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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Geordie Munro
13:50 on
29 September, 2014
Plg was never going to be cut slack at rangers by some/ most fans due to one simple fact.
And it ain’t anything to do with football.
=====================================
What have they got against French people?
Keith Jackson and journalism in the same sentence, Ruth is stranger than Richard..
Geordie Munro
13:46 on
29 September, 2014
Turkeybhoy,
I think to say we are being ‘bamboozled week after week’ is pushing the point much too far.
Maybe a bit too much,but you know what I mean.Puzzling,maybe.I stand chastised.
You will learn more watching grass grow than reading words written by Jingle Jackson.
I feel, that the lacklustre performances are down to the players being pushed harder than ever before, nothing is ever gained short term.
Ronny D, for me, is utilising this Time also to see who is a Keeper, obviously Craig and Scott are.
The more Leaders in our team, the better.
Ronny D, will do for me.
The celtic way,
Je ne sais pas? :)
Turkeybhoy
13:58 on 29 September, 2014
In Scotland we spell it ‘Labour’.
burghbhoy
13:21 on 29 September, 2014
does the fact that I laughed my head off when I heard make me a ‘bad person’ …….. don’t think so……. that lot had ‘dad’ down to a fine art, and they tried to walk all over Scottisn Football…… Ogilvie, calm yur bell…… hahahahahahahaha … you reap what you sew
the celtic way
13:59 on 29 September, 2014
Geordie Munro
13:50 on
29 September, 2014
Plg was never going to be cut slack at rangers by some/ most fans due to one simple fact.
And it ain’t anything to do with football.
=====================================
What have they got against French people?
——-
Not enough Huguenots live there!
;-)
HH jamesgang
‘dad’ = baaaaaaad ….:)
Turkeybhoy
“Be prepared for a high turnout as this time many people will not forget their betrayal”
I have asked this before on here and never received a response. For whom will this groundswell of outraged people vote? Assuming that none of the 3 major parties will be chosen, nor UKIP, or even the SNP?
Serious question BTW
“I always find it fine for Celtic fans to critique the club, but object as soon as the dark side join in.”
Agreed.
I think many fans are the same. Just like family :)
‘gg
13:56 on 29 September, 2014
your spelling is atrocious…..it’s Billionerse…
Turkeybhoy,
I think most games now we see a settled side.
The two games where he made the biggest changes recently I could see what was trying to be achieved.
It didn’t work out as was hoped but I made no comment before the game so I ain’t gonna say much after.
Geordie Munro
14:08 on 29 September, 2014
“I always find it fine for Celtic fans to critique the club, but object as soon as the dark side join in.”
Agreed.
I think many fans are the same. Just like family :)
______________________________________________________
I agree, wholeheartedly, not got much Time for Politics.
We are a proper dysfunctional family, still a family mind you.
Here fishy fishy fishy.
The Celtic Way jsut made my day.
Now to remove that hook
A big gulp of vinigar and puuuullllll.
No need to thank me. Just keep picking up the soap for your masters.
MWD said AYE
I’m likin’ ‘critique”
It sounds like we’re gazin’ through a Gauloise fug at some film noir classic, all Alain Delon havin’ his bruises salved by Jeanne Moreau, instead of gazin’ at Anto Stokes tryin’ to get his head round the geometry of the offside law.
Fancy a Cookie?
Ray Singh.
Very valid question.
I at this moment in time don’t think I will vote at all.
Labour’s mistake,in my opinion,was to team up with the Tories and then categorise all yes voters as nats. When clearly a lot of them were Labour voters.
Labour are now reaping what they so as the Tories are now stitching them up ‘re the agreement.
http://www.scotsman.com/scottish-independence/beware-scottish-labour-is-a-zombie-party-and-the-undead-still-walk/
Is this a political Party for Zombies !
67 heaven
Yes sir.
All these chancers who ran roughshod over Scottish football are slowly but surely getting their cummupence.
Masterton
Murray
Whyte
Farry
Yorkston
The cast of shame is long.
Hopefully not before too long it will have the names Ogilvie and Longmuir added to it.
Indeed , he who wins plays the long game!
For all those who blame this blog and Celtic supporters are encouraging Keech to write this shoite, I would just like to shout with 100% accuracy
I AM RONNY D
Jimmynotpaul
I can fully understand the total disillusionment with the mainstream parties. That is not something that is unique to Scotland mind you. The problem is, within the political system we have, that frustrated voters can only alter things if they are offered a credible alternative to rally around.
Unfortunately for almost everyone, there does not seem to be any tangible group with the numbers or standing for the electorate to shift towards. And much and all as it would be nice to see such a Party emerge from the background, there seems scant little evidence of it yet.
I just foresee a huge drop in turnout as voters turn their back on the whole process. And if that happens it will probably suit the major parties more than anyone.
ray singh-carr – there’s a theory that The Simpsons is the Shakespeare of our age.
All human life is there, from the feeble old dear, to the screaming child.
The most instructive lesson from Springfield on the perils of democracy came when Homer ran for office as the sanitation commissioner, and got elected after making lots of “crazy promises”.
He soon bankrupts the town and they ultimately have to up sticks and move.
Unfortunately democracy has a tendency to devolve into a contest of crazy promises from competing factions. We have strict limits on what peddlers of soap powder and toothpaste can say in their advertising campaigns, but politicians are free to promise health, happiness and good fortune in exchange for our votes.
We, the voting public, are to blame for this. Politicians wouldn’t try to cozen us if it didn’t, generally speaking, work.
We need to revise our expectations of what politics can realistically achieve. The Yes campaign fought a strong campaign based on imagining how much fairer and socially just (and yet also richer) Scotland could be if it wasn’t part of the UK.
But no politician anywhere has delivered “fairness”. Laws and institutions can’t be “fair”, much less “compassionate” – only individuals can achieve this.
And justice isn’t social. We have a political class incapable of running basic services without massive waste and widespread incompetence – and we expect them to make society “just”? That’s like handing your toddler a power drill and hoping for the best.
Politics can’t make us richer either. It can only redistribute the wealth other people create. The wealth still needs to be created in the first place.
Unfortunately I didn’t detect any recognition of these realities in the Yes campaign. It was a slick marketing campaign that couldn’t possibly deliver on all of its crazy promises.
And that’s not entirely their fault – they couldn’t otherwise hold together a coalition of luvvies, businessmen, unreconstructed Communists, oil enthusiasts, and radical environmentalists. (thumbsup)
Burghbhoy
14:21 on 29 September, 2014
67 heaven
Yes sir.
All these chancers who ran roughshod over Scottish football are slowly but surely getting their cummupence.
Masterton
Murray
Whyte
Farry
Yorkston
The cast of shame is long.
Hopefully not before too long it will have the names Ogilvie and Longmuir added to it.
Indeed , he who wins plays the long game!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Murray is wriggling like nothing on earth.
Earthworm Jimmy will get his comeuppance, howevaah, IMO.
One neil baldwin
There’s only one neil baldwin.
Awfy braw it was.
Luigi, yer a star.
‘GG
14:23 on 29 September, 2014
For all those who blame this blog and Celtic supporters are encouraging Keech to write this shoite, I would just like to shout with 100% accuracy
I AM RONNY D
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
You know me, I’m also Ronny D.
67 HEAVEN
Anyone who can spell atrocious is fine by me.
Works better if the word is atrociously,btw. But heyho.
How much atrociousness can the blog handle?
When Delaney’s D, says to me, that all the younger players at Celtic are excited by Ronny, I’m over the moon.
Come on you Bhoys in Green.
sean thornton
14:30 on 29 September, 2014
You get the feeling he wouldn’t cut it at Lennoxtown.
http://www.youtube.com/watch?v=O2h6qyEIVGw
http://www.thecourier.co.uk/news/local/fife/former-dunfermline-athletic-chairman-gavin-masterton-faces-financial-ruin-1.598342#poll
The above link is to the story on Gavin Masterton.
If you are bored or maybe bold enough to click on it, ask yourself two questions:
Is he the love child of former North Korean dictator Kim Jong-Il?
Would you ever get tired slapping his face?
bobby murdoch’s curled-up winklepickers
14:35 on 29 September, 2014
67 HEAVEN
I was alluding to Billioaire = BillionERSE, In oor Keech’s case …. hahahahahahahahahaha
C’est comme regarder il le retour de la viande hachée de Tremblin
Re the Jackson article.
I support RD while vilifying those who appointed him.
He should never have been appointed as there should not have been a vacancy.
Meantime he has my support. But he inherited players who performed better under a different structure than the one he has introduced.
I think he needs to go back to square one. Instead of trying to improve those players he has to find out what made them successful in the first place.
Then stage two.
At the moment he is making good Celtic players perform badly.
He is also making good Celtic fans perform badly.
petec
14:28 on 29 September, 2014
absolutely, and some Celtic fans want them resurrected……the mind boggles, it really does
BBC Scotland reporting
14:18: Celtic racial abuse claim
Police are investigating an allegation by Celtic defender Virgil van Dijk that he was racially abused by a fan during the win over St Mirren on Saturday.
Police Scotland said, “Police are liaising with both clubs and are analysing broadcast and CCTV footage.
Enquiries are ongoing.”
bobby murdoch’s curled-up winklepickers
14:35 on 29 September, 2014
ur yew sayin a cannae spelt….now that IS atrocious…..hahahahahahaha