This afternoon’s statement from Octopus Investments was very professionally written piece. It was designed to give investors a sense that the business has taken appropriate steps to secure money spent with Rangers.
For a start, we now know their company, Ticketus, “purchased tickets for Glasgow Rangers games for a number of seasons”. This clarifies one matter, money received by Craig Whyte’s solicitors back in May last year was a straightforward purchase, not a loan, so VAT was applicable, and should have been declared and paid. We can assume this VAT was not paid, whether it was declared or not will determine future consequences.
Octopus explain their investments are “designed with capital preservation in mind”, with “appropriate security being available” and “extensive due diligence”.
A reasonable interpretation of this is that the company have sufficient security to ensure that they have rights to sell Rangers tickets for parts or all of the stadium in years to come, although, the company stop short of making a firm statement on what is, after all, a private commercial matter. They add that “no trading activity is risk free”, no one can assume there will be a Rangers in the future, and while their statement mentions Glasgow Rangers, it does not specifically mention a legal entity.
A floating charge exists over the stadium in Craig Whyte’s favour. This would see the stadium revert to Whyte in the event of the club being liquidated. Octopus may, or may not, have a claim on this floating charge.
Armed with this information, the administrators and Strathclyde Police will be keen to learn why none of the money for Rangers tickets went into the club. Perhaps more importantly for any potential phoenix, questions remain over exactly who owns what claims on the stadium.
There could be a lot of sentimental photos being taken at Ibrox tomorrow.
All levity aside, this club is enduring a seemingly unending trauma.
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St.John.Doyle says:
17 February, 2012 at 19:25
That’s it. Salmond is playing the Orange card.
Whether that’s because he is a crypto-bigot or because he knows it’s a cheap way to secure a minimum of 300,000 bigot votes is irrelevant.
We are now getting a glimpse of what independence would mean for us.
they taigs iv goat it right in fur uz so rae huv…canny even let iz sign big Cousin…cheating bast…itz awrat feckin Lawells fault so it iz…zat mean we’ve goat tae play by ra rules noo…whitz rules again?
WITS – well worth a wager. Had a score on the Arabs at 7’s in the Cup game, here’s hoping for a repeat tomorrow at the bigotfest!
HH
TTTT
http://www.spreaker.com/page#!/user/overandover/oao_jelly_ice_cream_live_special?autoplay=true
Good Celtic programme
How many calls from Celtic fans will it take before Keevins gets the message that Celtic and Scottish Football don’t need Ranjurs?
He even rebukes Peter Lawwell for saying the same thing. How many major football teams/businesses have you run Hugh? What are your qualifications for making business projections?
Such an idiot.
fritzsong. Fella I have to agree with you. H.H.
WITS
Great odds but with it possibly being the last game at ibrox, I suspect that the MIB will have a significant hand in the outcome of the game.
Keevins-scared to comment on the orcs-
but gung ho when talking bout us-
an irresponsible clot
sparkleghirl says:
17 February, 2012 at 19:16
Are you from Coatbridge?
Keep the Faith!
Hail Hail!
jay_mac79 says:
17 February, 2012 at 19:46
Jeezo, Keevins telling us it was the MEDIA ie the MSM who have uncovered the Rangers story.
Has he not heard of RangersTaxCase, Phil McG and CQN?
What a fud!
Absolutely, I just wish the caller had stopped and listened to that because he could have come back and hammered the clown.
the “luj” only has 50k tops membership…don’t see how support for an irrelevant anachronistic organization vanishing into obsolescence can be a vote winner to be honest- this is the reason why these bigots are in perma-rage…they have a some unconscious prescience of their own demise.
Which MIB has been granted his retiral wish to referee Rangers last ever home win?
Bet of the day is Steve Davis to get a hat trick- all penalties.
Evening Folks.
Got a confession to make, I may have just fecked everthing up re the huns.
Let me explain, was out in the backgarden having a smoke and I think I stepped on a slug, under the rules of Karma I do believe that if one odious, slimy creature dies another one must live. Sorry, so very sorry folks but I think I have just guaranteed the huns survival.
Mea culpa, mea maxima culpa.
WITS
The huns will win tomorrow, no way will the cheats with the whislte and flags let them lose.
After all it could be their last game there.
Mark Daly has just tweeted that the BBC have received a writ from the Motherwell born billionaire.
It just keeps getting better :)
Lennybhoy…Supporting Neil Lennon and CFC until I die says:
17 February, 2012 at 20:00
sparkleghirl says:
17 February, 2012 at 19:16
Are you from Coatbridge?
Keep the Faith!
Hail Hail!
——————————————————–
He asks all the ghirls that!!
If Craig Whyte has issued a writ against the BBC, then all debate on whether he is a genius or an idiot is at an end.
The man’s from the Planet Zog. He’s a PZBB
Another chance for MBB to say in an open court “I can`t quite recollect”, “not quite sure”, “wouldn`t like to get it wrong”, “I cant remember doing that but if its my signature then I must have done” etc etc
Guys no one is going to invest in Rangers with a possible 50 – 70 million debt hanging over it. It just does not make any business sense; think about it. Anyway their bones will soon be available to be picked clean for next to nothing. Any sound business plan would look to pick up as much as possible for as little as possible – i present Wee Craig.
Lennybhoy…Supporting Neil Lennon and CFC until I die says:
17 February, 2012 at 20:00
No, not from Coatbridge, but found the boycott really hard and had to go somewhere. Think it was the Bernie Slaven connection that swung it for me. I
Owen
how could you?
I was helping (??- well I get to buy the booze) my wife with the shopping at Morrisons tonight and noticed that they had a special offer on St. Ivel’s Jelly & Custard reduced to £1.
Is this an acceptable party repast?
sparkleghirl says:
17 February, 2012 at 20:06
Bernie Slaven?
Are you from Fernhill/Castlemilk?
I am wondering if what I heard on SSB tonight was correct .
Delehunt stated the rules regarding any SPL club going into liquidation and said that the top Div 1 club would come up and there would be now relegation .He then went on to say that Kevvins and the MSM /LL had been briefed this week that if ragers were liquidated it would go to a 5 man panel .
This then means that the SPL RULES WILL BE CHANGED TO ACCOMIDATE RAGERS .
This is IMO a complete scandal and if it occurs I would expect Celtic fc to immediately hand in their notice to leave the SPL and contact UEFA with the reasons why .
I will never watch another SPL game if they are given this privilege
hail hail
Paul67,
“All levity aside, this club is enduring a seemingly unending trauma”
Good.
Seriously Paul I’m finding it difficult to put the levity aside.
Árd Macha
voguepunter says:
17 February, 2012 at 20:08
Bernie Slaven?
Are you from Fernhill/Castlemilk?
Not guilty M’Lud. But with no Celtic to watch and no car it was Coatbridge or Maryhill.
hamiltontim says:
17 February, 2012 at 20:04
You know that Coatbridge women are alright…unless I am wrong? Be careful before you answer and you know why…:)
Keep the Faith!
Hail Hail!
Just logged back on is bruce almighty about or is he in his bed the wee billy boy
sparkle ghirl
Just gonnae tell your two stalkers where you stay!! :-)
20.05 and as the rest of us bolt the doors against the storm, Pat Nevin is plodding the touchlines of Ibrox, placing a collection of BBC loaned furry, wind-proofed microphones on the turf. Turning the mics towards the seats. He stops and looks up the the press boxes. His home for the evening. But he knows there will be no sleep. Not for Pat Nevin. No, no sleep for Pat Nevin. The Sentinel for what still passes for decency in this country. Integrity. Dignity, even. He won’t hide from the sectarianism. He won’t look away when the mask slips. He thinks of his calor gas stove and the soup he will make on it. Baxter’s Chicken Broth he decides. He smiles as he places another mic stand into the cold turf. It is still early and Pat Nevin still has so much work to do…
Paul67,
It surely must be time to get the lovely Katy Johnson back on TV duties. It would be interesting to hear fans views on how the jelly and ice cream is going down.
fergus slayed the blues says:
17 February, 2012 at 20:08
I think that the 5 man panel will have at least 2 that will vote against a newco – Celtic and Dundee utd. I could be wrong can anyone advise?
sparkleghirl says:
17 February, 2012 at 20:06
Just wondereding.
Keep the Faith!
Hail Hail!
hamiltontim says:
17 February, 2012 at 20:12
bit of mystery is good….unless it’s the books
at ibrokes.
Quiz tonight?
fergus slayed the blues says:
17 February, 2012 at 20:08
I am wondering if what I heard on SSB tonight was correct .
Delehunt stated the rules regarding any SPL club going into liquidation and said that the top Div 1 club would come up and there would be now relegation .He then went on to say that Kevvins and the MSM /LL had been briefed this week that if ragers were liquidated it would go to a 5 man panel .
This then means that the SPL RULES WILL BE CHANGED TO ACCOMIDATE RAGERS .
This is IMO a complete scandal and if it occurs I would expect Celtic fc to immediately hand in their notice to leave the SPL and contact UEFA with the reasons why .
I will never watch another SPL game if they are given this privilege
hail hail
+++++
I think he read my post on P&B (been back on there this week), where I stated as much. The five man panel has to rubber-stamp the transfer of the SPL share (for a £1, TAL).
The biggest stumbling block for all of this is that Ross County don’t satisfy the ground criteria, although they can apply for dispensation for tenancy from ICT before 31st March.
Timing’s everything here – orcs need to liquidate and be reborn before Ross County get in there over the next 6 weeks and hope nobody holds up the process (like an irate HMRC withholding a VAT number)
hamiltontim says:
17 February, 2012 at 20:12
sparkle ghirl
Just gonnae tell your two stalkers where you stay!! :-)
_____________________________
Warmer climes now. Safe as houses :)
Haven’t seen Celtic for a loooong time but count myself lucky that I lived through the turmoil of the takeover and the 7 Larsson years.
has that total fud Keevins ever heard of the maxim: examine the assumptions behind your own assumptions? this guys mind must float around in a permanent state of preconception about everything…nothing budges him from assumptions…he knows what everybody else thinks! Q nasal condescension: YOU ARE NOT TELLING THE TRUTH! THAT IS A LIE! Celtic DO, DO…i repeat DO need rangers! PETER IS JUST BEING INCREDULOUS…