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.
Fancy writing something for CQN Magazine? Drop me an email and let me know what you would like to write about before you get started, just in case someone else has the same angle covered: celticquicknews@gmail.com.
There was some incredible late night action on the eBay action for the signed Celtic top in aid of the Vanessa Riddle Appeal. I’m stunned, check out the link below. You are pushing the reputation of supporters of Celtic Football Club ever higher.
Bid and help send Vanessa for the treatment she needs by clicking here. Only one day left.
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Good morning all
I’ll try Mr willis in the 2.50pm today pls. Currently 7/1.
GL ALL
Mon the Killie……………………..
Hoping Hunt Ball can carry on the good work, 3.10 Win.
Good luck all.
Dreams of Glory. 4.00 Lingfield.
around the clock 3.50 gowran
oldtim67 says:
18 February, 2012 at 12:01
You seem less crabbit today :o)
Lovcen in the 2.00 at Winc is my nap today bhoys. Be Lucky
Rey Nacarado, 3.20 Haydock. Has a good chance off a low weight.
Lads,
I strongly fancy Featherbed Lane (Haydock 2.45) but it’s a miserly price, so today’s nap is a speculative :
Scoter Fontaine (Haydock 4.30)
Be lucky…
fleagle1888
napsters, apols for the late shout…..
But I’ll go for Theatre Diva 2.35 Wincanton!
HAIL! HAIL!
Token
Yaaaaaaaaaaaaaaaaaaaaaaaasssssssss thank feck! First nap in about 18 long bloody months….!
What a fighting performance at the end there. Ya feckin dancer!
T4
Well done T4… it looked like being a losing battle all the way to the line !
fleagle1888
fleagle – Capa Bleu was looking very strong 2 fences out, thought I was going to get mugged.
Bull67 got a winner up as well earlier.
Cheers
TTTT
Well in TTTT, i backed it as well!!! Yeah, looked like getting mugged on the run in by well done young Schu… been a good day so far hope it continues… c’mon the Hoops
Have Killie scored yet?! Got a tenner on at 7’s….!
T4
I’m in Heaven I’m in heaven
rfc plc (in administration) 0 wee Kilmarnock bunnets 1
Well eat my words a World class performance for fellow Fenian, Ian (St Jude…..saint of lost causes ) Brines. Well played Kilmarnock not lying down to a team for a change…..!!!
You’d thought Rankers would have played their star striker Cousin alongside their other star striker ‘elbows’. Also surprised to hear Snyde in pre comments criticising wee FB for pressing the administrators to get Cousin registered. Auld lizzie thinking about buying them as a gift for her diamond thinggie, after hearing them sing for her.
Visitors to-night , Celtic man, Thistle man (mmmm), although even the wummin now taking an interest, should be interesting night, have a great one and keep safe !!
Hail Hail
CQN Saturday Naps Competition – Week 28 Results
Lads, to round off an amazing week, the CQN napsters provided a bumper weekend of winners :
TTTT takes the ‘Hector Inspector’ award by napping Massini’s Maguire @9/1 !!!
…and honourbale mentions go to Bull67 (Lovcen @11/4) Cathal (Hunt Ball @7/4) and Rockon (Riverside Theatre @13/8)
+£10.58 bobbymurdoch’s winklepickers (7)
+£10.25 Cathal (7)
+£ 5.00 voguepunter (3)
+£ 3.83 fleagle1888 (5)
+£ 1.55 Rockon (8)
-£ 2.25 What is the Stars (4)
-£ 5.00 wolfetonebhoy (4)
-£ 5.50 twists n turns (3)
-£ 7.75 Eurochamps67 (5)
-£ 8.00 Raymac (3)
-£11.70 Som mes que un club (2)
-£15.00 Che (2)
-£15.25 BULL67 (2)
-£18.00 tommytwisttommyturns (1)
-£18.50 hunza rugli (2)
-£19.50 PFayr (2)
-£28.00 oldtim
-£28.00 The Token Tim
*No selections from – hunza rugli, Som mes que un club, wolfetonebhoy
Cheers, fleagle1888