Gavin Masterton, who as managing director of Bank of Scotland in the 1990s, was one of the financial lynchpins behind the issuance of credit to some of the leading investors in Scottish football, and was responsible for what was seen as reluctance to extend competitive terms to Celtic AFTER Fergus McCann’s takeover, today issued notice that one of his companies will be wound up, as it cannot meet commitments to repay loans by new Dunfermline Athletic owner, Christopher McBay.
Masterton came under pressure, which he eventually relented to, to write-off money he loaned to Athletic to allow it to avoid liquidation last year. He also claims these developments will lead to his personal bankruptcy.
In September last year, Ian Fraser, author of Shredded, an analysis of the debacle that was the Scottish banking industry, wrote in his blog;
“Charlotte Eighteen, a shadowy company based in the tax secrecy jurisdiction of the British Virgin Islands, remains the subject of intense interest among Scottish football fans. Allegedly the holding company for the business assets of Gavin Masterton, the former treasurer and managing director of the Bank of Scotland, it looks like it could be the crux to an extraordinary financial scandal at the heart of Scottish football.”
In March last year, Mail on Sunday wrote: “Bank of Scotland wrote off a £4 million loan to a company owned by Mr Masterton – then sanctioned the £12 million loan to another of his companies that allowed it to skip repayments for the next 35 years.”
In 2004, The Sunday Times, explained that while Masterton was at Bank of Scotland, an associate of his received a loan to buy Dunfermline Athletic, which included a guarantee that the loan would not need to be repaid until the borrower’s shares in the acquiring company were sold. Two years later, after Masterton left the bank, his company bought his associate’s shares and gained control of the club.
I bet the British Virgin Islands are nice this time of year.
Sean’s Trust, the charity setup by our late friend, St John Doyle to aid those dealing with stillbirth, are holding a Terry Christian stand-up comedy evening at the People’s Palace on 24 October. The show, Confessions of a Recovering Catholic, is a light-hearted look the legacy of his Manchester-Irish upbringing and has received excellent reviews. Billy NoWell is also on the bill, performing some of his unique material.
There’s a bar and buffet, tickets are only £16, email seanstrust@gmail.com for details.
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Timingiseverythingcsc
geordie
Fair comment, but I would rather have had him on from the start to try to get in front with Commons. Once the game is won, then rest players. IMO. How you doin’ kiddo, hope all is well. Nice to chat again. KTF :-))))
Weefra HH praying to Wee Oscar.
Mild mannered pedro delgado/badabing
Thanks for reply.re wolstenholm
A statement I never tire of hearing.:-)
HH
Stairrods in stoke
Prosecco, what’s not to like?
Campari orange, ice & slice.
Blantyre Tim
Take it easy and get well soon mhate
HH
tictaewin
20:02 on
29 September, 2014
Must admit I hate Ireland. North and South.
Have no family history ties or affiliation with the place at all.
……………………………………………………………………………………….
Has Ireland upset you in some way ?
HH
Gary McAllister getting the excuses in early for the Piemonster
Been watching the Hibs game. My goodness these two teams are dreadfull. We complain on here about Celtic but this is real garbage. No control, long balls, it’s laughable. Hibs just went one up following a long kick from the goalie, missed by the ‘no surrender, defender’ and popped into the net. Wouldn’t get excited though because you can expect more goals and some honest mistakes!
Weefra,
I think he was on bench with commons as a safety net. I don’t think ronny would like that he had to bring them on.
I’m great neebs (for a Monday) hope you and yours are well. I’m away to mak a pat o soup :)
If the scores stay the same I’ll be back on later for a cyber pint and smooch for Jobo;)
Oh ya dancer…
The Lights go out in Sevconia..
Ya beauty !!!!!!!!
Get in!
And it’s a second for Hibs ;-)
haha
tictaewin
20:02 on
29 September, 2014
Must admit I hate Ireland. North and South.
Have no family history ties or affiliation with the place at all.
You sure about that?
bournesouprecipe
20:13 on 29 September, 2014
John Barnes ‘lost the dressing room’ when the great Marko Viduka refused to play in the second half of the SuperCaleyGoBallistic SC exit.
Allegedly CSC
—————-
Was at that – final nail in the coffin. Have never forgiven Viduka since – big man was always a bit flaky, even before he came to us. Seem to remember signing him was a bit like the Scepovic charade. Did we not sign him, then he went AWOL for a month before we had the benefit of his services – went back to Oz for a holiday, or something?
Oh, and Hibs are starting to look like a reasonable 2nd level team now. Noticed brother Murray never bothered going back to take action against Black for his jatchet job on the halfway line in the build up to that goal.
HH
BGFC
Gearoid, thanks for the reply.
I saw some photos of Tommy’s funeral and Siobhan Fahey was really upset.
My pal wasn’t at the funeral but he told me what was said to him. It’s a pity it may be an urban myth.
It’s good there is still a lasting memory to Tommy.
The treatment of the soldier after his release was not unexpected. The British government used everything in its means to make out any awkward situation made them out in a good light.
In the 1980 New Musical Express awards, Paul Weller named Jim Reilly as his most wonderful human being. The Jam and Stiff Little Fingers were both on the bill of the 1980 Loch Lomond festival.
Hibs administering a football lesson to ye Sevco. 2-0 after 30 minutes.
Jatchet = hatchet. Oops
bournesouprecipe
20:09 on
29 September, 2014
Stephane Bonnes never lived the dream in the the Celtic first team, but he played 24 times and scored twice for the Maryhill Magyars.
@wiki
———————————————–
Remember playing the jags with Jorge Cadete in their team….all game kept thinking
‘whit a waste’ .
The huns are revolting……
Uppompeiicsc
0/2
“Did we not sign him, then he went AWOL for a month before we had the benefit of his services – went back to Oz for a holiday, or something?”
Big geordie,
Aye exactly like the Scepovic deal ;p
Che@20.08
Went to many matches with Kidso and stayed in his house in Ardmonagh gds before catching a variety of trains and boats, many Hun infested and prior to segregation on the boats. Interesting times. Just one of the many many reasons why I do not want their tribute act to darken our (or any other teams) door again.
Kidso wore his Celtic heart on his sleeve.
HH Che
Black in booking shocker….
Big Georges
Yip, so the story goes.
Viduka signed and was due to debut on a Sunday, they announced on Sportscene the night before that there was trouble, and he had went AWOL.
It was, of course all about money ( which he never got )
3-0 !!!!
Can’t bring myself to watch that shower…….are they behaving themselves or are they losing the plot as usual…
And a third!!!
Hahahahahahahahahahahaha
That’ll do donkey!
Oh Dear
3-0 hibs
Looks like a fun-filled night in store.
Sevco reverse winning to Hibs 0-3.
Right stubbsy.
That’s enough now.
Zombies not happy.
Hibees in cruise control.
Tictaewin@20.02
And may The Lord make us in Ireland( North and South) truly thankful.