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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lawwellsacountant
He has shown more than Scepovic!
LB
lawwellsacountant
Capitals too,that always works…………well done matey !!!
lawwellsacountant
16:38 on 29 September, 2014
PETEC YOUR A SAD NATIONALIST
~~~~~~~~~~~~~~~~~~~~~~~~~~~~
I’m sad alright, you better believe that.
Winning Captains, your post earlier from the upcoming book was about the 4 2 game at Ibrox in May 1983.
That day we had about a quarter of the Govan Stand, all the Broomloan, half the enclosure and the same with the main stand.
The walk on that day before the start of the second half was the most emotional & passionate of my forty five years of going to our games.
All the players just stood in awe of the support that day as were were giving our full and unconditional backing of the team. We were rewarded with four unanswered goals including the miraculous award of two penalties by Mr McGinley.
Arthur Montford’s commentary on Scotsport made the result even better.
Provan – Aitken – McAdam, goal 2 2 what a game.
Oh for a Scottish commentator as good as Arthur again. A football fan first and foremost and a genuine Morton fan unlike Waddell & Young being Falkirk & St Mirren fans respectively.
lawwellsacountant
Plural is referenda; plus the wonderful writing skills are just…..amazingly impressive ;-))
lawwellsaccountant chapeau doffed sir brilliant impression of a hun dodgy grammar spelling and those CAPITALS take a bow sir,then disappear
hebcelt do you mean the present lot
unfortunately that would include Gordon who cost us a goal on sat ,the only goal st mirren have scored at home
if fit
the hun goalie
izzy
vvd
denayer
lustig
brown
henderson
Forrest
commons
GUIDETI
GRIFFITHS
Manager anyone except delia
UNLIKE IN THE PAST DON,T HAVE A RESERVE TEAM TO WATCH,SO NO LITTLE ABOUT YOUNGSTERS,THOUGH atajic looked ok in his short appearance last season
dallas
what about ourm own bob crampsie
22000 tickets sold so far for Thursday’s game.
Surely we can do better than that?
Dallas Dallas where the heck is Dallas
Just for you
a video uploaded by pablophanque
https://www.youtube.com/watch?v=M-cHCuOHqGs
Lawwellsacountant….brilliant….makesme proud to be a Celtic man..
.fighting the Tartan Tories all your ADULT life…..so you aint been fighting them at all then……beyond pathetic…
.
A wee question for the Spanish Bhoys.
My mate and I are going over to Malaga early New Year, hoping to pick up a Malaga game. Apparently the tv pattern is one match on Friday and others on Saturday/Sunday. Any idea how far ahead they choose the Friday night game, as that’s the one we would need to avoid in Malaga?
Muchas gracias
In the context of the ole Euro-Ramsden’s 22k+ will be one of the highest attendances.
If we aren,t even opening the top deck it shows just how many dissolussioned fans are out there,if and it,s a big if I renew my season book ,I will be coming off the home cup ticket scheme,I,m fed up with being treated poorly, and having to move from my great seat in the top deck for cup matches and now european games,and the last straw is that non season book holders who buy a ticket for Sunday are getting another one free,and yet again those who pay up front get bugger all
The only good thing I can see about RD appointment is Celtic will be there after this dud leaves. He will get found out.
Is there a buy one get one free on phuds?
lawwellsacountant
All fair and astute points…….I’ll try and get onto Clyde and plagueofzombiearise your visionary unhappiness. I’m sure Uncle Huey and BFDJ will welcome your criticisms.
What would you have done with a spare ticket mate ?
Geordie Munro
:)))))
lawwellsaccountant All time Celtic 11 individually in each position, Atajic has
played for the first team so does’nt count, anyway he has been released. We have an under-20,s 19 and 17 team so you can pick from them. If that is that is too difficult what is Celtic’s home ground called?
Gene’s, most definitely Bob Crampsie. A very knowledgable, intelligent & civil man.
I have only heard sixties commentary from Bob, I remember more from the one and only Arthur, Archie MacPherson & Alex Cameron on Scotsport.
David Francey & Alistair Alexander were commentators on shortbread at the time.
The current lot on Sportscene, god help us. They specialise in reminding us on numerous occasions of games we have lost.
leftclicktic
16:49 on 29 September, 2014
Dallas Dallas where the heck is Dallas
Just for you
a video uploaded by pablophanque
https://www.youtube.com/watch?v=M-cHCuOHqGs
___________________________________________
Thanks for posting that, an amazing amount of Tims at Mordor sticking it to them. My only visit was the 5-1 defeat when Wilkins scored, never been back there.
Surely the UEFA cup / Europa League means more than 22k paying customers?
Mr Lawwell or whoevever decided to close the top tier are certainly doing their bit to downplay the competition.
What about a bit of positive spin from the club rather than announcing top tier only after the draw.
Is it realism from the suits or a measure of how our expectations have dropped?
For those that are staying away I’ll take a few of the tickets you’ll be clamouring for when we get to Warsaw.
lawwellsacountant
16:33 on 29 September, 2014
Well said BAWSMAN,PROUD TO HAVE VOTED NO,been fighting the Tartan Tories all my Adult life,sure the yes campaign made a lot of noise,but could not back up any of their claims with cold hard facts or economical reasons,we would be signing a death warrant with monopoly money no markets without import duties for a long time,at least now we can get some peace from the twats with saltires and the manky unclean fannies with dirty hair and wearing something akin to proper kilts that haven,t been washed for years and all the tartan army crossdressers wearing pleated checked skirts
The racist SNP should disband just a pressure group with one policy that lost heavily never a proper political party,NO MORE REFERENDUMS
###############################
And it gets better after this….p! $^. One must ask one’s self is he/she..!
Ayrshire is Green and White
geordie munro
16:55 on 29 September, 2014
Your loyalty to RD will be mocked one day very soon.
Lefty
Cheers for posting that gemme….one of my faves…couldn’t speak for days after(a good thing ,you may say)
Squeakyfromme c.s.c
lennon’s passion
17:02 on
29 September, 2014
geordie munro
16:55 on 29 September, 2014
Your loyalty to RD will be mocked one day very soon.
Look mate, if Ronny fails, there won’t be too many Tims mocking anyone. Most, if not all will be saddened as the club will have failed.
lennon’s passion
17:02 on 29 September, 2014
geordie munro
16:55 on 29 September, 2014
Your loyalty to RD will be mocked one day very soon.
For goodness sake give the mhan a chance.
He inherited a team lacking in strength in depth.
RD wants to change a football philosophy.
That ain’t gonnae happen overnight.
Some of his signings have played a mere handful of games.
I seem to remember similar comments back in 1997 when another foreign manager got us off to a bad start.
Wondered what happened there??
People calling RD a dud reminds me of a now deceased team and how they treated a short lived foreign manager ?
BCW
Well said!!
In my opinion the jury is still out on Ronny but for now I feel we should be behind him. How many who want Ronny out were saying the same about Lenny. Until he turned it round.
gerrybhoy
16:41 on 29 September, 2014
lawwellsacountant
Plural is referenda; plus the wonderful writing skills are just…..amazingly impressive ;-))
—————–
i love a bit of pointless pedanticness(surely a made up word – Ed) on here, but i always check my facts before i dive in
referendums is an acceptable plural these days
Burghbhoy @ 17.02
You can’t argue with the box office, and Celtic can even anticipate, and market towards it.
They are very clever fellows, you know.
The lower tier was vastly undersubscribed for the LC fixture v Hearts ( Live televised) and the EL fixture will likely be undersubscribed (Live televised)
So the board were short sighted, or long sighted?
Everyone entitled to an opinion, some seem to be wishing RD to fail hopng for an I told you so if it happens. It might it might not, I’ll give him all the time he gets and hope its successful.
Ayrshire is Green and White
Leftclick, very much appreciated.
Thank you. It would have been even better if we had won the league that day.
Its funny how when Souness appeared on the scene, our allocation reduced for Ibrox for all these ‘fans’ who were ridden with skelfs after coming out of the woodwork and pronouncing they were lifelong berrs.
We seem to be a millstone round Charlie’s neck these days. He talks more favourably of the second club he played for than us. However, he did say on sky soccer saturday a while back that Danny was the best player he ever played with.
BSR
I’m Disapointed in the support, we ain’t displaying our strap line of ‘ faithful through & through’
Does anyone want a bet if we played Sevco on Thursday night we’d be sold out?
I despair at times
Racists, huns, zoomers….welcome to CQN
HH
Burghbhoy
How did the board know that the EL was a lower tier, only job?
Because they are a business, and they know every negatron © JungleJim thought before it’s hatched, on the basis of business and market forces.
The Celtic support took a peek at Murrayfield and Maribor, and the board know how they’ll react, including a new ‘rookie’ manager and his results.
They also take into account how much ‘cash he had to splash’ – then they close half the stadium.
Simple CSC
BurghBhoy
(Ronny) inherited a team lacking in strength in depth.
Your opinion. Mine and Neil Lennon’s is that he inherited a fantastic group of players used to winning football matches.
RD wants to change a football philosophy.
That ain’t gonnae happen overnight.
He’s had 19 games – admittedly too short a time to press the panic button but long enough to see if there is any ‘philosophy’. (Hint – I don’t see one).
I seem to remember similar comments back in 1997 when another foreign manager got us off to a bad start.
Wondered what happened there??
See, there it is again. If it isn’t one of the posters comparing Ronny to Neil Lennon (frankly insulting), it’s you comparing him to Wim Jansen, inserting a humdrum fib about how Wim got off to a bad start. Nonsense and balderdash – Wim was going great guns at the same stage in his proceedings.
IRonny Deila’s point to games record is, currently, the worst in Celtic’s history. Now that may change, but your idea that criticism of him makes one a hun more than a tad unfair.
None of the criticisms or defending of Ronny on these pages will make any difference. Celtic are the same as any other club, and if results and performances continue the way they have been, Ronny will get the bum’s rush. Business is business.
Vogue P- mentioning Ms Fromme does very little for the bhlog’s Bampot Index.
Off Topic –
For those that can’t stop eating crisps, I recommend Seabrook’s stuff, you even get them in your local Asdartame store, which is nice.
everylittlehelps.csc