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
- ...
- 18
- 19
- 20
- 21
- 22
- 23
- 24
- 25
- 26
- 27
- 28
- »
martim1980
21:58 on 29 September, 2014
I quite like the presenter on BT, he fair rubbed it in there.
……………….
Agreed. I like that wee guy. He looks like a wee free but when Celtic won the league at Kilmarnock a couple of years ago he was in his element.
Don’t worry bhoys they can’t afford to sack him
hh
Hello this is WEE BGFC. Anly=only
Original Sadiesbhoy
DushanbeBB saw it from Dushanbe hehehe
Great they are talking about taking it on the chin now on shortie
west wales celt
21:58 on 29 September, 2014
Stiff upper lip Kenny lad…
:-))
—-
Don’t mix Viagra and lip salve.
HH jamesgang
Chick Young sounds suicidal. “Bilhel Mohsni is not good enough for Rangers, waaah, why did Aird and Templeton not start, why did Mohsni have a go at the fans….it`ll be some post mortem”
Indeed.
Mungolian Bhoy
…..or Ulan Bator :-))
no chance, McCoist going nowhere
They cant afford £1.5m to pay him off and as he says
WE DONT DO WALKING AWAY ha ha
Saltire
I’m allys case it’ll be chins
Radio Shortbread auffy upset .
Moshni the new scapegoat from a team
full of goat’s .
Shortie………..
Flabbergasted……………………………………………………….
The cupernol kid ready to burst oot greetin. Great result for big Stubbsy, always liked him as a player. Didn’t know Ian black’s shorts were bigger than him. Must be ma telly.
A few years ago , I would have rejoiced at Rangers’ latest humiliation. Post liquidation, who cares? Guess I’m missing out on something.
Wee BGFC
Better patter than yir ole Mhan.
JamesGang, he can rub it in his forehead:-)
Kenny Miller talking about the Boyd header,
It was a coming together of men’
Oh Er missus…..
Chick talking about giving The Binman an easy ride……..
:))))
*nothing to add*
Chick is wrong. Moshni is very much The Rangers class.
No interest in any games played tonight,
But
How did young Stanton play ?
Tom McG, I do realise that about seats for Europa League, and those in home cup scheme get theirs, unfortunately home cup scheme members in upper tier and being relocated got my 2 seats, with 22000 seats sold, there will be about 18000 empty lower teir tickets, so the ticket offices decision is let’s piss off fans who do come to home games, and buy all tickets outwith SFA sponsored competitions
Hail Hail
Chicco
‘Ally Mcoist the Glue that kept them together’
:-)
SFA Compliance Officer inaction
http://www.youtube.com/watch?v=34ag4nkSh7Q
Che
:-)
John Rankin on Radio Scotland just now sounds like the biggest hurting hun this side of Harthill, foaming at the mouth with rage so he is. “Mohsni`s no good enough, Chick”…. voice trails off to a pitch discernible only to dogs.
Ah but he`s from Airdrie, well that speaks volumes.
.
As reunion draws closer, is there even such a thing as the Old Firm any more?
Michael Grant
Chief football writer
.
Monday 29 September 2014
does this guy talk pash or whit.does he get paid.
Chic challenged about giving Ally an easy ride
He says he got it wrong tonight and withing two seconds he is defending Ally because of his performance over the last two years , winning the leagues that he had to win.
“Ally is the glue that holds the club together”
He may be off to the glue factory.
Caught the last ten minutes from the game at the Ashleydome hoping beyond hope that the other boys in green would be aquitting themselves well and what a pleasant surprise I got. The streamed version I watched advertised the game as “Rangers FC – Victoria Highlanders versus Hibernian”. Is this yet another version of the Govan club?
We don’t do paying off
Difficult to appreciate that the Hun squad is ( by some distance ) the second most expensive one in Scotland
Mental
omg it was ibroxbestos aswell , oh dear
micktt
21:47 on 29 September, 2014
I can’t stand McCoyist, but I like the score. Well done big Stubbs, does that count as a physiological victory for Stubbs with his comment’s regarding the ref, Sally bit…
HH
_______
It definitely tempered the referee’s decisions on the game by not awarding dubious penalties and sending offs…then again at least a couple of the hun team should have walked.HH
Jobo Baldie
19:17 on 29 September, 2014
tks just wish I had more than 7.34 in my PP account
29th of Sept 2014 6:56 pm Total Stake £7.34
Bet type Double (To Win) Tax@Tax free 0
Number of lines 1 Total stake due £7.34
Stake per line £7.34 Channel Internet Total amount paid £7.34
Number of win lines 1
Number of void lines 0 Returns £126.25
Fanadpatriot,
Don’t know if you are on tonight, but you mentioned Shiels bar in Kerrykeel yesterday. That used to be owned by my uncle Hugh Shiels many years ago, and me and my family used to spend every summer over there and even work in the bar back in the 70s, 80s, and early 90s.
Hail Hail.
Sean
Why don’t Pardew and McCoist not just swop places?
jackie mac
22:06 on
29 September, 2014
We don’t do paying off
more like
“we cant do paying off” :-)))))
HH
Sorry for the re-print from the Record, but this is comedy gold:
COCKY Rangers stopper Bilel Mohsni has ruled Hibs out of the Championship title race – just six games in.
The Tunisian had expected the Easter Road side to make it a three-way war with themselves and Hearts. But after dropping 12 points from a possible 18, Mohsni reckons the best Hibs can hope for now is to squeak a play-off spot.
The two go head-to-head tomorrow night at Ibrox for the first time since Gers’ extra-time Petrofac Cup win at the start of August.
He said: “No, I don’t think they are title contenders.
“We’re just at the start of the league but it is going to be between us and Hearts who will fight for first place.
“Maybe Queen of the South, Raith Rovers and, of course, Hibs can still do the play-offs. They have a lot to do.
I wonder if the compliance officer will be reviewing tonight’s match? – no probably not?
“scoddish foo’ball needs a strong heider to go unpunished”.
The Consultant RD is right to consider the players diet Sugar coke carbs all have to go. And the results are clear to see on the pitch
Everything I hear about The Consultant makes me wonder !!!
Patience is a virtue – top of the league before the end of November – it’s a simple measurement – more or less six months Ronny !!
67ECW