This afternoon’s statement from Octopus Investments was very professionally written piece. It was designed to give investors a sense that the business has taken appropriate steps to secure money spent with Rangers.
For a start, we now know their company, Ticketus, “purchased tickets for Glasgow Rangers games for a number of seasons”. This clarifies one matter, money received by Craig Whyte’s solicitors back in May last year was a straightforward purchase, not a loan, so VAT was applicable, and should have been declared and paid. We can assume this VAT was not paid, whether it was declared or not will determine future consequences.
Octopus explain their investments are “designed with capital preservation in mind”, with “appropriate security being available” and “extensive due diligence”.
A reasonable interpretation of this is that the company have sufficient security to ensure that they have rights to sell Rangers tickets for parts or all of the stadium in years to come, although, the company stop short of making a firm statement on what is, after all, a private commercial matter. They add that “no trading activity is risk free”, no one can assume there will be a Rangers in the future, and while their statement mentions Glasgow Rangers, it does not specifically mention a legal entity.
A floating charge exists over the stadium in Craig Whyte’s favour. This would see the stadium revert to Whyte in the event of the club being liquidated. Octopus may, or may not, have a claim on this floating charge.
Armed with this information, the administrators and Strathclyde Police will be keen to learn why none of the money for Rangers tickets went into the club. Perhaps more importantly for any potential phoenix, questions remain over exactly who owns what claims on the stadium.
There could be a lot of sentimental photos being taken at Ibrox tomorrow.
All levity aside, this club is enduring a seemingly unending trauma.
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Tommy on Snyde : hat doffed sir. Even had Keevins kinda agreeing with you.
I was amazed Keevins told politicians to butt out and he accused Cameron and Salmond of being on the make and buffoons.
Good he said it.
sparkleghirl
http://www.radiofeeds.co.uk/query.asp?feedme=102.5+Clyde+1
You will get snyde here
Absolute plum on Snyde right no claiming to speak on our behalf!!!
Hail hail
Thanks Exiled Tim
Hope the bbc have the decency not to send Rob Maclean and wee delicate Pat Nevin to ibrox tomorrow but I do hope he is the studio guest on Sunday..
I think it will be a real bigot fest and know that Mr Nevin – I will call it out whenever I hear it – will need to discuss
One other major gripe i have with the hun is their loudness – the rage-like noise that they make – the aggressive yelling and shouting – sounds like Grrrrrrrrrrrrrrrrrrrrrrrrrr.
At least the zombie is quite when it goes about it destructive business.
sparkleghirl says:
17 February, 2012 at 18:22
Not in UK and can’t get Clyde. Tried Real Radio a couple of times this week but while it’s good for greetin’ huns it’s useless for real info.
BBC Scotland or R5?
Neither if info is your bag. You’ll get more on here and from the collective Celtic Internet hive mind than on any of these outlets. However, all ye olde radiogramme
Has Keevins taken a truth drug .. ? Agreed with every point Tommy ? Made.. Or perhaps…… Mr Keevins knows that the real drama has yet to unfold and he s keeping on the righteous side..
I’m intrigued..
…should be available on iTunes.
I was just keeping you waiting there, not accidentally hitting ‘submit comment’ or anything idiotically clumsy like that. Ahem.
Go Terry!!!!
Hail hail
Get in Terry
Terry on Clyde
There could be real trouble at Ibrox tomorrow. The patrons will not be happy chappies and it could all get very ugly. Imagine if a big decision goes against them – unlikely I know.
There are bound to be demonstrations and it could all get very nasty very easily.
Good on Hugh and, Jim Delahunt for letting Terry O’Neill on SSB!
Well done guys!
Hail! Hail!
Well said that man Terry!
Deary me.
I’m of the view that Billy Dudds can hardly string a sentence together when talking about football.
Why have him on to talk about finance.
Sally on Radio SCotland doing a lot of “marching”. Shocking Hun propaganda.
Billy Dodds warbling rubbish on Radio Scotland.
He started by saying he was certain that a CVA would be agreed and that creditors would have to accept pence in the pound and Rangers would move on. Then when questioned by the presenter he conceded that liquidation was very likely.
Billy, son, you`re more than a few pence short of a pound.
Is that oor Terry on?
Terry : I may love you.
Nuclear Bovril and a Half Munched Pie says:
17 February, 2012 at 18:27
You’ll get more on here and from the collective Celtic Internet hive mind than on any of these outlets. However, all ye olde radiogramme
:) Great info here. it’s the weekend and I find it hard to imagine I won’t be here for most of the 48 hours I have before work again.
Go for it Terry
They can’t answer that honestly.
well done Terry Bhoy,,
The Fat Winker ( © bankiebhoy1 ) wants answers?
Well done Jim Dellahunt
Banging call
Now they are quoting the rules.
Fabtastic
Fair play to Delahunt for letting Terry get his whole point across!!!
Well done Terry
Hail hail
Orc administrator releases a statement welcoming the SFA inquiry.
Whyte stresses that he “personally” didn`t take any money from the club. (But no mention if any of his companies did).
I smell a tax evading, newco-reinstating carve up.
Over the last couple of weeks there’s been a definite change (for the better) in Jim Delahunt’s approach to these calls.
Will terry get his chance of reply here…..
Jobo
Well spoken Terry. Said it exactly as is……
Nobody else matters except Rangers and he is absolutely spot on.
Interesting that the rulebook came up, re we seeing the start of a change of opinion on their right to walk back in?
Keevins certainly rowing back a wee bit.
Hmmmmm
Unbeliavable conclusion to yer man Terrys call there! WTF???????????????????????
…no he didn’t but, for once, probably no need.
Time to laugh at the debt expert adverts…
Jobo
Gordon_J backing Neil Lennon says:
17 February, 2012 at 18:30
There could be real trouble at Ibrox tomorrow. The patrons will not be happy chappies and it could all get very ugly. Imagine if a big decision goes against them – unlikely I know.
There are bound to be demonstrations and it could all get very nasty very easily.
Totally agree with you there. It will be back to them good (bad) old day’s at Ibrox. Glasgow city centre will be a no go zone tomorrow. The orcs will be out in force. You can bet also that the Celtic end of Easter Road will heavily “miked” up just in case someone farts, if you get my drift.
Hail hail
Snyde:
It sounds like some of the media charlatans may be reflecting on their past behaviour or are they just patronising us?
HH
Could it be that they all know the game is up?
There it was in black and white – no special dispensation and the SPL board can sing for 5 people deciding the future of the game in Scotland.
This has to go to all supporters at all clubs.
Me thinks Keevins knows he can’t champion the hun newco any more.
Rules are rules
James Forrest Says:
James i enjoy reading your posts matey and I’m just glad guys like you are on our side.
Again another excellent post.
Could somebody give a quick summary of Terry’s call for all of us with no access to SSB? Thanks