Forever Diamond Posted January 13, 2015 Share Posted January 13, 2015 Why don't you copy and paste it for us then, or is Philip still frowning upon people who 'steal' his blogs? I cannae wait to read it and i promise that i won't laugh. Nope,no copying from his page...clicking on it is the only way. 0 Quote Link to comment Share on other sites More sharing options...
No8. Posted January 13, 2015 Share Posted January 13, 2015 I imagine his reddie was for the absolutely abysmal attempt at humour. I am shocked Dhen couldn't work that one out for himself. Then again..... -1 Quote Link to comment Share on other sites More sharing options...
dave.j Posted January 13, 2015 Share Posted January 13, 2015 I could ... but I wont .. not like he appreciates it anyhoo ... He couldn't bring himself to click on it and give Phil another figure to his visits total. 0 Quote Link to comment Share on other sites More sharing options...
AberdeenBud Posted January 13, 2015 Share Posted January 13, 2015 Why is he always bigging up the Easdales? Bizarre behaviour to say that the least. Just seemed like his usual nudge-nudge pish to me tbh, not remotely "interesting". Then again it's hard to have much interest in this clusterfuck when your own club is a fucking shambles. 0 Quote Link to comment Share on other sites More sharing options...
Podlie Posted January 13, 2015 Share Posted January 13, 2015 You need to think about it again ... that's not what he means by "King of the Hill". Think about voting on passing any CVA ... think HMRC and the club called Rangers ... think who has way more than 50% of the unsecured creditor vote (which has nothing to do with the shareholders monies, connected creditors). Do you want to try again? Edit: I'm not saying this debt exists or doesn't exist ... but if rumour is true that Somers was in a panic about the 6.5 million which is still somehow owed to Chuckles and his gang of merry bandits ... then negotations may well prove to be difficult. Though I suspect MA is not sweating it. Most creditors think about getting as much of their money back as they can, not the weight their amount will carry should it go down to a CVA vote.They still almost bottom of the heap to get paid out. No need to try again. 0 Quote Link to comment Share on other sites More sharing options...
Forever Diamond Posted January 13, 2015 Share Posted January 13, 2015 Why is he always bigging up the Easdales? Bizarre behaviour to say that the least. Just seemed like his usual nudge-nudge pish to me tbh, not remotely "interesting". Then again it's hard to have much interest in this clusterfuck when your own club is a fucking shambles. One interesting fact though is the Stadium and Murray park....if they do not own them then who does? 0 Quote Link to comment Share on other sites More sharing options...
williemillersmoustache Posted January 13, 2015 Share Posted January 13, 2015 ^^^fucking sort that out 0 Quote Link to comment Share on other sites More sharing options...
bennett Posted January 13, 2015 Share Posted January 13, 2015 Click on it then ffs! Weekly reply to Hen. No. Nope,no copying from his page...clicking on it is the only way. I remember reading about him arguing with the huddleboard, TAL and other sellick sites over folk stealing what he referred to as his intellectual property or some other shyte. Maybe you could give us all the just of it. 0 Quote Link to comment Share on other sites More sharing options...
Forever Diamond Posted January 13, 2015 Share Posted January 13, 2015 Weekly reply to Hen. No. Maybe you could give us all the just of it. What,and deprive Phil of your presence on his Blog site. 0 Quote Link to comment Share on other sites More sharing options...
~~~ Posted January 13, 2015 Share Posted January 13, 2015 http://news.stv.tv/west-central/306444-number-of-companies-run-by-sir-david-murray-set-for-liquidation/ A number of companies run by Sir David Murray have signalled their intention to go in to liquidation 0 Quote Link to comment Share on other sites More sharing options...
Henrik's tongue Posted January 13, 2015 Share Posted January 13, 2015 He couldn't bring himself to click on it and give Phil another figure to his visits total. Bennett is the manchild who hides Celtic cakes in Tesco ffs. 0 Quote Link to comment Share on other sites More sharing options...
Henrik's tongue Posted January 13, 2015 Share Posted January 13, 2015 Weekly reply to Hen. No. Any chance we can review this arrangement? I'd be happy with bi annually tbh. 0 Quote Link to comment Share on other sites More sharing options...
Dr Koop Posted January 13, 2015 Share Posted January 13, 2015 http://news.stv.tv/west-central/306444-number-of-companies-run-by-sir-david-murray-set-for-liquidation/ A number of companies run by Sir David Murray have signalled their intention to go in to liquidation Saw that this morning. Curiously, it has not been widely reported. 0 Quote Link to comment Share on other sites More sharing options...
AberdeenBud Posted January 13, 2015 Share Posted January 13, 2015 http://news.stv.tv/west-central/306444-number-of-companies-run-by-sir-david-murray-set-for-liquidation/ A number of companies run by Sir David Murray have signalled their intention to go in to liquidation Hope their club's will be ok. 0 Quote Link to comment Share on other sites More sharing options...
Macshimmy Posted January 13, 2015 Share Posted January 13, 2015 Is the info I am posting old hat? Or right in your face, plagiarism? It's been turned over before, but its difficult to assess the significance. The company at the heart of the 'ownership' saga, Worthington appeared dead until the end of last year, and the claims looked spurious. They quietly 'phoenixed' in December, and in the last few days posted this to the Stock Exchange: Worthington Group PLC 09 January 2015 Worthington Group plc ("the Company" or "Worthington") 9(th) January 2015 FOR IMMEDIATE RELEASE Update Further to the company's announcement on 12(th) December 2014, the FCA have now issued the company with guidance in relation to the transactions that the company asked the FCA to review pursuant to Listing Rule 5.6.4 (Reverse Takeovers). In the opinion of the FCA, following these acquisitions, the Company is, or will be, a fundamentally different business and therefore the transactions constitute a reverse takeover. Whilst the Company believes the arguments are finely balanced (in the Company's view, Worthington was an investment business prior to the transactions and will remain one following the transactions), the Company respects the FCA's view on this. Therefore, the Company's original request to suspend trading in the Company's shares remains in place pending a re-application for listing of the Company's shares and the issue of a prospectus. The Company has already begun work on the prospectus and will seek to complete it as soon as possible. Once completed, and the application submitted, shares are expected to subsequently resume trading in London and also be traded in Frankfurt, Stuttgart and New York. Following successful completion of the acquisitions, the Company will have substantial interests in litigation funding, media, clean energy, mining, oil and gas and property. Geographically, the Company will have significant investments in the United Kingdom, Australasia, Africa, North America, and India. Consolidated net assets of the group, following conversion of loan notes used to finance investments and before minority interests, are expected to exceed US $2 billion and generate net profits in excess of US $20 million in the first full year following acquisition, with substantial growth expected thereafter. Net assets per share, after financing costs and on a fully diluted basis, are expected to substantially exceed GBP5 per Worthington ordinary share. The Company is in the process of preparing its audited accounts to 30(th) September 2014 and expects to hold its AGM towards the end of March 2015. The AGM notice and accounts will be available on the Company's website in due course. Commenting on the news, Doug Ware CEO commented "Whilst ideally we would have liked to avoid triggering a reverse takeover, we respect the FCA's decision and will press ahead with completion of the Company's prospectus. I'm delighted with the progress that we have been able to make with these acquisitions and our pipeline of investments continues to grow. I would like to express my thanks to our shareholders for their patience and support during this process. In addition to these investments, the acquisition team will continue to progress new transactions which we believe will add further to shareholder value but which, once having produced the prospectus, will not trigger any future RTOs." What does that mean? F*cked if I know 0 Quote Link to comment Share on other sites More sharing options...
Macshimmy Posted January 13, 2015 Share Posted January 13, 2015 Here's a bit more insight from Private Eye (who aren't often wrong - they can't afford it!) regarding the relationship of the entities involved: RangersIt is ever harder to believe that the recent events off the pitch at the Glasgow club can be happening at a public company - even one that owns a footbal club.Wihin days of the police arriving at doors connected to old Rangers saviour Craig Whyte, new saviour Charels Green and his adviser Imran Ahmad are out the rangers door and Green is looking to sell his shares to the brother of a man convicted of VAT fraud.Meanwhile wyte, once disqualified from being a director, claims that he and Green were secret partners all along, together with Whyte's twice bankrupted business partner Aidan Earley.Whyte now threatens a legal claim on the 'oldco' Rangers assets acquired by the 'newco' Rangers floated last year.Amid all this, a perhaos more important question concerns the potential pillaging of a pension fund controlled by Worthington Group, another listed company linked to Whyte and Earley. That is the same Worthington Group that is now backing threatened litigation by Whyte over the Rangers assets.Worthington is a textile-turned-property business which was run until 2010 by Joe Dwek, well known in Manchester business circles since the 1970s. Back in the day, Worthington acquired another former listed textile business, Jerome Group, which had a large pension fund; in 2010 this had assets of just over £8 million. But again, like many similar old companies, that pension fund had a deficit of liabilities to pensioners over those assets of almost £3 million.In 2010 both Whyte and Earley's older brother Wulstan moved on Worthington. Whyte and Aidan Earley had form for targeting struggling companies with pension fund cash. In 2002 they made moves on FII, the former Lotus shoe group. The pension trustees were so alarmed that they alerted the Companies Investigation Branch, which began making inquiries. The threat went away. FII collapsed in 2004, largely due to the pension deficit.Regenesis Holdings (owned by Wulstan Earley) and then Whyte's company Libert Capital each built up big stakes in Worthington. Regenisis began buying in February 2010 and has 23 per cent by that August, when Liberty Capital revealed it owned 7.5 per cent. Dwek resigned from the board , which was joined by a nominee from Regenisis, Peter Townsend. Soon Whyte was looking to buy Rangers from Sir David Murray.That deal was completed in June 2011 with the involvement of Aidan Earley and the use of rangers' own funds, via an advanced ticket-sales deal of almost £18 million. Whyte has been ordered to repay that money to the ticket agency, Ticketus.New Worthington chairman Anthony Cooke informed shareholders in July 2011 that the investment managers of the Jerome fund had been changed, that its low-risk bond holdings had been sold for £ million and that a 'significant portion' of the fund's £3.3 million cash was 'earmarked' for a specific investment. That was revealed in March 2012 to have been a far from low-risk loan to a near-bust Rangers. Somehow the pension fund trustees had agreed to effectively lend £2.95 million to Worthington shareholder Whyte. Even if this loan was to have been fully secured, it is hard to see how that was a prudent investment - especially for a pension fund that by March 2012 had a £3.9 million deficit and assets of only just under £8 million.But at that time Whyte was desperate for funds to save Rangers, under siege from the taxman, from administration.The £2.95 million, instead of being held to the order of the trustees, pending completion of the loan documentation, had been paid over by Rangers/Whyte's solicitors Collyer Bristow to the club before it collapsed into administration in February 2012. The money is now frozen and and the subject of litigation with the old club's liquidators and could go to pay creditors rather than pensions.The pension fund trustees claim they acted on legal and independent advice that the proposed loan was appropriate. But who gave that advice, who the new investment managers were and who are the trustees all remain unclear.In June 2012 Cooke, Townsend and a third director resigned, to be replaced by a photographer-turned-property man Douglas Ware and barrister David Simpson. Ware declared that he believed the Rangers loan had represented 'an attractive opportunity' for the pension fund and was in the 'best interests' of both the fund and Worthington., and that he was confident the claim to recover the money would succeed.Such confidence is perhaps not surprising - Ware and Adian Earley go way back. They were both directors of Anglo European Holdings in 1993 and Ware was a director of FII, in which Earley and Whyte held shares, for three years before it collapsed in 2004.Whyte and Liberty Capital sold down, if not out, of Worthington last year, but Ware and Worthington are still there to help. Worthington invested £250,000 in a brand-new Whyte venture, Law Financial, which is funding (with the help of a conditional fee agreement) the threatened legal action against Green and Ahmad. Law Financial was formed only on 12 March. Whyte is its only director. Meanwhile, barrister Simpson resigned this year, to be replaced by Richard Spurway, another former FII director.Events at Rangers are serious. But the fate of almost half the Jerome pension fund should perhaps trigger their own investigation by City regulators into what has happened at Worthington, whose shares are, at just under 5p, a third of what they were last year." Shadier, and Shadier! 0 Quote Link to comment Share on other sites More sharing options...
Macshimmy Posted January 13, 2015 Share Posted January 13, 2015 Here's the Financial Times doing some digging - all sounds very much like 'wealth off the radar' action:http://ftalphaville.ft.com/2015/01/13/2085432/a-worthington-tale/Could be the markets will spike it, it's the kind of thing which gives them a bad name 0 Quote Link to comment Share on other sites More sharing options...
Podlie Posted January 13, 2015 Share Posted January 13, 2015 It's been turned over before, but its difficult to assess the significance. The company at the heart of the 'ownership' saga, Worthington appeared dead until the end of last year, and the claims looked spurious. They quietly 'phoenixed' in December, and in the last few days posted this to the Stock Exchange: What does that mean? F*cked if I know 11th Dec 2014 Green went again for a First Notification Of Strike-off Action with regards to Sevco5088. 0 Quote Link to comment Share on other sites More sharing options...
Podlie Posted January 13, 2015 Share Posted January 13, 2015 There will be enough in the pot for the secured and unsecured creditors in any future sale via CVA (or even liquidation) for Ashley and Green .. they have everything sewn up. There will be no huge HMRC tax bill or anything like last time ... This is all about milking the cash cow that is Sevco and control of the proceedings. The only fly in the ointment is still Whyte and Sevco 5088 ... Any news on the Gummy Bear's rescue package yet? A Lender holding floating charge security over assets could put them into Administrative Receivership, or it could go down an AMA route or CVL or Pre-Pack. To say that being the unsecured creditor is king of the hill in the event of any of these insolvency acts is still mince. 0 Quote Link to comment Share on other sites More sharing options...
Fife Saint Posted January 13, 2015 Share Posted January 13, 2015 Ok, I'm going to shut up for a while and leave all you savvy, internetty, legal eagle blogger type people to get on with it Bear in mind, Fife Saint, I might interject with the odd FTFY post. But that's just me No bother, Phil. Mind the tinfoil hat. 0 Quote Link to comment Share on other sites More sharing options...
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