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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THE EXILED TIM
The racists took a helluva beating on Saturday.
hebcelt
16:26 on
29 September, 2014
Question for any posters in the investor Section are we being offered an extra ticket for the Hamilton game on Sunday FOC? Are any SB holders getting this offer? If not why not? hAIL hAIL hEBCELT
Hi Hebcelt
No offers for us, only people getting the deal are those buying for one game only, another Kickinthenakas
BSR
They will be back for more >}
HH
petec- you should get onto Lennoxtown with that nutritional nugget.
leftclicktic
16:49 on 29 September, 2014
I was in the enclosure that day, 2-0 H-T, Clark scored their second. Charlie’s last game before heading to Arsenal.
Keep the Faith!
Hail Hail!
Up_over_goal
RD’s League cup record this season is better than NFL’s last.
I think we will win the treble and the price to pay for that is a few points dropped in the league.
The mhan will come good.
Of that I’m sure
burghbhoy
17:08 on 29 September, 2014
What’s a x zombie manager got to do with RD. Apart from the fact he had more than one system to his philosophy. What’s le guen doing know genuinely don’t know.
Would love for RD to prove me wrong but he won’t he’s clueless. Out his depth cut all ties ASAP
Up_over_goal
Did Wim not loose his first 2 League games?
Hibs A and Dunfermline H
How many league games has RD lost?
lennon’s passion
17:40 on 29 September, 2014
burghbhoy
17:08 on 29 September, 2014
What’s a x zombie manager got to do with RD. Apart from the fact he had more than one system to his philosophy. What’s le guen doing know genuinely don’t know.
Would love for RD to prove me wrong but he won’t he’s clueless. Out his depth cut all ties ASAP
So it’s decided then, get rid, a failure.
Dear oh dear
DBBIA
She’s that bad a shot,she could get a joab up front of oor team :O(
Dontbrattbakkinanger
17:38 on 29 September, 2014
petec- you should get onto Lennoxtown with that nutritional nugget.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
It would be very interesting to see the things consumed at the Town we love so well.
margins.csc
Lennons Passion
The link between an x zombie manager and RD is our support are displaying the same patience as those of Deadclub
Lennybhoy
Upper deck of broomloan for me…..never forget they bassas Clark n Black givin it
the big getitupyeez…
Timswholaughlast c.s.c
He did indeed burghbhoy. Odds after those two games for the league were 1/20 zombies and 8/1 Celtic. I know because my old mum was a believer and asked me to put a fiver on us winning the league for her. Me I was a doubting Thomas and although I put the bet on I didn’t put anything on for myself, but I was delighted to be proved wrong. Sometimes people just need a little time.
up_over_goal
If RD inherited such a fantastic squad what was the clamour for new signings in the window?
If it was such a great squad how come we got 3 points and finished bottom of the Champions League group and contrived to get papped out the League cup by Morton?
I don’t think it’s a coincidence that Masterton’s malfeasance has eventually come into the Scottish Mainstream lickspittle media,on the day our hero has his court date with Ticketus(what a sham this is too….but we will park this up for now).
TSFM and Oor Phil have comprehensively covered Masterton’s links with the main players in the shambles at DeadRangers.Again,years before any of the MSM would even discuss it….They are sitting on a many more stories to come out in the next few years, when people will be too fatigued to do anything about it.
Masterton,Minty Murray,Angus Grossart,Craig Whyte and his dad,Alexander Dennis Coachbuilders,Sleazedale Scrap Metal businesses…jumble all of these names in a hat ….. Throw them in the air and watch them all land stuck together.
Masterton will bring Minty down eventually.
These feckas all double cross each other in the end.
Hell Mend The Masonic Cabal
jimmynotpaul
Aye, yer auld ma got it right.
A lady with a bit of faith which I’m afraid some lack on here!!!
I rememember those games. I was at Easter Road and Paradise.
The season kick started with a win at Perth with not a great performance but a fantastic diving header from Henke.
To all those out there, keep the faith !
That 4 2 game at Ibrox.
Cooper had a shot deflected in off Clark’s derriere and then in Arthur’s words a whizz bang effort from McKinnon was deflected in by Clark’s header.
Arthur came up with another good one when Clark, unsurprisingly couldn’t control the ball, he said he had it but didn’t know he had it.
All who were there have the distinction of seeing us get & score two penalties at Ibrox.
Dawson’s reaction to the award of the second penalty is hilarious.
burghbhoy
17:43 on 29 September, 2014
Luckily for RD I don’t make those decision I’m just a punter with opinion.
Serious question what does le guen do know genuinely don’t no.
The day Dundee United won the League at Dens Park.
What a surreal feeling leaving Ibrox that day….having come back from 2 down to skelp the Huns but losing out in the league.
Rangers 2 4 Celtic 15 05 1983 – YouTube
► 3:33► 3:33
http://www.youtube.com/watch?v=M-cHCuOHqGs
23 May 2009 – Uploaded by pablophanque
David, at this particular game we had half the stand and enclosure (which we continued to get till …
Le Guen was afforded about the same patience by the zombie support as we are giving to RD.
Good Evening Timland.
Gideon freezing benefits for 2 year’s saving £3B….is that not
the cost of bombing women and children and some bad guys
in Britain’s latest military excursion.
Burghbhoy
If you were that dissatisfied with Neil Lennon’s Celtic (2nd best manager after O’Neill) you must be positively fuming now.
But you aren’t, suggesting your dislike of Lenny as manager has clouded your judgement.
Remember the le guen year loved it the zombies were dropping points every week. We had the league in the bag for Christmas. This man is getting held up as a positive example.
Evening bhoys
Another wee trip to the jubilee. Didn’t feel my leg was healing and being hept in overnight. X ray and poss op tomorrow.
Reading on hear take it I missed a ding dong night on Saturday….
KTF
Le Guens time at Ibrox was marked because of his religion
Dielas time at Celtic is marked because he doesn’t hail from a Celtic/Irish background and he is taking the playing side of the club backwards
I reckon there’s extensive comprehensive Celtic patience still to come for RD, despite rumblings of discontent echoed via the DR and general incomparable hatred from SMSM.
We’re likely to give RD a lot longer than a few taking it on the chins CSC
up_over_goal
On the contrary. NFL was and still is my hero. I just thought he got things wrong such as our performances in domestic cups.
We should have won more in his tenure than we did.
A wasted opportunity to wipe the floor with domestic opposition.
I think RD has a strategy of not gambling with domestic cups and playing a strong team which is the opposite of Lenny.
I just think RD has the right idea which will lead to more silverware.
Anyone disagree?
For those asking I heard that Celtic are offering those season ticket holders in the investors section on Sunday an abdditional free programme and an additional copy of the team line ups. They drew the line at an additional prawn in the sandwiches
is the coachbuilders alexander dennis another no tims need apply place
And for the record , I back 100% every Celtic manager
lennon’s passion
Yep, but even Le Guen hadn’t dropped as many points as we have.
After 19 games, Le Guen had accrued 32 ‘points’* from 57 (56%)
Ronny, with the same amount, has managed 27 from 57 (47%)
Have we had any car park demonstrations, and a consequent run on flaming torches at Asda? No. Celtic fans’ response has been positively lethargic (i.e. not turning up for games).
*treating cup wins as 3 points
Just a thought
Does anyone think that those buying a ticket for Sunday will be able to get rid of the spare ticket in the two for one deal
Mickbhoy1888@18.14
Don’t think that RDs lack of a Celtic/Irish background has anything to do with how he is perceived by the support. If he was successful I do not think people would give a “monkeys” what his background was a la our greatest ever manager.
The question might be if he was Irish/past player would it buy him more time if unsuccessful?
Up_over_goal
Yup, faithful through and through eh?
Are we now congratulating ourselves for not rioting and demonstrating in the car park 3 months into a new managers tenure?
3 MONTHS???
BT
Chin up pal.
22,000 tickets so far for Thursday night would make sense, it was told that up until Saturday just over 20,000 had been sold.
It’s all the fault of negative Celtic supporters of course.
mickbhoy1888
Utter tosh that RD is getting judged on his religious/Irish links. Utter garbage