On the face of it, it’s just too crazy. Why would Craig Whyte become a director of Sevco 5088 Ltd, the vehicle his collaborator and Our New Hero, Charles Green, would use to buy the assets of Rangers from the administrators?
What options did he have?
He was, is, and for the foreseeable future, will be… the only show in town.
Whyte had controlling shares in Rangers and a security over Ibrox and other assets, as well as personal guarantees to Ticketus. If he wanted to realise the value of these assets, and protect himself from the consequences the Ticketus action which materialised this week, he was probably the only man at Ibrox last year you could guarantee would not, walk away.
Either Whyte had to find a 100% secure proxy to carry out his actions or he needed controlling interest in Sevco 5088, and Whyte is not a man who strikes me as having many strong trust bonds out there.
The Companies House form which STV produced (again, credit where it’s due) was always going to be fatal to Whyte’s plans, if produced, but it would have been no more than an insurance policy against Our New Hero going rogue.
The form hitting Companies House is not the moment you become a director in a company, that happens as soon as an offer is made and accepted. The company is obliged to inform Companies House within a short period (lazy journalism moment, I can’t be bothered looking it up), but failure to do so only incurs a small penalty fine.
Whyte and Earley were controlling directors and, in case Green reneged on their agreement, they would have documentary evidence to prove it. If Green had performed on demand, they may never have had to produce the document.
A number of possibilities could explain the fact that Green transferred the assets of Sevco 5088 to Sevco Scotland:
He thought that Whyte would be reluctant to incriminate himself further and would simple go away.
He thought he could transform the business and compensate Whyte with the proceeds.
He is simply not smart enough to know how these things operate.
Or he may have a subsequent agreement with Whyte terminating his involvement with Sevco 5088, although this contradicts his evidence to STV cameras earlier this week.
The weeks ahead are likely to be so busy it will be hard to retain focus on the critical path. Green has known for some days that he would have to go and replace himself with someone he can sell as a ‘true Rangers man’ to the most gullible people to walk on hind legs before season ticket renewal time, but even that date will seem a long way off.
Whyte will not budge until and unless his money is covered. We’re talking £18m to Ticketus and no doubt some more for his trouble. In playing the Sevco 5088 director registration form, his Doomsday Card, he has invalidated Newco’s associate membership of the SFA. He has called into question the fair and open disposal of assets by Duff and Phelps and the entire administration process. He even stayed quiet until Green flushed out a fair amount of supporter cash.
Some of the least trustworthy looking people in history, assisted by a supporting cast who were willing to bat away all concerns and warnings for a crumb or two from their table, have trashed every last inch of what we used to know as Rangers Football Club. This was not the act of Green, Whyte and Sir David Murray alone, many authors wrote this story.
On any measure of humanity, the monkeys, the organ grinders, the cheerleaders and their flunkies screwed the Rangers fan in the street to a ridiculous degree.
The next actions are for the stock market and some technically minded police officers as they try to figure out the Great Football Swindle.
At this side of the city we’ve been warning about exactly this link since Green told everyone Craig Whyte was happy to walk away for £2. It was astonishingly stupid for anyone to believe that. Really, really, really stupid. The most stupid thing a whole bunch of stupid people has ever done.
Ever.
Just stupid.
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How can you transfer an associate member licence ?
Joint administrator Paul Clark took a crowbar to Whyte’s supposed grip on the club. “We’ve seen no evidence whatsoever of any investment by Craig Whyte”, said Clark. “We can’t see how he can have any secured creditor status”. “Make no mistake, Duff & Phelps are in charge of Rangers Football Club”. “We’re taking the decisions, not him”.
“In terms of Rangers’ future, medium to long-term, he is absolutely irrelevant”.
There’s nothing as stupid as a hun. They’ve taken the mantra ” I want to believe” to new and absurd levels.
Stupid gullible deluded zombies.
PAUL 67.best ever post.maybe the podium chasers will read later.
Pp
Please count back… I got 12
dumbarton queens park hearts
ps associate members do not count…….
Dumbarton, Heart of Midlothian, Rangers, St. Mirren,
The Great football swindle indeed.
Murray claims he was duped by Whyte.
Whyte claims he was duped by Green.
Follow the money.
Beyonce
prestonpans.wis that no a qu. last week tae??
“The Companies House form which STV (again, credit where it’s due) was always going to be fatal to Whyte’s plans, if produced, but it would have been no more than an insurance policy against Our New Hero going rogue.”
should that read ‘Green’s’ plans?
Hail Hail
Paul67……. and you can take THAT to the bank……Bhun Armageddon
“In playing the Sevco 5088 director registration form, his Doomsday Card, he has invalidated Newco’s associate membership of the SFA. He has called into question the fair and open disposal of assets by Duff and Phelps and the entire administration process.”
PFAyr – Guaranteed Campbell is currently sweating buckets in Hampden right now trying to work that one out….
PF
I’m sure the SFA cabal will try and find a way.
The time is fast approaching when Scottish football fans of all clubs may have to stand together again, make no mistake there will be an effort to make all the shenanigans disappear for the sake of the game.
some jiggery -pokery going on with scores tonight ….9+3 =11 eh?
Dead,dead,dead,dead
http://www.ipo.gov.uk/tmownerid/search?domain=1&id=122096&app=0&mark=UK00000910203
Dumbarton. . Heart s.. st mirren
Is Craigy boy just trying to make sure that he’s got a good card school in the Bar-L ?
So if the rangers die and a new the rangers comes along, surely to god then they will not be allowed to wear the same jersey, badge etc?
SOAL
WHO ????????????????????
tiger top of the leader board
channelislandcelt
Exactly
Hold it
I got ussain bolt for the sprint finish
FAVOURITE UNCLE
22:03 on
12 April, 2013
no idea just googled quiz questons after I saw CRC was not doing it at about 8:50 but a point of order has been requested by jinky need to count up again…………
If the predictions of Timomouse (last thread) are indeed true and thems do go belly up again and/or form yet another Newco,
what happens if they don’t finish out the season.
Can they forfeit and suffer no consequence because of the points gap.
Do they keep the history or does that belong to Chuckles.
Or are we going for a new record here of a new team winning a division whilst using 3 different names in the one season
OOOFT !
Or do I just open another beer
Paul67
Phenomenal article. Hold your head high kiddo. You truly are an inspiration to us lesser mortals. Lol. Good on you.
Weefra HH
‘Cos when they finally put you in the ground
They’ll stand there laughing and tramp the dirt down’.
Che
22:04 on 12 April, 2013
PF
I’m sure the SFA cabal will try and find a way.
The time is fast approaching when Scottish football fans of all clubs may have to stand together again, make no mistake there will be an effort to make all the shenanigans disappear for the sake of the game.
—-
Worth a re-post, frequently! The timing is very similar to last year. It all needs tied up quickly for league reconstruction and ST collection from their point of view.
This is surely why RCO is still in place.
Thur a shower of sleekit b’s.
BigStingAwareness CSC
I’ve got trap 6 – still want a steward’s enquiry re goals scored by McClair though
Butlikethemurphysi’mnotbiyterCSC
Congratulations TBJ on winning the quiz on this momentous day, you have your rightful place in CQN history.
Really, really, really stupid. The most stupid thing a whole bunch of stupid people has ever done.
Ever.
Words escape me P67, the balls over to their court and it’s bouncing really hiiigh.-“”
Pp
Techically.
I conceded to soal when he declared First on the new article
If Charlie can claim world records and history… how could I doubt his claim to victory ;)
Must be a big story if Paul’s posting a new article on a Friday night.
He’s usually too busy googling answers to the quiz questions and then copying and pasting the answers under a pseudonym …
G64
Tut tut,let the ole wummin rest in peace.
jimbo67
Im with you :)
HH