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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RM is having problems loading, it’s taking a while.
I did see one thread that amused me.
The Cowdenbeath game postponed:-)
patmcgrathtakesapenalty
22:24 on 29 September, 2014
Have a heart! Imagine the gloom in that changing room; think of the anguish; the near despair; the sorrowful recollections of aimless passes, missed tackles, poorly executed headbutts, lack of team spirit; think of the arguments, recriminations, the scapegoating; think of the sense of uselessness that those athletes will be experiencing…
Great, isn’t it?
################################
As someone pointed out… average age of 29 that is going to be a big factor this season for the young club old players.
HH
After the result from bigotville it might put a few thousand on the gate on Thursday as the hoops have a bit of a spring in our step with the thought of slagging the paupers in work ramorra
doc
22:22 on 29 September, 2014
MickTT , I wouldn’t, they’ll buy another history overnight and it’ll ll be rosy in the morning.
#############################
Ok that’s an overwhelming No..
HH
Ally “Moshni is a great laff in the dressing room”
MickTT, I’m not expecting a cracked crest, put it that way.
Sevco struggle in games against players who don’t have to get up for their work in the morning.
*Match report from DR. Mentions the handball incident but not the right hook. Openly questions whether McCoist is the man for the job. Knives are out.*
RANGERS failed their second serious examination of the promotion race as Jason Cummings’ double inspired Hibernian to a 3-1 win at Ibrox.
The Ibrox side have already been beaten at home by Hearts but lost further ground on the Scottish Championship leaders as they surrendered three first-half goals to Alan Stubbs’ side.
Cummings put Hibs ahead after 26 minutes, making the most of Arnold Peralta’s failure to deal with a meat-and-drink long ball.
Hibs full-back David Gray then climbed above Stevie Smith to head home the second on 31 minutes before Cummings finished off a clever counter attack to put the Leith side three up just before the break.
Rangers would need to show their fighting spirit if they were to get back into the match but the only aggression came from defender Bilel Mohsni as he seemed to get into a heated argument with a group of his own fans as he made his way up the tunnel at half-time.
Nicky Law did pull one back for the hosts with a well-placed volley 10 minutes into the second-half but the home side just never looked capable of pulling off a remarkable escape.
Ally McCoist has overseen a list of underwhelming performances during his four-year reign and many will now ask if he is the man to take the club back to the top flight given his side now trail Hearts by six points after just seven games.
Hibs, however, will hope the win will reignite their promotion push as they rise five places to fifth.
The teams walked out to a lively atmosphere which at first looked as if it would be the soundtrack to a competitive encounter.
VIEW GALLERY
Rangers should have taken an eighth minute lead when Smith found Kris Boyd in the box. The striker, though, was denied by a solid Liam Fontaine block.
But the cheers which had greeted McCoist’s men before kick-off were soon a distant memory as angry boos filled the Ibrox air.
First Peralta – starting just his third game of the season – allowed a routine punt from Oxley to bounce over his head. Before he could regroup, Cummings had left him on the seat of his pants as the Hibs striker darted through on Steve Simonsen.
The keeper managed to get a hand to his shot but it still trickled over the line before Peralta could make his futile last-ditch attempt to clear.
The boos turned into outright outrage five minutes later as Smith failed miserably to cope with a Lewis Stevenson cross to the back-post as he allowed Gray to power home the second with his head.
And there was mutiny in the air as Hibs made it three six minutes before half-time. Ian Black – as is his habit – surrendered possession in the heart of the pitch.
Hibs knocked it up to the impressive Dominique Malonga and the Frenchman eased past Gers skipper Lee McCulloch before sliding the ball wide to Stevenson who feinted to shoot after cutting inside. Instead he laid it off to Cummings who rolled home another with a tidy finish.
It was shambolic defending and the Light Blues faithful were not shy in telling their players what they thought.
Peralta paid for his part in the opener when he was hooked at the break as the manager sent on Fraser Aird.
Things could have got worse for Rangers right at the start of the second half had referee Calum Murray spotted McCulloch’s obvious hand ball in the box.
But Law gave his side hope when he volleyed past Oxley after the Edinburgh men failed to clear from a corner.
Black had a free-kick saved while Boyd saw his first league goal of the season chalked off by an off-side flag.
McCoist threw on David Templeton and Jon Daly to boost his attack but Rangers’ problems lie much deeper that personnel changes. They will have to be addressed soon if they want to keep up with the pace-setting Jambos.
rm is going mental ……. they want Sally’s head on a stake …….. don’t they realise he is only interested in the money he’s getting for being the worst manager in Scottish Football history … I’m just worried they might get rid of him …….. but, you have to hand it to to him….HE DOES HAVE A BRASS NECK …. as well as a TIN HEAD….in fact, he looks like the TIN MAN In THE WIZARD OF OZ …… HAHAHAHAHAHAHAHAHAHAHAHAHA
bournesouprecipe
22:32 on
29 September, 2014
Sevco struggle in games against players who don’t have to get up for their work in the morning.
Where we just struggle in every game
mild mannered pedro delgado
22:25 on 29 September, 2014
Che
Gladiola??
………………………..
Brilliant! Ally Gladiola it is.
Hibs are a poor side …Huns got the skants taken off them at home by them
Maximum MIB assistance …and they were still humped
News reader on bbc Scotland seems bit subdued,
Something happen tonight that could’ve caused it?
I take it none of the esteemed written or tv press asked Sally about the (alleged) assaults by his players tonight?
bsr
Thats notty!!! ))))))
Doc
The longer the charade goes on the better
The Herlad will be rolling out THAT Dave King
guid news piece the morra to subdue the revolting………….
Aye!
Have to say there is no way the Elbows incident was a penalty.
I watched a sure penalty last season, when Ambrose having slipped was lying with his full weight on an unmoving arm. You’ll recall the ball trundled onto his arm. A sure penalty and potential red card.
Contrast with tonight. The Rangers player used his arm to usher the ball behind for a corner. Ok he did scoop the ball out.
But strange things happen in football. remember what happened to Celtic too against St Johnstone? Everyone will remember Duberry’s timely interventions. So things do even out. referees do make mistakes. it’s what makes the game great and a real feature of the game.
I’m pretty sure Referee, Murray was well up with play, to judge things.
He had a good game and won’t be too perturbed about getting more games like this one.
ohits, meeting skyisalandfill and heading to the pot still after the game for drams. Oldtim and AnT may also be playing.
I know it’s a near impossibility for the pie man to be sacked so he should do the right thing and resign for being crap at his job.
The only headline better than mccoist sacked would be the ones written if he did walk away, even greater on the humiliation front for him, the club and their vile support.
Hunmedia has melted like a chocolate fireguard.
Huns in turmoil, what a shame.
Stubbsy, whit a guy.
.
I Try Not to Hate anyone or Anything..
But you can have a Serious Dislike for Someone or Something..
Seeing Ally squirm and getting his Comeuppance would only be Bettered (Together) with One thing in My Book..
And that would be if Barry Ferguson was still playing and Captain..
l know this is Not Facebook but l expect to get a Few ‘Likes’ for this Post..Ha
Summa
From match report comments on DR >
So who’s to blame this time Sally? Did the parliamentary vote on the war on ISIS affect the players? Or was it the unrest in Hong Kong that caused the dressing room upset?
Fancied a wee hoot but Folly Folly was taking a while to load … I did notice newest member was
Sallysas
Soooo, which one of you lot?
A pic of the Zombies making their way home after the gubbing, funeeeee
https://twitter.com/junglebhoys88/status/516694481618604032
….PFAyr, absolutely.
The best, and one of the longest running comedy shows, I’m enjoying it immensely still.
The fact Ally is untouchable just garauntees it will rumble on on the pitch as well as in the board room and court.
Love it.
Watching the game tonight, purely from a footballing point of view, it was absolute pish.
From a gloating point of view it was feckin magic.
HH
Like!
HH jamesgang
Global warming
The Spirit of Arthur Lee
22:33 on
29 September, 2014
bournesouprecipe
22:32 on
29 September, 2014
Sevco struggle in games against players who don’t have to get up for their work in the morning.
Where we just struggle in every game
=====================
Your pain is mighty.
If they sack ally thats going to make a right BIG hole in that 3.5 mill theyve just raised
ACGR
Might drop in with my mate who is a mad drammer like yourself .
Jude
They’ve got bugger all of that left anyway
Sevco fans want his head on a stake
Ally wants his head in a steak
B-)
….pfayr supports weeoscar
22:37 on 29 September, 2014
naw, a jist want thum buried….hahahahahahahahahahahaha
the exiled tim
22:42 on 29 September, 2014
hahahahahahahahahahahahaha
Ohits, “mad drammer” is that code for jakey bassa:-)
Monday nights are fair enjoyable on ole CQN:-)
Nae banjo’s either, nice.
Night Timdom
HH jamesgang
“There is a thin line that separates laughter and pain, comedy and tragedy, humor and hurt.”
News reaches Enrico Annoni, I have corrected his use of deadco
enrico @enrico6 1 min13 seconds ago
excellent result of the Sevco lost 3-1 … from Hibs …
Have Francie & Josie been Scotland Yard from here?