."
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My favourite bit...
My corporate advisors came to me with the proposition that it was entirely possible, as well as highly beneficial, to negotiate a deal with Ticketus that would allow us to complete the takeover...
Naughty Craig, naughty..
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Is that true? I thought that only applied in England. The league can intervene on debts between clubs but I'm not sure players have any protection as football creditors.
Back on the Ticketus front. If it does all go tits up, I'm sure Ticketus are insured with someone like AIG or Lloyds and they will pick up the tab on a claim.
They claimed to have Credit Default Insurance that sounds like one of these tools that fcuked the banks up. The bit on the website that mentioned it seems to have been removed, so maybe it's harder to get these days.
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Can someone please copy and paste
Tuesday, 21 February 2012
RANGERS CAN ESCAPE WHYTE'S £24M TICKETUS DEAL- Exclusive
RANGERS may have the chance to wipe out the £24.4M raised by Craig Whyte from Ticketus against the sale of the club's seasons tickets over the next three years.
And it won't cost any new regime a penny!
For if one of the 26,000 Rangers shareholders raises an action questioning the binding legality of the deal by which Whyte bought Rangers for a quid from David Murray, then Ticketus could be left to chase Whyte and not Rangers for he cash.
It all hinges on whether Whyte had official and documented permission from the relevant financial regulators to use a device called Financial Assistance.
That is when you are allowed to raise money to buy a company BEFORE you actually own it.
Whyte opened talks in March with Ticketus about getting his hands on their cash, using the Rangers season tickets as his bargaining chip. The Ticketus deal went through on April 7th when the money went into Whyte's client account at his London lawyers, Collyer Bristow, a full month before Whyte assumed control of Rangers.
If it can be proved that no documented permission from the relevant financial regulators exists then Whyte is ousted and Rangers revert to the ownership of David Murray.
Or if any legal challenge by any one of the club's 26,000 shareholders concerning Whyte fulfilling the obligations he signed up to in the contract, meets with success, then once again Whyte is ousted and David Murray re-takes ownership of Rangers.
Should that happen, David Murray will be under severe moral pressure to sell his shares to Paul Murray for a quid, thus releasing whatever funds Paul Murray and his consortium have available, to be used as working capital for Rangers.
I believe that capital sum will be just over £20m even before Paul Murray's plans to involve supporters kicks in.
And be assured, if Paul Murray moves in then the books will be opened. An independent audit will take place and an Annual General Meeting called.
All of which will serve as forerunners of Paul opening the wider ownership of Rangers to large, medium and small investors, right the way down to ordinary supporters, in order that never again can one man own Rangers as David Murray did and exert so much power right up to the selling of the club to Craig Whyte, leading to Rangers going into administration.
Let's be clear about this. Paul Murray does not want to OWN Rangers. He wants to SAVE Rangers. And then widen the ownership and allow supporters to have a say in how the club is run.
None of which can be achieved overnight. Or this week. Or this month. Or even by the end of next month.
Rangers could be tied up in red tape for a long time to come, particularly if Whyte decides to fight his corner through the courts.
But if he does, then what do you think the first question any QC would ask after Whyte took the oath?
"Mr Whyte, when giving judgment against you, you have been described by a Sheriff as a wholly unreliable witness. Why should we believe any evidence you give today will be reliable?"
My bet is that Whyte will accept some sort of deal to step aside, returning Rangers to safe hands, with the fans given a bigger say than they have ever had.
There will be more revelations regarding Whyte's dodgy deals and you can be first to know that trhey are coming.
Remember, last week I anticipated there would be more shock news involving Phil Betts, Aiden Early and Banstead.
I was bang on he money!
AGAIN!
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How does a bank lend you money for a mortgage to buy a house you don't own?
The bank doesn't hand you a cheque a month before the sale, and the money is only transferred when it's got it's hands on the deeds. The administrators have already said that Ticketus have no security attached to the club.
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They made it quite clear they purchased tickets for Rangers home league matches for the next four years to the tune of £24M. Those tickets were sold by Craig Whyte, which he is perfectly entitled to do.
How could he be entitled to sell tickets for a club he didn't own? That unreliable lump of hate, David Leggat has come up with new theory, that maybe he wasn't: My link
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That is incredible.
Surely he'll never be able to show his face in Scotland again for his own safety?!
I really can't understand how he thought he was going to get away with this.
The incredible thing to me is how much of this stuff is legal. He's pulled similar scams many time in the past, and only got busted once, and then not on criminal charges. I could see him laughing all the way to his bank in Monte Carlo.
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The interesting thing now is what security Ticketus have on the £24 million, and whether the club is under any obligation to honour it..
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They've hidden the thread away now, but the link still works at the moment. In case they completely delete it and try to deny it was was ever there:
To everyone of them I would like to thank them, for being a part of our great clubs history. Also for bringing us many happy times. Once a Ranger always a Ranger.3
Mr William Smith
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#2 ben51
Bleeds Royal Blue
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Posted Yesterday, 01:40 AM
For any part you have played. I thank you.
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#3 aldo1690
Michael Mols
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Posted Yesterday, 01:48 AM
join the queue behind me and do not try to duke or i'll poke your eye out with my tea spoon:|
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#4 Madina
Davie Cooper
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Posted Yesterday, 01:52 AM
Feel so sorry for them. I'm sure they will be bitter if they are one of the ones to go but hope they will still have a place in their heart for us
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BadSocialWorker
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Posted Today, 04:21 PM
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#5 MasterD
Ally McCoist
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Posted Yesterday, 02:01 AM
Good luck for the future to any players that are released.
For the staff further down we should do a questionnaire and get rid of the catholics first.
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#6 EKtrueBlue
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Posted Yesterday, 02:25 AM
MasterD, on 19 February 2012 - 02:01 AM, said:
Good luck for the future to any players that are released.
For the staff further down we should do a questionnaire and get rid of the catholics first.
Could't agree more hahaha !
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#7 Madina
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Posted Yesterday, 02:29 AM
Does Durranty's wife work for the club? Someone told me this today
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#8 Colonel Mustard
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Posted Yesterday, 02:30 AM
MasterD, on 19 February 2012 - 02:01 AM, said:
Good luck for the future to any players that are released.
For the staff further down we should do a questionnaire and get rid of the catholics first.
Tarriers out first, as you say mate.
The day we started employing these c***s was a sad day for Rangers.
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#9 Prodigy98
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Posted Yesterday, 02:38 AM
Wee kitchen lad walked past me the day at Ibrox n laughed, musta been one of them!
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#10 EGIL OSTENSTADf
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Posted Yesterday, 02:39 AM
Colonel Mustard, on 19 February 2012 - 02:30 AM, said:
Tarriers out first, as you say mate.
The day we started employing these c***s was a sad day for Rangers.
My thoughts are with all the fellow proddies in the rangers work force...Get all the *****s n moslems oot the door first n ps can u take big dorin way use
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#11 laudrupno1
Terry Butcher
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Posted Yesterday, 03:46 PM
Bad time to loose your job as tough times,good luck to them.
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#12 Ger for life
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Posted Yesterday, 03:52 PM
laudrupno1, on 19 February 2012 - 03:46 PM, said:
Bad time to loose your job as tough times,good luck to them.
Totally agree with this good luck to anyone unfortunate enough to be made redundant from the club,this is the harsh reality of administration and is often overshadowed in the quest to obtain the best future for the club.
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#13 Coistylegend
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Posted Yesterday, 04:14 PM
**** out first please.
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Failed Journalist
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#14 thebooler
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Posted Yesterday, 04:21 PM
Agree. Except the chef fae the training ground.
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#15 sergio
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Posted Yesterday, 04:22 PM
I really hope it doesn't come down to it, but my best wishes are with any that do.
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#16 Bradfield
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Posted Yesterday, 04:23 PM
Madina, on 19 February 2012 - 02:29 AM, said:
Does Durranty's wife work for the club? Someone told me this today
Don't think she does, not directly anyway.
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#17 stuart52
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Posted Yesterday, 04:28 PM
Colonel Mustard, on 19 February 2012 - 02:30 AM, said:
Tarriers out first, as you say mate.
The day we started employing these c***s was a sad day for Rangers.
This
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#18 BILLYBOY50
Andy Goram
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Posted Yesterday, 04:42 PM
agreed we should not have employed any of those smelly tarrier b*****ds in the first place but get them all out the fucking door now. no surrender
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#19 JohnnyAB
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Posted Yesterday, 05:22 PM
Why do you's care about what religion the staff being let go are? Surely the priority is to keep only those who are absolutely necessary for the restructuring of the club, and unfortunately make the others redundant
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#20 jamie_rfc_9
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Posted Today, 12:15 PM
Agree with the comments about the **** f**k them all but there's a tim on twitter sending this thread to the stv guys on twitter
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If anyone's got any popcorn left, Ulster TV are supposed to be doing a big Rangers piece on the local news at 10.30. Could be an interesting perspective...
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Craig Whyte's lawyers, Collyer Bristow, who have sent the administrators new information supposedly to do with the missing Ticketus dosh, may have been a bit naughty:
Collyer Bristow will appear as a joint defendant in the £50m Innovator One case. The claim against the firm and former partners John Bailey and Jonathan Roper concerns complex investment initiatives, known as ‘Innovator Schemes’, that were promoted by the firm as tax-advantage vehicles.Investors hoped to be able to claim tax relief on sums invested by them for participation in the schemes, which would use the cash to buy and exploit technologies. The intended investment vehicles were 19 entities, 16 of which were LLPs and the remaining three general partnerships.It is alleged that the project, which Collyer Bristow is accused of promoting, was a scam and a fraud and that conditions for the claimants to become members of the schemes and for their subscription monies to be paid to the partnership vehicles were never fulfilled.
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Big Rangers Administration/Liquidation Thread - All chat here!
in Celtic v Rangers, Rangers v Celtic
Posted