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.
[calameo code=0003901718cdc4362fa2e? lang=en page=4 hidelinks=1 width=100% height=500]
1,047 Comments- Pages:
- «
- 1
- ...
- 17
- 18
- 19
- 20
- 21
- 22
- 23
- ...
- 28
- »
The average age of the ole Sevco tonight……..29.
Oh dear, Vincent Lunny.!
How are ye gonny get out of taking action on Boyd and Moshni?
I’m sure you’ll find a way.
praecepta
21:45 on
29 September, 2014
To be perfectly honest…………………
…………… I enjoyed that!
me too :-)))))))))))))
HH
glendalystonsils
He did he left the job some weeks ago…
An Tearmann, thanks for the link to the site.
Unfortunately, when I opened it, I couldn’t access it.
Thanks again for posting it.
Hopefully, tonight’s result for the tribute act will bring some much reuired joy and unity to the site.
Tom, Sally doesn’t look well and this might show me as petty but he didn’t show any care for those on the committe who decided on the transfer embargo. He knew what he was doing.
just in from work,
anyone got a link to sally’s post match interview.?
Bourne
That’s a goal lost for every 106.333333 years lol
saint stivs
21:48 on 29 September, 2014
Vmhan.
………
Not mine but it’s a classic right enuff :>)
The Goat is now being prepped
for hindquarters
blunt force trauma……………..
Smith pushed to blame Sally, an open goal,but no it was the players fault. Get baws shortbread.
Winning Captains
My index finger is just out of plaster after last Monday night…
no grapes , no flowers,
just the warm glow of being No 1
Did anybody else see the sure penalty when McCulloughelbows scooped the ball with his hand out of the penalty box for a corner ?
Armageddon seems to have confined itself exclusively to the Govan area.
Stoke win 1-0
parish priest will be happy
Get it roon ye Pardew
sacked in morning
Geordie Huns lose again and remain bottom of Greatestleagueintheworld
Rangers media/bearsden forum is great fun right now
They are very upset,bless em
The hypocrisy from the panelists n BT is just staggering, it’s shocking. Anyone remember how they reacted to the Kevin Wilson incident a couple of seasons ago?
saltires
Planning for the future.
dena29
21:42 on 29 September, 2014
“all joking aside if they did sack Ally who in their right mind would want to manage that mob ??”
Derek Adams. He started the sales pitch this morning. Perfect fit.
Just spotted your “right mind”.
Pardew does walking away……..:-)))))
The excuses are coming thick and fast for Moshni and Boyd. BT know where their money’s coming from. Build up and defend the undead even where it is impossible. Let’s hope an investigation is made into their behaviour and that stonewaller to end all stonewallers.
mungolian bhoy
21:53
Yes
https://vine.co/v/OZlmK3ImMDM
cultsbhoy
21:43 on 29 September, 2014
Referee gives Ally a very pally pat on thev@r5e by way of empathetic consolation as he ran up the tunnel
—–
Didn’t see the ‘game’ so can’t comment but will!
To be fair given the sheer size of the aforementioned erse it would be difficult not to make some kind of contact with as one squeezed through the tunnel?
Reckon Sally’s banned fizzy juice and naughty foods of Murray Park – bet there’s none of that new Coke to be seen.
And how confused must they be when walkers evil Fenian crips are salt n vinegar while golden wonders evil Fenian crisps are cheese n onion.
Must fry their wee heids!
Cognitive dissonance in a poke o’ crisps!
HH jamesgang
Vincent lunny gone.new guy MCGLENNAN.think his da was in my class at the mungo.
On RS tonight McCoist was getting it tight about his crapness …..the word must be out ….media employed to discredit him ….their previous best pal …
I hope he rides this storm out …
Hibs keeper has scored more league goals than Boyd this season
What a night to be Mike Ashley
Beat at hame with Stoke and your second team pumped with Hibs
Where’s Neil McCann when you need him?
Cheers Jobo
Ole Misser …..grade A whattaboutery …
Pratt
And stoke complete the double ;-)
Only ten shillings staked but a (rare) win is a (rare) win.
Enjoy your evening friends. And, please, be nice!
Stiff upper lip Kenny lad…
:-))
The fact that TV, Radio and papers is so full of huns is all part of the propaganda machine.
Scottish fitba’………………….twinned wi’ North Korea.
BSR
Wrong channel
I quite like the presenter on BT, he fair rubbed it in there.
mungolian bhoy
21:53 on 29 September, 2014
Did anybody else see the sure penalty when McCulloughelbows scooped the ball with his hand out of the penalty box for a corner ?
…………………………
Eh?? You could have seen it fae feckin’ Khazakstan :-))
Ally must stay; Ally must stay; oh, please Ghod, Ally must stay.
Hello this is WEE BGFC. Hibs can’t be that good if they can anly beat that mob 3-1